Author Topic: I made a huge decision today  (Read 4245 times)

taylost3

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I made a huge decision today
« on: June 12, 2017, 06:06:34 AM »
I was on the verge of leasing an Alpha Romeo 4C today it was an incredible deal and a car I absolutely love. Without MMM I would have signed on the dotted line and spent £9k over 2 years and been further away from my FIRE goal. I'm so proud of myself for saying no this is a huge change in mindset for me.

markbike528CBX

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Re: I made a huge decision today
« Reply #1 on: June 12, 2017, 06:16:57 AM »
Wait till it comes off lease, buy for cheaper.

Good move, You should be proud.

taylost3

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Re: I made a huge decision today
« Reply #2 on: June 12, 2017, 06:57:32 AM »
Thanks, I am I'm on the right track FIRE is an addiction.

cantgrowone

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Re: I made a huge decision today
« Reply #3 on: June 13, 2017, 11:36:44 AM »
You made the right decision!

In January I almost spend a $27,500 cash on a 2017 used car with 6,500 miles. MSRP was $37,000 new so to me it was a steel. Me and craigslist agreed on a price of $27,500 and the next day he backed out saying he couldn't let it go for less than $28,500. I would be happy driving around in the car, but it would have delayed FIRE like you said.

t5inside

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Re: I made a huge decision today
« Reply #4 on: June 13, 2017, 12:01:42 PM »
Good taste in cars! If you aren't afraid of being out of warranty, I'd wait until they depreciate more. I recently caved and bought an '11 Lotus Evora. Yes it will delay my retirement, but it's something that brings me joy (and I don't believe in saving all fun until retirement), so I just try to do it with as little negative financial impact as possible. I'm more interested in the "FI" over the "RE" anyway.
  • Minimize depreciation loss (at least 5-10 years old)
  • Find something that is relatively reliable and/or has cheap parts
  • Learn to do some of the work yourself, keep it in great condition (fun to detail and minimizes depreciation)
  • Wait for a killer deal, then jump on it
« Last Edit: June 13, 2017, 12:15:54 PM by t5inside »

Vindicated

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Re: I made a huge decision today
« Reply #5 on: June 13, 2017, 12:59:39 PM »
Good taste in cars! If you aren't afraid of being out of warranty, I'd wait until they depreciate more. I recently caved and bought an '11 Lotus Evora. Yes it will delay my retirement, but it's something that brings me joy (and I don't believe in saving all fun until retirement), so I just try to do it with as little negative financial impact as possible. I'm more interested in the "FI" over the "RE" anyway.
  • Minimize depreciation loss (at least 5-10 years old)
  • Find something that is relatively reliable and/or has cheap parts
  • Learn to do some of the work yourself, keep it in great condition (fun to detail and minimizes depreciation)
  • Wait for a killer deal, then jump on it

In your case, I bet your Lotus will maintain it's value too.  Not exactly an investment, but it won't be worth much less in a few years, and it may be worth more.

Please share pictures.  I've always love Lotus... Lotuses... Loti... :)

I also think Alfas are gorgeous.

Some day I'll buy a Studebaker, but not until I'm much further along my FI journey.

t5inside

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Re: I made a huge decision today
« Reply #6 on: June 13, 2017, 01:03:20 PM »
Good taste in cars! If you aren't afraid of being out of warranty, I'd wait until they depreciate more. I recently caved and bought an '11 Lotus Evora. Yes it will delay my retirement, but it's something that brings me joy (and I don't believe in saving all fun until retirement), so I just try to do it with as little negative financial impact as possible. I'm more interested in the "FI" over the "RE" anyway.
  • Minimize depreciation loss (at least 5-10 years old)
  • Find something that is relatively reliable and/or has cheap parts
  • Learn to do some of the work yourself, keep it in great condition (fun to detail and minimizes depreciation)
  • Wait for a killer deal, then jump on it

In your case, I bet your Lotus will maintain it's value too.  Not exactly an investment, but it won't be worth much less in a few years, and it may be worth more.

Please share pictures.  I've always love Lotus... Lotuses... Loti... :)

I also think Alfas are gorgeous.

Some day I'll buy a Studebaker, but not until I'm much further along my FI journey.

That's my hope! It's the more desirable supercharged model (only 250 imported), and I paid ~10-20% under market.. So I figure I have a few years before I've really lost much money on it. And hey, it has a Camry motor, so I kind of fit in here still ;)

Pics here: http://imgur.com/a/LfEri (sorry for the thread jack!)
« Last Edit: June 13, 2017, 01:30:30 PM by t5inside »

Linea_Norway

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Re: I made a huge decision today
« Reply #7 on: June 13, 2017, 01:38:57 PM »
Thanks, I am I'm on the right track FIRE is an addiction.

Well done. It is indeed an addiction.

taylost3

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Re: I made a huge decision today
« Reply #8 on: June 14, 2017, 06:40:41 AM »
Good taste in cars! If you aren't afraid of being out of warranty, I'd wait until they depreciate more. I recently caved and bought an '11 Lotus Evora. Yes it will delay my retirement, but it's something that brings me joy (and I don't believe in saving all fun until retirement), so I just try to do it with as little negative financial impact as possible. I'm more interested in the "FI" over the "RE" anyway.
  • Minimize depreciation loss (at least 5-10 years old)
  • Find something that is relatively reliable and/or has cheap parts
  • Learn to do some of the work yourself, keep it in great condition (fun to detail and minimizes depreciation)
  • Wait for a killer deal, then jump on it

The Alpha was a crazy good lease deal £2k deposit and £249 a month for a £55k car over 2 years but its all lost money. I might look at an Evora in a couple of years when the prices come down a bit more I still have the itch for a sportscar.

 

Wow, a phone plan for fifteen bucks!