Pay bills or buy a 928S4?

[RickM]

I disagree with the statement that there isn't a strong following for 928's. Of course there are many more 911s so they'll get more exposure.

As to the 928 vs Debt ? I agree w/ the majority. Lose the debt and get a low interest loan for the 928 (or whatever toy). If your all over the board on what to get (Duc vs 928) I'd say consider one of the Factory Five Racing Cobras... looks like a blast.

BTW, which way are you leaning?

[jaxon]

Hmmm...That's a tough one......


Emotional vs. Rational



Get it out of your system while you're still young....
otherwise you will obssess on it!



Find the most financially sound way to do it (Very important. If you skip this step, got directly to JAIL without passing home.)


DAD

[stomachmonkey]

20k dropped in your lap. Consider it a gift. Pay the debt and give yourself the luxury of being able to freely do what you want, when you want.

My company is having some difficulty and who knows how much longer I will be employed.

I have 2 debts, my house and the wifes car. That's it.

I put a ton of money up front on the house to lower my monthly nut to the point that I could pay the mortgage on my $450,000 dollar house by working the night shift at McDonald's if it came to it. If I have to sell the wifes car and she drives a beater until things get better we will survive.

If I need to find a new job I am not pressured and have the freedom to make rational decisions.

So I guess my point is, be kind to yourself, you have been given the oppurtunity to put yourself in a position to make the choices that you WANT to make and not the choices that you may be forced to make.

Scott

[Deeks]

Pay the debt off - credit cards suck!!!


......if you have any money left over, go treat yourself to an SSI exhaust system or a set of 7 and 9 inch polished Fuchs !!!!!

[Harold_89_911]

I'm with the majority on this one. Get rid of the credit card debt. Then save up some more money if you want to buy a new toy. If you take a loan to buy a toy, it's not yours...

I personally like the feeling that it is my car sitting in the garage.

I know I'm very boring too when it comes to finances (must be my Dutch upbringing).

[caliber60]

You already have the best car , 911, in the world. Why go for the 2nd class? Pay off the debt and enjoy your 911. Don't think about anything else and be debt free.

[Leland Pate]

Krist, I thought I was insane for buying a $3K ring for my wife.

Which was put on my only credit card. And I'm stressing over the fact that I'm in debt!


Pay off the card, it only makes sense.
I like you Richard, but I get the feeling you are the type (like me) who makes really impulsive decisions (the $15K ring thing) from time to time. It is something I've always had to fight with as well.

[Axeman]

Sorry to bring this up again, but I just finished reading the whole ring adventure story....I'm just dying to ask:

DID WE EVER FIND OUT WHO GOT THE RING?

Cheers,

[IMONBOOST]

Can someone define IMPULSE BUYER?

[Rot 911]

3 words for what to do with that 20K "Drugs and Whores."

[NapTownSpeedy]

New Idea:
Take the $20K and buy some rental property. That way the income stream can go toward paying off the debt and a car. That way when you finish paying for the debt, car, etc you still have "passive income" to buy more stuff.
Kind of funny, just another idea. Doesn't seem like this is much of the "Rich Dad, Poor Dad" crowd. ASSETS! (they put $ in you pocket, not take it away)

[Reg]

if you keep the debt, make sure you get a LOW RATE credit card. These are the cards avaiable that they don't tell you about. ..never read all the posts...just a quik thought. Get a car , and pay off some of the debt is my advise!

[motion]

Of course, *she* kept the ring. It's long gone I'm sure and the money - probably 50 cents on the dollar - went to the fake boobs she use to beg me for... and happy to say I didn't spring for. Thank God. Although in a twisted way you could say I did pay for them. Could you imagine spending $8k for boobs, you divorce her and then some other schmuck is enjoying your $8k? Siiiiiiickkkkk.

Leland, I am an impulse buyer all the way.. and impulse this and impulse that, too. Life is too damn short. I pretty much do whatever the hell I want without thinking of the repurcussions... that's just me.

But you guys are making sense about the credit card debt. I never had any before a couple of years ago and it *does* suck. I think I will take most of your advice and pay them off. Booze, drugs, Ducatis and 928s sound like a lot more fun but I guess there's always next month to worry about that stuff.

[nostatic]

even paying them off, the remaining $5K will buy a lot of crack and "companionship". Sounds like a potential Pelican party to me...

[9XI]

Richard, I have read your posts with admiration for quite a while now. Sorry to hear about your getting raked over the coals. But all the more reason to live life to the fullest every single day.

The path that your fellow Pelicanites have laid out is the right one, IMHO:

1. Pay off the credit cards -- boom $15K.
2. Go to PeopleFirst.com and get approved for the $20K loan. Very, very easy to deal with and they give you a preapproved check to pay the seller/dealer.
3. Put $5k in the bank for your 928 repairs so you are never tempted to ring up the cards again.
4. When you get the next windfall $20K, pay off the PeopleFirst loan.

Your monthly payment on a 5-year loan would be about $390. Or, you could go for a 6-year loan, like I did, and pay $330 monthly.

Go get it.

[cegerer]

9Xi beat me to it! Pay off the high-interest CC debt and take out an installment loan on the 928! -- Curt

[david914]

Speaking from a "been there, done that, got the scars to prove it" standpoint, PAY OFF THE CREDIT CARD! Get a car loan for the 928. The way interest is compounded on credit cards makes it very difficult to pay them off unless you're disciplined enough to pay them off in large chunks. Especially if you're the "impulsive type" like me...

[Two Oh]

Brother Motion, Here is what you do.

$20k is basically popcorn change............so...........

Take your windfall $20k to Las Vegas, go to a black jack table without other players. If you cannot find an empty table ask them to open a table just for you.

You want to play one hand for the $20k.

He or she shuffles the deck, you cut, put up your $20k,
he or she deals you two cards, don't touch them and don't look at the dealers up card. Tell the dealer you stay without even looking at your cards. Turn around from the table, wait 30 seconds, turn around and look at the table. Either your $20k will be gone and you're right back where you were before your windfall $20k [ no big deal, right?] or you will have $40k sitting in front of you. Now you can pay off your credit card and buy the 928 too. I know this takes big balls, but I'll bet you got 'em. Now go get your $40K!



I'm willing to wager if you do this you will win.

Good Luck and Best Regards.

[Deeks]

Two Oh..... You nutter !!

[thrown_hammer]

20K for a 928S4??? Isn't that GTS territory?