Re: [DML] Drive the dream?

["Matt Carpenter" <mattdcarpenter@xxxxxxx>]

Ryan's comment about Dave Ramsey was great!  I've listened to him (even seen 
him live) many times.  Ryan, perhaps we could talk Dave into a D - paying 
cash of course!.  Paying cash for this type of hobby or investment = 
financial peace.


>From: Ryan Wright <ryanpwright@xxxxxxxxx>
>Reply-To: dmcnews@xxxxxxxxxxxxxxx
>To: dmcnews@xxxxxxxxxxxxxxx
>Subject: Re: [DML] Drive the dream?
>Date: Mon, 23 Jan 2006 09:43:48 -0800
>
>On 1/22/06, biojerm <Jedamay@xxxxxxxxx> wrote:
> >
> > As it would turn out, i just ran across someone who is selling a 82
> > delorean 20k miles on it and I was wondering if I should get it.
>
>No. Just from your brief description I can tell you the car is a
>basket case. Stay away from it.
>
>Here's what you would need to make this car something you can drive and 
>enjoy:
>
>1. An enclosed garage to park it in and work on it.
>2. A healthy supply of good tools.
>3. A healthy supply of disposable income.
>4. A lot of time and mechanical ability.
>
> > wants $7k for it,
>
>You'll spend another $7k fixing enough of the problems to drive and
>enjoy it. Note, this won't necessarily make it reliable, or nice. Just
>somewhat useful.
>
> > I want to save up and get a v8 put in it eventually for a more
> > reliable car. but im having a hard time find out what kind of tranny
> > these things have and how much they are to replace if this one needs
> > to be replaced. Any and everyone I call has no idea what it has except
> > for "delorean" transmission.
>
>The V8 won't make it any more reliable. Expect to spend a huge amount
>of time and/or money for this. I've been looking into an engine swap
>myself and I've found that it's not a minor thing. This isn't a Fiero
>where you can find forums full of people who've done swaps and can
>give you advice. If you try to perform an engine swap you're basically
>on your own here.
>
>The transmission is probably just fine, actually. A new/repaired
>transmission computer will probably fix it. Not for certain, though.
>You might have to spend several thousand dollars to replace it. Hard
>to tell without looking at it.
>
> > This will be my first/only delorean and I only make about $30k a year,
> > but im willing to do whatever it takes to drive my dream car.
> > Anyone have any suggestions?
>
>Yes. Don't buy this car. You don't make enough money.
>
>A DeLorean is a $20k car, give or take. There are exceptions but this
>is basically the magic number. Now, you can buy a car for ~$20k that
>will be in excellent condition and perfectly usable or you can buy a
>car for $10k and put another $10k+ into it. That's pretty much how it
>goes for the vast majority of us.
>
>To put it bluntly, you can't afford a twenty thousand dollar car.
>Certainly not one that, at random times, will require a thousand bucks
>worth of parts and 10 hours of skilled labor - unobtainable in most
>areas - to repair again. The $7,000 car looks affordable, but if it's
>like most $7,000 DeLoreans it's really a $30,000 car in disguise.
>Meaning you'll probably have to put that much into it before you start
>to enjoy it.
>
> > But am i going to have to use all
> > my money and live in my car trying to replace the engine and tranny?
>
>Considering your income, yes, pretty much.
>
>I know you want a DeLorean. We were all in your situation at one time.
>My advice to you is to work on two things: One, save your money. Two,
>increase your income. When you're pulling in $60k and you've saved up
>$20k in cash, then go out and buy your dream car. But get a good one
>that you'll actually be proud of, not a $7,000 piece of junk.
>
>Also, I know you didn't come here looking for financial advice, but I
>highly recommend you listen to a man by the name of Dave Ramsey. He's
>on talk radio stations across the US and you can find your local
>station at www.daveramsey.com. The fact that you're thinking of
>spending $7k on a 25 year old basket case of a car, with a $30k
>income, tells me you could use his excellent (and completely free)
>financial advice. That isn't a slam, by the way; I was once in your
>shoes and I'm trying to help you avoid the same financial mistakes I
>once made. Just listen to (or download from his web site) a few of
>Dave's shows and he will set you straight.
>
>-Ryam
>
>
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