Here are a few important things I forgot to mention in the video. Starting off like I said it is essential to learn how to save and this alone has helped me so much throughout my life. While I knew I could’ve just paid for the car entirely in cash that would've left me with no savings and truth be told that's one of my worst fears lol. I decided to get a loan to avoid that and $90/month is very doable for me. Sadly my bank as well as most others wont hand out a vehicle loan for cars older than 15 years old. The personal loan does have a 10.75% interest rate, compared to 3% or 4% on a vehicle loan, which is high but since I plan to just pay it off asap when I start work, I wont be paying nearly that much interest and at the same time keep my savings. This is the same thing I did with the skyline but with a bigger loan.
The next thing I wanted to mention is how throughout most of the bigger purchases in my life like wheels, project cars, dirtbikes ect. I have always found good deals to begin with and either gotten out even or made money after selling or flipping the items. Not always but usually. This includes the skyline. Buying that car was an investment and I knew that. The R32 appreciated significantly over the 3 years I owned it allowing me to think a little farther out than if it had decreased in value. Now with the 911 I am in the same boat. Was this an even bigger investment? yes absolutely. Is it likely continue to increase in value, absolutely! While putting a lot of money towards a car can be risky, if you pick the right car it can actually benefit you in the long run compared to being a burden, something to think about for your next car as well.
Lastly I kind of ended the video with “have savings” or “have a plan” I just wanted to elaborate on that a little more. Saving in general requires you to think past your next paycheck. Most people think Porsche and think nah, that's too much money. The best thing to do is break it down. Figure out how much you'll need total, how much do you want to pay in cash vs how much you'll want to spend monthly if you need to. The less per month the better but it all comes out in the wash. If you want to save a ton first you'll just be putting money away instead of towards a payment. There are always more ways to make money, might not be a lot but its more towards what you really want. Uber eats has been a great extra tool for me and friends. Flip cars and have fun doing it. Flip shoes or clothes. Pickup a part time job maybe work 2-3 evenings or a weekend morning. It all adds up in the long run. There is always more money to be found!
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14 окт 2024
