If Everything Works Out!!!

[Chevyaudio 5,000+ posts]

Too many miles...I am holding off. I love my $205 a month truck payments //content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gifProbly keep the truck for another 6 months and try to look again.

cool....My silverado is stripped to the bone right now. PICS later. re running some wire, that way everything is ready for this weekend. Also Im going to have the RL-p's in this weekend, because the BTL is still being built.

 

[Johnny Drama 5,000+ posts]

average does not equal consistent...two different things.
For instance, you may have been up 20% one year, down 10% the next. If you withdraw at the end of the cycle, you won't have the same gain as if you did 10% then 10%

Here is an example:

I invest $1.

1st year -- 20% gain = 1.20

2nd year -- (10)% loss = 1.08 (providing you cashed out the 20% gain, if you didn't you would have .90)

1st year -- 10% gain =1.10

2nd year -- 10% gain = 1.21

See how that works?

Your example requires consistent compounding not average compounding

I understand how it works. I was using it as a quick example.

cool....My silverado is stripped to the bone right now. PICS later. re running some wire, that way everything is ready for this weekend. Also Im going to have the RL-p's in this weekend, because the BTL is still being built.

I'll be ready to start building...

 

[MikeofTulsa Moderator]

i'm hoping to be in the market to buy a house in the next yr or so. hoping all goes well.

 

[iceteebone 5,000+ posts]

i'm just hoping to have somewhere to live. living with my sister/or parents doesn't cut it anymore //content.invisioncic.com/y282845/emoticons/frown.gif.a3531fa0534503350665a1e957861287.gif

 

[Flipx99 5,000+ posts]

I understand how it works. I was using it as a quick example.

Cool, I want to make sure your broker doesn't have the wool over your eyes or something. I know very little about car audio...I do know quite a but about finance...unless you compare me to rmsanger (who doesn't frequent the board much anymore)

 

[brandontw 10+ year member]

yeah i made 18/hr for a while and i still didnt have enough money, and my rent is only 300, and all of my other bills added up to about 200, so my bills were only 500 total, so i had well over 1000 "spare cash" and it still dissapeared... and I own my car

 

[MikeofTulsa Moderator]

n/m

 

[SirSyko 10+ year member]

Sorry to burst your bubble but F430s are on backorder and there is a huge dealer markup. You are going to be spending close to 240k. I wouldnt suggest a Ferrari to anyone with descent income anyway.

 

[Pl8er 5,000+ posts]

For some reason I can't get this thread out of my mind so I called my financial advisor about this to see if in reality this could happen (17 year old buying a 60-90,000 dollar car). She told me that without a HUGE (roughly half of the total 30K) down payment its basically not possible. No bank is going to back that kind of money. Her only client right now that can afford this type of vehicle (price range) makes roughly 135,000 a year and she approved him to buy a BMW M6 (97k).

I don't think an insurance company would cover an 18 year old in a high performance sports car either.

Keep dreaming though, it gives you something to set your sights on. I know that sounds harsh, I really don't mean it that way. People on here may give you crap and call you stupid, but if you REALLY think you can do it than work hard and set a goal.

 

[Johnny Drama 5,000+ posts]

For some reason I can't get this thread out of my mind so I called my financial advisor about this to see if in reality this could happen (17 year old buying a 60-90,000 dollar car). She told me that without a HUGE (roughly half of the total 30K) down payment its basically not possible. No bank is going to back that kind of money. Her only client right now that can afford this type of vehicle (price range) makes roughly 135,000 a year and she approved him to buy a BMW M6 (97k).
I don't think an insurance company would cover an 18 year old in a high performance sports car either.

Keep dreaming though, it gives you something to set your sights on. I know that sounds harsh, I really don't mean it that way. People on here may give you crap and call you stupid, but if you REALLY think you can do it than work hard and set a goal.

Call her back and ask her if she would insure a 40 year old with a credit score of 700 and a debt to income of less then 15%...Then tell her the car is a '97 year model...see if she would finance that.

Like I said earlier, it not him having the cash, its him getting the financing like you stated. Too many things are hindering him here.

 

[bigbangtheory 5,000+ posts]

Some kids these days. It is really sad actually that some kids are like this. I was driving in a flintstone car with a shitty system and living at home and still made half way decent money. I was saving up for a house though.

 

[Pl8er 5,000+ posts]

Not to mention that although Ferrari's are fast, they are not the most reliable cars on the planet. I believe the enzo needs new breaks every 10k or something crazy at around 18k a pop? My numbers are a tad off, I am trying to remember from a magazine from last year.

Its good to be young and full of ambition though. Of course next year he is going to have a picture of him standing in front of the car with a sign and we will all have to ask where we went wrong LOL

 

[acold7dusta 10+ year member]

ignorance is bliss //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

 

[pitbull12888]

maybe ill write a rap and make $54707507 billion lol

 

[maldecido33 10+ year member]

One thing I would like to know is what the f*ck company hands out bonus checks of $2k+ every couple months. Surely that's a pretty surefire way for a company to go bust? Especially since they only pay $16 an hour, which indicates its not a big company.

my dad gets bonuses ranging from as low as 15k up to the highest (that i know of) 50k quarterly (lawyer in a partnership)

not trying to brag, just disproving you