| REFLUX |
I noticed that many car enthusiasts sell their car when it's time to move into a house or when their family expands.
Would you? |
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| Flip |
| Hell yeah, I feel I've almost outgrown my car anyway. |
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| RangerMan |
I just gave up mine
i actually feel sick, maybe cuz the car I now have is not exciting.
the only thing gettin me through is, I will a NICER car when time comes |
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| Wookey |
| i just sold my dream car(FD) that i spent 6 months non-stop working on rebuilding it and other crap and drove it for a month then sold it. I'm moving back to BC. This city licks my ass. lol |
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| b18c5crx |
I have made sacrifices for my car. It wont be something i can part with even though it would provided a very very large down payment on a future house.
Tried to sell it prior to putting money into it and no go. just a sign that it will stay:thumbup:
then when the house is payed for more cars can be added to fill the garage. |
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| 95EagleAWD |
Not a chance in hell I'd sell my car for a house in this fucking rediculous overpriced market.
If it was Kelowna or somewhere actually nice, maybe, but I'd rather have the nice car with a smaller house then vice versa. |
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| Godzilla |
hells no. i either want to take my car to my grave or have it take me there.
as Aaron once said, you can live in your car but you can't drive your house. |
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| b18c5crx |
quote:
Originally posted by Godzilla
hells no. i either want to take my car to my grave or have it take me there.
as Aaron once said, you can live in your car but you can't drive your house.
thats as good of a quote as
"if it has wheels or tits you are bound to have problems sooner or later" |
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| not-boosted |
terry this only really applies to people with nice. hinger priced cars . not the ones with cheap ass beaters lol.
I might get a bar of soap for my ranger if iam lucky haha |
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| Godzilla |
quote:
Originally posted by b18c5crx
thats as good of a quote as
"if it has wheels or tits you are bound to have problems sooner or later"
tits or tires, sounds a little better |
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| b18c5crx |
| you know what i mean greg;) |
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| Godzilla |
quote:
Originally posted by b18c5crx
you know what i mean greg;)
i know all too well, your sisters have gotten me in a lot more trouble than any car i've ever owned.
(p.s. can anyone reccomend a good cream for genital itching?:dunno: ) |
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| Supra_devil |
| i didn't give up my supra or my subaru for the house, but if push came to shove i probably would have. but i was buying before the market got retarded |
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| GOT BOOST |
quote:
Originally posted by REFLUX
I noticed that many car enthusiasts sell their car when it's time to move into a house or when their family expands.
Would you?
Terry,
I saved and invested early so I did not have to sell any of my cars. In fact I purchased my supra 2 months prior to purchasing my home.
Is your question focused around the short term, Ie) With in a year to a few months, or are you looking at a medium term term ie) with in 5 years?
My philosophy is that anything is for sale if the price is right.
Short term....if I needed to....yes, I would unload it. Long term and I needed the cash at the value of what the car is today....then yes...I would unload it and invest it for a few years to potentially increase the value of the investment.
Investments for a reg, or non reg depend on how much room I have in my RRSP's. Each have their advantages and disadvantages when it comes to the first time home buyers program set out by CRA..
Why hold onto something that is depreciating in value if you need the cash value in todays dollars in the future. IE) A car.
At any rate.... my answer would be yes. I would unload it for my first house if I needed to as I would be turning the asset into something which is a good hedge against inflation over the long term and has a good track record of increasing in value.
Mike |
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| EK9Hatch |
Short answer...YES.
People can say all they want that this is a over priced market, blah, blah, blah. But guess what? RENTING is going up like crazy too. So why not own instead of rent?
Jamie |
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| tokes |
Why not get the fuck out of here, keep the car, buy a house, live somewhere warm :thumbup:
Arizona here I come, only 5 more years of misery :mad: |
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| EK9Hatch |
quote:
Originally posted by tokes
Why not get the fuck out of here, keep the car, buy a house, live somewhere warm :thumbup:
Arizona here I come, only 5 more years of misery :mad:
Sometimes I think about the same thing :p
Only problem for me, is that you couldn't pay me $500k a year to live in the United States...I completely hate that country (Lets not start a debate of why or why not the U.S. is gay lol)
My other option would be to move back to the East Coast. You can buy a nice house with garage, etc for about 120k. Problem is, is that the economy sucks and I would be working for peanuts. So its a catch 22 really.
