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Re: borrowing from ira
Old 02-27-2007, 08:34 AM   #41
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Re: borrowing from ira

Well, what kind of car is it?
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Re: borrowing from ira
Old 02-27-2007, 12:51 PM   #42
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Re: borrowing from ira

a 350z with under 4k miles & about $9k less than new. a 2005 which was last year they painted'm yellow. just now back from local dealer. test drove the 2007. problem is i didn't fall in love with it. don't know if it is a good roadtripping car. very little storage space and not very comfortable cockpit. also top is not insulated so a little noisy inside. sure do love the lines of that car though.

so then i went to look at a z4 which is about $50k new or $45k used (i like the ones with the bigger engines because i'm a gas hog at red lights--cheap thrills.) but it's kind of tight inside. not much arm room.

now i might be back at the new beemer 335 hardtop convertible due in april. only it's $55k and i might just kick myself in the ass if i spend that kind of money on a car.

pretty much my only other option is a mustang gt vertible which is a comfortable car, fast like i like'm and at a good price but it's american and, sad to say, i'm so sick of visiting the service center just because of that.

i think the only car that isn't a compromise is the bentley continental (only two of them passed me today on the way to the cheapo bmw dealer) but that $180k price tag was a part of someone else's inheritance, not mine.

gotta make decision soon because lease is soon expired. maybe i'll put off decision by leaving for thailand for a few months when lease expires and see how i take to riding on the back of elephants. they don't have to be fast off red lights; they just crush the competition.
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Re: borrowing from ira
Old 02-27-2007, 01:48 PM   #43
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Re: borrowing from ira

And after you come back a scooter might seem speedy.

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Re: borrowing from ira
Old 02-27-2007, 02:26 PM   #44
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Re: borrowing from ira

Quote:
Originally Posted by Martha
And after you come back a scooter might seem speedy.

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Re: borrowing from ira
Old 02-27-2007, 03:10 PM   #45
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Re: borrowing from ira

and that's the er plan. a few years of road trips, parking overnight at motel 6's in an overly fast, too luxurious for me 335 vertible while i still got good reflexes and enjoy using them, followed by a few years on the cheap racing elephants throughout southeast asia and then i'm gonna hoist that scooter onto the boat deck of a 7-knot trawler, ending life in the slow lane, just enjoying the view going by.
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Re: borrowing from ira
Old 02-28-2007, 06:33 AM   #46
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Re: borrowing from ira

Interesting info. I'm also in a temporary cash flow crunch and have been debating whether to go with credit or IRA loan rollover. Credit seems to be a lot less hassle, less pitfalls for a theoretical minimum expense of 2 months' interest.

I also have a 401(k) that I thought I could take a loan from, but the initial answer is "no", and although Martha indicated I might be able to there is still the hassle of finding out for sure and then getting the trustee to believe it, and then there's the $100 loan fee.

So, credit it is. (Actually there may be another option, but there are a few "ifs" and it's too much to explain. In short it's my "accounts receivable".)
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