I want to buy a car for $10,000 but I only have $2,000 saved up. Between bills I cant think of a strategy to save that much money. What are some types of investments or any other options available?
2007-11-01 12:56:42 · 7 answers · asked by Jackson 1 in Business & Finance ➔ Personal Finance
invest in off shore accounts
2007-11-01 13:25:50 · answer #1 · answered by Anonymous · 0⤊ 1⤋
I'm sure there are dozens of different ways, but I'd be concerned about the degree of risk that other people brought up.
I might consider looking for a car auction where you can buy a vehicle at a discounted price, and then try and sell it at fair market value or better. Make sure you do your research to minimize the risk.
As previously stated, the higher return you want on your investment, the greater risk you subject yourself to.
2007-11-01 14:09:28 · answer #2 · answered by hedlight 1 · 0⤊ 0⤋
I'm sure you're tired of the snarky responses, but if you could turn $2,000 into $10,000 in one year, why waste the money on a car? Keep investing and retire in a few years instead.
2007-11-01 15:02:18 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Buy $10,000 worth of stuff and then sell it. Seriously . . . in other words, go into the "one man's junk is another man's treasure" business.
Just "learn" values in one area of antiques of collectibles . . . preferably something that interests you . . . and get into it!
I've been in the business 34 years, starting out part-time to make a few extra bucks when my kids were little, grew it into a full-time business with a new, 6,000 square foot building, 3 employees and 2 trucks, etc., etc., etc., without ever borrowing a DIME!!! Recent years I've slowly taken it back down to a one-man, part-time operation . . . in other words, come full circle, though I could have kept making it bigger and bigger if I'd wanted to be greedy.
Along the way I've sold things for as much as 500 times what I paid for them . . . and buyers were happy!!!
2007-11-01 15:50:35 · answer #4 · answered by worldinspector 5 · 0⤊ 0⤋
Assuming monthly compounding, you are asking for a 190% return. There absolutely no way you will make that amount without tremendous risk. Buy a $2000 car at a garage sale.
2007-11-01 13:27:00 · answer #5 · answered by STEVEN F 7 · 0⤊ 1⤋
HARD WORK!!!
you can open your own kiosk at a mall near your house
I have a friend who did just that, you can partner with the distributer and make more then 10K a month.
2007-11-01 14:41:50 · answer #6 · answered by BonBB 1 · 0⤊ 0⤋
Take a loan for the balance
2007-11-01 13:12:18 · answer #7 · answered by Anonymous · 1⤊ 1⤋