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SW, if you only have $10K available you need to wait a little longer, IMHO. You are 41 years old, and have only ever purchased 1 car from a dealer? That makes no sense to me, and doesn't need to, just a thought.
You really don't have $10K:
-$3,000 (reserve fund for "sorting 'out" used car, you will spend this amount sooner than later!)
-$1,000 (insurance, just a guess)
-$1,200 (your first set of tires)
-$200 (your first oil change)
-$1,500 (sales tax, just a guess)
-$250 (title, and plates, just a guess)
So, now you have about $2,850 for a down payment.
Have you fully funded your 401K for 2009 ($16,500)? I say, take the $10K and put it towards your retirement fund. Any credit card debt? Pay that down too. The Porsche(s) can come later.
Porsches are fun!
Being responsible is not.
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