$15k: invest or buy a car?

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Hi BITOGers,

What would be a good use for $15,000?

I drove the 9.5 years old Toyota last week for 1,800 miles and it handled pretty well, so I postponed my new (to me) car purchase
I'll just "shoe" her Friday with snow shoes.

So that leaves the 15,000 piggies not working.

What should I do?

Thanks for all suggestions, good, funny or crazy

Have a good one!
 
A $15k new car isn't going to have much on the Yaris, except far superior depreciation...
A $15k used car has more interesting possibilities, if you want something sportier, or smoother riding. But I can't think of a used car that would save any significant money for you.
 
Maybe find something like a used Yaris in good shape. I purchased a 2006 xB that has the same sturdy engine as the Yaris. With brand new tires, all the fluids (BITOG membership requirement), taxes, registration, insurance and miscellaneous expenses I'm into it for just over $4,000. I treated the search as a job and spent 2 months looking at various Scions and Toyota, Hondas, Mazdas and even some mini-pickups.

Investments don't pay much and are not much fun to drive and won't carry groceries home and might be headed for a correction (financial speak for a "crash").

It sounds like you're not in a panic so do some looking and you'll find that gem that calls out to you. You just have to find it. I kept a spreadsheet, made lost of calls, drove some of the candidates and did a lot of Internet research on various models. For me, the 2NZ-FE engine was one of the positives.

My new to me, 2006 Scion xB (131 on the odo) has now been renamed by my wife. It's an "xBox", or sometimes "the Box". It looks like one and is actually fun to drive with that 5-speed manual transmission.

Keep looking. One day very soon some car will speak to you. It's out there waiting for you and it needs an oil change, too.
 
Originally Posted By: Virtus_Probi
Investing right now is tricky with everybody saying the stock market is way overheated while it still keeps going up, up, up...


They said that 3 years ago.....



Pandus13,

QQQ still has some growth.

Does your wife want a newer vehicle ?
 
Give it to me
laugh.gif
 
Originally Posted By: dogememe
Give it to me
laugh.gif


AWWWWWWWWWWW,
But it will only value 7.5 in your Kalifornia......
 
Invest. Absolutely invest.

If you're worried about current valuations in the market, then dollar cost average it over a year.

Can I assume that your consumer debt is down to zero? The ROI of paying that off is huge....
 
Originally Posted By: Mr Nice
Originally Posted By: Virtus_Probi
Investing right now is tricky with everybody saying the stock market is way overheated while it still keeps going up, up, up...

They said that 3 years ago.....

Pandus13,

QQQ still has some growth.
Does your wife want a newer vehicle ?


Mr. Nice, do you recommend a lump sum and go with the flow or monthly/weekly deployments for the Dollar-cost-average?
Wife, is studying (starting) for student and financial advisor, so I'm considering this the Play Money.
Hence why me giving up the new-ish car dream.
 
Investing is a 3-5 minimum time frame and involves a risk of principle. Saving is a now to 3 year goal with minimal risk. Don't take advice from the internet! LOL. I have a similar amount of "savings" that I have part in gold and part in cash. Using it as a hedge against stock market issues while maintaining liquidity. I hope it loses some value as I have a lot more in stocks!
 
Originally Posted By: Astro14
Can I assume that your consumer debt is down to zero? The ROI of paying that off is huge....

Only current residence. And it's way cheaper then renting, even after the HOA dues+power+gas
 
I'd invest about $12k in hookers and blow. The rest, I'd pretty much just waste.

One of my favorite lines. Actually, if your rainy day fund is in shape, I'd dollar cost average it into gold ETFs over the next 5 months. Stock ETFs are doing great right now, everybody says they will continue to do great, and average investors are continuing to poor money in. To me, that's always the sign that the investment will continue to go up until it gets the last sucker's dollar. Then it won't. I'm a conservative investor for necessary funds like 401k and IRAs (ETFs, dividend stocks, limited mutual funds), but like the contrarian approach for discretionary funds like this appears to be.
 
On this forum you're likely to hear "buy a 91 Tempo and drive it til the wheels fall off." Just the other day someone told Overkill to fix is 2016 SRT Jeep with junkyard parts and pocket the difference. Lots of oil enthusiasts here, not many motoring enthusiasts.
 
OneEyeJack, I like it.. xBox....

The current Yaris is sedan, Pacific Blue, has some scratches from 2 crazy doves, and 61,870 miles as of this morning.
And it handled driving to ATL and back with 2 adults+kids+some luggage pretty well. Actually it surprised me since I tought I had a penalty box. It just swallow the road, in the right lane, mile after mile, including climbing the Smokeys.

I have a Fram ToughGuard filter laying around... Are you up for a xBox oil challenge?
 
Originally Posted By: ArrestMeRedZ
I'd invest about $12k in hookers and blow.

...No can't do! Married with a Transylvanian lady.

Thanks for the investments advice.
 
Originally Posted By: ArrestMeRedZ
I'd invest about $12k in hookers and blow. The rest, I'd pretty much just waste.


Beat me to it.
mad.gif


I'd look at the options and think about what is best. Retirement, savings, investing, house payoff, nice vacation or a mix. You could treat yourself to a nice meal, save a bit for a vacation next year, and invest the rest. Too many options.
 
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