Topic: Buy a car now or invest and buy later? - page 2. (Read 3974 times)
I was in a similar position years ago, invest my money in something or buy a car. I bought the car and after months of repairs, high insurance and bad luck I had to sell it for far less than I bought it and now have very little to show for it. It was a money sucker even though it always started. Ironically it was when bitcoins first invented and I was searching for something non-stock/bank related to invest in. Should have searched harder and discovered bitcoins.
So in your case I would say invest it in BTC even if you would lose everything. Just keep some of your money in fiat and not all in into BTC just in case things change. That way if you make a mistake you have back up money to reinvest when another good opportunity arrives.
If you buy the car make sure you have an honest mechanic check the car out before buying.
Put the 20K in bitcoin now.... buy an ashton martin or ferrari in 2-3 years
This
I have read many times on this board where people wish that they had NOT sold BTC to purchase a car. Taking this into account hubby (aka BitChicksHusband) just purchased a new car a couple of months ago. We paid as little fiat as possible and are now making some painfully high payments. But the goal is to just wait for a few more months, or year at the most, and there is a good chance we can just sell a few coins and pay the car off! 
If that does not happen? Oh well. It is worth the risk to us at this point. The car payment we can live with regardless, but it does make things a bit tight right now.
If that does not happen? Oh well. It is worth the risk to us at this point. The car payment we can live with regardless, but it does make things a bit tight right now. 50% in BTC seems very high to me man. I personally believe in bitcoins future, but it is still a highly risky "investment". People invest or speculate with bitcoin all the time. That does not make it a good idea. You could get burned here.
If you have thought about all that and still want to do it then here is what I would do.
Get the price of the car you want and exchange that much $USD for BTCBTC.
Now start your search for a good deal. If bitcoin is in a growth mode (it mostly is) then by the time you are ready to pull the trigger you should have more than you started with. Buy and keep the change. If the price starts to tank, withdraw and minimize your losses. It is risky, but this is how I buy things with BTC, and it has worked out well.
P.S. I love my Bimmer!
BMW makes the best cars in the world, IMO.
If you have thought about all that and still want to do it then here is what I would do.
Get the price of the car you want and exchange that much $USD for BTCBTC.
Now start your search for a good deal. If bitcoin is in a growth mode (it mostly is) then by the time you are ready to pull the trigger you should have more than you started with. Buy and keep the change. If the price starts to tank, withdraw and minimize your losses. It is risky, but this is how I buy things with BTC, and it has worked out well.
P.S. I love my Bimmer!
BMW makes the best cars in the world, IMO.
Yeah but this can always go wrong. Timing must be perfect then.
Rather than buy outright, can you lease / hire a car? I lease a brand new BMW MSport 330d for £300 ($500) a month. It works out cheaper than buying new when you factor in depreciation, I can put more money into bitcoin now, and I get a new car every 2 or 3 years 
I will buy it used. I never would buy a new car and lose 50% after 5 miles of driving.
Well first off, buying or leasing a new vehicle will always be cheaper in the long run then buying a used vehicle. Period. There is no arguing this. As far as vehicles go, it's best to avoid new cars if you have no intention of keeping that car for a long period of time, as in, it will be the car you keep for many many years. So if you are unsure of this, it's probably better to buy used.
And second, then it all depends on your situation which we have no way of knowing. We don't know how old you are, your health, your job and income, if you really need a car in the first place...it's hard to give good advice without knowing who you are as a person
Your situation might be different then someone elses and it varies from person to person. In that case, the best advice is to judge yourself and decide on your own what's best for you. It was no personal question. I was only asking, what would you do? Speculate in BTC? Or buy something you like (not need)?
I'm with the people that say buy the car on a loan and keep the money in bitcoin. You get the best of both worlds. I got my new Mercedes CLA 250 on a 1.9% loan for 66 months. By then, bitcoin should make it easy to pay off. If not, I can still afford it with my job.
my brother sold his beloved motocycle to invest in bitcoin in may 2013.
now he could buy three new ones,!
now he could buy three new ones,!
50% in BTC seems very high to me man. I personally believe in bitcoins future, but it is still a highly risky "investment". People invest or speculate with bitcoin all the time. That does not make it a good idea. You could get burned here.
If you have thought about all that and still want to do it then here is what I would do.
Get the price of the car you want and exchange that much $USD for BTCBTC.
Now start your search for a good deal. If bitcoin is in a growth mode (it mostly is) then by the time you are ready to pull the trigger you should have more than you started with. Buy and keep the change. If the price starts to tank, withdraw and minimize your losses. It is risky, but this is how I buy things with BTC, and it has worked out well.
P.S. I love my Bimmer!
