Should I get a GT-R?

Footloose301 · 04-18-2014, 06:42 AM

Buy the GT-R and put the rest towards the mortgage.

You could potentially die today or tomorrow and you'll miss out on living life! If you're too conservative all your life you're going to miss out on all it has to offer!

Haboob · 04-18-2014, 06:45 AM

Quote:

Originally Posted by Footloose301

Buy the GT-R and put the rest towards the mortgage.

You could potentially die today or tomorrow and you'll miss out on living life! If you're too conservative all your life you're going to miss out on all it has to offer!

That's true too.

I'm a prime example.

TapaTalk for iPhone.

marty31 · 04-18-2014, 07:01 AM

What's your mortgage balance?

houkouonchi · 04-18-2014, 07:36 AM

Quote:

Originally Posted by marty31

What's your mortgage balance?

~230k

falconfixer · 04-18-2014, 08:05 AM

Quote:

Originally Posted by Magic Bus

While it appears you have a nice little sum cash and decent income, I wouldn't do it. All you're doing by getting the GTR and keeping the Z is dramatically increasing your expenses in depreciating assets.

At age 28 I would invest the money in a diversified portfolio and build it up. When these investments build up more then use the dividends or income to pay the GTR bill. Leave or re-invest all the capital gains from these investments so your total portfolio balance increases. Be a little more patient, it's not like you have a crappy car now.

As for paying off your mortgage, it depends on what your interest rate is. Example, if your mortgage is 3%, and your investments average an annual rate of return of 8%, why use the investment money to pay off the mortgage? But you have to invest the additional money.

Let your money work for you instead of you working for your money. Short term sacrifice results in long term pleasure while short term pleasure results in long term suffering.

Sorry to be a party pooper but you seem to be in a great position to set yourself up for a nice financial future and get the GTR much easier several years down the road.

Good luck to you on whatever you decide.

This is the best advice so far in this thread.

edub370 · 04-18-2014, 08:12 AM

$1100 a month car payment is absurd imo. pay off the z then go upgrade. driving a payed off Z is so much more satisfying

Elan · 04-18-2014, 08:37 AM

Quote:

Originally Posted by bdavis89

Since he asked, I will. I guess I'm in the minority here..imho that's not nearly enough money to be buying a car that expensive, but I tend to be conservative with my money. Affording the payments =/= Affording the car. Payoff debt, purchase with cash. $1,100/mth on a car? All I can think about are all the other things I could do with that each month. While I consider myself a car enthusiast, I do understand everyone has their own limits and what they value. I don't judge other people and what they do with their money, and the decision is yours, but that's just my two cents.

100k a year isn't THAT much for a car this expensive + insurance + mortgage + living expenses.

Don't buy it.

kielbasa16 · 04-18-2014, 09:48 AM

Quote:

Originally Posted by Hotrodz

Boost the Z and pay down the house!!!!

I like this advice. I agree with the fiscally conservative recommendations made thus far, but it sounds like you want to (and deserve to) splurge a little. Boosting the Z will make it even more fun to drive than it already is, plus you mentioned you prefer its looks to the GTR. Split the rest between some investments and the mortgage.

DjSquall · 04-18-2014, 09:55 AM

I say you should look into getting a used Gallardo. One can be easily found for under 100k. Maintenace & insurance is about the same as a GTR, but you get a Lambo

2011 Nismo#91 · 04-18-2014, 10:04 AM

Quote:

Originally Posted by houkouonchi

Basically due to something with my work in the next few weeks I will probably be getting paid out upwards of $120-160k (exact amount is unknown).

Don't forget to factor in Uncle Sam will take a nice chunk of that income come next April 15th.

zguynate · 04-18-2014, 10:04 AM

I was going to say you would make way more than enough money to buy a GTR and easily pay your mortgage in a reasonable manner, but then I read you live in Cali lol. I wouldn't do it lol. If you made ~$150k here in Memphis you could live like a king.

370zseth · 04-18-2014, 10:33 AM

If you can swing it, do it.

houkouonchi · 04-18-2014, 10:40 AM

Quote:

Originally Posted by falconfixer

This is the best advice so far in this thread.

I know financially it makes more sense to invest than pay off your mortgage but honestly there is risks involved in doing that where as if you pay your mortgage off its done, forever. Also the difference it can make in cash flow can be really nice so I think I would still like to try to pay it off but maybe invest in the interim until I have enough to do that.

Quote:

Originally Posted by DjSquall

I say you should look into getting a used Gallardo. One can be easily found for under 100k. Maintenace & insurance is about the same as a GTR, but you get a Lambo

When I was a kid a Lambo was my *dream* car but honestly as I have gotten older and heard all the horror stories of these things randomly combusting I honestly don't think I would want to actually own a lambo now.

Quote:

Originally Posted by 2011 Nismo#91

Don't forget to factor in Uncle Sam will take a nice chunk of that income come next April 15th.

Oh yeah, I am very aware, Actually the number I gave was after factoring in a 40% loss due to taxes. Actual raw amount (which will come in as income) should be in the 190-250k range.

Chuck33079 · 04-18-2014, 10:45 AM

Quote:

Originally Posted by Magic Bus

While it appears you have a nice little sum cash and decent income, I wouldn't do it. All you're doing by getting the GTR and keeping the Z is dramatically increasing your expenses in depreciating assets.

At age 28 I would invest the money in a diversified portfolio and build it up. When these investments build up more then use the dividends or income to pay the GTR bill. Leave or re-invest all the capital gains from these investments so your total portfolio balance increases. Be a little more patient, it's not like you have a crappy car now.

