My car is dead

[CRG7]

I disagree, because it depends on what your initiative is. I just took out a loan that will be all going into my love for cars, the reason I am okay with it is because by the time I pay it off, I will be finishing up college. The minimal amount of money I make will most likely be wasted on stupid crap, including alcohol, so why not make some use out of the money?

 

Unfortunately, anything can happen that will require your money at any point during which you're still trying to pay off this loan.

 

 

i tried modifying a car...apparently i didn't make enough money to do it right, so i learned my lesson: it's impossible to modify a car without a loan or big income. /nuff said.

 

False. I've never taken out a loan to modify a car. I don't have a "big" income. Somehow, there are still thousands of dollars put into my CRX. As Rob mentioned, it's about patience. Sure, I want my CRX 100% complete to my dream specifications as soon as possible, but there are a lot more things I'd rather (or have to) spend my money on at this point. That's why it's called a "project".

 

 

Everyone who said he should keep his DA is outta their mind

 

/end

 

Not everyone relies on mommy and daddy to buy them stuff. Some people work for what they have, and enjoy and appreciate it that much more.

[Xeryon]

Wrong

 

 

People buy a car for 20k and finance 5 years and end up paying 25k (shoot on the high side). Let's say for argument sake, that the car is worth 0 after 5 years. They wasted 25k.....right? Wrong.

 

-25k

+35k/year

*5 years

=150,000

 

.... (edited so the post was shorter)

 

 

Some people on here have some interesting ideas on finances. At least Hung understands some things.

 

Would you say that anyone who started a big corporation that required borrowing from investors was an idiot, x3772? Just cuz you read one book by one guy doesn't mean you ....(edited for length too)

 

Hung: idea is not complete and TSJohn: right concept applied to the wrong idea. This would get way too off topic to do a full explanation:

 

TS John first: borrowing money from investors is not the same thing as borrowing money from a bank. If your business goes belly up legitimately then you do not have to pay a single cent back to the investors. Investing is not the same as loaning/borrowing and doesn't apply to cars at all.

 

Hung: Your math that you show is 100% correct but does not show the whole picture. If we take your math and add a few things to it to get the whole picture it looks more like this:

-25k

+35k/year

*5 years

=150,000

 

add that I bought a 2k car in cash that might not be 100% reliable, but even figuring downtime and parts I spent no more then an additional 2k in repairs over the 5 years. Using compounding interest or whatever, at the end of that time period I have:

-4k

+35k/year

*5 years

= 171,000

 

and 21000 of that is cash that would be saved toward buying your next car without a loan and would not effect your living budget at all. (and if a person is making 35k a year [espicially if they live in a dual income family] there is no reason that person shouldn't be able to buy a decent car in cash)

 

In short: If dan doesn't want to sink whatever money he has into his car, and hes at the point were it is not a hasty decision then he's golden. Being car poor is no way to be. Loan or no loan. I just hope that he doesn't finance his next car, because you will quickly find out that making a $200-300-400 car payment plus the increased expenses for full insurance coverage will quickly make a dent in available cash to spend for any activities. And as you recently found out; having an unstable income is a bitch too. Losing the job put a hurt on you buying parts for your car in the short term, but if you lose your job and cant afford the car payment then good bye car to the repo man.

[Humphries]

I'm losing interest fast in the car modifying game....since i haven't put anything into it the last 2 months i've saved soooo much money and have been able to enjoy other things like moving to new york and having tons of extra cash to do whatever i want with....it's awesome.

 

I want a decent, reliable car that gets 35+ mpg on the highway....that's really all i want....thanks hung for backing me, i tried modifying a car...apparently i didn't make enough money to do it right, so i learned my lesson: it's impossible to modify a car without a loan or big income. /nuff said.

 

 

i felt the same way.. only i wanted to do it with a VW because they're easier and cheaper to get parts for.

 

if i could do it again though, i'd do the same thing, just wouldnt have bought a bunch of crap i didnt need. like fast food.

[CleanGSR]

Wrong again. When you drive 40,000 miles a year because of your job, a 2000 dollar car will not last you the duration. Then when you get broken down on your way to fix a court recording computer during a jury trial and never show up because of your car.......you get fired. In some jobs where reliability is such a huge issue, there's often no way around financing a dependable car. I absolutely can not take the risk to not make an urgent service call for court because of car problems. For some people like me, owning a higher mileage 2,000 dollar car just flat won't work.

[Humphries]

whos wrong?

 

i was giving my opinion.

 

nevermind.

[CleanGSR]

Yeah, I was talking to the post above yours.

[Xeryon]

Thats fine Hung, I am glad you said I was wrong. Go ahead and keep financing using the 'must have an expensive car with payments in order to have something reliable' and I will continue to save my money and be entirely debt free, including the house, by the time I am 30. I have a plan and that plan is to be retirement eligible in my forties. With the house paid off and proper investing I'll be financially independent by the time I am 45 and will have never had to change the lifestyle I live with the exception of forgoing a fancy car for a couple years in my mid to late twenties.

 

Sorry, its hard to understand your argument when you are trying to argue that a GSR is a financially intelligent decision. I love your car, and I like to spend money like the next person, but buying a sports car (and not an elantra, civic, corolla or similar) is hard to convince me that it was a necessary purchase.