BMW makes the best cars in the world, IMO.
If you have thought about all that and still want to do it then here is what I would do.
Get the price of the car you want and exchange that much $USD for BTCBTC.
Now start your search for a good deal. If bitcoin is in a growth mode (it mostly is) then by the time you are ready to pull the trigger you should have more than you started with. Buy and keep the change. If the price starts to tank, withdraw and minimize your losses. It is risky, but this is how I buy things with BTC, and it has worked out well.
P.S. I love my Bimmer!
BMW makes the best cars in the world, IMO.
Yeah but this can always go wrong. Timing must be perfect then.
Rather than buy outright, can you lease / hire a car? I lease a brand new BMW MSport 330d for £300 ($500) a month. It works out cheaper than buying new when you factor in depreciation, I can put more money into bitcoin now, and I get a new car every 2 or 3 years
I will buy it used. I never would buy a new car and lose 50% after 5 miles of driving.
Well first off, buying or leasing a new vehicle will always be cheaper in the long run then buying a used vehicle. Period. There is no arguing this. As far as vehicles go, it's best to avoid new cars if you have no intention of keeping that car for a long period of time, as in, it will be the car you keep for many many years. So if you are unsure of this, it's probably better to buy used.
And second, then it all depends on your situation which we have no way of knowing. We don't know how old you are, your health, your job and income, if you really need a car in the first place...it's hard to give good advice without knowing who you are as a person
Your situation might be different then someone elses and it varies from person to person. In that case, the best advice is to judge yourself and decide on your own what's best for you. 50% in BTC seems very high to me man. I personally believe in bitcoins future, but it is still a highly risky "investment". People invest or speculate with bitcoin all the time. That does not make it a good idea. You could get burned here.
If you have thought about all that and still want to do it then here is what I would do.
Get the price of the car you want and exchange that much $USD for BTCBTC.
Now start your search for a good deal. If bitcoin is in a growth mode (it mostly is) then by the time you are ready to pull the trigger you should have more than you started with. Buy and keep the change. If the price starts to tank, withdraw and minimize your losses. It is risky, but this is how I buy things with BTC, and it has worked out well.
P.S. I love my Bimmer!
BMW makes the best cars in the world, IMO.
If you have thought about all that and still want to do it then here is what I would do.
Get the price of the car you want and exchange that much $USD for BTCBTC.
Now start your search for a good deal. If bitcoin is in a growth mode (it mostly is) then by the time you are ready to pull the trigger you should have more than you started with. Buy and keep the change. If the price starts to tank, withdraw and minimize your losses. It is risky, but this is how I buy things with BTC, and it has worked out well.
P.S. I love my Bimmer!
BMW makes the best cars in the world, IMO.
Yeah but this can always go wrong. Timing must be perfect then.
Rather than buy outright, can you lease / hire a car? I lease a brand new BMW MSport 330d for £300 ($500) a month. It works out cheaper than buying new when you factor in depreciation, I can put more money into bitcoin now, and I get a new car every 2 or 3 years
I will buy it used. I never would buy a new car and lose 50% after 5 miles of driving.
TATA Nano costs $3000 add Nitrous installation and rims for $5000.
you can leave the other $12k in BTC
50% in BTC seems very high to me man. I personally believe in bitcoins future, but it is still a highly risky "investment". People invest or speculate with bitcoin all the time. That does not make it a good idea. You could get burned here.
If you have thought about all that and still want to do it then here is what I would do.
Get the price of the car you want and exchange that much $USD for BTCBTC.
Now start your search for a good deal. If bitcoin is in a growth mode (it mostly is) then by the time you are ready to pull the trigger you should have more than you started with. Buy and keep the change. If the price starts to tank, withdraw and minimize your losses. It is risky, but this is how I buy things with BTC, and it has worked out well.
P.S. I love my Bimmer!
BMW makes the best cars in the world, IMO.
If you have thought about all that and still want to do it then here is what I would do.
Get the price of the car you want and exchange that much $USD for BTCBTC.
Now start your search for a good deal. If bitcoin is in a growth mode (it mostly is) then by the time you are ready to pull the trigger you should have more than you started with. Buy and keep the change. If the price starts to tank, withdraw and minimize your losses. It is risky, but this is how I buy things with BTC, and it has worked out well.
P.S. I love my Bimmer!
BMW makes the best cars in the world, IMO.
What if it really crashes and will never come back to the actual price?
You BMW drive would have about 99.99% more chances to do that
Rather than buy outright, can you lease / hire a car? I lease a brand new BMW MSport 330d for £300 ($500) a month. It works out cheaper than buying new when you factor in depreciation, I can put more money into bitcoin now, and I get a new car every 2 or 3 years
Sorry for the late reply, had to go after posting this question.
