Owning a house and 1 car or renting and owning 4 cars?

[Xennial]

Question is too vague.

What are the 4 cars?

I know some guys who owns a car shop that owns 4-5 old cars that he either fixes them up as a project or specifically for the track (one guy owns an E30 and E36 for the track plus another older project car and an E90 as a daily) and they live in an apartment or a condo.

Just saying it isn't too difficult to rent while owning several old cars.

Oh yeah I know mechanics like that as well but my friend in particular I'm talking about doesn't know how to change a tire he just likes cars.  He has a Ferrari 360 Modena, audi a7, Jeep wrangler rubicon and Honda Accord

 

[stillin729]

I always feel that way when I visit NT.

pretty much

 

[freedmind2015]

 
Which would you guys choose?  

Being an adult with realistic goals. 

 

[fraij da 5 11]

Never change, NT.

 

[Xennial]

Why are some of you acting like there's something wrong with  having 4 cars?  I mean it may not be what you want but if someone can afford it and into cars why are you making it seem like its absurd or something?

 

[rfx45]

Question is too vague.


What are the 4 cars?


I know some guys who owns a car shop that owns 4-5 old cars that he either fixes them up as a project or specifically for the track (one guy owns an E30 and E36 for the track plus another older project car and an E90 as a daily) and they live in an apartment or a condo.


Just saying it isn't too difficult to rent while owning several old cars.

Oh yeah I know mechanics like that as well but my friend in particular I'm talking about doesn't know how to change a tire he just likes cars.  He has a Ferrari 360 Modena, audi a7, Jeep wrangler rubicon and Honda Accord

Then lives at an apartment? Unless dude is renting a penthouse at Hyde Park (just has infinite amount of disposable money) then that just do not make much sense.

 

[Xennial]

Then lives at an apartment? Unless dude is renting a penthouse at Hyde Park (just has infinite amount of disposable money) then that just do not make much sense.

Yeah he rents a 2 bedroom apartment, always said he doesn't need a house and is too lazy to keep up it and he's more into cars than house

 

[SoleByThePound]

Millineal gone millineal

 

[mivish06]

I would take renting a sick apartment over making payments on a house during my 20s/early 30s any day of the week...I'll leave the house for when I have a wife and kids but keep the apt with the river view during my bachelor years for dissecting the yambs with ease

 

[dankenstien88]

Why are some of you acting like there's something wrong with  having 4 cars?  

Your name is millennial though....

I thought you got around on fixies, vintage mopeds and only used electric hybrid zipcars in dire emergencies ?

 

[T Lo Sweater]

This has to be roll bread

No way this is cereal

 

[Xennial]

Your name is millennial though....

I thought you got around on fixies, vintage mopeds and only used electric hybrid zipcars in dire emergencies ?

Did I say I had 4 cars?  if you read the thread you'd see that I said I can't even afford to have 4 cars.  

 

[frank mucus]

I think location also plays a part in this though. It's not that easy buying a house out in SoCal when the average 1500 sq ft home is going to run you $400k unless you don't mind living in places like Bakersfield or Riverside.

 

[dankenstien88]

Your name is millennial though....


I thought you got around on fixies, vintage mopeds and only used electric hybrid zipcars in dire emergencies ?

Did I say I had 4 cars?  if you read the thread you'd see that I said I can't even afford to have 4 cars.  

Did I ask if you had 4 cars? If you read my post, you'd see that I said that in jest.


Seriously though... to answer the question....

10 cars and no home... I may have to shower in the rain and sleep under a bridge, but I'll be fresh as hell 10 days a week . Well.... fresh figuratively... I doubt rainwater showers are very cleansing.

 

[stillin729]

Why are some of you acting like there's something wrong with  having 4 cars?  I mean it may not be what you want but if someone can afford it and into cars why are you making it seem like its absurd or something?

4 depreciating assets and renting something which has no value to you

can you take a look at my 401k for me? I want to do the opposite of what you recommend

 

[plansb]

Yeah its not like any of those 4 cars will ever appreciate.

 

[mivish06]

Well it can depend as RFX mentioned, if the cars are relatively cheap and used as a means for earning you income it can make sense. And not all have the initial down payments to put down for owning a house and depending on location the houses can be really expensive

You gotta be really ballin to have 4 nice whips and an apartment to throw money away on and be ok with it

 

[Xennial]

4 depreciating assets and renting something which has no value to you

can you take a look at my 401k for me? I want to do the opposite of what you recommend

Not this again, new flash you and everyone else buy a lot of things in life that are going to depreciate, that's just part of life.  Renting something of no value?  It's called a roof over your head

 

[stillin729]

Not this again, new flash you and everyone else buy a lot of things in life that are going to depreciate, that's just part of life.  Renting something of no value?  It's called a roof over your head

you changed my mind, I am going for 5 cars now

 

[Coromanti]

 

4 depreciating assets and renting something which has no value to you

can you take a look at my 401k for me? I want to do the opposite of what you recommend

Not this again, new flash you and everyone else buy a lot of things in life that are going to depreciate, that's just part of life.  Renting something of no value?  It's called a roof over your head

You can't be that dumb.

Assuming you aren't just a troll....

Owning > renting. Owning your home allows you to sell it, rent it out to someone else, run a business out of it, etc. In short you can make money off of it ON TOP OF living there. It is an asset that can bring in revenue.

Now you're right that a lot of things we buy depreciate but cars depreciate stylistically not in utility. And you can only drive one at a time so owning 4 is not beneficial. And just like you can make money off owning a house, you can make money off owning a car. Uber, Lyft, gypsy cab, thats why your proposition of owning 4 cars is crazy.

 

[sharkin]

Haters everywhere.

Get tint on those windows, you'll need it 

 

[Xennial]

 
You can't be that dumb.

Assuming you aren't just a troll....

Owning > renting. Owning your home allows you to sell it, rent it out to someone else, run a business out of it, etc. In short you can make money off of it ON TOP OF living there. It is an asset that can bring in revenue.

Now you're right that a lot of things we buy depreciate but cars depreciate stylistically not in utility. And you can only drive one at a time so owning 4 is not beneficial. And just like you can make money off owning a house, you can make money off owning a car. Uber, Lyft, gypsy cab, thats why your proposition of owning 4 cars is crazy.

People have lost way more money on properties than cars so you can lose money on anything first of all.  

 

[fresh out dabox]

go with the house and car. who  neeeds 4 cars.

 

[supermanblue79]

Own the house first. Once the house is paid for, then you have the money to drive whatever you like.

 

[Xennial]

Own the house first. Once the house is paid for, then you have the money to drive whatever you like.

after 30 years?