For those of you with HIGH end spare cars, IE 75-80 plus...

Yeah, threads like this remind me I'm definitely in the " have not " category.

 

When Dad's dealership was open, we used to watch all the cars heading to VIR.

One Friday, we watched Viper after Viper heading to VIR for a Viper Day.

The story I heard is one guy overcooked turn one on his Viper on the first lap and did enough damage that his day was done.

Then his friends started teasing him.

He got pissed and got on the phone.

His dealer delivered him a new Viper by lunchtime.

It's a whole different world.

 

This. I have too many toys that I don’t use that add up to over that amount. A) if it’s going to depreciate don’t finance unless you can do it as you stated. B) who cares what others think c) is it worth that much to you. If the answer is yes that a $1300 a month payment is ok for something you use even once a month that it’s justified if you can afford it. I have stuff I use once a year but it’s worth it for me to keep them for that one time I want to go play. I bought a brand new Jeep and tore it apart with 22 miles on it as a toy. 5.5 years later it only has 50k or so on it and I still use it as intended. Total irrational purchase but bouncing off rocks and trees makes me smile.

 

Or just tell them what I do, “I can retire at 52-55 depending on if kids get scholarships, yourself?” None of my business - exactly and so are my irresponsible purchases.

 

That's news to me, unless something has changed recently, however, I agree it'd be a smart to double check with your accountant. It's always been my understanding that HELOC's can be used for a variety of expenditures...ie... on home improvements, consolidating expenses (credit card bills, auto loans, etc) and even a vacation I've read online before.

 

changed in 2017....

https://www.schwab.com/resource-center/insights/content/is-interest-on-heloc-still-tax-deductible

 

Yikes, there goes my future Porsche/Vette/Viper/Hellcat or Stang in one fell swoop! LMAO!!!

 

If you was a cop in NJ and didnt get one as a gift already....