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- Aug 9, 2019
- 269
- 611
Hi all.
I have been thinking of getting a car because I need it for my new business that I started 2 month ago which is in the medical beauty machine industry. So far, business has been great and I have made 200k in turnover and 65k in profit in 2 month from an investment of just 60usd. The thing is, I am a struggling med-student who are used on living on 1.2k a month for the last 3 years so I have no expenses what so ever. I also feel a little bit of hubris creeping up due to the early success and have start to look for more expensive cars.
Now, cars is a bad investment but I need it for my business so it needs to check a few boxes.
Decent transport capacity
Good to drive for over 2 hours
Representative
Can drive on snowy roads
The cheapest one I can get that checks all the boxes cost about 7k.
However, due to Covid, there are alot of cheap Porsche Panameras out there which I can get for 16-17k which is one of my dream cars and it lets me save 2-3k from where it not a Pandemic.
View: https://www.youtube.com/watch?v=EAezax2ugQU
I will lease/get a loan for the cars so the montly expense will be about 65usd for the cheap one and 140usd for the expensive one. And it lets me have more liquidity in the business.
Insurance will be more or less the same for both since I have a great deal through my insurance firm.
I still have a "students mindset" and Im counting every cent and I know its crazy to get the expensive one, but still. Its not that expensive, its on sale, and it might be possible.
So yeah, my question is when is it time to spend a little on yourself when your business has taken off?
I know I will probably not make any sales in about 6 weeks now due to the new vaccine but in spring, I will probably sell like a madman to everyone who has waited to invest in their business.
I have been thinking of getting a car because I need it for my new business that I started 2 month ago which is in the medical beauty machine industry. So far, business has been great and I have made 200k in turnover and 65k in profit in 2 month from an investment of just 60usd. The thing is, I am a struggling med-student who are used on living on 1.2k a month for the last 3 years so I have no expenses what so ever. I also feel a little bit of hubris creeping up due to the early success and have start to look for more expensive cars.
Now, cars is a bad investment but I need it for my business so it needs to check a few boxes.
Decent transport capacity
Good to drive for over 2 hours
Representative
Can drive on snowy roads
The cheapest one I can get that checks all the boxes cost about 7k.
However, due to Covid, there are alot of cheap Porsche Panameras out there which I can get for 16-17k which is one of my dream cars and it lets me save 2-3k from where it not a Pandemic.
I will lease/get a loan for the cars so the montly expense will be about 65usd for the cheap one and 140usd for the expensive one. And it lets me have more liquidity in the business.
Insurance will be more or less the same for both since I have a great deal through my insurance firm.
I still have a "students mindset" and Im counting every cent and I know its crazy to get the expensive one, but still. Its not that expensive, its on sale, and it might be possible.
So yeah, my question is when is it time to spend a little on yourself when your business has taken off?
I know I will probably not make any sales in about 6 weeks now due to the new vaccine but in spring, I will probably sell like a madman to everyone who has waited to invest in their business.
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