# Am I a moron if I do this \*Finacial Guys Get in Here\* **URL:** \ **Category:** NYSpeed Automotive\ **Created:** [June 21, 2007, 1:34pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275 "2007-06-21T13:34:35Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![66impalass](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/66impalass/32/7429_2.png) [@66impalass](https://forums.speedlife.net/u/66impalass)\ **Post date:** [June 21, 2007, 1:34pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/1 "2007-06-21T13:34:35Z")
[http://www.autotrader.com/fyc/vdp.jsp?car\_id=224071309&dealer\_id=60355951&car\_year=2005&model=LOTELISE&num\_records=&make2=&start\_year=1981&keywordsfyc=&keywordsrep=&engine=&certified=&body\_code=0&fuel=&search\_type=both&distance=300&marketZipError=true&search\_lang=en&make=LOTUS&color=&page\_location=findacar%3A%3Aispsearchform&min\_price=&drive=&default\_sort=priceDESC&max\_mileage=&style\_flag=1&sort\_type=priceDESC&address=75201&advanced=&end\_year=2008&doors=&transmission=&max\_price=&cardist=238](http://www.autotrader.com/fyc/vdp.jsp?car_id=224071309&dealer_id=60355951&car_year=2005&model=LOTELISE&num_records=&make2=&start_year=1981&keywordsfyc=&keywordsrep=&engine=&certified=&body_code=0&fuel=&search_type=both&distance=300&marketZipError=true&search_lang=en&make=LOTUS&color=&page_location=findacar%3A%3Aispsearchform&min_price=&drive=&default_sort=priceDESC&max_mileage=&style_flag=1&sort_type=priceDESC&address=75201&advanced=&end_year=2008&doors=&transmission=&max_price=&cardist=238) All debt will be paid off in the next two months minus my student loan ($20,000 over the next 30 years), monthly payments worked out to be about 15% of my monthly salary after taxes (on a 5 year loan), all other bills work out to be $1200 a month (Rent, utilities and cable). I would be looking to pick it up in September, guys doesn’t want to get rid of it till then really, when he is deployed. I don’t need something that is reasonable as I have a full size SUV that I will be keeping as a second vehicle. I want something small, fun and tossable for the drive to work and around town or do the more reasonable thing and pick up Moffit’s Z if it is still around by then. ps I suck with money ---
**Author:** ![newman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/newman/32/7569_2.png) [@newman](https://forums.speedlife.net/u/newman)\ **Post date:** [June 21, 2007, 1:35pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/2 "2007-06-21T13:35:29Z")
you can get a better Elise on [elisetalk.com](http://elisetalk.com) for less money. but the car fucking rocks ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [June 21, 2007, 1:36pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/3 "2007-06-21T13:36:27Z")
what kind of interest rate are they giving you? and holding $20k in student loans over 30 years is gonna end up in you paying many times that in interest, you may be better off just paying those off quickly… ---
**Author:** ![66impalass](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/66impalass/32/7429_2.png) [@66impalass](https://forums.speedlife.net/u/66impalass)\ **Post date:** [June 21, 2007, 1:39pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/4 "2007-06-21T13:39:30Z")
My credit union stated I could get a 4.9% rate student loan will be paid off significantly faster than the 30 years, I was just stating it as my only debt ---
**Author:** ![newman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/newman/32/7569_2.png) [@newman](https://forums.speedlife.net/u/newman)\ **Post date:** [June 21, 2007, 1:39pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/5 "2007-06-21T13:39:55Z")
do it. but get white or storm titanium. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [June 21, 2007, 1:40pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/6 "2007-06-21T13:40:41Z")
Seems like an ok idea until I see “Rent” in your list of expenses. No way in hell I’d buy a 35k toy before I owned a house. ---
**Author:** ![93dx\_hatch](https://avatars.discourse-cdn.com/v4/letter/9/90ced4/32.png) [@93dx\_hatch](https://forums.speedlife.net/u/93dx_hatch)\ **Post date:** [June 21, 2007, 1:42pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/7 "2007-06-21T13:42:39Z")
[quote=“JayS,post:6,topic:31275"”] Seems like an ok idea until I see “Rent” in your list of expenses. No way in hell I’d buy a 35k toy before I owned a house. [/quote] I used to be the same way, but being 23 the last thing I want is to mow a lawn, fix shit, have a lot of shit to clean, etc. ---
**Author:** ![newman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/newman/32/7569_2.png) [@newman](https://forums.speedlife.net/u/newman)\ **Post date:** [June 21, 2007, 1:43pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/8 "2007-06-21T13:43:35Z")
I DON’T LIKE GREEN. BUT: [http://www.elisetalk.com/forums/showthread.php?t=41559](http://www.elisetalk.com/forums/showthread.php?t=41559) ---
**Author:** ![Zer0DazE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/zer0daze/32/7624_2.png) [@Zer0DazE](https://forums.speedlife.net/u/Zer0DazE)\ **Post date:** [June 21, 2007, 1:45pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/9 "2007-06-21T13:45:18Z")
[quote=“93dx–hatch,post:7,topic:31275"”] I used to be the same way, but being 23 the last thing I want is to mow a lawn, fix shit, have a lot of shit to clean, etc. [/quote] i like mowing my lawn… its an excuse to get out of doing all the other shit you listed 🙂 ---
**Author:** ![66impalass](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/66impalass/32/7429_2.png) [@66impalass](https://forums.speedlife.net/u/66impalass)\ **Post date:** [June 21, 2007, 1:46pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/10 "2007-06-21T13:46:26Z")
[quote=“newman,post:8,topic:31275"”] I DON’T LIKE GREEN. BUT: [http://www.elisetalk.com/forums/showthread.php?t=41559](http://www.elisetalk.com/forums/showthread.php?t=41559) [/quote] I really don’t like the green either, I really want Arctic White. The reason I was leaning towards this one was because it was relatively close to me (about 3 hours away) about the house thing, I am really fine living in a downtown loft for a couple years to I figure a couple things out (ie is my company going to send me to San Diego when the new office opens or not) ---
