How come almost everyone I know that went turbo has tried to sell their car within a year of doing it.
I have also noticed that almost none of them were succesful.
What’s the deal with that? I thought everyone wants an SR. :roll:
well in most cases it seems that everyone went over budget or needed money for more important things.
who knows what they did after
mines still for sale… everything is for sale… for the right price.
GT
i dunno, i want something different. And insurance is fuckde.
Yeah the common responses I have gotten from people when I asked were:
“I need to buy a house”
and
“In the end it was just a waste of money” i.e. over budget
Damn … I already made that mistake too now. I wonder why no one can ever sell their car though.
The reason why people can’t sell their cars is because they are not willing to lose any money on it, if you can give up a few thousand dollars as a learning process, you’ll be able to sell the car no problem for cheaper.
Yes, there are a lot of things that come up that can force you to sell your car. I know a lot of poeple with SR’s who have had them for a while now and aren’t thinking about selling their cars. So I just want to say that if you can’t afford the turbo, don’t bother with it.
LOL, Nick, of course you want something different, a sunfire can smoke you from a stop :roll:
the car is hot right now, so i guess people think that they can get the best price for their car these days as opposed to waiting.
buying a house is just as poor an investment as turboing a car anyways, so i dont know about trading one bad investment for another.
everyone goes over budget on these things, it a fact. everyone should be prepared to go at least 20% over their estimated cost.
That’s what happens when you do just a basic SR swap. I know I’m being
an arrogant ego-maniacial ass. Bite me.
Seriously, if you love your car, and love working on it, shouldn’t the end
justify the means? So why sell it?
Perhaps people should think a little ahead before dumping money into a
project that they know they will end up selling.
Sure you can’t predict the future but I’m sure if you play your cards right,
there shouldn’t be a reason to lose your car once you are finished with it.
The 240sx and SR are turning into a fad. Too bad.
If you plan to turbo your car and do all this work you should be keeping it till theres nothing left of it. Most people that sell there car and are in school on a tight budget will probably never get another till after they are done. So many need to stop being stupid and droping money into their car if they expect to sell it because of school or some other reason that they know is going to take money sometime in the future. This is the whole reason my car is still NA, I can blow the money but will prob have to end-up selling my setup for school reasons around christmas and loosing the money I put into the engine and being back to NA again next summer. People don’t plan, they spend spend spend and they go opps I spent to much and sell it for 50% of what they invested. People just need to plan better and think with their brain instead of impulse and they will be fine and get what the want at a later time. And believe you me when you wait and buy when you know very well you can afford it, you won’t have to sell it.
Just me $0.02.
Andrew.
iono about a fad, but outside this community people seem to respect them,
i put my car in a show on sunday with my new engine and had a ton of people taking pictures of it and asking me all kinds of questions…
no one seemed to mind that my car wasnt washed, or that i have a little rust in the engine bay and scratches and dents in the paint. and i dont really care either…
i can say right now that i am not happy with how fast it it.
chris beat me with his ghetto $1000 KA-T build… so the speed competition has begun.
with me, i want a different car because i want to get into rallying (which i had started with the 240), i’m quite content to keep the car but i’d prefer to get something that i can move in that direction. I’ve been debating a long time wether or not to sell it because i love driving it, so i’ll see what happens with the selling.
i can beat sunfires np, … dont really get that comment.
and everyone sells something initially for more than what they expect the final price to be, just like people always offer less than what they are willing to pay.
id like to know how buying a house is a bad investment.
if you are properly planning to buy a house then the overall investment profit is huge
GT
Nik, I think Pavel is saying your car is slow.
Also I see a house as being a good investment.
Houses generally from my experience appreciate while cars almost always depreciate.
i have yet to draft up the forumula’s using annuities and such, but i can in fact prove that buying a home is a horrible investment.
now the examples i used ina previous example with my best friend was a home in brantford for $180,000
at a 25 year mortgage, at X% the final price tag is approximately $330,000 or thereabouts.
now this means that in order for your home to actually have a postive present value you need your home after 25 years to have appreciated to beyond $330,000 + the expenses you have incurred to maintain the home.
in short you home MUST increase in value by at least 100% over teh course of your mortgage in order for you to have made a good investment.
now you are probably thinking that you need to live and so you would incur many of those expenses anyways. this is true.
BUT.
again this is without calculations, but simply with examples form friends and myself.
i lived in a home that cost $250,000 with a monthly mortgage of $1400 CAD.
add in property taxes, maintanence, insruance, hydro, cable, heat, etc etc. etc. and you have an estmated living cost of in the vacinity of $1800+ per month simply to own your home + the indirect costs.
now.
in this same city you can RENT a nice condo with all utilities included minus phone for approximately $800.
please note: these are relative prices, in niagara the prices would be about $1600 for home and $650 for rent
in toronto it might be $2400 for home and $1300 for rent
either way, you tell me what will accumulate to the better investment, in this example a $250,000 home.
