Quote:
Originally Posted by Unregistered
Only if you are holding stable jobs.
What I did in 08/09 was to keep driving my old car, and instead used the war chest of money to pick up oversold stocks and my current home at a discount. When the stock recovered and my stocks value multiplied, and my car COE expired, I then bought myself a new car when the COE was around $27k. Not at the lowest, but at least I got the car & COE for "free" - paid for from the gains from stocks.
So, I am going to do the same again in the current stock market rout. Look out for and pick up oversold stocks and wait for them to rebound. The $150k you wanted to pay for a car, can grow multifold when invested in the right stocks at the "right" time. You can then have 1 or two "free" cars when the market recovers. |
I took a slightly different approach. In 2009, I bought a new car,
COE was $3,000. I am still driving it today - just turned 7 years old. Very low depre, so I am keeping it.
At the same time, in 2009, I sold my apt. Despite the crisis, I still made 50% from the 2005 purchase price. But it was a small place, so the actual quantum/profit wasn't huge. But it was enough for me to put that profit into a down-payment bigger apt in district 9, bought for just above $1k psf.