tell your buddy to buy my boat, the broads you pick up are already half naked in thong bikinis
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Originally posted by andrej_NDC
The point is to not over-extend yourself. If you have $2M in the bank and spend $100k, it's no big deal. On the other hand, if you have $250k in the bank, and spend $100k you're going to feel it. I don't care what anyone tells you, cars like this are NOT an investment, if they were an investment you would NEVER drive them; owning a high-dollar car is a luxury, one that should only be attempted when you can reasonably afford to do so.
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Originally posted by EdgeXXXI don't care what anyone tells you, cars like this are NOT an investment, if they were an investment you would NEVER drive them; owning a high-dollar car is a luxury, one that should only be attempted when you can reasonably afford to do so.........Originally posted by andrej_NDCComment
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Originally posted by andrej_NDC
Ok, let's run a scenario. What happens if one day the Real Estate TANKS? You have just lost your entire savings and need money badly. Now what are you going to do? Sell your expensive car to raise the money? Not likely..... what do you do then?.
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Originally posted by andrej_NDC
Touche
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not really...Originally posted by andrej_NDCbtw dont you have any type-in domains to sell?
well i'm buying f.e. one right now for $3.5k, maybe I could sell for it $20k ;)I don't use ICQ anymore.Comment
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Originally posted by EdgeXXX
Didn't mean to sound argumentative on this one, just food for thought
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dont worryOriginally posted by EdgeXXXDidn't mean to sound argumentative on this one, just food for thought
Well, what about this. If I have a real estate for $1M, its going to make some nice monthly cash from renting it. That cash will produce some savings, too. And a bank isnt 100% safe either. Im not againts having something in the bank as back-up for "bad days". But most of the money has to make money or be spent on things that make me happy. But thats just me.
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Im buying 2 atm. But not as good ones as you if it really works for you. But I want them for long term steady income, not to sell them again.Originally posted by polish_aristocratComment
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Doesn't sound like smart investing to me, what happens when your tenant moves out and your rental income dries up for the next 6 months?Originally posted by andrej_NDCdont worry
Well, what about this. If I have a real estate for $1M, its going to make some nice monthly cash from renting it. Diversify with 5 x $200k houses or 10 x $100k houses (etc, etc) to spread the risk...
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Just go buy it. Until someone proves otherwise, you only live once. Enjoy it while you can. Just make sure you can afford it. Don't be scraping by on your house payment just so you can drive an 355 or a 911 or whatever it is that you want.Comment
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Buy what you can afford and enjoy it.
Life is uncertain and clearly goes by quickly.I've known many men that worked hard,made the right career moves,saved for their retirement and fell over dead in their early 60's.You might not be as anonymous as you think you are.Comment
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of course, I wouldnt buy just 1 real estate for that kind of money...but spread it over 5-10 smaller appartmentsOriginally posted by rowanDoesn't sound like smart investing to me, what happens when your tenant moves out and your rental income dries up for the next 6 months? Diversify with 5 x $200k houses or 10 x $100k houses (etc, etc) to spread the risk...
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Are you more likely to get a hard-on for a new car, or a new house? (Assuming that you already have both and they're "acceptable")
I know what my answer would be.
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new carOriginally posted by rowanAre you more likely to get a hard-on for a new car, or a new house? (Assuming that you already have both and they're "acceptable")
I know what my answer would be.
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Mine would be the same, and I bet the majority of others would also prefer a new car in that circumstance. I think we've come full circle now.Originally posted by andrej_NDCnew car
My thoughts on the original question: if you can comfortably afford the repayments now and you think you'll be able to for the term of the loan, then go ahead and finance it... but NOT to anywhere near 100%. If your income goes belly up you don't want to find out the hard way that your car's market value has depreciated to lower than what you still owe on the loan.
This way you get to enjoy your car now (or "sooner") but with a substantially reduced risk of going -ve if your income dries up.Comment
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thanks for the responses will point my friend to this thread.
