insanestang
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How to celebrate paying the Mustang off?
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twogts4us
15 Year Member
Yeah, good luck with that...
Right now prices are near rock bottom...a house would be your best investment hands down.
living debt free is easy, I have done it before, then I got stupid and stopped saying "NO" to me. I decided a year or so ago to be a big boy and have a little discipline and a plan and I should be completely debt free in two more years or less. I have already paid off 7 credit cards another car, and a student loan, and now the Mustang, now I have more student loans to pay and I am done.
As far as invstements go, paying off my car is a great investment and I make 10% in the next two years guaranteed, because I am not making any interest payments!
If I decide living debt free is no fun again I can always run out and get some high interest rip off credit cards! Buying a house is idiotic, and I would not offer that advise to anyone especially when you did not know I am unemployed which makes your idea just a little dumber. Sorry, I intend to pay all my bills, not get into a mortgage I can't afford and try to make you guys foot the bill.
twogts4us
15 Year Member
A car is typically a TERRIBLE investment! Do you understand the meaning of investment? Granted, not paying interest is a good thing, but that's not an investment.
Was I supposed to know you are unemployed? "Idiotic'? "Dumber"? View attachment 239619
If you have no income, why would you take this windfall and dump it into one bill when you obviously don't know what tomorrow may bring...
Do you have any income? What the heck would you do if something broke on your car? Or you had medical bills? Or something else that could not wait happened? Are you living with someone else, on your own, rent or otherwise?
And from your opening post of this thread - "I can tell you I am super excited about having an extra $400/mo to play with for sure!!!"
Sounds like someone who is unemployed right?
Oh wait, there is more..."A burnout will be done...on $330 Goodyear F1s...I must be out of my mind, I will try to find a place to do it and film it and post it for you guys."
Now we know you are the "idiotic" and "dumber" one.
Indeed....people that consider cars good investments need to give their heads a shake. Investments are intended to increase in value over an alloted time....not diminish.
I guess I understand how paying a car off early is a great investment because over the course of the loan my money is not being wasted on interest, thus it is growing elsewhere instead of growing for the credit union.
Again knowing your facts are important! Do I have an income? Maybe you should have thought about that before you decided to insert your opinion on me buying a house. Yes I am unemployed, yes I have a large amount in savings set aside for this situation, and then I got a little chunk coming that will primarily go towards paying the Mustang off, and the rest will go back into savings for everyday expenses, not that its any of your business anyhow, but figured I would tell you since you wanted to know, and FYI I am a service connected veteran with a nice supplemental income from the VA...again none of your business, but because you asked you must feel like its your right to know. I know that when the car is paid off its $400/mo extra that isnt going out the door...why would a person stay in debt when they can have no debts and thus less stress? I dont know about the rest of you but I dont like car payments.
WOW! Again none of your business, but I happen to rent.
And from your opening post of this thread - "I can tell you I am super excited about having an extra $400/mo to play with for sure!!!"
Sounds like someone who is unemployed right?
Oh wait, there is more..."A burnout will be done...on $330 Goodyear F1s...I must be out of my mind, I will try to find a place to do it and film it and post it for you guys."
Again, your opinion of what I do with MY tires is not your concern, well unless you are buying them...which last I checked you aren't. What I do with MY money is totally up to me and has no impact on you.
I would also tell you not to try to make financial decisions for others when you have ZERO clue what their financial situation is, at the end of the day that is my point, nobody asked for money advice, I have a financial plan, and a financial planner that I am working with, you feel free to borrow from people if you want, but I am on a different, much more secure path than that.
I hope NOBODY took offense to this post or thread, that is not the purpose, I hope that everyone can read this learns the point I am trying to make is that buying a house with no job or other debts is not smart, every house will have little things that will need to be done in the first couple years, so keep your income as liquid as possible and NOT tied up in payments on cars and credit cards and all the other stupid stuff so many of us use credit to purchase. I know I am not perfect in how I handle my money, but with a plan and or a planner to help you can make good financial choices, I have made LOTS of bad ones, and in 2003 went into bankruptcy, but still did not learn my lesson until just a couple years ago. I want everyone to have fun with their Mustangs, and build the nicest cars they can, but the most fun you will ever have with a car is when it is PAID OFF!!!
twogts4us, I said some things that are offensive, but your advice on my financial situation was unwarranted and not solicited by me. I dont truly think you are stupid or dumb, however i do feel your investment strategy in this situation is unwise. I dont know the smiley for a handshake, but I hope we can agree to disagree on this
or we could always :Track: but I know you would win that battle probably.with all that being said the moderator should feel free to
the thread if they so desire, I know we got pretty deep there for a bit and WAY off subject.I still plan to do a burnout...
I do so desire.with all that being said the moderator should feel free to
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