I am going to get a tow vehicle/ parts hauler/ backup vehicle during the summer but I started looking early at buying one and what seems to be a really good deal came up. I currently am about a $1000 short from it (including insurance and all) without going into my emergency savings. Do I go ahead an get it knowing that I can probably get most if not all money back if I had to sell it or do I just hope I can find as good a deal later? Also part of what is driving this is that my Civic has been a bit of a bitch this month.
Don't take any unnecessary financial risks.
Really depends how quickly you can replenish the emergency savings and how good of a deal it is.
If the answers are "quickly" and "really good" i'd go ahead and do it.
But that's me, and a decision you can answer better for yourself.
Unless you need it now, or it is a deeply spectacular deal, tow/hauler type vehicles are common as dirt. There will be more deals.
92CelicaHalfTrac wrote:
Really depends how quickly you can replenish the emergency savings and how good of a deal it is.
I should be able to fairly quickly. Part of the reason it is a good deal is it owned by some one I am sure will have taken good care of it and it has new tires and it is a fairly good price.
I think I have very good job security since the company I work for just got an order which will increase the amount of business we did this year by 6x from last year.
Do I go ahead an get it knowing that I can probably get most if not all money back if I had to sell it
That's the key.
If it's really a good deal, it's a bad idea not to buy it, knowing you can recoup the money if necessary.
I don't know what sort of purchase price you're looking at. Part of it also depends on what percentage that $1000 represents.
Myself, i rarely buy vehicles that cost more than one paycheck. (Miata really being the only exception in the last few years.)
Zomby woof wrote:
Do I go ahead an get it knowing that I can probably get most if not all money back if I had to sell it
That's the key.
If it's really a good deal, it's a bad idea not to buy it, knowing you can recoup the money if necessary.
This is somewhat what i was going for. If it's a good enough deal, you'd save money buying it now instead of paying more for another later, which ends up getting you more profit (or less loss) down the road when/if you sell it.
Zomby woof wrote:
Do I go ahead an get it knowing that I can probably get most if not all money back if I had to sell it
That's the key.
If it's really a good deal, it's a bad idea not to buy it, knowing you can recoup the money if necessary.
If I lost my job between now and the time I recouped the $1000, I am sure I could sell it for what I bought it for.
Go for it.
I purchased my last E30, barely running for $600 because I knew if nothing else, I would be able to part it for substanially more.
Bought $500 in parts to fix it, never got around to it, traded it for a motor, that I turned around and sold for $3k.
$1900 in profit for very little work.
