Prospective Owner... The Second Time Around

[loxx]

Thank you Ron. I believe ERA will also do completed cars for a price. I'd have to go that route for a new one just due to lack of time.

[patrickt]

Originally Posted by loxx

Thank you Ron. I believe ERA will also do completed cars for a price. I'd have to go that route for a new one just due to lack of time.

ERA will do anything if you throw enough money at them. But, a nicely decked out turnkey ERA car is knocking on the six figure door -- with a year wait time. To finance that, even with a 20% down payment, you're going to get a monthly debt service payment of over a grand, and the total interest you're paying over the life of the debt would be enough to buy a new daily driver.

You're only 28, start putting money in to a dedicated fund, even a "Christmas Club" account, and send a down payment to ERA about a year out from when you'll have the cash accrued. That way, you'll still be in your early 30's and you'll avoid the danger of making a stupid financial decision.