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capebretoner
Joined: 02 Aug 2006
Posts: 82
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 Posted: Thu Sep 13, 2007 12:11 pm Post subject: Investing in a car |
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Since I consider anything that I buy over $500 an investment that is why I worded the topic this way.
My issue is that I don't really need a car. I live in the downtown area within walking or biking distance to everything.
However I want a car, but from every angle that I look at it is a pure expense.
Has anyone here bought a car without needing it? And if so how did you justify it? |
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altyfc
Joined: 29 Dec 2004
Posts: 1232
Location: Aardvarkland
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| Posted: Thu Sep 13, 2007 1:18 pm Post subject: |
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I suppose nobody needs a car. We managed fine before they came along.
It really depends on how useful one is to you, and what your circumstances are. Sure, they can be expensive, but they can also be very convenient and save you time...
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capebretoner
Joined: 02 Aug 2006
Posts: 82
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| Posted: Tue Oct 23, 2007 1:44 am Post subject: |
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| altyfc wrote: |
I suppose nobody needs a car. We managed fine before they came along.
It really depends on how useful one is to you, and what your circumstances are. Sure, they can be expensive, but they can also be very convenient and save you time... |
That is really where my delimma is. I live close to everything so it really wouldn't same me any time on day-day things. But it is the weekends in the summer that I really want it. The good camping and beaches are more than a bike ride away, and I am great hiker
In some other major centres they have car co-op's but here there is not the population base needed for one (I looked into it)
So does anyone have an idea where I can figure this out to be an "investment" rather than a "luxury expense"
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Money-Helper
Joined: 02 Aug 2007
Posts: 76
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| Posted: Thu Oct 25, 2007 2:34 am Post subject: |
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A vehicle is never an investment unless it is antique, vintage or has celebrity attached to it.
Vehicles are expensive, period. If you can live with public transit then you would be better off banking the cost of a vehicle toward something with a return so that later you can afford a vehicle without feeling the pinch of ownership. |
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LennyP
Joined: 27 Jul 2007
Posts: 6
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| Posted: Fri Oct 26, 2007 7:23 am Post subject: |
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| If you are doing fine without a car then you are better off without one. With a few very expensive exceptions, a car is never a good investment. A $500 car will never appreciate. Plus it is going to cost you money in maintenance, registration, and insurance. It would be much cheaper just to rent one the few times you need one if you don't use one in your daily life. |
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capebretoner
Joined: 02 Aug 2006
Posts: 82
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| Posted: Mon Oct 29, 2007 11:05 pm Post subject: |
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Man, you guys are not helping me with my problem 
I want the car grrr....
Oh well I guess I will just have to suck it up and continue on the bike 
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altyfc
Joined: 29 Dec 2004
Posts: 1232
Location: Aardvarkland
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Stroh
Joined: 21 Oct 2007
Posts: 11
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| Posted: Thu Nov 01, 2007 9:05 pm Post subject: |
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| a car is very expensive to upkeep and mantain especially with gas prices. If you can get by without one, you're lucky. You will have to get insurance, registration, fees etc on it. |
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iFinancialAdviser
Site Admin
Joined: 28 Dec 2004
Posts: 1699
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| Posted: Fri Nov 02, 2007 3:53 am Post subject: |
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| capebretoner wrote: |
Man, you guys are not helping me with my problem
I want the car grrr....
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Gathering from suggestions made here, I guess it’s pretty clear that, if you buy a car, then it’s just a luxury (in your case). Understanding that, if you still want to go ahead and buy one, then that’s fine, I guess.
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bbwalker
Joined: 19 Feb 2008
Posts: 11
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| Posted: Tue Feb 19, 2008 2:12 am Post subject: |
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| capebretoner wrote: |
| [So does anyone have an idea where I can figure this out to be an "investment" rather than a "luxury expense" |
But a cheap car that is not going to depreciate as fast as a newer car will and then you will benefit from a higher return on investment. Years from now you can look back and say "wow, that was a good investment"
Instead of saying "Geeeezzzzz I paid XXXX and this pile of rust isn't worth dirt" |
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