**Author:** ![93dx\_hatch](https://avatars.discourse-cdn.com/v4/letter/9/90ced4/32.png) [@93dx\_hatch](https://forums.speedlife.net/u/93dx_hatch)\ **Post date:** [June 21, 2007, 1:46pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/11 "2007-06-21T13:46:30Z")
accident :tif: ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [June 21, 2007, 1:49pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/12 "2007-06-21T13:49:05Z")
[quote=“93dx–hatch,post:7,topic:31275"”] I used to be the same way, but being 23 the last thing I want is to mow a lawn, fix shit, have a lot of shit to clean, etc. [/quote] Doing those things will EARN (not just save) you alot more money over 20-30 years. I dunno about you, but I don’t plan on roll-racing hydrogen cars when I’m 67yrs old. ---
**Author:** ![newman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/newman/32/7569_2.png) [@newman](https://forums.speedlife.net/u/newman)\ **Post date:** [June 21, 2007, 1:49pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/13 "2007-06-21T13:49:52Z")
just noticed it’s got the LSS package. It’s a harsher ride, but a few thousand to opt for. Low miles too. Buy it. ---
**Author:** ![93dx\_hatch](https://avatars.discourse-cdn.com/v4/letter/9/90ced4/32.png) [@93dx\_hatch](https://forums.speedlife.net/u/93dx_hatch)\ **Post date:** [June 21, 2007, 1:51pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/14 "2007-06-21T13:51:57Z")
[quote=“Nikuk,post:12,topic:31275"”] Doing those things will EARN (not just save) you alot more money over 20-30 years. I dunno about you, but I don’t plan on roll-racing hydrogen cars when I’m 67yrs old. [/quote] I know this, but 23 is young IMO what do you plan on roll racing when your 67? ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [June 21, 2007, 1:55pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/15 "2007-06-21T13:55:38Z")
[quote=“93dx–hatch,post:14,topic:31275"”] I know this, but 23 is young IMO what do you plan on roll racing when your 67? [/quote] if anything: [www.lurssen.com](http://www.lurssen.com) :redface: 23 is young. 10k miles on a new motor is young too… would you rather :tspry: a 10k motor or a 120k motor with a couple bolt-ons? ---
**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\ **Post date:** [June 21, 2007, 1:56pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/16 "2007-06-21T13:56:25Z")
wow. for some reason i thought elises fell in a higher price bracket. i hope i can get a sweet job an afford a car like this next year 😃 ---
**Author:** ![layzie](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/layzie/32/7599_2.png) [@layzie](https://forums.speedlife.net/u/layzie)\ **Post date:** [June 21, 2007, 1:58pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/17 "2007-06-21T13:58:38Z")
[quote=“newman,post:8,topic:31275"”] I DON’T LIKE GREEN. BUT: [http://www.elisetalk.com/forums/showthread.php?t=41559](http://www.elisetalk.com/forums/showthread.php?t=41559) [/quote] i like that green ---
**Author:** ![walter](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/walter/32/7202_2.png) [@walter](https://forums.speedlife.net/u/walter)\ **Post date:** [June 21, 2007, 1:59pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/18 "2007-06-21T13:59:45Z")
Don’t ask the financial guys, you wn’t like the answer. First advice is to clearly pay off the student loan MUCH faster than 30 years, look at the cost of the loan even at the menial 3% and you’ll barf. That said, its flex cash, and its yours to do what you want with. You don’t have a pile of debt, so buying toys is a luxury you get (no idea of your income level which is paramount in this discussion). However, if you can put down 50% I’d say go for it in a heartbeat without an ounce of regret. If you can’t put down more than 25%, I’d probably change my tune though, even at a low interest rate, for a fun car, you should be able to pay for some of it up front, so you aren’t getting as hosed on the interest/depreciation combo lover. I’m also assuming your SUV is paid off, and you make more than $80k/yr ---
**Author:** ![66impalass](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/66impalass/32/7429_2.png) [@66impalass](https://forums.speedlife.net/u/66impalass)\ **Post date:** [June 21, 2007, 2:02pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/19 "2007-06-21T14:02:45Z")
[quote=“walter,post:18,topic:31275"”] Don’t ask the financial guys, you wn’t like the answer. First advice is to clearly pay off the student loan MUCH faster than 30 years, look at the cost of the loan even at the menial 3% and you’ll barf. That said, its flex cash, and its yours to do what you want with. You don’t have a pile of debt, so buying toys is a luxury you get (no idea of your income level which is paramount in this discussion). However, if you can put down 50% I’d say go for it in a heartbeat without an ounce of regret. If you can’t put down more than 25%, I’d probably change my tune though, even at a low interest rate, for a fun car, you should be able to pay for some of it up front, so you aren’t getting as hosed on the interest/depreciation combo lover. I’m also assuming your SUV is paid off, and you make more than $80k/yr [/quote] Truck has been paid off for years and yes + 10% bonus. I will be putting 20% down (could do more if I play things right and don’t take the vacation I am thinking of) ---
**Author:** ![walter](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/walter/32/7202_2.png) [@walter](https://forums.speedlife.net/u/walter)\ **Post date:** [June 21, 2007, 2:04pm UTC](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275/20 "2007-06-21T14:04:41Z")
Sounds like fun :tup: [Next page](https://forums.speedlife.net/t/am-i-a-moron-if-i-do-this-finacial-guys-get-in-here/31275.md?page=2)