Jamie |
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| tokes |
Different strokes for different folks, I guess. I wouldn't mind living there at all, especially if I can get away from this crummy weather. I hate only being able to drive my car for 5-6 months a year.
I just like knowing that after i'm done my Engineering degree I can go down to Arizona and buy a nice fucking house for 220-250K that I can afford to live in by myself. Keep my skyline, and then something like an IS300 for a daily, and start saving for a TT MKIV, an M3, and a 'vette |
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| 240sex |
i would say yes, unless i owned an M3 or the car i'm getting very soon :thumbup: or any nice car
but hey i dont really have to worry too much about that yet i'm still livin at home :D |
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| the_fornicator |
are we going under the assumption that if you did sell your car, would you be car-less or would you just driving something not so cost consuming?
I don't have the fanciest car in the world, but it's definitely my favorite and when I bought my place a year ago I could have opted to get something cheaper, but i didn't. I made it work. No way I would sell my car and take the bus though if I could make it work (only do that as a last resort). |
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| newaccorddriver |
quote:
Originally posted by Godzilla
as Aaron once said, you can live in your car but you can't drive your house.
RV anyone? or possibily a trailor park? |
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| diesekiel |
| I definately would... |
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| SilverZ24 |
I didn't when the time came. But I hate the idea of ever having to downgrade so I made sure I never spent all of my money on a car before I bought a house so I wouldn't have to sell it.
Then I would end up like one of those old guys driving shitty cars but braging about the cool car they used to own way back when. lol |
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| TrevorK |
If you're a true car enthusiast, then selling the car to buy a house just isn't worth it.
If you can't afford to keep the car while buying the house you sure as hell won't be able to afford it again once you've bought the house, got married, had kids, etc, etc....
I've met way too many people that have sold off dream cars and regretted it much later down the road.
If you're really that strapped for cash, take out a loan from the parents, get co-signers, buy a cheaper place for the time being, get a second job, etc, etc....
I hope you aren't now regretting selling your RX7 Terry? |
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| accord90 |
| Never in this housing market, but if prices fall I wouldn't think twice about it. You can rent a room in a house and make money, you can't really do that with a car. |
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| GQsmooth |
| word, i would never in this market...But once it drops, thats when I would probably make my move. |
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| arabian_ryda |
| FUUUUUCK NOOOO!!!!!we ride together we die together |
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| stealth |
Of course I would. Then I would use the equity to build a even better car.
But, I don't think I will. |
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| EK9Hatch |
quote:
Originally posted by TrevorK
If you're a true car enthusiast, then selling the car to buy a house just isn't worth it.
If you can't afford to keep the car while buying the house you sure as hell won't be able to afford it again once you've bought the house, got married, had kids, etc, etc....
I've met way too many people that have sold off dream cars and regretted it much later down the road.
If you're really that strapped for cash, take out a loan from the parents, get co-signers, buy a cheaper place for the time being, get a second job, etc, etc....
I hope you aren't now regretting selling your RX7 Terry?
It all comes down to priorities though. Having a nice dream car is great if you are a single guy and don't mind living with your parents until you are 48.
But if you have a gf or wife and are thinking about a family someday (I know there are plenty of kids on this forum, but we all grow up one day) Then selling that dream car to buy a house is a easy decision.
Cars can come and go, but you always need a place to live.
