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What to do with my money?

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Old Jul 27, 2010 | 01:17 PM
  #51  
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I'd go for the GT3, Why spend the money trying to make the s2k a GT3 type car when theres already one out there, with a warranty.
That being said, i'm with the others and think investing is the best idea. Bank the cash make some profit and buy a Ferrari down the road.
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Old Jul 27, 2010 | 01:19 PM
  #52  
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Came into some money, now talking about financing a GT3... yikes.
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Old Jul 27, 2010 | 01:41 PM
  #53  
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Originally Posted by Glubags,Jul 27 2010, 05:19 PM
Came into some money, now talking about financing a GT3... yikes.
good interest rates from Porsche if he buys the new one.
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Old Jul 27, 2010 | 02:58 PM
  #54  
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Originally Posted by speed_bump,Jul 27 2010, 04:41 PM
good interest rates from Porsche if he buys the new one.
but I think Uber vehicles such as GT3's are exempt from the special rates.
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Old Jul 27, 2010 | 03:28 PM
  #55  
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We are all dead the end of 2012 anyway so may as well go for the gusto get a GT2 or GT1.
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Old Jul 27, 2010 | 03:48 PM
  #56  
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This is why brokers offer wealth management. You came in to a little cash and you want to blow it on a luxury item? Invest it and down the road, you can buy the GT3 in cash. Even if you can afford it, can you comfortably afford the tax, insurance, maintenance cost?
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Old Jul 27, 2010 | 04:29 PM
  #57  
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Originally Posted by st4rk,Jul 27 2010, 01:02 PM
So a person cannot rent a furnished luxury apartment and finance a Porsche because they are easily able to swing both payments?

Just taking notes here....
I think many people are advising against it because a GT3 would be more of a "luxury want" than a "need", especially in this context.

If the OP can afford to put a decent down payment on a GT3, he's probably in a good position to make more money with his money (real estate, small business, investing, etc). Paying interest on something that will depreciate so rapidly and sit in the garage most of the time probably isn't the wisest use of the money.

In my opinion, if you want a weekend-only exotic, you should already have enough money to comfortably buy it (and own it) outright. Furthermore, you never know what can happen in this economy. If, heaven forbid, something financially bad happened to the OP (emergency, job loss, etc), at least he wouldn't be in a hole because of the GT3.
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Old Jul 27, 2010 | 09:04 PM
  #58  
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Originally Posted by UmarS2K,Jul 27 2010, 08:17 AM
You really don't know what a GT3 is?
lol, Yes I know what a Carrera is and no, I don't know what a GT3 is, I will recognize as a Porsche when I see it on the road. Porsche's don't thrill me, when I thought of getting a Boxster instead of the S my wife thought I was pretty sick to look at one.

I did own a 912 back in the early 80's does that count ? Only owned it for a week though, I missed my convertible. Bought it on Sunday and sold it Saturday, never regretted it.
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Old Jul 27, 2010 | 10:56 PM
  #59  
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Originally Posted by dantediss,Jul 27 2010, 11:29 AM
being as set as you say at 25 with a high paying job and rental property etc..etc.. why are you asking others for advice ? You seem to be doing good enough on your own...??? but it does smell like b.s
Because its like when you ask your friend about something to get his or her opinion even thought you know what your going to do. I think of my S2ki fellow members as a family of owners so I asked a question that I would ask my friend/family to see what others have experienced.

I know it smells like b.s., but thats why I don't talk to many other people because of their b.s. I just wanted to see if anyone else had the same or like experiences as I do, I'm sure their are some out there, but many others may assume this is b.s. If you've never been in this situation I guess some wouldn't understand or some would just only assume.
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Old Jul 27, 2010 | 11:06 PM
  #60  
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Originally Posted by Glubags,Jul 27 2010, 04:19 PM
Came into some money, now talking about financing a GT3... yikes.
I know this sounds funny but the money I'm getting is "extra" money. I haven't purchased the car in the past because other more important things come before like a house, savings, and some long term investments. So now that I have an edge I can do more. When I buy a car I never intend on selling it anytime soon so its resale value doesn't have a very big interest to me, but its resale value isn't as bad as I would see on a Gallardo. I buy a car because I like it and want to drive it, not because of what I can sell it for in a few years.
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