I'd do it. If the effects of it minimal to the lifestyle you live then do it.
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[Financial Advice] - Buy an e30M or just keep on the road of debt free?
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Originally posted by mrsleeve View Postop. I agree with farbin, but I also hate debt, if it were me I would finish paying off the house, I dont think a e30m will in decent shape will appreciate to 60k in the 5 years it will take you complete your primary goal. I will be 34 in 5 days, we have not a penny of debt in a while now
I also don't think that an e30m will hit the 60k mark in 5 years.
Jon
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Originally posted by markseven View PostWhat is your interest rate and term of the loan?
I feel your wisdom and discipline has earned you the leeway to buy THE RIGHT M3. If you are patient, buy the right car and care for it well, it will appreciate. The economy will dictate the size of the market (down economy = lower number of buyers), but it will be an investment.
If you wanted a new 7 Series, that would be a different story. Hehe.
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Was not easy, and my credit report still bares some scars from lessons hard learned but it will all be ok in the end.Originally posted by FusionIf a car is the epitome of freedom, than an electric car is house arrest with your wife titty fucking your next door neighbor.
The Desire to Save Humanity is Always a False Front for the Urge to Rule it- H. L. Mencken
Necessity is the plea for every infringement of human freedom. It is the argument of tyrants.
William Pitt-
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Originally posted by rturbo 930 View PostIf it's only a 1 year difference, I'd get the car. No point in saving money your entire life and putting off doing the things you enjoy... there's no guarantee you'll be around to enjoy it.
Having said that, the math still doesn't add up in my head. It still would be a 60k investment total.
JonLast edited by bimmerman89; 07-12-2014, 08:45 PM.
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Originally posted by Kevinl View PostI like dave ramsey but whats the point in having money if you dont have anything you can spend it on
Jon
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Being debt free in a time of historically low interest rates is silly.
Carry a comfortable debt load and invest the rest. You may sacrifice some short term piece of mind, but it'll make a huge difference when you retire. Debt free is better than debt crushed, but leverage is a tool that you should use.
Whether you get the E30 M3 or not is a separate question, but paying down debt only makes sense if you don't have better things to do. The only real reason why a paid down house makes sense for many people is that they will blow all their money if it isn't locked up in a relatively illiquid asset.2006 GMC Sierra 2500HD 4WD LBZ/Allison
2002 BMW M3 Alpinweiß/Black
1999 323i GTS2 Alpinweiß
1995 M3 Dakargelb/Black - S50B32/S6S420G/3.91
1990 325is Brilliantrot/Tan
1989 M3 Alpinweiß/Black
Hers: 1996 Porsche 911 Turbo Black/Black
Hers: 1988 325iX Coupe Diamantschwartz/Black 5spd
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ah yes the american dream to live in debt up to your eyeballs and indenture your self to the bank for some stuff... yup thats the way to liveOriginally posted by FusionIf a car is the epitome of freedom, than an electric car is house arrest with your wife titty fucking your next door neighbor.
The Desire to Save Humanity is Always a False Front for the Urge to Rule it- H. L. Mencken
Necessity is the plea for every infringement of human freedom. It is the argument of tyrants.
William Pitt-
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Originally posted by nrubenstein View PostBeing debt free in a time of historically low interest rates is silly.
Carry a comfortable debt load and invest the rest. You may sacrifice some short term piece of mind, but it'll make a huge difference when you retire. Debt free is better than debt crushed, but leverage is a tool that you should use.
Whether you get the E30 M3 or not is a separate question, but paying down debt only makes sense if you don't have better things to do. The only real reason why a paid down house makes sense for many people is that they will blow all their money if it isn't locked up in a relatively illiquid asset.
I want the freedom of knowing that i don't owe anything, and that anything i want and need can be purchased outright.
I guess what i'm saying that is i just don't understand why anyone would borrow to buy something that they clearly can't afford. The only reason i bought a house to begin with was due to the fact that interest plus utilities were still adding up less than us renting an 1 bedroom apartment.
JonLast edited by bimmerman89; 07-12-2014, 09:37 PM.
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Originally posted by bimmerman89 View PostI guess what i'm saying that is i just don't understand why anyone would borrow to buy something that they clearly can't afford. The only reason i bought a house to begin with was due to the fact that interest plus utilities were still adding up less than us renting an 1 bedroom apartment.
Jon
Some of these are speculation, but regardless any investment is a risk.88 325is - S52 powered
Originally posted by King ArthurWe'll not risk another frontal assault, that rabbit's dynamite!
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