freefallfreak 0 #1 April 9, 2005 Ok, gang...I've got a choice to make...here's your chance to help me go into debt so far, I'll never get out..lol A brand new Torch Red Ford Mustang Coupe GT with every option available, totally custom to my specs (interior {charcoal gray and red inset panels}/exterior {Torch Red}) or a new (to me, twelve years old in reality) three bedroom, one bath house in Alabama on 10 acres with plenty of privacy and nearest neighbor two miles away. I've already got a Pro Street rod and drive it a about 3 days a week. The Mustang will be a daily driver and supposedly gets about 17 miles in town but i'm not really worried about gas prices so that isn't really a factor. Any ideas??? Or maybe go into debt and buy them both?? I get a hell of a price cut on the Mustang through the Disabled American Veterans (over $4,500) placing the car at a bit over $27,000 and the guy with the house just wants out from under the payments (payoff is about $47,000) and doesn't want any of his equity...(divorce, lol. His loss, my gain.) TripleF "Upon seeing the shadow of a pigeon, one must resist the urge to look up." Quote Share this post Link to post Share on other sites
skip 0 #2 April 9, 2005 ughhh a 47,000 house - how much is it worth? Free equity? Fuck the mustang. n to the p Quote Share this post Link to post Share on other sites
freefallfreak 0 #3 April 9, 2005 The house was appraised three weeks ago at $67,000. I went to my bank today and they said to jump on it. TripleF edit to add: Oh yeah, the area is in a financially depressed area bringing prices down. In a larger city the house would sell for over $100,000 from what the bank told me. "Upon seeing the shadow of a pigeon, one must resist the urge to look up." Quote Share this post Link to post Share on other sites
Muenkel 0 #4 April 9, 2005 Buy the house. Real Estate almost always increases in value. Cars depreciate the moment you buy them. Considering what you said about the selling vs. appraised value of the house, you could end up with the Mustang for free. Chris _________________________________________ Chris Quote Share this post Link to post Share on other sites
swedishcelt 0 #5 April 9, 2005 QuoteBuy the house. Real Estate almost always increases in value. Cars depreciate the moment you buy them. Considering what you said about the selling vs. appraised value of the house, you could end up with the Mustang for free. ChrisWhat he said. Quote Share this post Link to post Share on other sites
freefallfreak 0 #6 April 9, 2005 Lol....God, I want that Mustang...it looks almost like one I had when I was younger.....lol. "Upon seeing the shadow of a pigeon, one must resist the urge to look up." Quote Share this post Link to post Share on other sites
freefallfreak 0 #7 April 9, 2005 Yeah, ya'll are probably right. The house is really nice, inside and out (1,800 sq. ft.) and the land is wooded except for about 8 acres. I've wanted the house ever since I first saw it....but damn, that Mustang is a sweet ride. So, I'll just have to sleep on it for a couple of days and make a decision after I get over the excitement of wanting the car. (damnit, lol) Geez, I hate growing up.... TripleF edited to correct: I meant that the land is wooded except for 2 acres. The other 8 is wooded. See?? I told ya I was excited...I can't think straight - lol, as if I ever thought straight before... "Upon seeing the shadow of a pigeon, one must resist the urge to look up." Quote Share this post Link to post Share on other sites
Hipwrddude 0 #8 April 9, 2005 Hey, go for your homestead. Actually, throw away the notion of the car. Keep your expenses within your income. Keep going with what you got and maintain it. Pour your excess into debt #1, retirement and investments.. invest in your future... Stay within your means. Play it safe. Be comfortable. Take care of yourself. That's it. You're always the starter in your own life! Quote Share this post Link to post Share on other sites
hookitt 0 #9 April 9, 2005 It's just a car. You aren't likely to crash a home. Get the house dude.My grammar sometimes resembles that of magnetic refrigerator poetry... Ghetto Quote Share this post Link to post Share on other sites
freefallfreak 0 #10 April 9, 2005 QuoteYou aren't likely to crash a home. ROFLMAO!!! Yep... The house isn't a moblie home and has no wheels so I probably wouldn't crash it (uhh, well, I'm pretty much capable of anything, lol). But ya'll are probably much more mature than me at this point...I'm just excited about the whole thing. TripleF "Upon seeing the shadow of a pigeon, one must resist the urge to look up." Quote Share this post Link to post Share on other sites
Muenkel 0 #11 April 9, 2005 I've purchased exotic cars in the past completely on impulse. Trust me, they loose their excitement pretty quickly. Before long I found myself noticing cars that I thought were nicer. It happens with women also. I must say though, the new Mustang is very cool. Chris _________________________________________ Chris Quote Share this post Link to post Share on other sites
JohnMitchell 14 #12 April 9, 2005 Take care of your needs before you take care of your luxuries. The other way around is a sure road to poverty. The house is too sweet to pass up, and will make you so much money in the future. The car will just cost you money. Sounds like you know a lot about cars. Why not pick up an older '60's Stang and make a daily driver out of that? Or maybe a Rice Rocket? Remember, as soon as you buy that house, you've made about $20K. As soon as you buy that car, you've lost $2-3K. Easy choice. Quote Share this post Link to post Share on other sites
justaflygirl 0 #13 April 9, 2005 The house dude.... easy decision... cars loose value as soon as you drive them off the lot..... houses only increase in value! Quote Share this post Link to post Share on other sites
jonstark 8 #14 April 9, 2005 You can sleep in a car but you can't drive a house!LOL Quote Share this post Link to post Share on other sites
tigra 0 #15 April 9, 2005 A house is an investment, a car is a money pit. Get the house! Quote Share this post Link to post Share on other sites
Slappie 9 #16 April 9, 2005 QuoteThe house was appraised three weeks ago at $67,000. I went to my bank today and they said to jump on it. TripleF edit to add: Oh yeah, the area is in a financially depressed area bringing prices down. In a larger city the house would sell for over $100,000 from what the bank told me. TriF you answered your own question... Get the house.. the Stangs will be around a few years. The house deal won't. "Find out just what any people will quietly submit to and you have found out the exact measure of injustice and wrong which will be imposed upon them." Quote Share this post Link to post Share on other sites
