I don't think you would be able to add up the cash you had saved since 99-2013 equals 20 to you.
Finally picked up a Viper...
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I don't think you would be able to add up the cash you had saved since 99-2013 equals 20 to you.
I purchased my first 04 Cobra for $20k when I was in my senior year of High School. I didn't have any help; my only bills were Insurance, car note, phone bill, and gas. I don't doubt his ability to purchase his mystic at that age.
Yes, congratulations! Gorgeous Viper!
Got both rides cleaned up and took some quick cell phone shots…
Lol at the juggling pics. People kill me wanting to question someone they don't know about their money and how they got it.
Beautiful cars. Not sure why some people are doubting you. You obviously have a very good work ethic and it's your priority. Some people spend a lot of money on cigarets & beer. You've invested in two great cars that have already taken the hit of depreciation and will probably appreciate in value. Much more than than a standard GT or some econobox.
As far as having payments, I'm 52 and just paid off my 96 Cobra. It was a garage queen from the previous owner, has perfect paint, the undercarriage looks new. Was never driven in any rain or snow. Was maintained with Royal Purple and Maguiar's products. It had 37K on the clock when we bought it. We borrowed $8,000 of the $10,500 we paid for it. We could have paid cash but it was more important to us to have a cash reserve and be investing in a 401K. Borrowed the money from a credit union at 2.49%. Paid an average of $60-70 extra each month so we paid it off 9 months early on a 36 month loan. Just paid it off today.
I would never take out a loan I couldn't afford. And yes if you have the time and ability to save and pay cash for a car that's the best. Not everyone can, or sometimes the right car comes up before you had time to save.
Bottom line you have 2 beautiful cars with low production, high resale value. Great investment.
One last thing, no matter what the vehicle I would NEVER take out one of the 6-7 year car loans they offer today. Between the interest paid on the loan and the depreciation of the car you will be underwater for the majority of the loan and pay about double what the cars worth.
In today's financial world if you can get a car loan at 2.5% or less for 36 months why not use OPM.
My daughter just bought a 2013 Subaru at a great price because the 2014's were on the lot and she got the loan at 0.0% interest, a no brainer.
As far as having payments, I'm 52 and just paid off my 96 Cobra. It was a garage queen from the previous owner, has perfect paint, the undercarriage looks new. Was never driven in any rain or snow. Was maintained with Royal Purple and Maguiar's products. It had 37K on the clock when we bought it. We borrowed $8,000 of the $10,500 we paid for it. We could have paid cash but it was more important to us to have a cash reserve and be investing in a 401K. Borrowed the money from a credit union at 2.49%. Paid an average of $60-70 extra each month so we paid it off 9 months early on a 36 month loan. Just paid it off today.
I would never take out a loan I couldn't afford. And yes if you have the time and ability to save and pay cash for a car that's the best. Not everyone can, or sometimes the right car comes up before you had time to save.
Bottom line you have 2 beautiful cars with low production, high resale value. Great investment.
One last thing, no matter what the vehicle I would NEVER take out one of the 6-7 year car loans they offer today. Between the interest paid on the loan and the depreciation of the car you will be underwater for the majority of the loan and pay about double what the cars worth.
In today's financial world if you can get a car loan at 2.5% or less for 36 months why not use OPM.
My daughter just bought a 2013 Subaru at a great price because the 2014's were on the lot and she got the loan at 0.0% interest, a no brainer.
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i love my cobra, but a gen 2 viper is my dream car. as far as im concerned it is the best looking car ever made.
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