Investment Advice For Chris S
01-16-2003, 07:07 PM
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Investment Advice For Chris S
Chris,
Yes, the stereotype that Dentists and Doctors are poor business/investment people is true. However the "investment" in the S2k has been a wise decision IMO.
Had I invested 32k in Tech Stocks in August, I would have approximately 15k now. If I had invested 32k in Enron in August, I would have nothing now. If I had bought 32k worth of beer in August and you drank it all and gave me the cans, I'd have about $300.00.
My $30,000 investment in August is still worth about $29,000 now. Which investment out to be most prudent?
Yes, the stereotype that Dentists and Doctors are poor business/investment people is true. However the "investment" in the S2k has been a wise decision IMO.
Had I invested 32k in Tech Stocks in August, I would have approximately 15k now. If I had invested 32k in Enron in August, I would have nothing now. If I had bought 32k worth of beer in August and you drank it all and gave me the cans, I'd have about $300.00.
My $30,000 investment in August is still worth about $29,000 now. Which investment out to be most prudent?
01-17-2003, 05:07 AM
#2
yeah yeah yeah...I've heard those arguments.
In fact, I sold MSFT LEAP options when MSFT was trading at $95 to pay for my Supra Turbo, which funded my S2000 @ trade-in (w/ several thousand left over). Had I not sold, they would have expired worthless.
Still, buying a new car every year hardly qualifies as a sensible investment, esp. when you add in taxes and other transaction costs...not to mention the time, $, and effort to "personalize" your car. Believe me, I'd love a new one myself, but all my rides are paid off and I'm going to wait until Honda substantially revises the S2000 to consider a change.
Your S2000 has depreciated far more than $1K over the time you own(ed) it. Should you only lose $1K, you either got an exceptional deal on the purchase or found a real dumbass to buy it. Hope you're not valuing it by KBB or NADA, as those values always seem impossible to actually realize.
Of course, being a dentist often means making enough $$$ not to care about such petty matters!
In fact, I sold MSFT LEAP options when MSFT was trading at $95 to pay for my Supra Turbo, which funded my S2000 @ trade-in (w/ several thousand left over). Had I not sold, they would have expired worthless.
Still, buying a new car every year hardly qualifies as a sensible investment, esp. when you add in taxes and other transaction costs...not to mention the time, $, and effort to "personalize" your car. Believe me, I'd love a new one myself, but all my rides are paid off and I'm going to wait until Honda substantially revises the S2000 to consider a change.
Your S2000 has depreciated far more than $1K over the time you own(ed) it. Should you only lose $1K, you either got an exceptional deal on the purchase or found a real dumbass to buy it. Hope you're not valuing it by KBB or NADA, as those values always seem impossible to actually realize.
Of course, being a dentist often means making enough $$$ not to care about such petty matters!
01-17-2003, 05:36 AM
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Who waits a whole year to trade out their cars? Only had mine 7 months.
Dealer traded out my car with net out of pocket expenses to me of less than $400.00. Took all of my "personalized" (S2k license plate frame) stuff off. Done deal.
$400.00 for a car with 8 miles on it, new inspection sticker and license for another year, new tires..... and of course, the new car smell which is priceless.
Seriously though when are you Austinites planning another drive? I would like to lead the hypovelocity group. I've been having a hankering for some Salt Lick BBQ. Give me a few days to break in the car though.
By the way Dentists don't make near as much $$$ as IT guys or Dellionaires. No way a dentist could buy a new car every year. But a Krispy Kreme franchise owner could!
Only had mine 7 months.Dealer traded out my car with net out of pocket expenses to me of less than $400.00. Took all of my "personalized" (S2k license plate frame) stuff off. Done deal.
$400.00 for a car with 8 miles on it, new inspection sticker and license for another year, new tires..... and of course, the new car smell which is priceless.
Seriously though when are you Austinites planning another drive? I would like to lead the hypovelocity group. I've been having a hankering for some Salt Lick BBQ. Give me a few days to break in the car though.
By the way Dentists don't make near as much $$$ as IT guys or Dellionaires. No way a dentist could buy a new car every year. But a Krispy Kreme franchise owner could!
01-17-2003, 05:46 AM
#4
OK, so what's the real story here? I know you mentioned something about extenuating circumstances. Something's up for the dealer to pay you more than their wholesale cost on a new one. No way I could come close to such a low cost swap!
Congrats on your nearly free new ride - wish I was so lucky!
Congrats on your nearly free new ride - wish I was so lucky!
01-17-2003, 05:54 AM
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The dealer bagged on his car (and he got it recorded on his dictaphone that was accidentally left in the car) with less than, or right around 1000 miles on the odometer.
He made them give him the next new black one that came in.
He made them give him the next new black one that came in.
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