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Discussion Starter #1
I used to have exotic cars. Now all I can afford is a Honda Insight.
Wonder what happened along the way?
Gerald



 

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I assume you are having a good joke, but the auto news reports that the prices of collectable cars has been falling badly. Perhaps the Insight reductions aren't entirely based of gas prices. In fact, most asset plays are down, except houses of course. If we are simply a part of a larger negative trend in asset prices, then the first hint of returning inflation will cause prices to turn upward.
 

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Discussion Starter #3 (Edited)
Some truth to the above. 2 women taking half leaves me a quarter so I should have been exclusive to cars, more rewarding financially but just not as much fun. But collectible cars going down? I watch a lot of car auctions on tv and collectible Ferrari's are out of sight. Familiar with the 1967-69 Corvette L88? Now over $1,000,000. Even freaking Mustangs going for 6 figures. I was under the impression collectible cars are still climbing nicely.
Gerald
 

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As a single guy Ive heard the same too. Renting her isnt too bad, but you got some really strange ones out there. Ive heard the saying why buy the cow when you can get the milk for free, but I havent come across that yet.

I dont know how you guys do it. Even if you get the car for free you got the title fee, registration, plates, yearly inspection and insurance. I guess you could skip title by not putting it in your name til you figure out what to do, but what keeps the guy from getting a copy of the title and taking out a loan putting a lean against the car you thought you purchased in the clear?

Ive left behind quite a few old honda single cylinder motorcycles, mopeds, tools and small engine powered equipment where my father use to live. I didnt have the means to take them or a place to put them. Think the new owner of the property just plowed all that crap back in the wood. My father was rather fond of the motobecane moped I had.

I did however grabs his swinn bikes and use a cargo strap to strap them to the rear of my insight. :)
 

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In all seriousness you should seek a professional. Then ask questions like whats the fees, cost, return and is it FDIC insured. If its not insured you can be SOL.

When I use to work for a bank we had a non FDIC insured money manager account. You can go to bed with 4 grand in it, next morning owe the bank money as its over drawn. Some cases stuff that isnt insured is spelled BANC vs BANK. Again ask why.

If you dont understand, look online and do the safer option. For example our 401ks were with a company that you see advertised a lot. Most of my coworkers lost money. A few used the stable savings account. The options to invest in were all loosers. I called and spoke to someone. He said they are corporate investments with a million dollar buy in. Still he couldnt answer why they are all loosing and why I should change my investment from the savings.

In the savings I had no fees, .0001% interest plus the corporate 5% match to my contributions up to 5% of pay. So, even if I earned little to no interest, my contribution money would double and I had no fees.

There really isnt no get rich quick scheme. Your better bet to investing is to look at what you owe and pay that down first as the interest you pay on that is going to be several times what your return could be on an investment.
 

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In addition to making money you can also consider staying neutral or loosing less money. For example take the old dodge wagoneer van I had. I spent x to get it, then x to fix it up. Now I have to pay registration, inspection, insurance to not drive it, but just in case. It would take x amount of gas to move it and then I need a spot to park it. I decided to stop the bleeding and just sold it. I decided it would be cheaper to rent a van if one was needed in the future.
 
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