What would you do?

[monotony]

Ok, let me start off by saying that I am not looking for the "wise advice" here. I know what I SHOULD do, but I am more interested in what YOU would do.

I will be receiving a check this week for @ 40K or so. I plan on buying a car with part of it. What I really, really want to buy is a Infiniti G35 Coupe 6MT which will pretty much deplete the entire amount. The other car I'm looking at is an Acura CL-S, which will leave me about 15K left over for whatever (house upgrades, home electronics, savings?, etc..). In anycase, my head is telling my to buy the Acura but my heart says get the G35. I'm 26 and have never owned a car less than 10-15 years old. I feel like I've paid my dues and now it's time to play! If you were in the same position, what would you do...?

Swap the cars to fit your style, but you get what I mean...

 

[fonzinator]

I guess I'd have to take that $40k in view of the rest of my financial situation. Do I own my own home? What kind of car do I already have? Am I married? Ect...? I'm 24, so about the same age as you. I don't own my own home, I'm about to get engaged, I don't have much savings. So for me, buying a G35 would be a rediculious thing to do, even if $40k fell in my lap. If I had that check, and my heart were set on a new car, I'd compromise with myself. I'd buy a car with half or 3/4 of the money, make sure it was a few years old, then invest the rest. But since I don't have my heart set on a new car, I'd probably invest almost the entire thing...I'd use some for a ring/honeymoon and maybe put the rest into getting a house.

Have you decided what you're going to do??

 

[Conky]

I'd get the cheaper car and have some money for a rainy day because the rainy days always come. That and both of those cars will be worthless in ten years anyway but the cash will still have worth... maybe more if you invest it properly.

I don't think I'm going to ever buy an expensive new car again. The depreciation hit makes me sad and I don't see myself as what I drive anymore.

 

[40oz]

I would buy the $25,000 car and then use the rest for savings/play etc. money

 

[pyonir]

I would probably only spend about 15k on a car at most, and put the rest of it into savings.

 

[Viper GTS]

Buy a $10K car & invest $30K.

You haven't paid sh!t for "dues" at 26, that $30K would buy a MUCH nicer car than a G35 if you sit on it for a while.

Viper GTS

 

[rh71]

Simple... my fiance who lives with me would tell me to put it towards the Acura so we'd have money left over for our mortgage (everything helps), but I'd DEFINITELY do the G35 Coupe if she (or any outside influences) weren't in the picture.

In other words, I'd PLAY in a heartbeat. I'm 25 if that helps you understand why.

 

[Jzero]

I'd buy the cheaper car, as much as I'd want the "better" one. My frugality would get the better of me.

 

[boyRacer]

Hmmm... i'd get the CL and put the rest into savings... considering how the CL is dead you won't have a problem with yours looking "old" if a new model comes out since there won't be any. ...and $15k leftover is a lot of money.

 

[ThisIsMatt]

Cheaper car, then use the left over to buy something cool...like a pre 73 chevy 4x4 to go mobbin in

 

[Ulfwald]

Remember, cars depreciate over time. So spend as little money on them as possible. Houses appreciate, so you can spend the money on that.

Or, open a line of credit, put the money in the bank, and use the money as collateral for the line of credit. That way, you earn intrest on the money, still have it in case of an emergency, and can use the line of credit to buy what you need. PLus, if you do this right, the line of credit, if drawn against the house, all the intrest paid is tax deductible.

 

[giguana]

Originally posted by: fonzinator
I guess I'd have to take that $40k in view of the rest of my financial situation. Do I own my own home? What kind of car do I already have? Am I married? Ect...?

this is what i would do. just because i had a bunch of money fall in my lap doesn't mean i would go buckwild. i would probably pay off the car i have, pay all my debts off, and put the rest invest the rest. probably go with a money market account, nothing too risky.

 

[monotony]

Fonz & others -

More info if it helps. I own a home and have no *real* SO to consult or worry about. I make enough $ right now to comfortably pay my mortgage & save/spend ~ 1200/mo or so. Don't have much savings though - or checking for that matter. No clue even HOW to invest it if I wanted to. The only investing I've ever done is buy a house and start a 401k. Dammit, I knew you all would be more sensible. Making this decision harder...

I guess my next question would be - what/where would be the wisest to invest in with 20-25k?

 

[CurtCold]

Dump 1K into your existing vehicle, to fix it up, you've been driving it all this time, why not keep driving it? Why would you give half that dough to a car manufacturer? Take about 20k, and open an annuity, or some other type of investment you'll be able to cash in on later. Then put the rest of the 18-19K in the bank.

I've seen people/know people that have recieved that kinda money, and about 2-3 years they are back in the same financial situation they were before, because they "blew" the money. Do yourself a favor and don't become another statistic.

Plan for yourself so you can retire early, that's worth more than any car.

 

[everman]

I'd use my current car if it works fine right now, and invest the money in property. Cars depreciate immediately, real estate on the other hand appreciates. I'm saying this because you mentioned house upgrades. (kitchen & bathrooms are good areas) or invest it accordingl to your risk tolerance. You should really talk to a financial planner unless you get $40k checks every week.

 

[boyRacer]

I have a feeling he'll be driving a G35 real soon...

 

[Wolverine27]

Given your 2 choices of cars...the G35 Coupe would be what my heart would tell me to get too. The CL-Type S is an awesome car as well...but I just love the styling of the G35 Coupe.

Having said that...however if someone were to give me 40K, I would go with the Acura and save the rest of the money. Remember these cars are going to cost more to insure and cost more to maintain...so you'll need to save some money for those other costs of ownership. Better yet, I would look for a car that was 2-3 years old with low mileage, buy a 3rd party extended bumper to bumper warranty and save even more money.

Whatever you decide to get...good luck! And post some pics of your final decision.

 

[notfred]

I'd repaint my car, buy a ProCharger blower for it, and pu the other $30k down on a house.

 

[KC5AV]

Go with the less expensive vehicle, or keep driving the current one if that is an option. There are much better things to spend money on that a nice ride...

 

[FoBoT]

i would buy an even cheaper car than the $25k Acura, but i recommend the cheapest one you can talk yourself into

cars only depreciate, so why waste the money?

 

[HomeBrewerDude]

i would pay off a credit card, buy a 18-22k car and put the rest away.

 

[djheater]

If I had 40 grand I would buy a one year old Honda Odyssey and spend the rest on house upgrades. I could get a ton of crap for that money, seriously.

I could almost get the second floor put on!

BTW I'm 27, married and have two kids.

You could turn that into a very nice house upgrade if you'll do some of the work yourself.

Damn wish someon would give me a check for that much

 

[ohtwell]

I'd really want to get the G35! Those cars are fvcking sweet!!

I'd end up getting the Acura though!


: ) Amanda

 

[Hammer]

if you have no debts...

i say you only live once, get the g35

 

[Viper GTS]

Originally posted by: monotony
Fonz & others -

More info if it helps. I own a home and have no *real* SO to consult or worry about. I make enough $ right now to comfortably pay my mortgage & save/spend ~ 1200/mo or so. Don't have much savings though - or checking for that matter. No clue even HOW to invest it if I wanted to. The only investing I've ever done is buy a house and start a 401k. Dammit, I knew you all would be more sensible. Making this decision harder...

I guess my next question would be - what/where would be the wisest to invest in with 20-25k?

You're paying a mortgage yet you want to blow the cash on a car?

Viper GTS