A 2007 lexus or a home?

i have inherited a boat load of money, and i really want to use it wisely, so should i invest my money into a 2007 lexus, in which as soon as i drive off the showroom floor, its value depreciates, or should i buy a home, in which its value can surely rise, which seem more logical?

when investing wisely, one does not invest in something that is guaranteed to depreciate in value, like an automobile. go with the wise choice, get the house.

a home....it is the better investment

You will never own a new car. The moment the ink is dry on your signature it's used.

The house is deductible if you are making payments, and within the or four years you could sell at a profit if you don;t need a place to live in.

Rent will go up a lot faster than taxes or insurance. A house is the single best first investment you could make.

A Roth IRA is the second best.

A new car is never an investment. It's a liability.

Lexus makes good cars. That is why you should buy a good USED one.

Leasing cars is for idiots. A used '88 Hyundai is better than any leased car.

I don't know how much you are getting, but spending lots of money just because you inherited it is not a good idea. Why not, instead of throwing money all over the place like most people would do, you do the opposite and think about what you are doing and make smart choices. Let's say you are getting 100k, if you invest that money in the stock market, it is possible that in 20 to 25 years.......no one knows for sure, you could have well over 1 million dollars.........you can almost make yourself set for life, but if instead you go and blow it all on a fancy car, in a few years that fancy car will be worth nothing, and you will have nothing. if you are paying rent now, buying a house wouldn't be a bad idea, but you don't have to spend all of your money on a big house that maybe you really can't afford. why don't you look around and buy an older house and live in it and fix it up as you are living in it, and in a few years you can make lots of money by selling it again, and then go and buy a bigger house. houses are very expensive, not only do you have the mortgage money, you have closing costs which cost thousands of dollars, insurance, taxes, utilitlies, up keep and repair.... it goes on and on. If you don't know anything about investing go and talk to an investment broker at your local bank and ask them for help, or go to Edward Jones brokers or someone like that, you need someone to teach you and assist you, someone that has at least 5 years of investment experience..........I hope this helps, put that money into a savings account at the bank and make 3% until you know what your game plan is........please don't go out and waste it. A nice used car for a few thousand dollars will get you to the same place a $40,000 car will...........

Your "boat load" won't last long if you consider any vehicle, especially an expensive luxury car, an INVESTMENT. Be smart, buy a house. If you need a car, buy a used one.

I think you answered your own question. So why are you asking us?

Cars are the worst investment: Depreciation.

You can build equity in a home.

A nice car that is not necessarily a new lexus (a friend has one that was not a ton of money) and a nice home -- why can't you have both? Why the fabulous car? Sometimes, when people inherit money, they waste it out of guilt.

you know the answer already

cars are the biggest waste of money in the world next to rent!!!!!

Remember house prices don't always go up!!!!!!!!

It sounds like you've got a dinghy-load of money, rather than a boat load, if a Lexus will deplete it. DON'T buy the Lexus as an investment. Wait, you were kidding about your question, right?

If it's your first home, go for it. If you're speculatively investing in real estate after your first question, I'd advise instead to give your money to a competent adult and let them manage it for you. Otherwise you could lose it all and then some.

Enter Your Message or Comment

User Name:
User Email:
Post a comment:

Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.024
Copyright (c) 2011 Financial Crisis Monday, May 28, 2012 - Terms of use - Privacy Policy