NOR-CAL General Chat.

[Steven]

hey man its your money pit

Eh my e30s a money pit too.

[oliver.r]

im nearing the bottom of my pit

[Thizzelle]

yeah but figure buying a new car it would be like $500 a month for lease, insurance and any other maint crap. So I figure if I'm throwing $500 a month at this old car to make it new and upgrade parts, there's no difference. And eventually you won't have anything to upgrade or make new and can collect money for years with no car payment.
For the past 2 years I've had no payments and I have done nothing to my M except for oil changes, see what I'm saying? It's just collecting that money. Now the money goes to my house LOL

[oliver.r]

truth, I just want to enjoy it

[JinormusJ]

NOR-CAL General Chat.

This is the exact argument I use with my stubborn-ass dad about my life choices.

"Buy a new car" he says
"It'll be reliable" he says
"It'll be cheaper to maintain" he says

OKAY. Well...

A new car that I wouldn't mind driving would be an FRS. That's at least $20k starting. That's $20k in the hole already. OKAY well.. Then round in 5 years you own it; EXPENSIVE oil changes, maintenance, etc. probably will come out to about $25k, but it'll only be worth $10k around that time. Investment of -$15k.

Owning my e30. $1k ($700 to be exact) start point. iS value already shoots it up to $4k value off the bat. $2k invested to make it reliable (that a VERY gracious figure). $4k for suspension. $4k for engine/swap/upgrade work. (ALL of which do a certain percentage to raise the overall value of the car, AND can be resold for a sizable percentage of initial cost). Round in another $2k for maintenance. Total investment over the course of 5 years comes out to around -$13k but since most of the investments can be reverse for some return, SUNK investment comes out to about maybe -$7k total for 5 years.


Wait... So which car is more expensive now?
This isn't even rounding in insurance/registration costs.

Money pit or not, an e30 doesn't even come CLOSE to what a money sink a new car is

[Wh33lhop]

99% of cars aren't investments. Buying new has NEVER been a good financial decision.

[oliver.r]

99% of cars aren't investments. Buying new has NEVER been a good financial decision.

this

[Thizzelle]

MAKE GOOD DECISIONS LIKE AN M & MTECH :p

[JinormusJ]

99% of cars aren't investments. Buying new has NEVER been a good financial decision.

I used the term investments very loosely, but yes, I completely agree.

[mbonanni]

Steve probs wanted everyone to be jelly of his neighbors 912.

He won't get it. All talk.

[Steven]

Steve probs wanted everyone to be jelly of his neighbors 912.

He won't get it. All talk.

I mean I never said I was going to get it. I said I might and I'm trying to talk him into selling it to me.... So there's that.

On another note, my dad doesn't like the avez type as. If anyone wants a set and a spare of 17x7.5 with a set of 225/45 let me know.

[JinormusJ]

Steve probs wanted everyone to be jelly of his neighbors 912.

He won't get it. All talk.

Seriously thought you said Steve Jobs.

[bernzpeed]

BMW has a new meaning.

Brake My Wallet

[phreshkid]

BMW has a new meaning.

Brake My Wallet

This guy gets it.


I recalculated my expenditures on my current 2002 project. $30k and MAYBE it'll be done.

Investing: I'm doing it wrong.

[Steven]

This guy gets it.


I recalculated my expenditures on my current 2002 project. $30k and MAYBE it'll be done.

Investing: I'm doing it wrong.

Girl ;)