Car advice and update!

[lightweight99]

Hey everyone!

Been some time since I've posted. Summer classes, business plans, 40+ hour work weeks, and my girlfriend have been consuming life lately. To the point now, I own two very fast cars: A Subaru WRX STI and a C6 Z51 corvette with $10,000 in engine work. Both cars are 2005's and eat gas/ insurance, although the corvette is cheaper surprisingly.

I own both cars and now I'm ready for a luxury automatic that gets great gas mileage and is cheap on insurance. Essentially I reached a point where I saw myself just throwing money out the window on material possessions, and those which require much upkeep, thus eating at my home depot salary. I am in the process of trying to sell both cars but such modified cars take awhile to sell.

After some research I decided either a used honda civic or hyundai would be a decent choice, but after more research they're seems to be many issues with both companies essentially giving their buyers the finger with many power-train issues. My goal is to sell both vehicles and purchase a used car for $10,000 or less. On the flipside I can buy a new $20,000 hyundai cash and get a 10 year 100,000 mile warranty( which is questionable as many issues have been reported and not covered or voided )


I'm looking for some insight on this ridiculous material possession scene, advice, and/ or recommendations.

Big update! Recently found a group of venture capitalists which are entertained by my business idea, thus the huge business plan I am working on for them. Only downside, they get a chunk of the company :nonod: It's a start though!

:smx19:

 

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[MJ DeMarco]

On the flipside I can buy a new $20,000 hyundai cash and get a 10 year 100,000 mile warranty

Is it possible to find a 2-year old Hyundai and still get the remaining warranty? A 2 year old car will take the depreciation hit from the original owner saving you $1000's.

 

[hatterasguy]

Mercedes diesel. If their is a better car than a Mercedes I don't really care.

 

[emorgan]

Word. Cars are my thing. If you can pay cash for one- do it. If not, grab a loan based on what you want to pay each month first from a credit union or what have you. Then go look for a great car in your price range. You'd be surprised at what you can find.

If you want a warranty, you'll pay for it. Or if you are shrewd, you can find a great car in your price range that will serve you well- with or without a warranty.

What do you really need right now? Buy cash based on that- if you buy well, you may be able to turn around and sell it for money when you are ready to move on- and until then, you won't have a car payment= more money to invest with.

You'd be surprised what you can find looking at cars.com or just driving around. Find what you like? Bring cash with you to look at it, less then the asking price, to make an offer on the spot if you like it. If you aren't good w cars- have someone with you to check it out before you make the offer. Deal done? Head to bank, get title then and there- that's your bill of sale.

When you're financially free- dude- buy what you want. Until then- who cares what you drive? It should serve two, maybe three purposes:

1- get you from point A to point B
2- not be a liability that takes money out of your pocket
and 3- maybe even make you money if you do it right

My two cents-

 

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[lightweight99]

Thanks for the input everyone, appreciate it. I know what kind of cars I'm looking at in the $10,000 range so that's not a problem, just wanted to hear everyone's opinion on the matter.

:smx9:

 

[hatterasguy]

A 2000-2002 E320/430 will also serve you well. The last year of the W210 was very sorted out. I would lein more towards one of those than an early W211, I'd stick with 2005+ for one of them.

Also since this is a financial forum, pay cash, money should only be borrowed for investments.