I had a serious car accident today, and now what with my BRZ?

[Grady]

Originally Posted by Tcoat

The house you live in is an investment as it is expected to rise in value. Unfortunately this doesn’t always work out so it is a bad investment but an investment all the same.

I am sorry but the house you live in has no possible way to be cash flow positive. It will cost you money every month you are there. Yes the value of the house will rise. But guess what when you sell it and get some of your money back you will have to spend it again to buy another house to live in. So once again the house you live in is a living expense.

[Grady]

Originally Posted by Will BRZ

I never understood why people think cars are investments. I think mostly non car enthusiasts have this mentality. I love driving my car and not once does it cross my mind that it's depreciating in value with every mile. It's cool if it's like your weekend car or whatever, but to deliberately not drive it out of fear of not making a profit is kinda dumb.

Houses can be investments. People literally make a living out of "flipping houses" lol but cars are definitely costs. I'd rather have fun and drive the shit out of it and make great memories with it rather than get an extra grand when trade in time comes.

I never said a car can not be an investment.
Go to Barrett Auto Auctions. You can find investment cars there.

I never sad a house can not be an investment.
Buying a house to fix up and sell or rent is an investment. Buying a house to live in is not.

[Tcoat]

Originally Posted by Grady

I am sorry but the house you live in has no possible way to be cash flow positive. It will cost you money every month you are there. Yes the value of the house will rise. But guess what when you sell it and get some of your money back you will have to spend it again to buy another house to live in. So once again the house you live in is a living expense.

Ah I see what you mean. Yep I have to agree when thought through that angle it would not be an investment.

[FR-Sky]

That sucks dude, but thank god everyone here is helpful.
Honestly, I would even pay 2 ways insurance on a 15 years old car just in case...

Good luck man.

[Stephen W.]

Originally Posted by Will BRZ

I never understood why people think cars are investments. I think mostly non car enthusiasts have this mentality...

Investment cars ARE investments! Hence, the name. Daily drivers and most weekend toys are as you say, an expense.

Originally Posted by Will BRZ

Houses can be investments. People literally make a living out of "flipping houses"...

A house should be an investment. If you do it right each one will net you (or your next of kin) a tidy sum.

Originally Posted by Will BRZ

...lol but cars are definitely costs. I'd rather have fun and drive the shit out of it and make great memories with it rather than get an extra grand when trade in time comes.

I agree and that's why my 2006 STi isn't worth the stupid money most people think theirs is worth.

[ayau]

When your car is worth about 5k or less, it may not even make sense to buy full coverage. The car is already a shitbox, so any fender bender won’t even matter. Would you rather fix a 5k car or collect an insurance check from the other party? Assuming they’re the ones liable.

If you’re liable and you damaged your own car, say hello to insurance premium increase. Insurance companies are there to make a profit, when youre a high liability, then you’re going to pay for it.

[Dadhawk]

Originally Posted by Grady

Yes the value of the house will rise. But guess what when you sell it and get some of your money back you will have to spend it again to buy another house to live in. So once again the house you live in is a living expense.

Not sure I agree that because you "have to" buy a new house if you sell there is no cash flow. It is very possible to buy a house for less than the one you sell, creating a positive net result to the transaction.

I do agree though that most personal homes, when you account for inflation, don't really make money except in a few markets. Most likely the price increase is tracking inflation.

You could also consider a paid for house as creating cash flow to some extent. My home has been paid for 5 years, so since I don't pay rent or a mortgage my monthly living expenses is significantly decreased, increasing positive cash flow in an indirect manner.

[p1l0t]

Originally Posted by Dadhawk

Not sure I agree that because you "have to" buy a new house if you sell there is no cash flow. It is very possible to buy a house for less than the one you sell, creating a positive net result to the transaction.



I do agree though that most personal homes, when you account for inflation, don't really make money except in a few markets. Most likely the price increase is tracking inflation.



You could also consider a paid for house as creating cash flow to some extent. My home has been paid for 5 years, so since I don't pay rent or a mortgage my monthly living expenses is significantly decreased, increasing positive cash flow in an indirect manner.

Yeah real estate is a good hedge against inflation and not much more or less. (You do need to live somewhere though and right now it's cheaper to buy than to rent if you have the credit to do so). Buy a house just big enough for your needs and not a square foot bigger.

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[ThaDonJsuan]

Sorry to hear about this. Sad to see but it looks totaled. Before I go out driving in my new BRZ I always watch a few carfail vids. The perceived relief of not being in this exact situation is why I drive like a granny on the road. But when i get to the track...

[Wally86]

Originally Posted by spcmafia

You had one job bot.... One job.

Well it worked. I thought this was a new thread and started going through and liking posts... only to read the date on page two

[Tcoat]

Originally Posted by Roberterop

When I first looked at this pic, I almost gor cried. Come on man, this is the new Subaru. Considering the fact that you do not have any insurance you have only two reasonable choices: firstly, you can repair it, but it depends on the master you will adress to. I have 10 years working at the car repair service and can say that this kind of repair will cost you an arm and leg. Therefore, you can theoratically repair it but this is not worth it. And this comes to the second choice: to sell it on Car Wreckers or something. I probably recommend you the second choice because they will give you much more money than for an old broken car. For that money, you can buy the new one (by adding some money).

Big bots don’t cry.

[Sasquachulator]

Originally Posted by Tcoat

Big bots don’t cry.

They're getting smarter!

Still doesnt sound like a regular human but now they sound like infomercials!

[nextcar]

Originally Posted by Sasquachulator

They're getting smarter!

Still doesnt sound like a regular human but now they sound like infomercials!

Imagine what the future will hold when we can't tell the difference between @Tcoat and a bot...

... or scarier still @humfrz!

[Tcoat]

Originally Posted by nextcar

Imagine what the future will hold when we can't tell the difference between @Tcoat and a bot...

... or scarier still @humfrz!

If the bots learn to say “back in the day” we are screwed.