|
|
#121
09-06-2007, 04:41 PM
|
|||
|
|||
Re: How much to spend on a nice first car?
[ QUOTE ]
2008 Corolla S= $18,500>>> perfect car imo [/ QUOTE ] listen to mom. I bought a new cavalier in '95 for 11k. Drove it for 12 years with hardly a problem. I got every bit of my moneys worth. You get the benefit of a nice, reliable car and your money working for you. (poker/investments) If you keep hitting it big, in 3-5 years you can move up with more security. 
|
|
#122
09-06-2007, 04:56 PM
|
|||
|
|||
|
Re: How much to spend on a nice first car?
[ QUOTE ]
[ QUOTE ] 150k net worth, making about 25k/month conservatively - 50k/month average. 21 years old. Few expenses. Most of the money goes into investments at this point. What would you guys recommend? I tend to be nitty about big purchases. I was going to wait until I had 200k locked up in investments, but this thread is making me change my mind. [/ QUOTE ] How many months is this average based on? I have a hard time reconciling what you've just posted. [ QUOTE ] The most important factors are safety and girl-attractiveness. I like the look of the lotus elise, but I'd think too many people would think badly of me because of it. [/ QUOTE ] Range Rover / 7 series. Sports cars are generally not safe, the Elise in particular is not what could be considered above average in safety. J [/ QUOTE ] Seriously, how are people just raking in 25-50K a month easy, and yet have net worth of 150K? Uh, makes very little sense really.
|
|
#123
09-06-2007, 06:00 PM
|
|||
|
|||
|
Re: How much to spend on a nice first car?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] 150k net worth, making about 25k/month conservatively - 50k/month average. 21 years old. Few expenses. Most of the money goes into investments at this point. What would you guys recommend? I tend to be nitty about big purchases. I was going to wait until I had 200k locked up in investments, but this thread is making me change my mind. [/ QUOTE ] How many months is this average based on? I have a hard time reconciling what you've just posted. [ QUOTE ] The most important factors are safety and girl-attractiveness. I like the look of the lotus elise, but I'd think too many people would think badly of me because of it. [/ QUOTE ] Range Rover / 7 series. Sports cars are generally not safe, the Elise in particular is not what could be considered above average in safety. J [/ QUOTE ] Seriously, how are people just raking in 25-50K a month easy, and yet have net worth of 150K? Uh, makes very little sense really. [/ QUOTE ] When you start from busto and run good for 3 months it is.
|
|
#125
09-06-2007, 07:32 PM
|
|||
|
|||
|
Re: How much to spend on a nice first car?
People that say he can just sell his car later are being severely shortsighted imo.
First off, how often do people sell a car they completely own b/c they'd rather have the money? If he does, he'll have to go through a ton more time to sell the car at a reasonable value and find another car to buy. Each car transaction the dealer takes a reasonable percent. So the car will depreciate quicker throughout the process AND he'll have to buy again which will again depreciate. You want to minimize your car transactions since there's a lot of transaction costs. Second off, HOLY [censored] how are you going to spend so much money on a car when you have a car that works. People generally tend to view windfalls as a way to make their dreams come true or some [censored]. I view windfalls as a way to not be obligated to work for someone. You are going to be spending about 6-12 months of work for a car that won't give you too much pleasure. If you can get about 5% return after taxes on your investment (ie stock market), this additional 20k you want to spend will be worth about 140k by the time you retire. That sounds a lot better to me than a marginally nicer car. This is also ignoring increased insurance and maintenance which is the #1 thing people overlook when buying a car. And as other people mentioned, 100k isn't as big a windfall as you think.
|
|
#126
09-06-2007, 07:44 PM
|
|||
|
|||
|
Re: How much to spend on a nice first car?
[ QUOTE ]
The differing opinions tend to run linearly with age and value of money. Everyone who is older than 35 seems to convey Ray Zee's thoughts, and everyone under 23 seems to agree with KRANTZ. Nobody however agrees with good2cu [img]/images/graemlins/laugh.gif[/img] [/ QUOTE ]that's probably largely due to early 20s kids don't understand how much stuff costs in the future if you ever plan on having a wife/kids/house. Anyways, yeah awful idea to spend 25-30k on a car when your future earning potential isn't that stable/great.
|
|
#127
09-06-2007, 08:04 PM
|
|||
|
|||
|
Re: How much to spend on a nice first car?
captzeebo stop being a nit
|
|
#128
09-06-2007, 09:54 PM
|
|||
|
|||
|
Re: How much to spend on a nice first car?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] 150k net worth, making about 25k/month conservatively - 50k/month average. 21 years old. Few expenses. Most of the money goes into investments at this point. What would you guys recommend? I tend to be nitty about big purchases. I was going to wait until I had 200k locked up in investments, but this thread is making me change my mind. [/ QUOTE ] How many months is this average based on? I have a hard time reconciling what you've just posted. [ QUOTE ] The most important factors are safety and girl-attractiveness. I like the look of the lotus elise, but I'd think too many people would think badly of me because of it. [/ QUOTE ] Range Rover / 7 series. Sports cars are generally not safe, the Elise in particular is not what could be considered above average in safety. J [/ QUOTE ] Seriously, how are people just raking in 25-50K a month easy, and yet have net worth of 150K? Uh, makes very little sense really. [/ QUOTE ] mm, i think almost all online poker players do this. i can remember many times when i would go over numbers, calculate a recent hourly rate (from running good obv) figure that ill play 40 hours a week, then figure out how much id mkae a month, and say thats how much i make a month, while at same time its higher than my current bankroll. pretty standard.
|
|
#129
09-06-2007, 09:58 PM
|
|||
|
|||
|
Re: How much to spend on a nice first car?
[ QUOTE ]
I like the look of the lotus elise [/ QUOTE ] i used to think this car was super cool, then i test drove it. its a piece of crap. nothing on the interior, and its not even fast. it was one of the most uncomfortable rides ever. u can tons more bang for your buck with something like a G35 coupe. thats what i would prob get in that situation if im spending ~price of an elise.
|
|
#130
09-07-2007, 12:22 AM
|
|||
|
|||
|
Re: How much to spend on a nice first car?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] 150k net worth, making about 25k/month conservatively - 50k/month average. 21 years old. Few expenses. Most of the money goes into investments at this point. What would you guys recommend? I tend to be nitty about big purchases. I was going to wait until I had 200k locked up in investments, but this thread is making me change my mind. [/ QUOTE ] How many months is this average based on? I have a hard time reconciling what you've just posted. [ QUOTE ] The most important factors are safety and girl-attractiveness. I like the look of the lotus elise, but I'd think too many people would think badly of me because of it. [/ QUOTE ] Range Rover / 7 series. Sports cars are generally not safe, the Elise in particular is not what could be considered above average in safety. J [/ QUOTE ] Seriously, how are people just raking in 25-50K a month easy, and yet have net worth of 150K? Uh, makes very little sense really. [/ QUOTE ] mm, i think almost all online poker players do this. i can remember many times when i would go over numbers, calculate a recent hourly rate (from running good obv) figure that ill play 40 hours a week, then figure out how much id mkae a month, and say thats how much i make a month, while at same time its higher than my current bankroll. pretty standard. [/ QUOTE ]It's how much I would make per month if I don't play 200/400 plo or tilt and decide to play HU 100/200 nl.
|
 |
|
|
Linear Mode
