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S500 or Condo?

  • Condo

    Votes: 29 74.4%
  • S-500

    Votes: 10 25.6%
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S-500
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Discussion Starter #1
Ok so herez the deal. My Mom and Dad had bought me an S-500 about a month and a half ago. They're friends with the dealer so they got it really cheap and they can sell it for even more. So my parents came to me and asked me if i wanted to give back my S-500 for them to go buy me a condo in a middle-class neighborhood (around CSUN for those of u in southern california). They would use the money from the S-500 for a downpayment and then I'd have to get roomates to pay for the payments. On the plus side I'd be a landowner, on the negative I'll have no car. What should i do
 

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Audi A4
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276 Posts
Get a condo first, and wait a little while.
If you are a landowner, and build equity you can get better finance deal when you get a next vehicle (it seems to be that you will not need to finance a loan to buy a car [:)]).

Anyhow, my point is let the $$$ rolls rather that just spend it.
 

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01 SLK 320 MT6
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Get the condo - it will appreciate, while cars depreciates. You probably could rent the condo out and use money to buy another cool car. So you'll have a condo and a car.
 

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99 E 320
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753 Posts
Buy the condo. You're building equity. By the time you're ready to retire (I know its a long way away), you'll be set.
 

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07 s550 4matic black/black
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agreed. piss on the s-klasse. buy the condo. no more thought about it.

remember: real estate is like sex; get a lot while you're young.

cheers.
 

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Audi A4
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ajm0623 - 3/3/2005 2:02 PM

agreed. piss on the s-klasse. buy the condo. no more thought about it.

remember: real estate is like sex; get a lot while you're young.

cheers.
Wow, that is today's maxim.
 

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300E
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I have to agree with everyone else here, get the condo. It'll be better for you in the long run. And don't get married anytime soon [:D]
 

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SLK 350 MT
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With the S500 you'd have nowhere nice to take the fish that swallowed the bait. At least the condo wouldn't be the only thing going up (in value) !
 

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Mercedes "M32"
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961 Posts
I hate to be redundant, but I'd go with a condo anyday.
 

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2004 Lexus LS 430 Modern Luxury. 2012 Acura TSX (fun fun) Maybe MB again one day...
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Condo handsdown.

Don't even think about picking a car.

What is a car going to do for you in 10 yrs or 20? Even if you don't stay in the condo, you can keep it as a rental and let the renters pay the note down.

Condo.
 

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CLK,SLK
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1,181 Posts
Parking your big expensive S class in front of a rented apartment is not hot. Get the home. Two years from now your new S will be the old body style and you'll wish you'd bought the condo.

Think of all the cars celebrity one hit wanders went out and bought.. The S Class that MC Hammer bought when he was hot is worthless today. Maybe buy a condo and a preowned, but current body style S-Class. I'd hold out for the redesign, it sucks to buy a new car only to find out the redesign comes out the next week.

You remind me of my friend from NY who loves big rims. He gets married and can't decide if he wants to buy an Escalade (and rent an apartment) or a house. Eventually he figured it out.
 

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1996 S600 (Sebastian), 1999 SLK230 Kompressor (Tie Fighter)
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638 Posts
agreed...this, my young apprentice, is what pop culture might very well label a 'no brainer' [8D]
 

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Cast my vote with the "buy the condo" crowd. Real estate appreciates while most cars depreciate. If your folks are buying the condo, you can always take out a homeowners loan and buy a more affordable MB. After a few years of writing off taxes, etc. on your income tax forms, you'll have a nice down payment for a second or better primary car.

This decision, as noted above by aristotled, is truly a no-brainer.
 

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04 G500
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good for you, I had this decision long time ago and chose the other way around, I WAS WRONG.

I chose a brand new M3 rather than investing in an appartment complex with my Brother. He later sold this property (only 4 months ago) for 1.5 mil.

No appt. complex for me and I also no longer have the M3.
 

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S-500
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Discussion Starter #18
BryanMckay - 3/12/2005 7:07 AM

itzezbeinme - 3/11/2005 1:30 PM

ok i officially gave back my S-class and now I'm looking for a condo or house.
Too bad - you could have slept in the car and had the best of both worlds :)
thatz what some of my "friends" told me. but most of them said get the condo.
 

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2004 Lexus LS 430 Modern Luxury. 2012 Acura TSX (fun fun) Maybe MB again one day...
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Man-Du-Ru-Gas - 3/12/2005 8:32 AM

good for you, I had this decision long time ago and chose the other way around, I WAS WRONG.

I chose a brand new M3 rather than investing in an appartment complex with my Brother. He later sold this property (only 4 months ago) for 1.5 mil.

No appt. complex for me and I also no longer have the M3.
Ouch!!!

***

Look at it this way. You could buy a condo, it appreciates in a year or so and you could pull money out and pay cash for the car.

Personally I would never pull from a property, unless it was to maybe get another, but you see my point.
 

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2008 Outback 2.5 XT, 2012 CNG Civic
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Condo, anytime.
And buy a cool W126 for not too much money.
They rock.
 
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