How do i buy a 100k car before i turn 24 (18rn) do i just gamble it all ?and hope to hit jackpot in a casino ?
0
Responsible Adults Come
posted in
General Discussion
Comments:
Threaded
Linear
what you buying an expensive car for?
a normal one is fine and use the rest of the money for smth better like investing, uni(don't get scam by the super expensive but don't really offer any better education ones), and keep some money as emergency funds in case something in your life really goes wrong.
bro over 30 doesn’t mean old. at that age, you can atleast justify some wants if you have a good amount of money. but at 24? you see many young high incomers who buy whatever they want then suddenly lose all their income and go into debt. its not worth it when you let the happy thoughts of buying it float for a few days and you can look at it more objectively.
imma be so honest bro unless you genuinely dream about the car its much smarter to spend an adequate amount of money on experiences/some nice shit that will make you happy but not bankrupt you. Ofc you only live once so if you love it you should go for it, but if its not like a genuine dream for you just save some money and in a few years when you can afford to buy really nice cars then get it/another car that you love.
get a job since ur 18 and besides that learn a skill I say master all AI tools and become a prompt engineer there are multiple courses under 50usd for that . Outsource ur skills . My then thing is study nvidia stock it made me a lot of money . Why this stock specifically cuz Nvidia's stock has a tendency that 1 year before release of their new gpu series not the announcement of the ti cards like their stock becomes pretty cheap usually falls by 30-40% u invest at that point , then you pull out 8-10 months after the new gpus are released but you should keep a close attention to their stock after month 5 ideally . This is the strat I recoomend based of off current market analysis and trends when we see product release vs stock price graph . Like I my entire savings which was from gifts and stuff into nvidia when I was 13 (yes I understood stock market and stuff since age of 9) when their stock price was at around 10.50USD then in 4 years their stock plummetted to 147.60usd iirc then I pulled out . Then after trump started putting tariffs I saw that their price was 110usd I put in all my money again then cashed out when it hit 181.59usd . so ya I am not goona say how much I exactly made but I amost made around 17X after taxes . My example is very unrealistic considering the timeframe but I say u invest in atleast the big companies or companies which are actually doing shit and are delivering good products or gonna get a lot of big governement projects and be in touch with a lil bit of news cuz like say if a country finds a huge oil rig invest in the company which uk is given the project of extracting oil and so on . + dont gamble my guy
Edit : 14.5X after taxes my bad
bro believe me I can give u time line of each time I bought the stock . July 2020 (bought for around 10.50USD) ➡️ November 2024(sold for 147.60usd) ➡️ early march 2025 ( bought for 110.50USD) ➡️ 13 Aug 2025 (sold for 181.59USD) btw made a lot of money considering the money I invested but ya I still the turnover made me happy . I am learning promp engineering rn from an online course + Lead generation and sales automation for some ppl make around 3.5K/month on avg
bro plz dont buy the car unless u have the cash or else it would legit own u and u will be crippled with interest u would pay way more than what is actually the price .
If you really badly want it atleast have 60k downpayment so that u have to pay less interest and would probably get a lower interest rate to being with
He didn't ask you for the key to financial stability
he's 18 and wants a fancy car and you're giving him the cheatcode to make....$200 over 5 years flipping mini-money stocks?
Maybe we're having some kind of cultural misunderstanding here, but the kids that work the fryers at McDonalds are making 32k (USD) a year. Commit half of it to a car payment and he gets to at least enjoy what he wants while being broke
Assuming he gets a real job at some point, that money becomes negligible
Also assuming he's not paying rent or anything else, or he wouldn't be worried about a 100k car.
Crazy how people with no jobs or life experience come here and pretend like they have all the answers lmfao (you, not me btw)
Bro I understand yall culture but the thing is buying a depreciating car with all your money isnt a flex its a liability trap . Look I might be born into a money making culture than a money spending culture but idk abt u but whats better flexing now with debt or flexing later with wealth .
Btw yes I didnt tell him what kind of stock to buy but if u do your reseach properly most large cap companies have atleast increased their stock price by 50% and who says u need to be reliant on one company for financial growth . Index funds , mutual funds and many more also exist .
Maybe thats y ppl in the west are trapped into so much debt cuz they focus on looking rich instead of getting rich .
Abt the experience thing yes I might be 17 but the stock market doesnt care how old u are , it only cares abt ur strat and my works and u think Nvidia is the only stock where I made money ??? Its my best example not my only example . + I make more money then most of the world for my age not just my age but if we look at the world across all age grps
but ig u do you king
Have a stable income job then diversify your money in different markets, try to put some on stocks, on savings, on time deposits, mutual funds, and etc.. Just make sure to check the financial health of the company your buying stocks on. And also be more willing to take risks, just know how much you're willing to risk at that time.
create a company, go to your bank and ask for a loan and say you want to finance the first year to get started before your company starts generating profit (in some cases they might even give you a full year of salary upfront that you get to decide) put some of the money aside every month little by little and mask it as necessary company purchases, buy the car whenever you can, declare bankrupcy, the bank cannot take the car because it's not under your company's name / it's a personal asset, they can't take the money they gave you back either since it was invested into the company but unfortunately the company didn't generate anything and went bankrupt, you as an individual don't have to pay back the debt of the company.
(works in my country I don't know about yours)
That's only true if the Corporation's shareholder has used his assets as guarantees for the loan. If you just have your Corporation take out a loan (which if you're not guaranteeing it with your assets good luck getting one without an absurdly high interest rate) the shareholder is not liable for that debt.
It's called piercing the corporate veil if you want to look it up (there are some exceptions such as if you're essentially using the Corporation to do your own private business).
The answer is to lower your expectations. If you work really hard and save aggressively you can get to a point where you have 100k in the bank by 24, but even then it’s not smart to get a 100k car. Aim to save money, maximize your compound growth over decades, and get your 100k car in your 40s when it’s a lot more feasible
Discord