I'm at a major crossroads right now in my life. If I don't get the S4/330/S2000 right now, I can easily save up 15K in a year while still living my party lifestyle.

If you were in my shoes... 23, graduating from college, et cetera, et cetera... would you get the S2000 or hold off for a year and get yourself a condo? 180K is pretty good here in Seattle. Nothing big, but something nice in a great part of town.

Thanks, guys.

 

I'd get the condo. Did the same thing when I was 24. Take my example. I bought a condo for 144K in '96. Sold it exactly 3 years later for 194K. Traded up to a house for 354K with the equity gains as a down payment. If I had bought a car, I would have had a 3 year old car with about 35K on the clock that wasn't as pimp as it was when new and I'd still be paying rent. Now I have a garage to park my Stook in. Have my cake and eat it too. Good things come to those who wait.

Just my 2 cents.

 

Hmmm, are you asking what is my advice, or what I would have done.

My advice: Go the condo.

What I would've done: Bought the S.

In the words of Groucho Marx "Take my advice, I'm not using it."

PS> Wooooo hooooo, that's 5th gear

 

get the condo!

of course i got the car first...

 

Remember this fact of life: Cars depreciate; condos appreciate; however, cars are more fun!.

 

What most people don't look at is that a condo/house must be compared to rental taking into account the tax effect of owning real estate as a residence. Most people assume that they will save taxes if they own - may or may not - you need to look at the options. Then you have to ascertain the liquidity of the investment, compared to what you need. If you need to sell the condo in a few years, will the market be good? Or are you planning on living there for 10 years? What about repair/maintenance costs in dollars and time?

Most likely, the condo will be the best choice - from a financial decision, but if you plan on dying in the next 2 years, get the car.

 

Knowing what I know now, I'd go with the condo.
I was actually in your shoes November 1999.
I knew I should buy a place to live, but I was renting a condo. And since my girlfriend, not turned wife, got a new car I wanted one too. If I waited I'd have an S2K that actually had a clock and windscreen built-in instead of options. I bought the house a year later, but I could have saved a whole year of tax deductions.

If you do go with the car. Recommend payments. I paid mine off completely, but now I have to wait for mods. If I made payments gradually, then I could get all the mods I wanted.

Good luck, whichever way you decide. Just live life!

 

[QUOTE]Originally posted by SpaceNeedle
[B]I'm at a major crossroads right now in my life.

 

The Bay Area is the one place I wouldn't buy anything right now. I suspect prices will start falling soon. Commercial real estate has already fallen 19% in SF according to WSJ. This trend will carry over into the residential market as well.

Anyways, I'd get the condo. I bought a house and it has appreciated in value about 90% in 4 years with no end in sight for Toronto's skyrocketing real estate market.

 

Condo.