over , bad deal is badTarspin wrote: ↑Sun Jul 08, 2018 2:36 pmBought it for 18.5kUSD
Wheels and tars were 3.5k
Diff replacement was 2k
Tax/misc was 2.5k
so all in cost was 26.5k
Sold it for 19kUSD
So all in costs minus fuel and insurance were 2.5k/yr including "mods".
There was another guy on the line that was willing to pay full asking price, so another 1k roughly.
It will help me reach the 20% down on the cottage so that saves me $10k in CMHC mortgage insurance. It's a win.
C6 Vert Manuel. Car for Motorcycle Lovers Who Also Value Skin
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brain go brrrrrr
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Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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didn't realize you owed money on the car.
I suppose that makes sense, but overall...be careful stretching yourself so thin. You know your own finances better than some rando :moran: on the interwebz, but if selling a car makes the difference between "affording" and not, take pause. Just looking out for a DFD bro.
Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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It makes a difference to me to get 20% down. That is a lot of outlay. I could've put the usual 5% like most others but i save a 10k loan insurance charge this way. I could've taken it out of my Corp but the tax implications would be getting up there too.Detroit wrote: ↑Mon Jul 09, 2018 8:51 amdidn't realize you owed money on the car.
I suppose that makes sense, but overall...be careful stretching yourself so thin. You know your own finances better than some rando :moran: on the interwebz, but if selling a car makes the difference between "affording" and not, take pause. Just looking out for a DFD bro.
Factor that in with possible repairs and depreciation and the starts to make sense. I can still pull money if shit hits the fan. Just trying to avoid it.
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For an income property, I could see it maybe. If you're going to make back the PMI in rent, that leaves you with more capital to invest in other properties.
Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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Dat. In the land of $620k condos, 5% is common. The mortgage insurance hit is significant for us so it's worth avoiding.[user not found] wrote: ↑Mon Jul 09, 2018 3:36 pmI mean, I put 7% down.
It was either that, or keep pissing money away on rent.
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Also, in the time of infinite appreciation you're better off to get the biggest loan you possibly can. What's another percent or two in interest when you're going up 20+% a year?Tarspin wrote:Dat. In the land of $620k condos, 5% is common. The mortgage insurance hit is significant for us so it's worth avoiding.[user not found] wrote: ↑Mon Jul 09, 2018 3:36 pm I mean, I put 7% down.
It was either that, or keep pissing money away on rent.
Not everyone's a Maximillionaire.
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Self-made real estate millionaires swear by that theory.troyguitar wrote: ↑Mon Jul 09, 2018 3:46 pmAlso, in the time of infinite appreciation you're better off to get the biggest loan you possibly can. What's another percent or two in interest when you're going up 20+% a year?Tarspin wrote:
Dat. In the land of $620k condos, 5% is common. The mortgage insurance hit is significant for us so it's worth avoiding.
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It depends on the situation, but PMI is garbage.[user not found] wrote: ↑Mon Jul 09, 2018 3:36 pmI mean, I put 7% down.
It was either that, or keep pissing money away on rent.
Not everyone's a Maximillionaire.
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get rich off other peoples money with this one weird trick.troyguitar wrote: ↑Mon Jul 09, 2018 3:46 pmAlso, in the time of infinite appreciation you're better off to get the biggest loan you possibly can. What's another percent or two in interest when you're going up 20+% a year?Tarspin wrote:
Dat. In the land of $620k condos, 5% is common. The mortgage insurance hit is significant for us so it's worth avoiding.
brain go brrrrrr
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Today is probably my last day to foe a few years. I'm getting it safety checked, e-tested and picked up by the buyer. I will honestly miss it a lot. I think i might orange C7 coupé manuel next. That or I wear out the and get an orange JLU and stick to the single car life.
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Tarspin wrote: ↑Wed Jul 11, 2018 7:48 am Today is probably my last day to foe a few years. I'm getting it safety checked, e-tested and picked up by the buyer. I will honestly miss it a lot. I think i might orange C7 coupé manuel next. That or I wear out the and get an orange JLU and stick to the single car life.
Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
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Saw one of these this past weekend. 5/7 wouldTarspin wrote: ↑Wed Jul 11, 2018 7:48 am Today is probably my last day to foe a few years. I'm getting it safety checked, e-tested and picked up by the buyer. I will honestly miss it a lot. I think i might orange C7 coupé manuel next. That or I wear out the and get an orange JLU and stick to the single car life.
I mean, duh... but [user not found] is right, most Americans aren't rich like you.max225 wrote: ↑Mon Jul 09, 2018 4:33 pmIt depends on the situation, but PMI is garbage.[user not found] wrote: ↑Mon Jul 09, 2018 3:36 pm
I mean, I put 7% down.
It was either that, or keep pissing money away on rent.
Not everyone's a Maximillionaire.
My gf has PMI on her townhouse. She absolutely bought something she couldn't really afford despite it being cheap, $120k, she was a teacher making $40k at the time. Her dad helped her our with closing costs (a few thousand bucks) and she put minimal down. She has always had to have a roommate to swing the expenses and maintain any kind of life (now I'm the roommate and split monthly costs with her which is still cheap AF for me compared to anything else). Does it suck that we pay PMI because of her choice? I mean, I guess, but we still pay about 60% per month of what it would cost to rent an equivalent place AND she now has $50k of equitty after four years, so when we decide to move on, we can bring a much larger down payment to the table and get a much better house.
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Sounds like you should refi.D Griff wrote: ↑Wed Jul 11, 2018 10:07 amI mean, duh... but [user not found] is right, most Americans aren't rich like you.
My gf has PMI on her townhouse. She absolutely bought something she couldn't really afford despite it being cheap, $120k, she was a teacher making $40k at the time. Her dad helped her our with closing costs (a few thousand bucks) and she put minimal down. She has always had to have a roommate to swing the expenses and maintain any kind of life (now I'm the roommate and split monthly costs with her which is still cheap AF for me compared to anything else). Does it suck that we pay PMI because of her choice? I mean, I guess, but we still pay about 60% per month of what it would cost to rent an equivalent place AND she now has $50k of equitty after four years, so when we decide to move on, we can bring a much larger down payment to the table and get a much better house.
I am very fiscally conservative and live way below my means, most ppl live above theirs. IMO in most cases not having 20 down means you shouldn’t buy the house unless it is around what it costs to rent. Which is the case in a few areas. Banking on “appreciation” is how we went into the financial crisis but yea I’m :thanksbush:
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This is really a key to long term financial security, IMO.max225 wrote: ↑Wed Jul 11, 2018 10:22 amSounds like you should refi.D Griff wrote: ↑Wed Jul 11, 2018 10:07 am
I mean, duh... but [user not found] is right, most Americans aren't rich like you.
My gf has PMI on her townhouse. She absolutely bought something she couldn't really afford despite it being cheap, $120k, she was a teacher making $40k at the time. Her dad helped her our with closing costs (a few thousand bucks) and she put minimal down. She has always had to have a roommate to swing the expenses and maintain any kind of life (now I'm the roommate and split monthly costs with her which is still cheap AF for me compared to anything else). Does it suck that we pay PMI because of her choice? I mean, I guess, but we still pay about 60% per month of what it would cost to rent an equivalent place AND she now has $50k of equitty after four years, so when we decide to move on, we can bring a much larger down payment to the table and get a much better house.
I am very fiscally conservative and live way below my means, most ppl live above theirs. IMO in most cases not having 20 down means you shouldn’t buy the house unless it is around what it costs to rent. Which is the case in a few areas. Banking on “appreciation” is how we went into the financial crisis but yea I’m :thanksbush:
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The daily is pretty fun. I will miss the "moran" pedal ( !!)/ , and the open roof, and burbles, but besides that I am not stuck with a Hyundai Elantra for the next couple of years.
Selling also drops my overhead a thousand a year for insurance, and about the same in upkeep. Nicole will start work at 9am instead of 8 and that reduces before and after school program by another 2k/yr. We need to make moves like that.