Quote:
Originally Posted by BlaqWhole
Or silver, gold, land, property, or buying out a failing business. Or simply just having the money sitting somewhere for now. But that would only work if he has the $70K in cash. For most of us it would be a loan. And taking out that kind of loan now on something is not too good of an idea. I say wait until the repossessions and evictions start. Then see where the prices for new cars end up.
Also, if he had a SS and was upgrading then I would say go for it. But he already has a ZL1 that I'm pretty sure he doesn't owe $70K on. So it wouldn't be prudent right now to trade in for the same thing just because his was a used car purchase and this one is brand new and it has a few extra electronic features and apps.
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Says the guy with 3 cars & a sport bike.
Had an SS, then a Z, & probably soon another one. All my only DD at a time.
Maybe I have all those other things, or not, doesn’t matter.
Maybe I don’t want to wait to take advantage of other people’s misfortunes because I don’t define myself by that, or what I own, but by my works & what I provide for people & how satisfied they are with those works. In return I am blessed with being able to afford my very first new personal car. Not my business’s, not my wife’s, but my own.
For the record I could easily pay cash for this car & keep mine. Seriously. That would, however, set us back on other things that I I have planned to use that financial liquidity on to make more money, or pay off my house faster, or… on & on. To finance $30K on a $70K vehicle is, as a model of percentages, no different that <$15K on a $30k, or <$10k on a $20k one so I’m quite comfortable in doing so.
Thank you for your concern of my financial stability, but it’s not your call.
Quote:
Originally Posted by Chutzpah
Some of that is to be expected… just the way it is.
As far as the OP, he works hard has $ and wants a new car, with a longer warrantee. I see nothing wrong with what he wants to do.
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Thanks man. I appreciate it.
Funny story; When I got my ZL1 my employees were checking it out & one that’s quite cheeky told a story “A boss came to work one day with a new car. He looked at his admiring employee & said, “If you work hard every day & dedicate yourself to doing great work, one day I might be able to buy another one.”
I looked at his grinning face, cracked a slanted smile, raised an eyebrow & said, “Maybe so. Now get back to work.”