2019 Huracan 580-2
Lol, yes a lot of good advice was shared on this thread; Yea I am, I bought a place in the Entertainment District last September, If I end up purchasing an exotic in the future ill be sure to hit you up too see if we cant meet up at a cars & coffee or such!All good man!
And yes. Technically I live in the 905 but no one would know where the hell that is. So Toronto works well enough. You in the area?
Also, if you want, just ask Russk, Surfah and Lee to be your financial advisors. After reading this thread, I'm hiring all of them
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Very informative response @DiabloClyde I appreciate the time you took to write that; I undoubtingly concur that the conservative route is the better route to take in life, especially when applicable to purchasing liabilities.OP, one of your questions was if someone should spend 20% of their income on their car and expenses. I say heck no. Your income can go to zero a lot faster than your car payments can go to zero. Also the expenses on these cars are rarely what people honestly guess in advance. If you were speaking of yourself when you mentioned 800,000 in the bank then I suppose you could write a check if need be to take your car payment to zero, however at that time when you lose your income is not the time you would be willing to write a big check. So the other thing you need to consider is liquidity or lack thereof. These cars generally take longer to sell and if you are in any way desperate, say for instance you have a cash crunch or loss of income, you will not be achieving top dollar much less selling quickly. Finally, if you lose your proverbial job at the same time others lose theirs then your cars value will plummet even faster and put you in a bigger bind. These things generally happen in tandem so be careful. For these reasons a lot of the other commenters have suggested buying all cash so that they upfront know that they’re not putting themselves in a potential desperate spot. Things to consider.
Amazing man! Good for you! Im downtown there often enough, so Ya hit me up. My "cars and coffee group" hasn't done much this summer yet. Damn covid! But everyone is itching....Lol, yes a lot of good advice was shared on this thread; Yea I am, I bought a place in the Entertainment District last September, If I end up purchasing an exotic in the future ill be sure to hit you up too see if we cant meet up at a cars & coffee or such!