[Kastigir]

You do realize just how difficult it is to be debt-free, in an economy that's run entirely by debt?

[EH6TunerDaniel]

I dont have a job, and my car gets modded. I guess I am lucky, and no, mommy doesnt help me with my car for the past year or so.....

 

I fully respect Dan's decision though. I understand he might not be as interested in modding a car as we are, and wants something practical, comfortable, and reliable. More power to you man, I dont hold this against you at all.

[Xeryon]

You do realize just how difficult it is to be debt-free, in an economy that's run entirely by debt?

 

I know, thats why it is so much more important now then ever before. It is also why other people are so critical of my lifestyle and finance choices. They are so ingrained in the debt system that they cannot invision life without it.

 

Because of my changes to my lifestyle and money handling my wife and I live a better life making about 2/3 of what we did two years ago. We have nice vehicles, a house that is 3 times larger and take twice the vacations we used to, as well as me quitting my old job and starting my own. I took a large paycut, but the financial freedoms of having no (in our case less cause the house isn't paid off yet) debt have allowed this.

 

Oh well. I have killed this topic enough as it is. If you, Hung or anyone else want to continue discussing this lets just start another thread or just send me a PM and I'll debate with you all day long. I don't take offense to any of it. Opinions are like as*holes, everyone has one and they all stink.

 

edit: Stupid profanity filter! you can't change the word as*hole in my adage to butthead and maintain the original meaning.

[CleanGSR]

You do realize that my GSR was used and cost about half what a new civic would.....right? I completely agree that if you have to finance a car, find something used and reliable. But lets say that I decide to get a 2000 dollar car. HOw do I pay for it outright? I have to have a job to save money, and need a car to have the job, so.......... answer please.

 

Debt free is fine.....and having the house paid off is great....but lets see pictures of this house. I'd rather finance a 200k dollar house that will we worth 400-500k in 7 years, but if you'd rather be debt free in a less expensive house that won't increase in value as much....more power to you. Some debt is considered good investing.

 

 

So here's an example......

 

Jane has a job that pays 25k/year and a car paid off. She gets a job offer for 60k/year but it requires drive time and she will be forced to finance a dependable used car to take the job. Should she take the job and finance the car or stay in her old job? Say she takes the job.....should she mortgage a house or wait until she can pay cash? If she mortgages it, she can gain equity while paying it off (more equity than interest usually).

 

Anyway, I'm done arguing about this and we just have different views. I want to be debt free someday too, just I want to be set up as nice as possible by that point. I can see both sides of the view, and hopefully you can too.

 

I'm still laughing that you called my car an expensive car. LOL

[Xeryon]

i'll debate with you all day hung, i like this sort of thing, but move this to a new thread so we stop killing this one, just repost this and we can continue

[90IntegraC1]

JapaneseDomesticMarket-->I don't understand how you can say you're "glad my car is dead." that's a little harsh man. I put hours upon hours into that car, and thousands of dollars. I did the AT-MT swap and LSVTEC during the school year, with a 30 hour a week job, among other things that made it very hard to do the major things myself. I needed the car to get to school (hour away) and work every day of the week. I didn't have the knowledge to everything myself, i'm not going to wing it on something that important. I had a Mercedes tech help out with the AT-MT (he's a honda enthusiest though) and a Honda technician do the ls-vtec build for me. If you honestly think that because I'm not experienced enough to accomplish those things, that I should be out of the car modifying game, that's bull crapt.

 

I'm sorry if some of you think i'm giving up, which in a sense i am, but it's not like i didn't give it a good shot. I was one of the people on here who would make a build thread and follow through, showing all of you every step of the way....i tried...I'm almost 20 now, trying so succeed in school/life and i need to make huge decisions soon that include a house/wife/car/bills which all will require a lot of money; not to mention i still have a 35 minute ride to school even though i transferred. Dumping money into an old car isn't at the top of my 'to do' list. I still want a honda...and i'm sure somewhere down the line i'll throw some mods on there, but nothing as major as the DA experienced....

[Xeryon]

R.I.P. 90IntegraC1 07-31-07

 

The fight is over. I called it.

 

(I know you'll still hang here, but it won't be as the HF tuner I knew you as)

[90IntegraC1]

ha wow...this place is so dramatic.

[Kegger]

Hi Dan, I miss you....

 

 

Please come back more often...

[Ben.]

R.I.P. 90IntegraC1 07-31-07

 

The fight is over. I called it.

 

(I know you'll still hang here, but it won't be as the HF tuner I knew you as)

 

You act as though he's raped a baby or something.

[Xeryon]

Melodramatic bullcrap is my specialty. You want more? I got a whole bag full of this crap and it all gets funnier when you have been drinking.

[coolcat467]

i miss dan too

[Humphries]

he did.

[chris(pa)]

frog

[Ben.]

he did.

 

If he raped a baby, you ate one.

[Humphries]

guilty as charged.

[coolcat467]

awkward

[guythatknowsnothing]

guilty as charged.

 

 

the flesh is tender as that of a baby goat in the spring