If you had $25,000 (well, $4k would be reserved so really it's only $21,000), and you needed a reliable car what would you do? The options are in the poll.
It's poll time!
- Thread starter SupraDerk
- Start date
Do you have reliable income other than the 25k?
Will you need any or part of the 25k liquid?
Do you have significant savings?
Do you own a home?
Do you have a reliable car?
Do you have a lot of debt?
I'm young so i'd invest in mostly stocks if i didn't need it as of now or use it as a down payment for a house with a nice size garage...
Will you need any or part of the 25k liquid?
Do you have significant savings?
Do you own a home?
Do you have a reliable car?
Do you have a lot of debt?
I'm young so i'd invest in mostly stocks if i didn't need it as of now or use it as a down payment for a house with a nice size garage...
i voted Other,
like nate said, buy a house, if your laking the minerals save that money and shop arround your banks for a CD that automatically renews on a monthly basis, look for a 5% interest one. Then leave it be while adding to it whenever you get some extra dough like right now. Dont beyond your needs and it will add up enough to buy your house w/ everything in it.
like nate said, buy a house, if your laking the minerals save that money and shop arround your banks for a CD that automatically renews on a monthly basis, look for a 5% interest one. Then leave it be while adding to it whenever you get some extra dough like right now. Dont beyond your needs and it will add up enough to buy your house w/ everything in it.
killarb634 said:
But a house for me right now wouldn't be a good investment, I'm going into the military in December and I don't even know where I'll be headed yet, hehe, yeah I thought about it...a lot...but I talked to my commander about it and he said it was a bad idea.
But he was saying invest a good deal of it and buy a cheap car. I think I might go that route and maybe sell the Supra (mine is great and all, just a little unreliable and I won't have the time to work on it for the next year or so) and pick one up a little bit down the line if I'm itching for another one.
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**bare with me if some of that doesn't make sense, it's like 5:30 in the morning... PT time!
I vote to save the Supra from rust and then (if you must) sell it and buy a cheap/reliable car. Invest/save the rest.
Paying off alll the student loans wouldn't be smart. I will assume most of them are gov't loans which will have very low interest rates. 3-4%... You can very easily make more that 3-4% in most investments. You can also set something up where you go the the military and have the student loans being auto withdrawn from a certain account. If that account is making more than the 3-4% you're paying on your loans you are still making money and paying back the loans.
Jayhall said:
Haha, I was thinking about buying like a late 90's pickup... I think I still might if the price is right
killarb634 said:
Yeah, we have a guy that helps military personnel out with their finances coming in a couple of weeks to answer any questions we might have, so I'm gonna pick his brain about something like this.
If i 25k just laying around i would probably go buy a Fixed Roof Coupe Vette Probably a 99. Thats just me 
you can find one for around 18k and thats money in the bank for tools and other misc stuff.
you can find one for around 18k and thats money in the bank for tools and other misc stuff.
i personally would do a combo. buy a nice fd for around $13k and do the precautionary mods that they need. (find one with 100k miles plus, it should be on it's second motor by then.) and then invest the rest.
or... just invest it all.
or... just invest it all.
i would never spend 13k on a older mazda, its a nice car and all , but to say they are reliable is a lie...
complete waste of money you can buy a 13k car, under warany new
complete waste of money you can buy a 13k car, under warany new