To buy or not to buy...sorry, blogish
09-26-2012, 07:50 PM
#33
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Location: Washington
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09-26-2012, 08:17 PM
#34
2nd Gear Member
Join Date: Sep 2006
Location: Johns Creek, GA
Posts: 400
You said you have loan on your 401k. You really need to pay that off before you consider buying a toy. That's smart personal finance. Your retirement is a need whereas the mustang is a want.
After that's paid off you can scoop up a well sorted low mileage used 13 without a depreciation hit OR be in a better position to take on more debt.
After that's paid off you can scoop up a well sorted low mileage used 13 without a depreciation hit OR be in a better position to take on more debt.
09-26-2012, 09:58 PM
#35
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Join Date: Sep 2010
Location: Washington
Posts: 95
You said you have loan on your 401k. You really need to pay that off before you consider buying a toy. That's smart personal finance. Your retirement is a need whereas the mustang is a want.
After that's paid off you can scoop up a well sorted low mileage used 13 without a depreciation hit OR be in a better position to take on more debt.
After that's paid off you can scoop up a well sorted low mileage used 13 without a depreciation hit OR be in a better position to take on more debt.
No I don't, but thanks
09-26-2012, 10:45 PM
#37
I'd say that as long as you've got all the bases covered, go for it. As far as disability worries if you should get hurt... I have no idea what you do for costco, but I would imagine that an investment in gym time would help avoid back injury so that shouldn't be a worry...
Everything else, to hell with it. the 401k loan may just need to be paid off first if it is indeed a significant loan. Unless you're not looking to retire for a LONG time (I'll probably be one of those people as I can't just play golf and shuffleboard for the rest of my life), that loan should be taken as priority A.
However, if I were in your position and the loan wasn't a hefty one, I'd pull that trigger. Unless you're absolutely DYING for an independent rear suspension and maybe a few more ponies and a fresh design (including the interior), go find yourself a good deal and never look back.
P.S: I play battlefield 3, Forza 4, and some Halo. GT: MadStang40. Let's do this ****
Everything else, to hell with it. the 401k loan may just need to be paid off first if it is indeed a significant loan. Unless you're not looking to retire for a LONG time (I'll probably be one of those people as I can't just play golf and shuffleboard for the rest of my life), that loan should be taken as priority A.
However, if I were in your position and the loan wasn't a hefty one, I'd pull that trigger. Unless you're absolutely DYING for an independent rear suspension and maybe a few more ponies and a fresh design (including the interior), go find yourself a good deal and never look back.
P.S: I play battlefield 3, Forza 4, and some Halo. GT: MadStang40. Let's do this ****
09-27-2012, 04:22 AM
#38
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Join Date: Sep 2006
Location: Johns Creek, GA
Posts: 400
09-27-2012, 01:37 PM
#39
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Join Date: Sep 2010
Location: Washington
Posts: 95
My bad Convert....it's not the loan that will be the big jump (well, maybe not BIG, but still it's something!) it's the raises. My 401k loan is pretty teeny!
But, I see your logic.....if it's so small why not get rid of it.
Planning on it come tax return time!
But, I see your logic.....if it's so small why not get rid of it.
Planning on it come tax return time!
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