Jamie |
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| newaccorddriver |
| financially it makes sense to put the biggest down payment possible on a house cause in the long run, you would pay considerably less interest. when it comes time, id sell my car(s) off to make a bigger down payment |
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| 240sex |
quote:
Originally posted by newaccorddriver
financially it makes sense to put the biggest down payment possible on a house cause in the long run, you would pay considerably less interest. when it comes time, id sell my car(s) off to make a bigger down payment
or you get your parents to hoke you up :thumbup: |
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| EK9Hatch |
quote:
Originally posted by 240sex
or you get your parents to hoke you up :thumbup:
Some of us have to do things on our own ;)
Jamie |
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| GOT BOOST |
quote:
Originally posted by EK9Hatch
Some of us have to do things on our own ;)
Jamie
and have never looked back! :thumbup:
Mike |
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| 92_WhItE_H23 |
| word aha, i saved for like 6 months for my first car working as a stock boy at IGA...and even after 6 months all i could afford was a 600$ ford tempo but it was atleast in mint condition no rust or anything..im 22 now and ive sold my last sports car (99 prelude supercharged) about a year ago and im saving to pay down some debt and to build a downpayment for a house...like stealth said, when i buy my home ill use the home to get my next car unless my situation changes before then... |
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| Invalid Zero |
I gave up my Spec V to buy my house. :dunno:
No way would I have sold both my fun cars though. |
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| ae1969 |
If you rephrase your question....... it seems like an easy answer to me?
Selling off your car for a house??
Selling off your house for a car??
:dunno:
Seems easy to me....... That is assuming you are not in your teens.... |
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| tho_chi |
| I think it all depends on the amount of time/money/effort you have put into the car |
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| oldraven |
| Nope. Not for the first house or the second. I drug it across five provinces. I won't be letting go any time soon. |
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| Inzane |
quote:
Originally posted by TrevorK
If you can't afford to keep the car while buying the house you sure as hell won't be able to afford it again once you've bought the house, got married, had kids, etc, etc....
I've met way too many people that have sold off dream cars and regretted it much later down the road.
Yessir!
I figured long ago it'd probably be easier to obtain "the car" before marriage and try to keep it, rather than get married and try to obtain it later. So far that strategy has worked.
In fact the wife & I just finished building a bigger house with a bigger garage so we can now park ALL our cars inside.
Yes, the Z stays. ;) |
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| accord90 |
| I'd forget the house, buy a business worth the 300grand and make 150000 a year bank it and be morgage free by 25 with a house business and a couple cool cars. You can always sleep behind the counter of your store for a couple of years.;) |
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| EK9Hatch |
quote:
Originally posted by accord90
I'd forget the house, buy a business worth the 300grand and make 150000 a year bank it and be morgage free by 25 with a house business and a couple cool cars. You can always sleep behind the counter of your store for a couple of years.;)
Where do I sign up? :lol:
You realize its not just that easy right? If you could buy a business for 300k and make 150k off of it a year, EVERYONE plus their dog would have done it. :p
When it comes to investing...even making 10% of your principle anually would be considered very successful.
Jamie |
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| accord90 |
| Lets just say we got in cheap and it is possible. Research some of the franchises in canada, you'll be quite supprised. |
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| ae1969 |
quote:
Originally posted by EK9Hatch
Where do I sign up? :lol:
You realize its not just that easy right? If you could buy a business for 300k and make 150k off of it a year, EVERYONE plus their dog would have done it. :p
When it comes to investing...even making 10% of your principle anually would be considered very successful.
Jamie
It depends on the business you buy....
Typically you would buy one at 3-5 times its net earnings...
So if it makes 100K a year you would pay 3-500,000 for that business.
Now if you work it you can get close to the 150K.
He is not that far off.
The single fastest way to get ahead or go broke is owning your own business. That is why not everyone succeeds at it. |
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| EK9Hatch |
quote:
Originally posted by ae1969
It depends on the business you buy....
Typically you would buy one at 3-5 times its net earnings...
So if it makes 100K a year you would pay 3-500,000 for that business.
Now if you work it you can get close to the 150K.
He is not that far off.
The single fastest way to get ahead or go broke is owning your own business. That is why not everyone succeeds at it.
Well I guess it may be different if buying an already successful business.
When starting a new business, the first 5 years usually show if you will succeed or not, but I've never heard of a Business paying for its self in as little as two years. :dunno:
That said, I'm also not pretending I'm a business expert :p
Jamie |
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| ReasonOne |
I've done it years ago - and in my opinion, it's worth it.
