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Buying a Vehicle?

Discussion in 'General Investing Discussion' started by Johny_come_lately, 29th Aug, 2010.

  1. Johny_come_lately

    Johny_come_lately Well-Known Member

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    1st Jul, 2009
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    SE Queensland
    Hi,

    I am trying to decide whether to buy a vehicle. It's a tough one, as it will reduce my capital (and create running costs). I have listed all the pro's and con's, researched on the net for the machine I want and found a dealer. However, I am hesitant about withdrawing the money. If it was 2006 I would not have thought twice. I count my dollars these days.

    The vehicle or not? :confused:




    Thanks, Johny.
     
  2. Billv

    Billv Getting there

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    It depends on your personal circumstances
    Do you really need it?
    Is spending the money putting your investments ar risk?
     
  3. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    Do you currently not have a vehicle?

    What will you be using the vehicle for?

    How much are you planning on spending?

    How far do you anticipate driving each year?
     
  4. Johny_come_lately

    Johny_come_lately Well-Known Member

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    Do I need a new vehicle? I have transport at the moment. There will be risks to my investments if I withdraw the money. It will cost me many thousands.

    I don't anticpate racking up high kilometers. It'll be just used around town.

    Maybe I'm going through mid life crisis. Letting emotion judge my decisions. Live for today, that kind of thing. :eek:




    Johny.
     
  5. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    If you're buying it because it will be useful and will make your life easier, then it's probably worthwhile.

    If you're buying it because it will make you happy, then it's possibly not actually necessary.
     
  6. TDFawaz

    TDFawaz Tony

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    I would go for the car! it really helps you in your every day! At least I know how much I need a car!:p
     
  7. Billv

    Billv Getting there

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    I wouldn't.
    Johny resist the temptation.
    You already have a car so make it last another year or so (until GFC2)
     
  8. TDFawaz

    TDFawaz Tony

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    ok, what car do you want to buy and how much does it costs? if you only want a car because you need it, and you don't spend your whole fortune on it it's ok. if you want a lamborghini, then I wouldn't buy it if I were you
     
  9. Johny_come_lately

    Johny_come_lately Well-Known Member

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    After 19 nights of poor sleep and no decision, I flipped a coin. I realize now, that I was trying to predict the future and hence the precrastonation. On one hand was a new shiny and on the other was the future need for my portfolio. I do not know what the future holds.

    So I fipped a coin. It came out heads for using my head.
    So no new shiny!



    Johny.
     
  10. Beck99

    Beck99 New Member

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    I like stock
     
  11. New Trader

    New Trader Active Member

    Joined:
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    Location:
    adelaide
    Johny
    A motor vehicle (unless its a classic or collectible) is classed as a consumable.
    It will depreciate in value and if you have a loan etc it is a very very poor decision IMO.
    However if you have an ABN like myself, and your shiny new is a brand new V8 ute well then the tax advantages make it worthwhile.
    Otherwise mate id steer clear and make do with your current wheels.
    End of the day its your dosh!
    Good luck!