sports luxary car a good investment?

[IgnoreMe 5,000+ posts]

ehh i agree on being aable to get done on the charger new but a used bmw or cobra will be harder.....and 7k down on a 40k dollar car is nothing....not even 20%

you can get cobras from dealerships and private sellers for less than 25k though.

 

[DBDRAGGUY 10+ year member]

Whatever you buy, I recomend paying cash for it.Not a good idea to finance a car with little to no credit history.This way if you are unhappy in a few months or a year you can sell it and upgrade to something new.

 

[quest51210 10+ year member]

lol imo the hhr and the scion xb are the 2 ugliest cars out. the truck on the other hand is nice

to each their own

i also just joined the military, let me tell you on what i plan on doing.
i'll be getting 12k up front, i'm putting ALL of this in a mutual fund, ALL OF IT. let me tell you about the rule of 72...

take the percent of interest you earn and divide 72 by that number, lets say the MF is 12%, so in 6 years i have 24k, 12 years i have 48k, etc.

but thats just me //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

already told him that, but if you dont diversify the rule of 72 wont matter much. unless you are getting into a preset fund.

well, why not just save the money and buy an old crx or civic or some thing? you can pick some up forlike 1-1.5k. that way you got more money to spend on the truck.

i have the truck, hhr, and a 2002 lexus GS300. they are all paid off...i am not complaining. i have my luxury, my daily, and my toy. i started investing very young and my stocks in exxon mobil have allowed me to do very well.

 

[Jmac 10+ year member]

since you probably won't get much of a chance to drive the car, I would just invest the money. Go to a credit union near you and see what kind of high-yield accounts are available (money market accounts are in the toilet right now, but when I talked to my banker recently, she showed me some accounts (special type of CD iirc) that had 4+% interest rates and you could choose a 6,12, or 18 month term to leave your money in there (obviously, a longer term means a higher interest rate). Put all of the extra money you earn into accounts like this, and when you get out you can go buy a nice sport-lux without financing it. Buying a car (other than a collector) is one of the worst financial investments out there. And since you probably won't have a chance to drive the car, there's no "happiness" return either. No sense in buying a car now to let it sit for several years. When you get out, you'll have more money to buy the car you want, and the cars you're looking at now will be cheaper.

Some of th best advice anyone has told concerning finances but one of the main reasons i want to finance is to build my credit. the car will be driven my other vehicle wont be driven either while im at bct and ait

How do you figure ? The average rate of inflation over the last 4 months has been 4.2% and that figure only looks to be heading further north this year. Basically, you'd end up gaining nothing by investing into a savings account ...