The car thing is, I know I dont need it. But why should I always live worse? Why not give you some nice present after all that hard work you´ve done? What if you die next year? You saved all your money for what? Is it not important to enjoy live? And who knows if BTC will not crash next year and our BTC´s will be worth cents?
I am not sure if it is clever to go 90% in BTC. What if it really crashes and will never come back to the actual price?
Actually, the car that I want is the 120D BMW Coupe in white. It will cost me $20k.
I actually drive an 14 year old Golf IV TDI wich still does his job.
Nobody knows where bitcoin will go to. If I knew, BTC will not crash any time, I would go full in BTC. But if you lose all, then you will think, why did I?
The car thing is, I know I dont need it. But why should I always live worse? Why not give you some nice present after all that hard work you´ve done? What if you die next year? You saved all your money for what? Is it not important to enjoy live? And who knows if BTC will not crash next year and our BTC´s will be worth cents?
I am not sure if it is clever to go 90% in BTC. What if it really crashes and will never come back to the actual price?
Actually, the car that I want is the 120D BMW Coupe in white. It will cost me $20k.
I actually drive an 14 year old Golf IV TDI wich still does his job.
Nobody knows where bitcoin will go to. If I knew, BTC will not crash any time, I would go full in BTC. But if you lose all, then you will think, why did I?
Hi,
I have a decision to make and am not sure what to do. So I already invested 50% of my cash into BTC for long term. Now I have about $20K and I need/want a car for 3 years now. I found three nice cars but am not sure if I should buy one of them now? Or better invest those $20K in BTC and speculate?
Maybe when I invest, I will lose it or if things goes well it will double in a few months and I could get the car for free. I need and want this car, there is no discussion about if it makes sense to buy a car or not.
So, what would you do? Go full (90%) BTC and speculate? Or get the car now and enjoy the ride?
I have a decision to make and am not sure what to do. So I already invested 50% of my cash into BTC for long term. Now I have about $20K and I need/want a car for 3 years now. I found three nice cars but am not sure if I should buy one of them now? Or better invest those $20K in BTC and speculate?
Maybe when I invest, I will lose it or if things goes well it will double in a few months and I could get the car for free. I need and want this car, there is no discussion about if it makes sense to buy a car or not.
So, what would you do? Go full (90%) BTC and speculate? Or get the car now and enjoy the ride?
even if u don't plan to invest in BTC further, why would you wanna get a car for $20k ? all u need is a car safe enough to get u from point A to point B, $10K is more than enough for a decent used car the rest diversify it into litecoin.
Put the 20K in bitcoin now.... buy an ashton martin or ferrari in 2-3 years
Spend 5k on the car and 15k on BTC. There are plenty of decent cars for 5k.
this. get a car that drives and put the rest in bitcoins; you will have both the car and couple dozen more coins. new cars depreciate almost as quick as bitcoin grows.
Actually, I would put half into a car, and half into BTC. You can get a really good car for 10k that will give you very few problems and will be fairly new so you won't have to worry about costly repairs or potential problems, at least not for a few years. Hell, you could even get a loan for a new car and put 10k down, and just use the 10k dollars in BTC reserves to help pay off the loan over time, also could help pay for the insurance, so you won't have to worry about that.
Or you could get the car for $10k, and not even worry about a loan, just keep your BTC reserves on the side for emergencies like repairs or paying for insurance. That way you won't exhaust all your bitcoins, have a decent car, and if the value of bitcoins goes up, you'll retain any lost bitcoins payed for repairs or insurance payments from the inflation of the coin. And if bitcoin crashes, at least you have a good car
Spend 5k on the car and 15k on BTC. There are plenty of decent cars for 5k.
this. get a car that drives and put the rest in bitcoins; you will have both the car and couple dozen more coins. new cars depreciate almost as quick as bitcoin grows.
First of all you dont "NEED" a car just like you dont need to breathe, you choose to need a car. Personally, I sold my car and invested in Bitcoins and in 2020 I will get one of those self driving Mercedes because I DESIRE one to drive me around while I look at my Bitcoins on my big touch screen listening to ice cube and 2pac.
Invest in Bitcoin at the end of this bear market, hold until the top (or close to) of the next bull market and then buy yourself a luxury car.
congrats on already having 50% of your savings in. If your young with no commitments i'd
1/3 Car
1/3 Stuff happens fund
1/3 More bitcoin
just an idea.
Please post a pic of car once you get it
1/3 Car
1/3 Stuff happens fund
1/3 More bitcoin
just an idea.
Please post a pic of car once you get it
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