About real estate it is a good investment, but you got to live a little. I know some guys that do well, but it seems they are saving their money to just buy another piece of property all the time. They are not actually enjoying any of the money they make. When you die they can't bury you with your money.Comment
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I leased my Ferrari and did VERY well on it. Bought out my lease towards the end and pocketed $20k. It all depends on the lease, and your CPA. My sl65 I bought, different car, different #'s, different economics.
Of cours if only people who could afford a $100k car posted in this thread, there would be fewer than 10 replies.Sig too big
http://www.gofuckyourself.com/gfy_faqs.html
Want to use a large banner in your sig??? Contact Eric about getting on as an advertiser - eric AT adult.comComment
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Sorry I killed your thread!Sig too big
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Want to use a large banner in your sig??? Contact Eric about getting on as an advertiser - eric AT adult.comComment
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As rule of thumb never spend more than 5% of your net worth on a car.Comment
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Jealous much?Originally posted by Saeun
No sig.
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This is how we roll up here in the "519"
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threads like this are my favorite ones and if there werent such thread here i would never come to GFY anymore
seriously, i love threads discussing different attitutes towards money/spending habits/lifestyle/life choices/investments etc
btw what happened to Andrej NDC?I don't use ICQ anymore.Comment
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ICQ 557504926Comment
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If you dont have the money dont buy it...
A certain SNL video comes to mind i suggest you ALL watch:
http://www.youtube.com/watch?v=MxFx0NzSjWw
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lease for 24 months, pay $1,800 a month on the thing then fucking give it back and get yourself the new version.
only a fucking idiot buys a 100k car.★★★
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leasing is so much betterComment
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whats up with all the "your car will loose value" ? of course it will loose value, cars ARE NOT an investment, I look at it as a hobby... some people are into buying art, some into spending on drugs, some go on trips every fucking month, some like to collect old coins, etc, etc.... you live once, so might as well enjoy it while you can afford it, do you want to drive that brand new bmw/benz/porsche/rari when you're in your 20's or in your 40-50's (if you live that far) ? i agree tho that blowing ALL your money isn't a good idea, but if you somewhat can afford it, you should do it and enjoy it....Comment
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Remember this, and remember this well:
By the time you can afford it, the car ain't important.Comment
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Nothing, I'm just not active on boards anymore. I made a test what influence it has on my income and it has gone up since then. Spending more time with work. Or better said, with thinking about where to make more money.
btw a friend sent me to this thread, because someone mentioned me. I will go back to work at NDC again, so excuse me if I don't follow the next replies. I will be on ICQ.
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I have never bought anything financed in my whole life so I have to say no.Skype Horusmaia
ICQ 41555245
Email [email protected]
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i would lease it personally if you can. financing that price of car is going to run you about $1500 to $2k a month in payments depending on your credit and how much you put down.
remember a car is a depreciating asset. if its new and you spend $100k in a year it will be worth $75k and you will of probably only paid less than $10k to principal. with a lease you can probably put down a little less, and be close to break even at all times.Email: Clicky on MeComment
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i paid 470k$ for my f430 spyder i like usa prices
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Fun thread
Judging by some replies, you shouldn't buy a 100k car, unless you have 10x that in the account. That would mean in theory, that a person buying a $30k car should should have $300k liquid. That's pretty laughable!
I personally prefer to lease. Almost every lease I've had, I've bought out at the end and turned a profit. With my Z I just got rid of, I owed $14k and pulled $21k at the end. Sure it's only $7k profit, but it covered some quarterly taxes
With my new X3 I just got, I went to swapalease.com. The car had $2k miles, was an 08, has a 50k mile warranty and free services, and the guy gave me $3k incentive. After the $3k check, my payments on a $45k car ended up being only $460 a month. he got rid of it because he got a company car just 2 months after he leased the car, and he had to off it fast.
Now, with what he put down ($3500), the buyout is relatively cheap if you estimate the value in 3 years. Once again, I'll probably buyout, and resell for a small profit.
On the flipside, a BMW lease is transferrable, so if I ever can't afford the payments, I can transfer the lease to a willing party. The same goes for a car of any value. If you know how to manage money, you can live a nice lifestyle with enjoyable material items..and still have plenty set aside in savings.
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