So, if things go as planned, all our debt will be gone next May except for our mortgage. Our mortgage interest rate is 2.75%. We have college funds started and are funding them monthly via direct deposit.
All that being said, I'm looking at potentially buying a lightly used luxury/sports car next year even though it makes absolutely no ****ing sense.
I'm looking at several vehicles (6 series convertible/coupe, 2005-2009 911's, CLS 550's, 2014-2015 vette, etc). Surfing the web, it is easy to find all of these in the $30-$45K price range. Mileage less than 50K, many times around 30K.
I've never been scared of used cars, primarily have bought used CPO Japanese cars (Toyota, Infiniti, Acura). There are some specific issues with 911's made from 1998 through 2008, but there are ways to mitigate them (IMS bearing issues).
This vehicle will be a weekend driver and for trips that I take with the wife. Idea is that the majority of the depreciation will have already hit, yearly mileage will be no more than 5K/yr.
Thoughts? My thinking is that as long as it isn't a super-high performance vehicle, all of these are good for at least 150K miles. Appreciate any insight into this strategy, or just openly hateful criticism. All is valued.
All that being said, I'm looking at potentially buying a lightly used luxury/sports car next year even though it makes absolutely no ****ing sense.
I'm looking at several vehicles (6 series convertible/coupe, 2005-2009 911's, CLS 550's, 2014-2015 vette, etc). Surfing the web, it is easy to find all of these in the $30-$45K price range. Mileage less than 50K, many times around 30K.
I've never been scared of used cars, primarily have bought used CPO Japanese cars (Toyota, Infiniti, Acura). There are some specific issues with 911's made from 1998 through 2008, but there are ways to mitigate them (IMS bearing issues).
This vehicle will be a weekend driver and for trips that I take with the wife. Idea is that the majority of the depreciation will have already hit, yearly mileage will be no more than 5K/yr.
Thoughts? My thinking is that as long as it isn't a super-high performance vehicle, all of these are good for at least 150K miles. Appreciate any insight into this strategy, or just openly hateful criticism. All is valued.
