The right business for me

[erichtecreator]

Hello everyone. Currently I am 15 years old. My uncle recently purchased my dream car, a Nissan GTR. He has taken me for many rides and I have locked down that car as my dream car. My question is, what business is right for me? The car is about 50-80k used. Should i start a product business, or a service? I have just recently started a lawn mowing business which i plan to expand. I made about 7-8 hundred dollars this year. I also want this car while i am sort of young(25-30). Does anyone have any tips, or ideas for what i should do? And also, i dont want any comments say a 4000 dollar car gets you to point a to b so why buy such an expensive car. Well since second grade i have been dreaming about cars. My uncle works at a honda dealer as a mechanic. I dont know how he has such a nice car and house, but i want to be like him someday. I will work as hard as i need to to accomplish my dream. Please help.;)

[Fulcrum]

Ask your uncle how he did it.

Also, I am going to make the comment of a $4K truck (if you stick with the lawn mowing business) will get you from A to B. I've seen too many businesses fail where the owner would spend all profits/revenue on new vehicles and toys. Could you pull off having your toys in 10 years? I would like to think so, but you will need sacrifice now and start from the bottom.

As for your choice in dream vehicles, don't rule out the classics. A '63 vette would look real good in my driveway.

[Brian Altenhofel]

I dont know how he has such a nice car and house, but i want to be like him someday.

Either good money management or a ton of debt, the former obviously being the wiser option.

As for the "right" business for you... what do you love to do? $700-$800 isn't a lot for mowing lawns... most summertime mowers I know can bring in $20K+, and that's just mowing when school is out.

It's great to have a dream car in mind, but you need to plan how you're going to get there. Your mowing business would be better suited with a cheap pickup and cheap (perhaps self-built) utility trailer. Then you can save part of what you pay yourself over time to purchase your toy. (In case you're wondering, one of those mowers I know personally paid cash for a $40K truck shortly after graduation.)

And when it comes to being in business for yourself, you either got it or you don't. Some people are better suited as employees because they need the additional structure and the reduced stress.

My dream car is a Bugatti Veyron GS, by the way. I'll probably have 500K miles on my current vehicle before I actually get it. I'd actually like to get two - his and hers.

[Harold Mansfield]

Yes, ask your uncle what he does for a living. Hopefully it's legit and you'll get a real world understanding that it's not magic or luck. Sounds like you may be able to use your love of cars to go into business or a career doing something you love.

I'm going to echo what was said before even though I know you don't want to hear it because when I was your age I didn't want to hear it.

I think it's good that you are thinking about your future and entrepreneurship even if your only motivation is a cool car to get girls with. However, an $80k car sounds great while you are living at home with no expenses, but it's not thinking like an adult. Which is fine because you aren't one, and thinking about cool cars is exactly where you should be at 15.

However, between now and 25-30 life will change tremendously. First and foremost you will hopefully be living on your own and paying your own bills. If you are doing well and can afford a $50k-$80k at that point, good for you. Go for it. But more than likely you'll have a few more things going on that take precedent which are more important like rent, food, insurance, you may still be in college, you may be growing a new business, you may even have a family by then.

The bottom line is at your age the only thing you can see is the fun because you have no real financial responsibilities. We were all that way. I got my first brand new car at 19 and it was great because I had no other responsibilities.

Doesn't mean that you grow up and stop having fun, it just means that it's a lot more enjoyable when you can actually afford it after you've taken care of what will be more important things.

Also keep this in mind, 15 year old girls are impressed by a 15 year old boy with an expensive car. However, at 25-30+ a few girls may still be momentarily impressed by the car, but you're going to have to have a lot more game than just that with most adult women.

An expensive car is icing on a cake. Not the cake. Your goals should be much higher with a lot more substance so that you have the kind of stability where you can plan to get whatever car you want by the end of the year, or end of the month, or even end of the day..not in 10 years.

Definitely reach for success. None of us went into business to be poor. Definitely set goals to keep you motivated, but trust me when I say...10-15 years from now that car won't be the most important thing in the world to you.

