Hi all.

As per subject so let me give you a bit of background.

I went to a local motorsports academy open day recently and they are offering a program to kickstart car racing journey. They have various packages but one that stands out is to buy a Suzuki Swift complete equipped with all the necessities (bucket seat, coilovers and other mods) not to mention unlimited access to their theory classes and mentoring. Basically the car is track ready upon purchase and price quoted includes classes and mentoring. They have a roadmap on how they going to groom their students from absolute beginners to season debut at local circuit to compete in their own championship.

I see this as an opportunity of a lifetime and I thought finally I found what I always wanted since kid. Problem is, I need to pay at least 50% of the total cost to secure my place in the academy and tbh I don't have that kind of cash stash somewhere. I've been thinking non stop since that day on how can I earn that deposit amount before they jack the price next year.

I earn round 120k/year. Married with a kid who's still in kindergarten. Have no long term loan under my name except for my daily. Credit card paid in full every month without fail. Maxing out the card is out of option since I use it for household expenditures.

Really need some sound advice from the community as I can't stop taking my mind off this.

Additional factors for your consideration:
- Age group? 20-30, 31-40, 41-50?
- Is this a hobby or you planing to go professional?
- Is wife earning income?
- Own a house? Fully paid?
- Do you do budgets every month?
- Do you invest? How much a month?
- Do you save? How much savings a month?
- Own's estimation on driving talent? Have you competed in GoKarts before? (Generally you graduate from Gokarts before going into production car racing.

50% DP is alot...how credible is this local sports academy? Any track records and have you considered if they were to wind down after 2-3 years?

Ask yourself whether this is something you "want" or you "need"? Again think about the financial planning including the opportunity costs that you and your family are going to face because of your decision. If you are not able to buy it outright, meaning you can't afford it therefore you shouldn't finance it.

20-30
Plan to go pro
Not at the moment
Renting since not ready to commit yet
Put 200 a month in bursa gold dinar
Few hundreds in cash savings per month
Competed in gokarts before. Not my cup of tea. Went to few advance driving courses before. Instructors told i got talent and passion can go far with right training.

Search for Kenny Lee and Kegani Racing Academy

True hence why this thought is conflicting with my stand on personal loan. I saw what it did to my dad last time and other horror stories out there. Then again, opportunity don't come often and I don't want to have deep regret later down the road.

From the above, like what others are hinting... you will need to decide where is your priority. e.g. is house a better investment? Invest and earn more to be financially stable? Save more for a rainy day (afterall you are in a single income situation).
Also, not sure if you are aware how much investments it takes to go pro (especially in the early stages). All are self financed. Some consider motorsports as one of the more expensive sports.
And personal loans from a financial planning perspective. Decreases your loan eligibility more.

So fast mid life crisis?
Stay with your job and just target for hobby. At 20 - 30, will u have income while in academy?
U don't makan, kiddo has to makan daily.
Instructor say u got talent - could be a sales gimmick.

Its your life, your choice.
All the best.

Its not full time brader classes/training on weekends even that not every weekend. I dont think too early la for me assuming i live until 60 nows the perfect time lel

like sportbike, some of racer buy motor singapore, motor tak boleh renew geran, motor full modified. that of cos only can naik towing to track area.

then go take racing session.
this option very cheap and save cos.

Your money, your choice. But no for me. This is a fucking first world problem

You can try recreational go-kart and if can top 50 timing, then only start talking. You too old to start polishing

This post has been edited by e-lite: Oct 21 2024, 11:20 AM

Go join a car club, which have track day event, get a car, mod car, increase hp and torque, gain all those experience from there

i would discourage against it.
just earn more until you don't need a loan, or at least, can comfortably get a loan without the need to seek validation on a forum.

now, about bolded, no. there will be opportunity(ies) coming up all the time. don't be FOMO
your annual income is too low to burn on motorsports. i earning very slightly more than you, also just having a 2 soon to be 3 years old son. and i've been inactive from motorsports since 2019 just repairing/rebuilding my finances that was in ruin (and motorsports was a huge contributing factor)
back in 2018 2019 i only had debts, no savings. today i got some savings that can be resilient a comfortable duration in case i do lose my job
my point being, chances are motorsports is only going to be a casual stint or hobby, and if you're not going pro with it, you have no business taking huge financial risks with it.

just curious, who? Kenny/Kegani racing?

oh i guessed correctly before even reading this post.
it's a business bro. there will be opportunities in the future, either by him or someone else. its not a once in a lifetime thing.

why not rent a track car? proper race car with roll cage

just a point to note, if you ever get any serious injuries or accidents, your personal insurance will NOT pay you a single sen.

make sure you buy special insurance in case anything happens

see further step. how far this kegani can bring u to.
considering their history as well. which team from msia (without tongkats) able sustain

you earn around 10k per month 20-30 ages? damn jelly..

I would suggest, you go for saga cup route, it's cheaper.

tons of pro driver I know compete on saga cup and big cup at same time.

I think it's better for you to join public track day + instructor session few times with much cheaper compared to racing academy.


Don't go for loan bro, just go for slow and steady route on your passion, slowly but surely. Even if your age is 30-40, it's not too late to enjoy racing.

This post has been edited by babisotong: Oct 21 2024, 02:04 PM

You journey path similar like Uncle YS Khong who is Ex-rally champion. He was a working adult and he was selling car to earn for living and also pursue for his dream in motorsport.

Buy him a nice coffee, and you will get all the answer, guidance in a cup of coffee time.