help me find a WW Evo :P
Having $20K in cash is not a terribly wise investment strategy. If you put 30% down and invested the other $14K you might be able to get a solid 4-5% interest out of it while remaining liquid. And with 30% down your interest rate should be in the 4-5% range.
Dumping all $20K into a depreciating asset with zero liquidity...... brilliant!
Why not dump all your money into the IPO of Tesla motors? Another awesome investment if ever there was one.
If you being able to lord "at least I own my car outright" is some sort of power play or tribute of self importance, then save it for somebody who cant see through the smoke and mirrors of your "investment strategy"..... its a weak argument at best.
And Yahu absolutely didnt call you a *****.. He's far to nice of a guy.
Dumping all $20K into a depreciating asset with zero liquidity...... brilliant!
Why not dump all your money into the IPO of Tesla motors? Another awesome investment if ever there was one.
If you being able to lord "at least I own my car outright" is some sort of power play or tribute of self importance, then save it for somebody who cant see through the smoke and mirrors of your "investment strategy"..... its a weak argument at best.
And Yahu absolutely didnt call you a *****.. He's far to nice of a guy.
For one my driving record is not the greatest. ok probably the worst here lol. So yes I only carry liability.
What difference does it make getting a loan and being in DEBT with it, rather than saving and buying one out right. to me im pretty sure thats way f'in smarter. The economy sucks because EVERYONE owes so much $$.
"Dumping all $20K into a depreciating asset with zero liquidity...... brilliant!" This makes no sense. YOU GOTTA PAY IT EITHER WAY.. lol
dude why are you even talking? there is so much more that you dont even need to know about why I buy a car outright.
For one my driving record is not the greatest. ok probably the worst here lol. So yes I only carry liability.
What difference does it make getting a loan and being in DEBT with it, rather than saving and buying one out right. to me im pretty sure thats way f'in smarter. The economy sucks because EVERYONE owes so much $$.
"Dumping all $20K into a depreciating asset with zero liquidity...... brilliant!" This makes no sense. YOU GOTTA PAY IT EITHER WAY.. lol
For one my driving record is not the greatest. ok probably the worst here lol. So yes I only carry liability.
What difference does it make getting a loan and being in DEBT with it, rather than saving and buying one out right. to me im pretty sure thats way f'in smarter. The economy sucks because EVERYONE owes so much $$.
"Dumping all $20K into a depreciating asset with zero liquidity...... brilliant!" This makes no sense. YOU GOTTA PAY IT EITHER WAY.. lol
What Ryan is saying is absolutely correct. Do any of us listen to that sort of advice (including Ryan). Most of us probably not. What he is saying is that a lot of people can get a low interest loan (especially in this economy, which you keep referring to) and invest a large chunk of that $20k you have in hand. Putting 100% of your cash into a well known depreciating asset is not a smart financial move.
That said, you mentioned extenuating circumstances for yourself specifically which might make some of the above more difficult. That and most people with these cars (Ryan included) would "invest" the non-borrowed money into some good ol' fashioned go-fast/look-fast parts.
I know plenty of people that don't want the burden of a monthly payment, plus the fact that there are insurance flexibilities you can get away with when you own the car outright. It may make sense to them, but it doesn't make standard logical financial sense. Again, most people don't follow the standard logical financial sense.
lets just say if i had full coverage insurance it would run around 800 a month 
and for highest liability its $180. har har
there for, a loan is outta the question!
and for highest liability its $180. har harthere for, a loan is outta the question!
Buy a low milage IX and take care of it. It is not nearly as bad of a depreciating asset as some in this thread would have you think. I used to drive a 3rd Gen RX7 and recently looked into buying another one (and the nice ones seem to be holding their value). Any car with a cult following will always be in demand. I bet the same thing happens with the IX's.
Try South Coast Mitsubishi in CA. They likely have or can find what you are looking for and have a very good reputation for reasonable pricing.
http://www.autotrader.com/dealers/dd...er_id=53927138
Try South Coast Mitsubishi in CA. They likely have or can find what you are looking for and have a very good reputation for reasonable pricing.
http://www.autotrader.com/dealers/dd...er_id=53927138
Last edited by nemsin; Feb 2, 2010 at 01:25 PM.
Thanks Chris
Seriously, nice work on the pickup! All the best on finalizing the deal! Let us know when you'll be out here and maybe we can do a little meet somewhere so some of us westerners can meet you.
