2 months go by and the debt is 4000$, he tells me he needs money fast because of unknown reasons to me and proposes that if I give him another 3k upfront, he'll forget the remaining 1,000$. I went with this and also gave him a laptop for 600$ that i paid 200$ for. which then brought down what i owe to 2,400. I got a loan from my mom and paid him off and we took the title and cleared it through tally and everything was straight.

I've only been the owner legally for 1 week

I spent a total of 6,400$
and have been offered over 10,000$ for it at a local meet.

So Ive decided after getting a sweet deal on a 323ci id rather sell it now to have some money to play with and invest in different places. I am starting to become concerned a little about my future and how comfortably im livin it, rather than how I look in a bmw at 19. I'd rather do this now while I can still get a good amount for the car. As of currently I am purchasing the little things it needs new shift knob, and a missing corner light.

Do you guys see this as a smart move? Should I keep the car until I finish college (2 years left) and sell then?
This is a very very similar car on autotrader http://www.autotrader.com/fyc/...st=21

The way I see it is lets say I get 10,000$ for the car
I buy another for 3500-4000$
gives me a good 6,000$ to play with invest in stocks,
and pursue business ideas etc.

Thank you for any advice/input.

I am a noob to the stock market and am learning the basics now to hopefully feel confident enough to make some investments by the end of year.

You are 19 and now is a perfect time to start to save for your future and set your self up financially and starting with 6K now will only grow more an more decades to come... One thing you sould do is to educate yourself on the styles of investing. Stocks are not the only method and since you are young i would advise against dumping your money in the stock market unless you know what the hell you are doing. There are some guys in this forum that you can contact if you are really inerested in investing in stocks since they know what they are doing and seem to enjoy it, but they will tell you to practice paper trading( trading money that physically isnt there) so if you loose out its not your money...

I have developed a basic investment FAQ at the top of this forum and it wouldnt hurt to take a look at it and it should answer alot of your questions..

But your idea and gut feeling are right, but its your choice... its a nice car but whats more important to you... you got to ask yourself these questions.

Is there a paper trading program? How do you go by that?

Your someday is now. You have the rest of your life to drive the automatic Accord LX and Carmy LE. Keep the BMW.

Once you get it (a luxury car- status symbol) out of your system, you won't be looking over your shoulder wondering what car to get, while you are in your Kia Sedona minivan with two kids in the back.

Cliff: What Token said.

I know exactly where you're coming from I've worked hard saving up for a car so this is not an easy decision for me. AT ALL

Trading is the key word... Not everyone has the nack for swing trading like rico91stand does. He's read countless books and has a strategy and excellent money management... it's best to remain with a long-term fundamental view of the market until you may grasp how it operates and moves. Trust me, you'll lose if you try to follow a system (like rico's) that you couldn't possibly comprehend (yet).

Sell the car. Save the money, invest and explore.

That's encouraging, so you think an investment like VISA wouldnt be worth getting into at my level of comprehension of how stocks work?

Im in the process of ordering books recommended to me about the market

Vouches in Bio

If it is paid off, I don't see what the big issue is. I can understand if you were making 400.00 payments for the next 5 years, but you aren't. Work and save. You don't have a car payment, so saving a nice chunk of change every month shouldn't be too much of a task.

1995 GSR for Sale:
http://www.honda-tech.com/zerothread?id=2110506

Well not really I work running sound for a liveband on sundays that pays me about 100$ each time, and I help a friend clean an office for 50$ on mondays so yea, at the same time im not really saving, a job recently has been really hard to find and Im also attending school this summer

Not to call you out or anything but line up your priorities, establish some stable income before you begine investing. There is no sence in investing if you are unemployed and have no money in the bank for emergencies..

When does your unemployment payments runout? if soon then what do you have planned.

Visa is an okay security, they have a lot of their future growth priced in and they're already trading a HUGE premium (cmpared to mastercard)

I like deep value stocks

-1999 civic Si turbo RIP

Also, do you still have an outstanding debt to your mom? Get the $10k for the car, pay your mom back the $2,400, buy a clean Integra, or Accord, and put the rest into an ING account. If you can live comfortably on the money you're making, just let it sit in the ING account, untill you get some investing knowlege. Earning 3% is better than a kick in the teeth.

Read everything you can on investing, and when you feel you're ready, pull the trigger. Also, congratulations on thinking about your future at 19. I started at 24, and wish I started earlier.

Street Light Garage

how depressing.

Ugh thats still an outstanding debt.

Didnt you orginally say someone offered you like 12k for it at a local meet? What happened to that person?

yea, and I listed it in on the autotrader, no bites yet.

buy a sensible car and start building your savings account and buy a house.