Go Back   EcoModder Forum > Off-Topic > The Lounge
Register Now
 Register Now
 


Reply  Post New Thread
 
Submit Tools LinkBack Thread Tools
Old 04-19-2014, 01:33 PM   #11 (permalink)
Master EcoModder
 
Join Date: Jun 2008
Location: Earth
Posts: 5,209
Thanks: 225
Thanked 811 Times in 594 Posts
Quote:
Originally Posted by redpoint5 View Post
If I had taken the initial offer on the car, I would have lost $7,000.
Nope, you would have lost $24K. Instead, you only lost $17K.

Quote:
My definition of poor is being up to your eyeballs in debt, but not owning any appreciating assets.
That's one definition. Another is just not having any money, period. And spending lots of money on a newish car, whether it's $24K or $17K, means you're either getting deeper in debt, or foregoing an opportunity to purchase some appreciating assets.

Quote:
Buying a new car is among the poor investment decisions.
Buying a car is NOT an investment.

  Reply With Quote
The Following User Says Thank You to jamesqf For This Useful Post:
Cobb (04-19-2014)
Alt Today
Popular topics

Other popular topics in this forum...

   
Old 04-19-2014, 02:50 PM   #12 (permalink)
Hydrogen > EV
 
Join Date: Apr 2012
Location: NW Ohio, United States
Posts: 2,022

Silver Flea - '05 Honda Insight
90 day: 58.96 mpg (US)
Thanks: 992
Thanked 396 Times in 283 Posts
Quote:
Originally Posted by jamesqf View Post
Buying a car is NOT an investment.
A car is definitely an investment. Putting money into anything tangible is an investment. Getting something out of it does not need to mean financial gain- investing in a car expands ones range of opportunity, and changes their value of time.

If one lived 10 miles from their job, their time has a different value if they can drive that ten miles, or have to walk (I have heard of a bike, but if you want to try and bike 10 miles in Northern Ohio during winter, you need a straight jacket first).

A $300 vehicle that runs is an investment for a person who has close to nothing, and wants to expand the range of jobs they can get to. Or, move further from their job to get more affordable housing.

Saying he only lost 17k instead of 24k is a bit...well, absurd. The car is not completely valueless. Even if completely totaled or stolen, I'm sure Redpoint has insurance, let alone the value of the car as a fun car, and any utility he gets from it. To say buying a car is the same as burning money, a total loss, is not accurate.
__________________





Best Tanks:
Mustang - 54.83 mpg (US) at the Green Grand Prix
Insight - 82.91966 mpg (US) over 818.5 miles.
  Reply With Quote
The Following User Says Thank You to UltArc For This Useful Post:
Frank Lee (04-19-2014)
Old 04-19-2014, 03:40 PM   #13 (permalink)
Master EcoModder
 
nemo's Avatar
 
Join Date: Nov 2010
Location: US
Posts: 1,015

Chief - '06 Pontiac Grand Prix
90 day: 26.7 mpg (US)

SF1 - '12 Ford Fiesta S
90 day: 30.95 mpg (US)
Thanks: 195
Thanked 247 Times in 190 Posts
Quote:
Originally Posted by jamesqf View Post
Buying a car is NOT an investment.
Not most anyway and none I've owned.

Quote:
Originally Posted by UltArc View Post
A car is definitely an investment. Putting money into anything tangible is an investment. Getting something out of it does not need to mean financial gain- investing in a car expands ones range of opportunity, and changes their value of time.
Better description would be a tool.
  Reply With Quote
Old 04-19-2014, 04:38 PM   #14 (permalink)
Hydrogen > EV
 
Join Date: Apr 2012
Location: NW Ohio, United States
Posts: 2,022

Silver Flea - '05 Honda Insight
90 day: 58.96 mpg (US)
Thanks: 992
Thanked 396 Times in 283 Posts
Agreed. When my house or car has an issue, I use a tool that I invested in to fix it.

I had to build a cabinet I bought, I used a tool I invested in to drive it home instead of carrying it for miles, and I used a tool I invested in to build it
__________________





Best Tanks:
Mustang - 54.83 mpg (US) at the Green Grand Prix
Insight - 82.91966 mpg (US) over 818.5 miles.
  Reply With Quote
The Following User Says Thank You to UltArc For This Useful Post:
ecoTex (04-19-2014)
Old 04-19-2014, 04:56 PM   #15 (permalink)
(:
 
Frank Lee's Avatar
 
Join Date: Jan 2008
Location: up north
Posts: 12,762

Blue - '93 Ford Tempo
Last 3: 27.29 mpg (US)

F150 - '94 Ford F150 XLT 4x4
90 day: 18.5 mpg (US)

Sport Coupe - '92 Ford Tempo GL
Last 3: 69.62 mpg (US)

ShWing! - '82 honda gold wing Interstate
90 day: 33.65 mpg (US)

Moon Unit - '98 Mercury Sable LX Wagon
90 day: 21.24 mpg (US)
Thanks: 1,585
Thanked 3,555 Times in 2,218 Posts
Anyway, I read several other synopses from that author and I thought she was spot-on.
__________________


  Reply With Quote
Old 04-19-2014, 08:37 PM   #16 (permalink)
Master EcoModder
 
Join Date: May 2012
Location: USA
Posts: 2,643
Thanks: 1,502
Thanked 279 Times in 229 Posts
Yeah, I think most missed the point. Still I think it was a shameless plug to sell a book.