It hurt to let my baby go. I just tell myself that I will reward myself with something much better down the road.
At the same time, every time I think I'll never get the car of my dreams the occaisonal opportunity always manage to present themselves.
I've owned and passed on many rare, wonderful and rather unique cars. If I really wanted one again it wouldn't be all that hard to find one. I've got connections stretching far and wide. Many years ago I had to sell another dream car to go to college. I still say it was worth it there too. Everything happens for a reason.
If you're meant to get your dream ride down the road - you'll get it. |
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| MAPEX |
| i dont give up my car...i collect cars..:) |
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| Madhouse |
Not a chance in hell. I'd live in a tent down by the river before I'd sell my car. In fact I just dropped $12k into my STi and that would have been a good start on a deposit for a mortgage.
I don't give a flying shit though, my car is my passion in life. |
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| 92_WhItE_H23 |
| we should also add an asterisk "only those who are not supported by thier parents, or have thier parents co-sign everything they buy" basicly if you have nothing but yourself to count on, would you sooner live in low income housing then sell your car to buy a nice house... |
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| Madhouse |
I hope that wasn't directed at me. If it was ...
I have no dependants and I'm not dependant on anyone for what I have. I've earned every penny working a dangerous and shitty job. With that said, I'm very seriously considering buying a small lake lot, putting in services and dropping a nice new winterized tow-behind on it(top of the line for under 50k).
I could do all of this for 1/3 the price of an old, beat up, pos dirt rag, over-priced, crackhouse in the city. The rest as they say ... is gravy. |
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| jordanturbo |
| Personally I would consider myself a car enthusiast, but I never get attached to my vehicles and often bore of them quite quickly. I do most of my own work and have taken on bigger builds, but it doesnt mean much to me, it is fun, but there is always something bigger and better down the road. Selling my car for a house would be the same as selling the car for another. the house would become the project, as well as a cheaper car again, and I would work my way up from the bottom again with cars and houses |
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| ehos |
I love cars. But they are dime a dozen. I would sell any of my common 'modern' day cars in a heartbeat (FD included), because they are, honestly common as dirt. You can find a better, cheaper, nicer model down the road.
But I would NEVER ever ever ever EVER give up my classic car. It's stupid, I might never see another for sale that I could afford. Or, if I sell it, I would really want another to replace it and it would cost an arm and a leg.
Houses appreciate, but so do vintage cars. And there's MILLIONS of houses for sale (common as the dirt they're on), but where am I going to find a 52 CC Split or a 54 Barndoor Deluxe? I sold my 54 and that's the stupidest thing I've ever done. |
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| EK9Hatch |
quote:
Originally posted by Madhouse
Not a chance in hell. I'd live in a tent down by the river before I'd sell my car. In fact I just dropped $12k into my STi and that would have been a good start on a deposit for a mortgage.
I don't give a flying shit though, my car is my passion in life.
I spent double that into my car this past year...then just before its finished, it gets stolen.
It was a big wake up call that it is for the most part wasted money.
Jamie |
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| Madhouse |
quote:
Originally posted by ehos
I love cars. But they are dime a dozen. I would sell any of my common 'modern' day cars in a heartbeat (FD included), because they are, honestly common as dirt. You can find a better, cheaper, nicer model down the road.
But I would NEVER ever ever ever EVER give up my classic car. It's stupid, I might never see another for sale that I could afford. Or, if I sell it, I would really want another to replace it and it would cost an arm and a leg.
Houses appreciate, but so do vintage cars. And there's MILLIONS of houses for sale (common as the dirt they're on), but where am I going to find a 52 CC Split or a 54 Barndoor Deluxe? I sold my 54 and that's the stupidest thing I've ever done.
I feel your pain.
I had a mint 67 firebird when I was a punk 18 y/o. It was a rare model too with fold-down rear seats that were very popular among the oldschool tuners for adding nitrous kits. The guy who bought it is now selling it for more than triple what I sold it for minus the crate motor I had in it.
As far as I'm concerned the same is going to happen with the old STi model body as the hatches mature. People are going to start paying real money to collect these. Money in the bank. |
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