Comments on: Opportunity to Buy A Dream Car For a Great Price

By: susan

susan — Sun, 28 Oct 2007 23:51:26 +0000

Only 80,000 miles? It’s just broken in! My 1993 Civic Del Sol has 220,000 miles (a one way trip to the moon is 240,000 miles and I think I may shoot for a round trip). I don’t think I have a dream car but I’m seriously in love with the mini cooper. I loved my car when I bought it and hated it every month I made a payment. I fell in love again the day I payed it off.

By: thomas

thomas — Sat, 27 Oct 2007 22:52:53 +0000

my dream car is a car that is paid off, has low mileage, and is dependable.

That, and a kickass old school soft top Bronco.

By: Leroy Brown

Leroy Brown — Fri, 26 Oct 2007 14:46:40 +0000

That has to be part of the plan from the beginning – to drive for a bit and sell. Otherwise it’s not a particularly good financial decision. It just takes a bit of discipline is all.

I’ve had ridiculously fast cars before ( and man, do I ever miss my last one at times ). But when it makes sense to sell, then you do it. Family and financial stability have to come first… if he couldn’t make this commitment ( which it seems he couldn’t), then he shouldn’t buy. Looks like he made the right call *for him*.

By: Flexo

Flexo — Fri, 26 Oct 2007 14:34:41 +0000

If this was your dream car (or house, or whatever), would you be willing to flip it? People don’t buy their dream just to sell it right away. Leroy, you have a better plan than a pure flip, but there’s the chance that after six months, you’ve learned to live with your choice, and you just may not give it up.

For Gerry, based on the article, this car wasn’t just an object to flip and make some money on, this was a dream. When you achieve your dream, you don’t sell it for a profit.

I don’t dream of cars, but I won’t judge the merits of the dream. I’ve never driven a Corvette, so I have no basis of knowledge.

By: Leroy Brown

Leroy Brown — Fri, 26 Oct 2007 14:15:10 +0000

Buying it, driving it for six months, and then selling it for more than he paid, would have been a wise decision. He would get the “happy” factor of enjoying his dream car, albeit for a short while. And he would come out financially ahead in the end – which is good in and of itself.

Bad call on not buying. Used Vettes can command great money if they’re clean, and marketed even fairly well.

By: awcool

awcool — Fri, 26 Oct 2007 13:24:11 +0000

That was a stupid move.. They should’ve flipped it!

I have longed for a Corvette for the longest time as well.. And I have done some research on this and you can easily get a 2000 model for low $20k’s.. And since these kinds of toy cars are hardly used, the mileage tends to be very low and they tend to be very well maintained..

On a personal note, that’s exactly what I plan on getting once I figure out a way of buying it using purely passive income. Cars are liabilities in my books and I have a strict policy not to spend any of my day job’s money on liabilities.

By: Russ A

Russ A — Thu, 25 Oct 2007 21:29:42 +0000

Yeah, it certainly didn’t make sense to buy an unnecessary automobile that’d force them into debt. One thing they could do is rent a similar bad boy for a weekend excursion somewhere.

Although, if they were getting such a sweet deal, I wonder if they could have eBay’d it and made a few bucks?

By: Bill

Bill — Thu, 25 Oct 2007 18:54:38 +0000

They had to consider this? Unless they planned to flip it, going into debt for a toy car is stupid.

It’s only a good deal if your buying something you need to buy or plan to make into a business…otherwise it’s a waste.

By: AJ

AJ — Thu, 25 Oct 2007 18:46:01 +0000

Oh. Now that I actually read the article, I wish I hadn’t asked. Sad. :(

By: FrugalTrader

FrugalTrader — Thu, 25 Oct 2007 18:42:11 +0000

I hear that Corvettes can fetch a hefty sum used. I would have bought it and resold it. :)

By: AJ

AJ — Thu, 25 Oct 2007 18:40:53 +0000

But HOW he got the great deal is what we readers want to know!

By: Mrs. Micah

Mrs. Micah — Thu, 25 Oct 2007 15:35:36 +0000

Sounds like they made a wise decision. If they were quite well off and it wouldn’t mean debt or taking away significantly from retirement/college funding, then this would be a great deal.

But a great deal is only great if you need it and can afford it (or if you want it and are just that amazingly rich). This is also true of “great” prices on coats, tvs, and other things that we could buy but don’t need and can’t really afford.