Hi guys, Wanted some advice on here considering many of you are very clever on the subject of cars, money and nice lifestyles. I am approaching 30 yo, have a GF and I have recently bought my own house (2008) and have a little Corolla that is late model, drives nice but boring for me as I used to drive a Nissan Skyline which I loved but sold prior buying a house because I wanted to badly get into real estate investing. Now I am wanting to sell my Corolla and buy a sportier Nissan Silvia (4 cyl turbo, rear wheel drive). I know that once I buy the Nissan, it will be much harder to sell it down the track and the value will probably drop off quicker. Reason being is I want to accomplish a number of things within the next 5 years: 1. Within 2 years, I want to go to Europe for a big travel tour (will cost me about 10 grand) 2. Within 3 years I would like to buy a second property for investment purposes and need around $60,000 for a deposit. I know I can use equity in my existing house to fund that. I feel complete at the moment, owing my own place (i do pay mortgage though) but the whole car thing has been playing on my mind. Do I get rid of the corolla and buy a sporty 2 sitter coupe or do I stick with the corolla which is more a family car. I know that I wont be able to afford an F car or even Nissan GTR within the next 5-10 years well unless my side business kicks off and my day job starts paying a bit more... lol Just wanted some of the more mature guys to shine more light on this. Thanks Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
Push the car thing if you think you can swing it. Money isn't finite so it's up to you to fulfill your dreams with more of an entrepreneurial way to earn more of it. Good luck.
Big missing x in this equation is your career and earning potential. You have questions based on $ values of the things you want to buy without indication of what you're bringing in. I'd suggesting posting this to the Business and Investment forum (or having it moved) and then give more data on your actual situation. Consider if I came and asked, "I'd like to buy a Stradale for $150,000, but am considering a Testarossa for $50k for now and I want a second house in 2 years. Is this a bad move?" IMO real determining factor on this being a bonehead move or not is whether the person makes $30k a year or $300k.