Besides, in 10 years a Hyundai will probably be $50k and your dream car will be $100k+. If that is your only goal, you're going to have to travel a path to get there. If landscaping is part of that path a truck makes a lot more sense today.

[erichtecreator]

I dont know where everyone got this, but im not dreaming about this car for girls. I want to bring it to shows, and make friends with other cars like mine. In no way do i want this car to bring attention to me at all. My uncle has this car, it looks, and sounds beautiful.

[erichtecreator]

thanks for your response. i would like to continue lawn mowing and like you said, bring in a lot more than i do now. From my dad, he thinks my uncle owns the car, but cant afford it. He can afford only the payments, and this is why he has a new car every 2 years or so. My parents made me a deal that whatever i put in my savings account, they will put in half, so i was thinking...Using that savings account for a down payment later on? and use the job i get then to finance the car. thanks for the only response that actually believed in me by the way. Every one else seems like they want to ruin it for me. I DO think im able to get a car like this if i work hard enough.
Thanks,
Eric

[huggytree]

ill bet your uncle has a house and a retirement fund.

i own a few expensive cars and im age 43.......i dont know any 20-25 year olds that own a $80k car....you would be the first

I bought my first new car at age 19. it was a 1990 Mustang GT for $14k.....all my friends drove around in $500 pieces of junk


i bought my first house at age 23 and had $50k down...this is what your goal should be!!......$50k for a house, not living in an apt. w/ a $80k car

this SHOULD be a LONG TERM goal....it was for me....almost everyone who owns one of these modern supercars is age 40-60......and even then you will probably be in the top 5% of the population......average people drive a used $15k car.....not a $80k used car

plan on working much of your life away to get to the level you want to be at.....i enjoy it and enjoy spinning my tires at 90mph in my gt500 on the little free time i have.....owning a few special cars was always a goal for me since i was in my 20's.....

you picked a very cool car as your goal......its one id like to own as well.....odds are you will never reach that goal, but without goals you will never get anywhere in life....so go for it....just put a house and a good retirement ahead of the car goal

[huggytree]

thanks for your response. i would like to continue lawn mowing and like you said, bring in a lot more than i do now. From my dad, he thinks my uncle owns the car, but cant afford it. He can afford only the payments, and this is why he has a new car every 2 years or so. My parents made me a deal that whatever i put in my savings account, they will put in half, so i was thinking...Using that savings account for a down payment later on? and use the job i get then to finance the car. thanks for the only response that actually believed in me by the way. Every one else seems like they want to ruin it for me. I DO think im able to get a car like this if i work hard enough.
Thanks,
Eric
you have to be in the top 5% to afford a car like this.....are you better than the other 95%?? time will tell......it isnt just about working hard...sure if you work hard and work your life away you can save $20k for a new car.......but saving $80k is another subject.....working smarter is the only way......some people have talents, some dont....you wont be saving $80k cutting lawns and w/ the parents giving you 50%

i have a 6 year loan on my 2013 gt500...i pay $900 a month...i think i put $10k down or so...........its more than my house payment!

i wish you good luck!....its exciting to see someone thinking ahead w/ goals

my dream car is a Ford GT....my GT500 is a bit faster in a straight line, but i just love the looks of it.......if Ford ever decides to make them again i may sell what i have and get one...i cant see $150k-200k for a used car.

[Harold Mansfield]

I dont know where everyone got this, but im not dreaming about this car for girls. I want to bring it to shows, and make friends with other cars like mine. In no way do i want this car to bring attention to me at all. My uncle has this car, it looks, and sounds beautiful.

My bad. You're obviously more mature than I was at 15. When I was that age nothing had a purpose if it wasn't for girls. Didn't mean to assume that you you were like every other normal red blooded teen aged American male.

So you want to go to car shows, and socialize with other car owners. That's actually the same thing. You want it for the hobby and the fun. Nothing wrong with that.

I stand by the rest of my statement. Have higher goals and cars will be the small stuff.

I agree with Huggy, the only people I know or have known or have known of..that drive $80k cars in their 20's either got them from their parents, stole them, hit the lottery or busted hump learning programming and engineering and lucked up and sold a start up to someone for a few mil. Those last 2 are pretty rare.