Quote:
Originally Posted by Frank Lee View Post
Anyway, I read several other synopses from that author and I thought she was spot-on.
  Reply With Quote
Old 04-19-2014, 09:42 PM   #17 (permalink)
Human Environmentalist
 
redpoint5's Avatar
 
Join Date: Aug 2010
Location: Oregon
Posts: 12,396

Acura TSX - '06 Acura TSX
90 day: 24.19 mpg (US)

Lafawnda - '01 Honda CBR600 F4i
90 day: 47.32 mpg (US)

Big Yeller - '98 Dodge Ram 2500 base
90 day: 21.82 mpg (US)

Prius Plug-in - '12 Toyota Prius Plug-in
90 day: 57.64 mpg (US)

Mazda CX-5 - '17 Mazda CX-5 Touring
90 day: 26.68 mpg (US)

Chevy ZR-2 - '03 Chevrolet S10 ZR2
90 day: 17.14 mpg (US)
Thanks: 4,192
Thanked 4,380 Times in 3,354 Posts
Quote:
Originally Posted by jamesqf View Post
...spending lots of money on a newish car, whether it's $24K or $17K, means you're either getting deeper in debt, or foregoing an opportunity to purchase some appreciating assets.
Agreed. Opportunity cost is at play here.

The Prius, Corolla, Golf TDI, and Outback were also on my list of used vehicles I was considering purchasing. I choose the TSX because my grandpa generously donated $6k if I choose the TSX. He just wanted to see me drive a nice car.

Quote:
Originally Posted by nemo View Post
Better description would be a tool.
I primarily view my car as a tool, but I also have a good deal of fun driving a sporty 210hp car. I'd probably get serious about buying a used Lotus Elise if I didn't already own a sport bike.
__________________
Gas and Electric Vehicle Cost of Ownership Calculator







Give me absolute safety, or give me death!
  Reply With Quote
Old 04-19-2014, 11:23 PM   #18 (permalink)
Master EcoModder
 
Join Date: Jun 2008
Location: Earth
Posts: 5,209
Thanks: 225
Thanked 811 Times in 594 Posts
Quote:
Originally Posted by UltArc View Post
A car is definitely an investment. Putting money into anything tangible is an investment.
No, it's only an investment if you can reasonably expect to sell it for more than you paid. That's just not true of cars, other than a few collector ones. Just for example, if I'd bought a $17K car 5 years ago, today I'd have a car that I might be able to sell for $8500. If instead I'd bought a $3K car (which in fact I did - well, a pickup) and invested the $14K in my mutual fund accounts, I'd have about $32K and a vehicle I could sell for about $3K.
  Reply With Quote
Old 04-19-2014, 11:28 PM   #19 (permalink)
(:
 
Frank Lee's Avatar
 
Join Date: Jan 2008
Location: up north
Posts: 12,762

Blue - '93 Ford Tempo
Last 3: 27.29 mpg (US)

F150 - '94 Ford F150 XLT 4x4
90 day: 18.5 mpg (US)

Sport Coupe - '92 Ford Tempo GL
Last 3: 69.62 mpg (US)

ShWing! - '82 honda gold wing Interstate
90 day: 33.65 mpg (US)

Moon Unit - '98 Mercury Sable LX Wagon
90 day: 21.24 mpg (US)
Thanks: 1,585
Thanked 3,555 Times in 2,218 Posts
No, I expected to get back the money I INVESTED in the stock market, plus more, but that didn't happen. I invest in food but that gets turned into poop right away. Many investments are investments even though you don't get "more" back.
__________________


  Reply With Quote
The Following User Says Thank You to Frank Lee For This Useful Post:
UltArc (04-19-2014)
Old 04-20-2014, 02:33 AM   #20 (permalink)
Human Environmentalist
 
redpoint5's Avatar
 
Join Date: Aug 2010
Location: Oregon
Posts: 12,396

Acura TSX - '06 Acura TSX
90 day: 24.19 mpg (US)

Lafawnda - '01 Honda CBR600 F4i
90 day: 47.32 mpg (US)

Big Yeller - '98 Dodge Ram 2500 base
90 day: 21.82 mpg (US)

Prius Plug-in - '12 Toyota Prius Plug-in
90 day: 57.64 mpg (US)

Mazda CX-5 - '17 Mazda CX-5 Touring
90 day: 26.68 mpg (US)

Chevy ZR-2 - '03 Chevrolet S10 ZR2
90 day: 17.14 mpg (US)
Thanks: 4,192
Thanked 4,380 Times in 3,354 Posts
Quote:
Originally Posted by Frank Lee View Post
I invest in food but that gets turned into poop right away.
This is the reason I generally try to buy high calorie per dollar food. I'd like to minimize the amount of money I turn into poop.

__________________
Gas and Electric Vehicle Cost of Ownership Calculator







Give me absolute safety, or give me death!
  Reply With Quote
Reply  Post New Thread


Thread Tools




Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
Content Relevant URLs by vBSEO 3.5.2
All content copyright EcoModder.com