Having your own place or having a nice car?

[apusislaya]

First of all let me tell you all that I'm 27 and a virgin. I'm good with making money, but not the women.


You see, a car is a depreciating value. An apartment is an appreciating value.


Let's say you invest $50,000 in a car. You're getting a nice vette. In 5 years, your car will be worth significantly less. If you don't have a garage, you will get dings, and dents, and paint will become bad on the sun. It will worth much MUCH less..

Let's say you invest $200,000 in a house. In 5 years it will worth perhaps $300,000, conservatively speaking.


Thus you are advancing your progress with one, and retarding with the other one.


A bike is a nice thing. I'd get a good racing bike for $4k.





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though what if you can only afford to rent, not buy



In that case, I'd stay with parents longer, instead of throwing my money onto an apartment. I'd get a bike for $4k, or a nice car for $5k.



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there is also a 3rd option


Invest!

A lot of financial experts are talking about economic collapse, possibly as early as new years. Buying gold and silver right now is good, because it's at all times low prices.

 

[orly]

My two cents:

- More people will see (and thus notice) your car than the place you live.

- Assuming you're still fairly young, if you're renting, unless it's some fabulous place, you're just on par with most of the population, financially. The main benefit you have is "independence" versus living with your parents, and different people place different value on "independence".

- Again assuming you're still fairly young, if you buy your own place, you're probably ahead of most of the population financially.

- Like "independence", a car has different value for different people. For some it's absolutely nothing more than a tool to go from Point A to Point B. Other people actually love driving. Plus, renting to gain "independence" is arguably far, far, far, more of a "depreciating asset" than a car will ever be.

- While financial well-being is important, life shouldn't be lived as a balance sheet.

Like the poster above, I'm 27 and a virgin, and have never even had a girlfriend. On the plus side by living like a monk (both out of circumstance as well as desire) I'm doing financially well and recently bought a condo. I have some money left over that I didn't use in the downpayment and am considering buying a "hot" sports car. I love driving and cars are a passion of mine, but I'm not ashamed to admit I'm hoping it can attract girls too.

On the opposite end of the spectrum I have friends who have no problems with girls whatsoever. They are either in LTRs or have no problem going from girlfriend to girlfriend. On the other hand they are perpetually broke from drinking, clubbing, taking fabulous vacations with their girlfriends, and what-not.

I'm sure there is a happy medium.

 

[Maxtro]

It really depends on your age. I'd say from 18 to 23ish, having a car is best. Nobody really expects you to have your own place. Having a car gives you so much freedom. I really suggest that people get a cheap car and pay it off when they are still living with their parents.

But once you're 25 people do expect you to be on your own. To show that you are going somewhere in life and you are a mature adult.

Since you are 24 I highly suggest getting your "own" place. I live with roommates, but it's still much better than living with family since I can basically do what ever I want. Their is so much more freedom taking care of yourself than living with family.

If you really need your own transportation get a moped or a used motorcycle for $1000. It's cheaper in every way then owning a car. I just took the MSF beginner rider course and I'm considering buying a bike.

 

[YoungSir4sho]

Yea, i mean i get this ? from alot of girls. wHo do i live wit. I think thats one of the most played ?'s from a girl when u start talkin to her. 1st if i got a job then who i live wit lol. I tell them yea i got a good job but i dont have my place then i hear their energy drop down sometimes lol.


I do want a car tho for personal reasons to get me to work n to blast my music loud n i love driving. ON the other hand i need my own place n realize this is the year to grow up since im 24.....