Do you assume your business will succeed?
- Thread starter o hai guyz
- Start date
There's a difference between certainty of success and betting the farm on a project you're sure will succeed.
Buying a 400k car (is that the price) over 5 years with payments half of your income - that's hilarious.
Curious - are you renting right now or do you own your own home ?
Buying a 400k car (is that the price) over 5 years with payments half of your income - that's hilarious.
Curious - are you renting right now or do you own your own home ?
it's a bad move to buy the car.. it's obvious that you just had a little success in the biz. think of it as short-lasted success. what if your income source went downhill in a month? You'd be fucked. if you want your income to grow, you need to be reinvesting and saving money for "not so hot" months. you aren't ballin' yet. Set some goals, and when you hit those goals, _THEN_ buy the car
If you buy a car you can't afford yet you're an idiot. when i was a boy (many, many years ago) my Dad said, "never buy anything you can't afford to pay in cash for twice over." And obviously he's my old man, so i'm always going to agree with him, but he has never ever been in any debt. And following his example, i haven't either.
Living beyond your means is stupid. Why would anyone ever want to create a massive financial hole? It sounds to me like you're losing motivation and you need a big reason to get motivated. It sounds like you're going through a similar thought process the guru-buying-wannabe goes through when paying for a $2k course. If i buy this, it will work...
Perhaps i'm completely wrong, so maybe you buying this car is not so much a motivator, but a means of showing you've made it, why else would someone who can't afford a car like that buy it?
I would say you should go in that dealership, and look at it regularly. Let the staff know you can't afford it, let them treat you like a cunt, then when you have the money, buy it. But DON'T, DON'T be stupid and do it now.
If you wanna think about buying a new car because you believe it will make you look and feel the bollocks, as well as be motivational, i'd suggest you're simply employing Cialdini's confirmation bias. You're convinced it's gonna change shit. It won't. Not for the better anyway.
Living beyond your means is stupid. Why would anyone ever want to create a massive financial hole? It sounds to me like you're losing motivation and you need a big reason to get motivated. It sounds like you're going through a similar thought process the guru-buying-wannabe goes through when paying for a $2k course. If i buy this, it will work...
Perhaps i'm completely wrong, so maybe you buying this car is not so much a motivator, but a means of showing you've made it, why else would someone who can't afford a car like that buy it?
I would say you should go in that dealership, and look at it regularly. Let the staff know you can't afford it, let them treat you like a cunt, then when you have the money, buy it. But DON'T, DON'T be stupid and do it now.
If you wanna think about buying a new car because you believe it will make you look and feel the bollocks, as well as be motivational, i'd suggest you're simply employing Cialdini's confirmation bias. You're convinced it's gonna change shit. It won't. Not for the better anyway.
That's a good point. I'll go ahead and wait until the new project is at least off the ground and turning profits, and then when I do get it I'll have actually earned it.
I'm sorry to tell you this, but I have to agree with the posters above. I wouldn't ditch half a million for a car even if it would be nothing for me. Simply due to my principles and the fact that I value money I earn.
It's also interesting that all you wannabe-businessmen out there seem to be oblivious to the concept of compound interest. It's this exact phenomenon that causes you to repay considerably more than you've borrowed (no wonder banks are so rich
).
The last thing why I don't think this is a good idea is exactly the fact that your car gets repossessed. You see it's VERY hard to plan a single year in advance, not 5. What if you finance it for 2 years then something unforeseeable happens? Something you have no control of for instance. And you miss a payment and your car gets repossessed. It means then that you've worked 2 years for nothing. Instead of using that money as a capital for instance to finance a(n even more) profitable venue. And giving up 2 years worth of hard-earned money is a brisk can make you VERY bitter indeed
It's also interesting that all you wannabe-businessmen out there seem to be oblivious to the concept of compound interest. It's this exact phenomenon that causes you to repay considerably more than you've borrowed (no wonder banks are so rich
). The last thing why I don't think this is a good idea is exactly the fact that your car gets repossessed. You see it's VERY hard to plan a single year in advance, not 5. What if you finance it for 2 years then something unforeseeable happens? Something you have no control of for instance. And you miss a payment and your car gets repossessed. It means then that you've worked 2 years for nothing. Instead of using that money as a capital for instance to finance a(n even more) profitable venue. And giving up 2 years worth of hard-earned money is a brisk can make you VERY bitter indeed
Don't buy a car.
Get a loan for $400K, spend it on hookers + blow.
That way, if you fuck up, they can't repossess you.
Get a loan for $400K, spend it on hookers + blow.
That way, if you fuck up, they can't repossess you.
Exactly. Drop the "baller" mentality that seems to be so pervasive on WF, invest smart (both time and money), keep your head down and work your ass off. Then treat yourself once you've earned it.
Paying car loans is for the birds, if you're true baller status just pay it in cash, or -- you know, be more modest and get a decent car that goes from point A to point B.
Or just buy cars off the police auction, you can get it 90 percent off because a hooker died in it.
And fancy cars is a negative ROI, but you already know that.
Or just buy cars off the police auction, you can get it 90 percent off because a hooker died in it.
And fancy cars is a negative ROI, but you already know that.
This is a horrible idea. You're trying to buy something you most likely can't afford. Where's the logic in that? On top of that, you're doing it in a way that is going to cost you A LOT more money than it should (5 year payment plan? LOL). Stop filling your head with these ideas man, they're going to cost you a lot of money.
I say go for it and let natural selection handle things. Stop interfering, guys.
Hell no I wouldn't. Why on earth would you assume your business is going to succeed and why on earth would you finance something you can't afford? Terrible idea.
You should probably stop posting in this thread. We understand you're "NOT Ballin exclamation mark exclamation mark exclamation mark" but less introverted individuals like to indulge rationally.
To OP, this is definitely the wrong time to make a useless fucking purchase. Yes, I can relate to the justification, but without any quantified premonition of success, you are going to fall flat on your face. If you are absolutely convinced something is going to work, take the money you were going to throw down on the car + monthlies and put it into some short-term cds or munis. Take a weekend trip while renting from a supercar timeshare and fuck the fuck around in your wastewank porsche, get it all out. Come the week, you'll be focused to pull the trigger on the car months down the road, but hopefully not.
Do I speak from experience? I had my moment in a Flying Spur (take notes, a real car!
) @ClubSportiva this spring. I was reinvigorated to start working again and held a healthy indifference to expensive foreign cars. Though the experience was legendary, substitutes are not few and far between (i.e managing commercial property wealth or staring at 15 grand one Sunday morning in your stats)