banky

hey guys, first of all, i know posting in a honda forum is gonna get some biased feedback, but im asking that you guys be as objective as you can. im also doing the same in the lexus boards. i really dont know what i should do. basically, im in a 01 lexus is300 with currently 93k miles on it. i bought it a year ago and still have about 4-5 years left. i currently have the option of getting into a new 07-08 si coupe, but wasnt sure if it would be a good move. first of all, im upside down on the lexus, and im not sure if this would be considered a real upgrade. i know the lexus would last me the rest of my term with no real major problems, but i like the idea of a new car. the reason its narrowed just to the SI is because of the price range and i might possibly be able to get it at a great deal (numbers have not been worked out yet) .. i dont neccessarily need to trade in my car for a new one, i just think long term wise it would be a good idea. i also need to drive to texas in about a month or 2 because im moving, and i think it would be a lot better to make the drive in a new car compared to a 100k mile is300.. although there *shouldnt* be any problems making the drive.

im assuming i got fucked on the deal when i bought the lex a year ago because im heavily upside down, but what would you guys consider a good monthly payment for an SI be? i really cant justify a $500 monthly payment for the car alone (without counting insurance) because i dont *think* the SI is worth $500 ...

any suggestions?

specs of teh lexus::

2001 is300 black
stock motor
18" wheels
93k miles
already replaced radiator, water pump, afm and timing belt

i know this car if maintained could last *very* long, but i bought it used and this whole moving to texas thing just popped up so im not sure if i should really keep it anymore..

what do you guys think?

Zooty

Just save up what money you can when you're not paying bills and try to tune up your car, read up on the lexus and see what parts usually go wrong first and check them for wear and whatnot. If you really want a honda (which is understandable ) then go for it, but make sure you really dont want your iS anymore, and test drive the civic, multiple times, before you give the answer.

and what do you mean you're 'upside down'?

TheOtherDave™

If you're already into negative equity on the IS300, the last thing you should do is make things worse by rolling that debt into a $500/mo payment on a new car.

The Si isn't going to save you much on gas because you'll be wringing it's little DOHC neck all the time.

If the IS300 is running strong, keep it and keep up on the basic maintenance. It's a very nice car with responsive handling and decent room. Do all that you can to pay that car off ASAP.

Also, what's the APR on your current loan?
If you've got good credit, you may be able to refinance the loan at a lower rate.