Automotive

Downpayment for condo vs. Buy G35 or 350z

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  • Feb 7th, 2011 12:07 pm
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Banned
Nov 23, 2006
748 posts
45 upvotes
I bought a 2004 G35 coupe 3 weeks ago and I LOVE the car!!! It is amazing and so worth the money. It truely is a great ride.

That said I used to be in your circumstance 3 years ago (when I was 25) I wanted to put money towards buying a house or buy the G35. Well I put the money towards the house instead of buying the car.

My house in 3 years has appreciated enough where I can pay off my student loans, the G35 and put a little money towards another bigger home and start fresh again.
Deal Fanatic
User avatar
Dec 31, 2001
8234 posts
627 upvotes
Toronto
Well, done, listen to him. And use re-financing.
alamshahid wrote: I bought a 2004 G35 coupe 3 weeks ago and I LOVE the car!!! It is amazing and so worth the money. It truely is a great ride.

That said I used to be in your circumstance 3 years ago (when I was 25) I wanted to put money towards buying a house or buy the G35. Well I put the money towards the house instead of buying the car.

My house in 3 years has appreciated enough where I can pay off my student loans, the G35 and put a little money towards another bigger home and start fresh again.
Deal Addict
Jul 21, 2007
1223 posts
123 upvotes
Well this is an old thread. But considering that it has been about 2.5 years now, what does the OP think of this choice now? Have you got an estimate on your condo? Are you happier?
Deal Addict
May 27, 2005
1288 posts
26 upvotes
holy thread necromancy!

how did you find a thread from 2008 and reply to it?!
Deal Addict
Jan 22, 2007
2543 posts
42 upvotes
GTA
CdTriX wrote: holy thread necromancy!

how did you find a thread from 2008 and reply to it?!

:lol:
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Newbie
Oct 14, 2010
10 posts
1 upvote
Montreal
:razz: What an old thread . It'd be really fun if the OP jumps out now and tells us what he did .

Of course it depends on each one's situations, but i'd say go ahead buy the car, but DO it within your own means. I was 25 when I got my first chevy avalanche, and never regretted a bit of it. I was driving my second avalanche, fully loaded with 20 in wheels when I was 27 and geez it feels good to be full of energy and driving a nice car. The secret ? Work hard, make a lot of money, and find the best deal. Nobody could believe how much I was paying for both of my trucks (they were both rentals, lease-takeovers), it was insanely cheap. I spent around 10% of my after-tax income on those vehicles, including gas, insurance, repairs etc. and i could live with it. And why do u have to buy a condo ? I bought a four-plex rental building and lived in one unit, had three rented out and covered my mortgage. It was a condo for me, two-bedroom was enough for one person right ? I know GTO's housing price is ridiculous but u got to deal with the situation, maybe a duplex ?

It might seem i'm bragging about myself, ya maybe, but the point is, jump out of the loop and take a look at your options from a different perspective. I remember how people reacted to the price i was paying for my trucks, and the return-ratio on my rental property. :razz:
Deal Fanatic
User avatar
Mar 24, 2004
8683 posts
573 upvotes
Toronto
Looking at housing prices, had the OP bought in 08 and sold now... That's a very handsome gain. But now, I wouldn't touch RE until the correction (read; bubble burst) sets in... Which should be in the new few years or so.
Deal Addict
User avatar
Aug 11, 2008
2135 posts
110 upvotes
Regina
I had a similar debate around this time. I decided to buy a modest Mazda 3 and an almost new condo. Condo is worth almost $50k more than I paid, and the car is almost paid off. Life is good.

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