Assuming you won't be hitting the lottery, the older you get the more other bills and responsibilities start to accumulate in the 1000's a month. $80k cars become more and more unreachable unless you invent or start something successful, make considerably more income than your expenses (and are actually a capable and savvy business person). You aren't going to get there just being a worker unless you are a one of a kind expert in something or running things.

I know of a programmer through a friend that's gotten lucky 3 times in life and invented something that he sold for millions. Each time he blew his wad on cars and highrise apartments and each time he ended up broke. Don't be that guy where the stuff is the only goal because stuff doesn't last. That car is depreciated in value the minute you drive it off the lot and there will be a better one out in 1 year or less.

It's possible. Very, very possible. But reach higher.

[erichtecreator]

Good point. I was hoping gtrs would stop production by the time i was ready to purchase, thus making them a bit cheaper. Or they depreciate more and more as they get older. My goal for the end of this year was to get a business up and running, what that is, i dont know yet. But i think about it every night in hopes of a good idea or some kind of light bulb. I believe i can do it, but I thought i would need a little help when i was younger just so i could do things right when i am older.
Thanks

[erichtecreator]

My uncle is 43 also, fancy that. But the reason i wanted it when i was younger, is so the car still was a modern supercar, and didnt become a classic yet. Maybe when im getting to that age(30-40) there will be another car that i like as much as this one.

[Fulcrum]

My parents made me a deal that whatever i put in my savings account, they will put in half, so i was thinking...Using that savings account for a down payment later on? and use the job i get then to finance the car. thanks for the only response that actually believed in me by the way. Every one else seems like they want to ruin it for me. I DO think im able to get a car like this if i work hard enough.

Good show from your parents for offering to add to your savings. I wish more parents were capable/willing to do this.

As for everyone else that appear to be trying to ruin it - get used to it if you want your own business. I think most, if not all, of us here have heard it in the past and will hear it again in the future. Friends, family, acquaintances, competition, random guy on the street, media, etc all seem to be against the hard working business owner. Listen to what they have to say with respect, but if your research and due diligence screams "this is a no brainer, why are you waiting to start" while everyone says not to, go with what you figure will be best for you.

Finally, I think everyone who has posted here wants to see you succeed and reach your goals. We're just recommending keeping a clear head for what it will take for reaching those goals.

[huggytree]

My uncle is 43 also, fancy that. But the reason i wanted it when i was younger, is so the car still was a modern supercar, and didnt become a classic yet. Maybe when im getting to that age(30-40) there will be another car that i like as much as this one.

GTR is pretty plain looking as far as super cars go.....probably the most plain

there will always be something similar....and your tastes will change

i dont think any moderns will be classics like they were in 1970......very few from the 80's 90's have any collector value...so odds are the GTR wont either...

its not like the GTR will be back to $80,000 when your in your 40's

i recommend buying a new car anyways...why spend $80k for a used car when you can get better performance new from a 15 z06 for the same price....there's always better


we all would like $80,000 cars when were 20.........id shoot for a Camaro or something similar...something more realistic

[Brian Altenhofel]

For some reason I can't get under the $80K mark on the Build & Price feature at Ford when looking at F-250 trucks. At that point, it's tempting to just start looking at the Freightliner Sportchassis trucks that are built just a couple of miles up the road from me.

I just want a truck to haul my Bugatti.

[Fulcrum]

For some reason I can't get under the $80K mark on the Build & Price feature at Ford when looking at F-250 trucks. At that point, it's tempting to just start looking at the Freightliner Sportchassis trucks that are built just a couple of miles up the road from me.

I just want a truck to haul my Bugatti.

Not to derail the thread, but I'll sell you a brand new, fully loaded, set up for towing (5th wheel/gooseneck) F250 diesel for $70K cash.:cool: You may loose your warranty once it crosses the border.:eek:

[erichtecreator]

You're absolutely right, the gtr is pretty plain, but it is also cheap for its performance. I agree the 2015 ZO6 is pretty hot looking. But something in my head is telling me that it would be cooler to have an import car than an american car...such as a gtr or ferrari 360 or lamborghini gallardo.