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Old 10-06-2014, 02:42 PM   #1
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I need to make a decision soon... HELP!

Hello Friends!

I've been a Mustang fan for YEARS (I'm 26, from Spain) but the first chance I had to own a Mustang I passed because I couldn't afford the running costs, insurances, etc because of my age. Here in Europe it's harder and most expensive to have a car like that (even the base V6).

So now I started two companies like three months ago. I'm going to get a $30.000 loan to grow my business and be able to satisfy the demand. The thing is I found a GREAT Mustang V6 and I test drove it. 2001, white, convertible, automatic. Everything is stock -except the wheels, but I love them. It's like $7000, which in Spain is a bargain considering Mustangs are very very overpriced because it's not a common car at all.

I'm selling my 328i for $3500 so with a little bit of money from the loan and that I could buy FINALLY my first Mustang. I love it and my girlfriend LOVES it, BUT- I had to cut down some working hours to three of my employees and underpay the others this first months. I'm worried that if they find I bought a Mustang they might get upset with me. All of them are friends of mine, and I'm willing to pay them the rest of their salaries as soon as I get the loan and buy the new apparel to grow the business (it's a burger restaurant based partially on your american "Five Guys") but you know...

Having two loans I wont be able to get a third one for a car, so maybe this is the time, the only chance I have to fulfill my dreams. I've worked really hard for years to build these two businesses, and I had to make adjustments but I know with this loan everything will be OK for months and things will start paying themselves.

So the question is guys... What should I do? Thank you in advance.
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Old 10-06-2014, 02:43 PM   #2
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Sales are great, but they're growing so fast I can only pay for food and new apparel (cooking material, fryers, etc)
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Old 10-06-2014, 03:24 PM   #3
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Wait on the car. Get that business stable and manageable and then worry about the car. If you do well in the business, the car will come without any stress and you won't have to worry about any of this kind of stuff.
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Old 10-06-2014, 03:29 PM   #4
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Sales are great, but they're growing so fast I can only pay for food and new apparel (cooking material, fryers, etc)

Stick with the business, don't take a chance on alienating your employees and forget the Mustang...for now. When you are making good money take a vacation to the USA and ship one home. It's cheaper that way and you will have a much greater choice from which to choose. Best of luck.
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Old 10-06-2014, 03:41 PM   #5
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Wait on the car. Get that business stable and manageable and then worry about the car. If you do well in the business, the car will come without any stress and you won't have to worry about any of this kind of stuff.
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Originally Posted by bigmac3 View Post
Stick with the business, don't take a chance on alienating your employees and forget the Mustang...for now. When you are making good money take a vacation to the USA and ship one home. It's cheaper that way and you will have a much greater choice from which to choose. Best of luck.
I agree with these two guys. Remember you don't only have a business to run but you have others working for you; if you go for the mustang now who knows how business may turn or how your employees may react. When your businesses are stabilized you'll be able to get yourself that Mustang you have always wanted so badly! For now your priority shouldn't be a mustang but those businesses.

Like bigmac said when you're making some good money take a trip over here to the USA and get a mustang and export it. Aren't the 2015's going to sell in Spain also?
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Old 10-06-2014, 03:51 PM   #6
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These guys beat me to it!

I know that it's tempting to divert some of the funds to reward yourself for all of the hard work but it will feel all that much better when you reward yourself from profits of your business when it is free of any loans and you have a solid revenue stream flowing into your bank account.
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Old 10-07-2014, 08:57 AM   #7
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Get loan. Grow business. Treat your employees well, they are your greatest asset. Pay off loan. Run business on cash flow. Pay for car in cash. Be happy.


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Old 10-07-2014, 03:02 PM   #8
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I need to make a decision soon... HELP!

Quote:
Originally Posted by C3RV4NTE5
Hello Friends!



I've been a Mustang fan for YEARS (I'm 26, from Spain) but the first chance I had to own a Mustang I passed because I couldn't afford the running costs, insurances, etc because of my age. Here in Europe it's harder and most expensive to have a car like that (even the base V6).



So now I started two companies like three months ago. I'm going to get a $30.000 loan to grow my business and be able to satisfy the demand. The thing is I found a GREAT Mustang V6 and I test drove it. 2001, white, convertible, automatic. Everything is stock -except the wheels, but I love them. It's like $7000, which in Spain is a bargain considering Mustangs are very very overpriced because it's not a common car at all.



I'm selling my 328i for $3500 so with a little bit of money from the loan and that I could buy FINALLY my first Mustang. I love it and my girlfriend LOVES it, BUT- I had to cut down some working hours to three of my employees and underpay the others this first months. I'm worried that if they find I bought a Mustang they might get upset with me. All of them are friends of mine, and I'm willing to pay them the rest of their salaries as soon as I get the loan and buy the new apparel to grow the business (it's a burger restaurant based partially on your american "Five Guys") but you know...



Having two loans I wont be able to get a third one for a car, so maybe this is the time, the only chance I have to fulfill my dreams. I've worked really hard for years to build these two businesses, and I had to make adjustments but I know with this loan everything will be OK for months and things will start paying themselves.



So the question is guys... What should I do? Thank you in advance.

You're willing to screw the people working for you (friends no less) by cutting their hours and underpaying them to buy your car... You're what we call a scumbag.


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Old 10-07-2014, 07:03 PM   #9
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You're willing to screw the people working for you (friends no less) by cutting their hours and underpaying them to buy your car... You're what we call a scumbag.


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No, sir. I don't need to have that many people working there since we've started the business on a holiday season and now there's half the demand. I just adjusted the numbers to make my business work. It has nothing to do with me buying a car, it was just that I will get the loan anyway, so why couldn't I just ask for a little bit more money to get rid of my old and aging 3 series. It's in not really good condition. And when it dies, I won't be able to ask for another loan to get a decent car... ANYWAY

I won't get the mustang, I should grow my business first. Just that it was VERY tempting and cheap... Thank you all anyway, guys! I feel this is the best choice.
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Old 11-08-2014, 06:49 PM   #10
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Personally man I agree on taking a vacation when your business is ofcourse stable and you can expand and when u do get new management and quality control and all that good stuff come to the usa and buy a brand new one for cheaper an 01 wasn't a very desirable stang personally any mustang of that series would be the 03 terminator and they run 25 grand out here


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