what would you guys do with this kind of money?

[Taco15]

OK so my car plans took a turn for the "WTF happened here" in a day. WHEN I have money in hand for my Sti the plan was to buy a reliable Acura for cheap.
Sti sold = $29,500~ to play with.
RSX was $3500. This would have been my daily and only car.

I still want a nice car to show off and cruise...silly but hey...it's me and my pleasure. Weeks before I was watching a beautiful Grand national Turbo T with 65k. SOOOOO I was thinking of using most if not all the money and finance the rest for stupid low payments and pay it off when I have the rest. But it was 'sold' before I could get money. I gave up on it.

fast forward to yesterday.
Acura was wrecked by some old lady pulling out in front of my buddy and the Turbo T is back on the market....WTF. lol. Acura is now being parted out since he can make more than money that way. I don't blame him. I didn't want a fixer upper and my sierra is still running good.

SO NOW I ASK YOU FELLAS
What would you do with $29,500 if you had an itch for something nice. Doesn't' have to be the fastest but definitely not something with the speed of a snail. For now I'll keep my Truck. now for the temptation so you guys know what I'm talking about.
https://www.flickr.com/photos/kingschariot/sets/72157644699836084/

I wanted to start a business but I can't think of anything that I want...which would survive in this town. Also, keeping it in the bank is a possibility for a house but I've got no problem selling the car when it's time to buy one. Plus, the place I'm at now will be my parents soon since they are paying the mortgage and I pay no rent. yes I'd love a house of my own but not in a hurry to leave a 3 bed 2 bath with fenced in back yard.

 

[double0Si]

Buy something LSX powered. Camaro, Trans Am, maybe GTO or Vette... Install STS turbo system. Profit.

 

[Taco15]

I've looked at some Chevelle bodies, some Nova's but I don't want to do another build just yet. Next build will certainly be a turbo LS motor of some sort. In this case I want to get something which someone else has already spent the money on parts and labor to build. This is a car I've always loved a kid. It's one of those cars that I never grew out of. plus, with a precision 6466 it's still fun. also with original paint and low miles it's still a decent invenstment I can always get out of.

 

[TurboMirage]

That GN is sooooo hot. How much is it?

 

[get_nick]

If I had $30k burning a hole in my pocket, I would get either an E46 M3 (you can easily find them with 60k miles for under $20k) or I would get a newer M235i.

But since you love subarus, why not just finance a brand new STI and stash the cash?

 

[Briansol]

IMO, it's time to grow up a little bit.

Do you have a 401k/roth ira with 50 grand in it? if you're 30 and don't, you're on the track to becoming a walmart greeter.

IMO, take 10 of it and put it down on something reliable and kinda new, like a 3 year old cpo'ed 335i or something. you'll have a modest ~300 ish payment on the rest of it and still have 20 grand to put away/put in the market.

and who the hell is paying new retail for a 10 year old sti? i don't care what is done to it....

 

[Taco15]

a broke ass under 25yr old country boy who just won 1.5mil on a $10 scratch off. lol. He always pissed away half of it on a new sting ray, pro charged NEW chevy truck to tow his new jet skis and new boat. He knows about my car and asked how much it would take for me to part with it. so I gave him a number and he agreed. it's supposed to sell tomorrow or Monday.

 

[Taco15]

I thought about a new base WRX 6 speed, lower it and put wheels and that's it. with my discounts it would be cheap. 20k down would be $150 ish payments. that makes the best sense but that damn black car is calling my name. and yes B I do have a 401k..no 50k in it but it's there.

 

[Taco15]

For a daily the Sti would be overkill. :/ not worth it to me. on the streets the WRX is just as fun

 

[get_nick]

I was going to post something along the lines of what B said, but what you do with your money is up to you. I have a great 401k and stock trading account because I drive a reasonably price 330ci. If you are set for money, savings, etc, then spend away. But I would still get the M3, m235i, or stock STI if I were you.

 

[get_nick]

I thought about a new base WRX 6 speed, lower it and put wheels and that's it. with my discounts it would be cheap. 20k down would be $150 ish payments. that makes the best sense but that damn black car is calling my name. and yes B I do have a 401k..no 50k in it but it's there.

Why would you put so much down? interest rates are cheap. Just get a loan at 2% and invest at a modest 5%. You're literally wasting money.

 

[Taco15]

the turbo T is beyond what I'd want to pay but I personally know someone who does business with them and knows the owner on a personal level as well. Ebay listed for $32,500 but it's been up for a long time. If I can score it for less than 30 I'd be a player. That way I can finance a small portion. Keep my truck as a daily and have a toy for those weekend cruises

 

[Taco15]

$250 is really the most I'd want to pay per month for a car. right now my payments have been $230 with the white Sti. ohh and that $29.500 is AFTER I pay Casper's loan off. lol.

I agree with you that rates are super low. We've been able to get 1.99 up to 72 months. It's more of what I feel comfortable with my job. i pay extra when i make a good month but just want to be safe for those crappy months, ya know?

 

[get_nick]

If you have your heart set on that BGN, then by all means, buy it. I think they are awesome cars. Nobody will sway you away from what you want. If you want reassurance that it's a cool car, then you've got it.

 

[Taco15]

i guess i need some outside advice from the people who have made it....like made it through the 'phase' and now have houses and such. I'm 30 and feel like life is too short to NOT get you want you want at times. It's not gonna bankrupt me and I'm confident i can sell when needed and get my money back. plus, all this money is straight up profit. It all began with the Acura. i only paid 2500, got $6,500 for it towards the Blue WRX, then that turned into a 10k profit when i wrecked it and put towards Casper. Now this is the motherload of all flips! the profit has just been getting bigger allowing me to afford better more expensive cars without me actually digging into my bank account.

I still have plenty of money in savings.

 

[invisibledemon]

lowball the GN, and if they accept, list it for sale while enjoying it on the weekends. only sell if you get a profit.

personally, i like them, but i wouldnt buy one. chances are you'll wreck it or it will get stolen. those are stolen pretty often if i remember correctly.

buy a used nice luxury car.

 

[Jeef]

F the car, buy a house while the rates are still cheap.

 

[phunky.buddha]

Yeah don't piss it away on the Grand National. You won't be able to buy it and just drive it- you'll have to maintain and feed it, and no matter how you look at it, it's a few generations old and has the engineering and problems that go with that kind of age. Get something reasonable and invest the money in something that will pay you back.

 

[reckedracing]

My best advice is to talk to your insurance agent before buying a 30k collectors car.
You better make sure that car is going to be fully covered for replacement cost if you wreck it, or it gets stolen.
I have to point out that cars make horrible investment vehicles from a historical perspective.
I also feel its a little too much "eggs in one basket" for a balanced investing approach.
I also think that you should seriously consider a newer vehicle that has better technology and safety equipment. The life you save just might be your own.

 

[hondarin]

Plan 1:

-Older Accord Coupe EX manual
-H22 swap
-I/H/E, ignition upgrade, tuning
-Swap the 5th gear from the Accord transmission into the H22 transmission
-Coilovers
-Lightweight wheels and performance tires

Comfort, style, reliability, 0-60 under 6 seconds, good mileage (with Accord 5th gear), and you can invest the other ~$19,500 however you want.




Plan 2:

-Newer Accord Coupe V6 manual
-I/H
-Coilovers
-Lightweight wheels and performance tires

Comfort, style, reliability, 0-60 under 6 seconds, good mileage, and you can invest the remaining $14,000-$20,000 however you want.