Don't get a S. We all love this car but for u invest in ur Web buisness. Once you start to make good money out of it than u can splurge on a car. I thought that i could afford my car i make good money $3500 a month take home. But i hated the $594 car note so i tooke $11k out of my savings and put it on the car so my car not is now $377 a month. I bought my CR new for $35k i owe now $20.6k. But i do think sometimes what i could have done with all that money. I do love my CR and luckly i can afford to put alot down on the car and i am now looking to pay it off in about 3 years if i keep a good budget.

 

LOL I watched that show last night man. I love that show it makes me realize how much more i can budget my money. I now have a firmer grasp on what i can afford to spend how much i need to save.

 

With your monthly income I would sell one of your cars and bank the $ ( I would think the BMW will be easier to sell and will net you more $). I would then save all of your ebay profit until you have enough to pay $ for an S2k. With $900 a month there is not a lot at all for any wiggle room, no point in strapping yourself now, just so you will be even more strapped if and when you begin making more $.

 

As gratifying as it is to see others get into an S, it doesn't seem like those numbers will pan out and allow you move onward and upward. I'd definitely hold off until it becomes easier to make this expenditure.
I, too, used "you only live once" to justify my purchase but I'm married (2 incomes), and I make several times more than you listed. I "had" to get it before we have kids or I'd never get one.
Bottom line is you've got some time.

 

this thread is an eye opener for a lot of young potential future buyers like myself and OP. i'm in similar situation, but as a full time pharmacy student i make just enough to have some spare cash and pay for gas. i did sell my 240 and saved up money from working more hours in the summer and managed to scrape up about 10k since may. i've been so crazy about saving up for this dream car that i couldn't see any other options. as many of you said, dumping all your money into one thing may not be the smartest idea. while i could afford a MY00-02 right now, i'm thinking of just waiting another year and half until i graduate to buy the newest MY i can. but i dono, i've been itching to get one the last 2 years, i'm not sure how much longer i could wait lol.

and OP, you are kind of in a similar situation as i am, but i guess in reality it will be a stretch for both of us. once you save up about 12k, i think you could buy one that's around 9-10k and have some money for insurance and unexpected repairs.

in the meantime, this is probably not the best place to ask but what are some of the quick and safe ways to invest some money to see some return in about a year?

 

 

don't do it save your money in a roth IRA ...5k for the year ..then whatever you have left over spend ...do this for 20 -35 yrs and you will be a rich man !! no secret just work hard and be smart with your money ...it pays big dividends ..down the road

 

Got some people looking at my BMW tomorrow. Hopefully it sells tomorrow. I need some money for a laptop and some cash for 10-15 pairs of Nike Foamposite Eggplants March 5th ($200 shoe btw).

Btw, if I had a chance at a loan or if I had the cash I would def try that car rental thing. Ive read in to it and its very doable, you just need a way of obtaining the car, if you finance it just make sure your rent fees are higher than the car bills. Pay it off, sell it, profit...

 

You're making assumptions though that you'd have enough business to offset your expenses (loan payments, marketing, insurance, taxes, etc). If not, you're stuck trying to pay on a vehicle that is worth about 5-7 times your annual salary. So, instead of "pay it off, sell it, profit..." it might be "get it repossessed, lose any equity you had it, lose your credit".

If you have a quarter million dollars in cash sitting around, there are better ways to make money than buy a Lambo.

 

And then you lose half of your IRA like when the market tumbled in March 2009. Many of my coworkers are now unable to retire comfortably because of this.