OR
a $1800 - $800 = $1000 monthly positive cash flow.
this generates an annuity of $12,000 per year plus your monthly interest multiplied by your equivalent mortage duration of 25 years.
deposited into a modest interest bearing account at say 5% per annum.
without even taking interest into account for the deposits, and not taking inflation and crap into account for the home,
$12,000 x 25 = $300,000 + interest over 25 years
OR
a home that cost $250,000 that you mortaged at prime for over 25 years that will cost you approxiamtely $425,000 over the mortgage.
there really is no comparison.
but the banks and the government obviously make more money if you buy a home, and it is safe in that you always have an asset. mind you teh safety is not yours, it is the banks.
what you end up paying for when you buy a home is simply the fact that you can say that you ‘own’ a home. is this worth $1000 a month to say?
hell ass no
the only way that buying a home is even worth thinking about is if you divide it up and rent out part of the home to students, or another family and have others pay off your mortage for you…
if you are not generating cash flow from you home you have effectively wasted your entire life… and i am not exaggerating.
you have effectively created 100% dependence on your job so that you can pay the bank for your home that you live in and must maintain.
you therefore work for the bank and have eliminated most of the control you have over you time and money.
buying a home is a trap. the only people that will tell you it is a good idea are the people who are profiting of it, or are completely oblivious to their alternative options.
yes it is true that cars depreciate and that homes do appreciate, but that is a very short sighted way to make an investment decision.
if you buy a car on a lease or take out a loan you will in fact loose much more money as a percentage than you will buying a home on a mortgage, that is for sure.
but you really cant compare buying home to buying a car.
what you need to compare buying a home to is buying properties that generate a cashflow.
you know what… i cant really discuss this thoroughly on the forum here. next time we have a meet i can go over it with you and try and discourage you from buying a home to live in.
the problem is that most people are comparing buying a home to owning a cool car here… of course the home will come out on top.
but a car is not an investment, and so it does not need toand liekly never will be profitable.
calling a home an investment is implying that you will end up in a better position financially because you are buying the home. this is in fact entirely false.
if my example above is not clear i apologize, i am more effective verbally that typing.
Man I can agree to some points but it can be a good investment.
Maby these people want to sell there cars so theyt can put a larger down payment. Which inturn means that you can have a much shorter time frame of intrust or a small about that you are getting chagerd on. Also if you do your reasurch before you guy a house can can also find good deals and are bound to make you profit.
Hell my mother get a house 2 and a half years ago and the value of it has already raised over $100000. It is all about being smart and using your head before you make a purchase.
Also I think they rent figures you used are a little low.
A house that is worth $250000 can not be compaired to a place that you rent for $800 a month. assk anyone who is or is trying to rent a house.
1st of all, property taxes, hydro, telephone, cable etc. should not be included in the costs of a house as they are variable costs. That is like saying that you buy a car at 25,000, plus insurance, plus gas, plus repairs add that up for 5 years, you paid like 40,000 for it and have to sell it for 5,000 again only an example.
2nd. Mortgage rates vary and are also dependant on the amount of the downpayment. With a 5% downpayment on a house you would also need to get mortgage insurance which is a one time cost but also adds to the total cost of the mortgage. Other things to consider are whether it is an open or closed mortgage along with the length of the mortgage. There are many factors to consider which I can go into more depth about later but the point is that land appreciates while cars depreciate. Based on that, a house is a much more reasonable investment.
Edit: Damn you Benson posting before me!
let me quote Robert Kiyosaki, a self made milionaire who has made millions more by sharing his investment advice in text and audio books.
“if your home is your biggest investment, you are in big trouble!”
hahahaha 
I am at work and bored.
OOO is he one of those guys that comes on tv at 2 in the morning yelling and screaming at you to " do what I did, be your own boss and live the life you have always wanted."
I would say it really depends on the situation. If you are only putting 5% down in a part of town where there are no plans for further development or anything like that then ya. you are screwed. But if you do things right and take you time you can find a worth while investment.
that is what my mom has done twice now and we are thinking of moving again so she can make more money and look at another investment.
As with any investments, you need to build capital to invest before you start worrying about what will be your biggest investment.
If you want to start using real life examples, then look at Donald Trump, where did he make his money … and he is a Billionaire.
donald trump didnt take out a mortgage to buy a home.
a home is not an investment property.
when you make an investment decision you MUST take into account variable and in-direct costs.
that is actually a key problem, calling a home an investment but ignoring all these costs because they are so-called indirect costs.
the point is that they would not be incurred under other circumstances, or that they are incurred because of this investment decision.
benson, those rent figures i stated were relative, my buddy just got married and is living in an apartment for $550 a month INCLUDING utilities.
he was talking about buying a home and i explained to him how he would effectively be spending another $1000 per month to own that home.
the point is that on average it WILL cost $1000 per month MORE to live when you buy a home versus renting an all inclusive apratment or condo.
now you cant consider which is nicer, and which will appreciate… all that shit is for stupid women to consider…
INVESTMENT DECISIONS ONLY CARE ABOUT $$$$$$$$$$$$$$$$
and all $$$$ must be included.