As for paying off your mortgage, it depends on what your interest rate is. Example, if your mortgage is 3%, and your investments average an annual rate of return of 8%, why use the investment money to pay off the mortgage? But you have to invest the additional money.

Let your money work for you instead of you working for your money. Short term sacrifice results in long term pleasure while short term pleasure results in long term suffering.

Sorry to be a party pooper but you seem to be in a great position to set yourself up for a nice financial future and get the GTR much easier several years down the road.

Good luck to you on whatever you decide.

I came in here to type pretty much exactly this.

Quote:

Originally Posted by 2011 Nismo#91

Don't forget to factor in Uncle Sam will take a nice chunk of that income come next April 15th.

And the state, right? He's in Cali. Between Fed and state tax, your 160k is probably 110k or less, right? $110k becomes $65k?

Seriously? Take a nice vacation so you can feel like you bought yourself something. Pay off the Z if you've still got a note. Make the house the only debt you have. Invest the rest. Revisit the GTR decision after a year of the new salary. Or wait for the redesigned GTR to crater the resale of the current ones and buy a 2013 or 2014 from someone who has to have the new one.

Amj2020 · 04-18-2014, 10:47 AM

Id hate to point out the obvious but your posts make me think you are not financially ready to commit to this idea and want someone to talk you into it. I used to do the same thing when I wanted my first sports car, my first Rolex, my first boat all when I was your age. I wanted everyone to convince me it was the right decision to justify a predetermined bad choice. Instead I invested the money I had earned and saved, bought a house, started a family, all of which are very expensive and it turned out to be the right decision. The truth is even with that payout, the money would be much better and more wisely spent in 100 other ways than buying a GT-R. The GT-R will always be there, and so will a lot of other cars in the future that will make you want them instead of the GT-R. Is the GT-R fun, sure but want to know what is more fun, seeing 7 figures in your bank account! You are still very young, give it a few years and let that capital you are making work for you and earn more every month so that you can just say one day screw it, today im going to buy the 2017 GT-R and just flat out be able to afford it

04-18-2014, 06:42 AM	#46 (permalink)
Footloose301 A True Z Fanatic Join Date: Apr 2010 Location: Naples, FL Posts: 2,659 Drives: 40th Rep Power: 21	Buy the GT-R and put the rest towards the mortgage. You could potentially die today or tomorrow and you'll miss out on living life! If you're too conservative all your life you're going to miss out on all it has to offer! __________________ 2010 40th Anniversary 370Z

04-18-2014, 07:01 AM	#48 (permalink)
marty31 Base Member Join Date: Mar 2013 Location: Saratoga Springs, NY Posts: 75 Drives: 19 Camaro ZL1 A10 Rep Power: 23	What's your mortgage balance? __________________ 2013 370Z Touring Sport M6

04-18-2014, 08:12 AM	#51 (permalink)
edub370 A True Z Fanatic Join Date: May 2011 Location: KCMO Posts: 3,458 Drives: 09 370z S/T 6MT Rep Power: 20	$1100 a month car payment is absurd imo. pay off the z then go upgrade. driving a payed off Z is so much more satisfying zefaulter likes this. __________________ 09 370Z ST 6MT//Injen CAI//Greddy CBE//TP//TSW's//Swifts//Stillen lip//Whiteline sways 326whp/268tq

04-18-2014, 09:55 AM	#54 (permalink)
DjSquall A True Z Fanatic Join Date: Apr 2010 Location: Tottenham, ON Age: 36 Posts: 1,340 Drives: My first car Rep Power: 22	I say you should look into getting a used Gallardo. One can be easily found for under 100k. Maintenace & insurance is about the same as a GTR, but you get a Lambo __________________ My Z did p0rn

04-18-2014, 10:04 AM	#56 (permalink)
zguynate A True Z Fanatic Join Date: Jan 2012 Location: Strangeland Posts: 1,054 Drives: 09 370z Rep Power: 73	I was going to say you would make way more than enough money to buy a GTR and easily pay your mortgage in a reasonable manner, but then I read you live in Cali lol. I wouldn't do it lol. If you made ~$150k here in Memphis you could live like a king. __________________ 2009 370z touring w/sports package

04-18-2014, 10:33 AM	#57 (permalink)
370zseth Enthusiast Member Join Date: Feb 2014 Location: Palm Coast/Daytona-FL Posts: 319 Drives: 12 370Z Rep Power: 24	If you can swing it, do it.

04-18-2014, 10:47 AM	#60 (permalink)
Amj2020 Enthusiast Member Join Date: Mar 2012 Location: NY/LI Posts: 393 Drives: MB Z,Jeep,BMW Rep Power: 13	Id hate to point out the obvious but your posts make me think you are not financially ready to commit to this idea and want someone to talk you into it. I used to do the same thing when I wanted my first sports car, my first Rolex, my first boat all when I was your age. I wanted everyone to convince me it was the right decision to justify a predetermined bad choice. Instead I invested the money I had earned and saved, bought a house, started a family, all of which are very expensive and it turned out to be the right decision. The truth is even with that payout, the money would be much better and more wisely spent in 100 other ways than buying a GT-R. The GT-R will always be there, and so will a lot of other cars in the future that will make you want them instead of the GT-R. Is the GT-R fun, sure but want to know what is more fun, seeing 7 figures in your bank account! You are still very young, give it a few years and let that capital you are making work for you and earn more every month so that you can just say one day screw it, today im going to buy the 2017 GT-R and just flat out be able to afford it