Keep Modding? or Save for more $$ car?
This is probably going to sound really stupid because Im thinking so far ahead, but this is my situation:
Im 16 years old, a sophomore in high school. I have a 1999 Civic EX that my parents bought for me, it has 70k miles on it. Ive already dropped a lot of money into it, see my mods list in my sig. Basically, this car has to get me through college, so atleast another 6 years.
This is my dilemma (sp?).... Do I keep modding this car and dumping cash into it (namely boost), or start saving for a more expensive car for when I get out of college (ie s2k, wrx, evo etc etc)?
When Spike bought that S2000, it really made me want of those and inspired me to save throughout college in order to own a car like that, and it seemed like financially it wasnt that far out of reach...at first. I realized later that it really wasnt a very smart investment for someone in their early 20's. Because of that, it seemed more reasonable financially to just mod my current car, so I started leaning towards just boosting my d, but there are a few things causing me to have doubts about that. First off...my mileage, I know 70k isnt much at all for a honda, but Id guess that by the time I got the turbo on it has around 80k. How would a boosted motor with this kind of mileage hold up if I kept it ~ 7-8 psi? Would it last until 120-130k miles? Secondly, resale value...is it hard to sell a boosted car?
All in all, I just dont want to drop $2-3k in my current car if my motor would just die shortly down the road, when I could have used that money as part of a down payment on a more expensive car. Im really kind of leaning towards just modding my car I have now, because I dont have any other financial responsibilities (mortgage, tuition, etc) at the moment, and wont for quite a while, but I still have a good cash flow coming in, and lastly, I really have no idea what my financial situtation will be like in 6 years.
What is your input on the situation? any suggestions?
Oh, btw, sorry for such a long post, Ill provide cliffnotes if youd like.