Is your car the most expensive thing you own?

[Fritzo]

I make good money, yet I can't afford a lot of the cars that ATOTers show off here. People are buying $40K-$50K...even $60K cars and act like it's no big deal. How can you afford a $800/mont car payment and still pay house payment or rent/utilites/bills/savings/family expenses (if any)/etc??? Am I missing something?

 

[Viper GTS]

Yes it's the most expensive thing I own, but it is very practical. Spent less than 10% of a year's salary on it, paid cash.

For most non home owners a car is going to be their most expensive posession.

Viper GTS

 

My car is the most expensive thing I own (actually, given that I'm only 1 year into the loan term, my equity in it is not that much) but I can afford it.

If I don't own a house, what could I possibly own that's worth $19,000 (the price of my car) except a car? Just because it's the most expensive thing I own, that doesn't preclude me from being to afford it.

 

[FoBoT]

i have 3 cheap cars , all paid for, no car payments at this time

1990 mazda 184K
1997 saturn 124K
1998 plymouth mini van 118K

we paid about 38 times what those 3 vehicles are worth for our house, roughly

 

Originally posted by: FoBoT
i have 3 cheap cars , all paid for, no car payments at this time

1990 mazda 184K
1997 saturn 124K
1998 plymouth mini van 118K

That doesn't answer the question. Are your cars the most expensive thing you own?

 

[SynthDude2001]

Yes it is, and I only paid $2000 for it.

 

[Ketteringo]

Yes, because I am in college and don't own anything else.

 

[Ryan]

Nah - rent is my most expensive bill, car payment is second highest

 

[nageov3t]

my car was given to me for free.

it's worth less than my ipod. :laugh:

 

[FoBoT]

Originally posted by: jumpr

Originally posted by: FoBoT
i have 3 cheap cars , all paid for, no car payments at this time

1990 mazda 184K
1997 saturn 124K
1998 plymouth mini van 118K

That doesn't answer the question. Are your cars the most expensive thing you own?

i realized that and edited
"we paid about 38 times what those 3 vehicles are worth for our house, roughly"

how many people who own homes can answer this question "yes" ? very very few
you would have to own a very expensive car and a very cheap house/mobile home

 

[Whoozyerdaddy]

My house is worth more than my car. But my income tax is more than my house payment and my car payment combined.

 

[Supermercado]

Nope. I think my car is worth about $500. Probably worth more in parts, if for no other reason than the fact that I had to get a new clutch put in within the last year. My monthly rent is more than the value of the car, as are two of my computers.

 

Originally posted by: Whoozyerdaddy
My house is worth more than my car. But my income tax is more than my house payment and my car payment combined.

Your quarterly payment, or your yearly amount owed?

 

[ponyo]

My house is. My cars are practical and cheap. I can easily afford to get exotic expensive cars, but I'm happy with what I drive. Marriage and kid changes how you view things.

It's about priorities and value. Some people can easily afford expensive cars and get it. Others can't afford it but still get it. Others can afford it but choose not to. Nothing wrong with that.

Making good money is relative. What you consider good money might be chump change to others and vise versa. It's all about how much disposable income you have after you pay your bills and lifestyle.

 

[Rainsford]

My car is the most expensive thing I own (as it probably is for most non-homeowners), but it's not my biggest bill each month. Why? Because I saved up and payed for it up front. What a concept!

 

[Fritzo]

Originally posted by: Naustica
My house is. My cars are practical and cheap. I can easily afford to get exotic expensive cars, but I'm happy with what I drive. Marriage and kid changes how you view things.

It's about priorities and value. Some people can easily afford expensive cars and get it. Others can't afford it but still get it. Others can afford it but choose not to. Nothing wrong with that.

Making good money is relative. What you consider good money might be chump change to others and vise versa. It's all about how much disposable income you have after you pay your bills and lifestyle.

Well, we after bonuses and dividends we make 6 figures, but we make our house the most important asset. I'm just wondering about these people that are making $700-$800 car payments and they're renting an apartment. Why wouldn't they buy a house instead and make money instead of draining their income into negative equity?

 

[FoBoT]

maybe people that buy expensive cars but don't own a home have small penises

 

[Ronstang]

Well, houses would be your most valuable asset if you actually OWNED it, just as your car if you make payments. You don't technically own anything that you are making payments on until the loan is paid off. Look at your equity position in an asset to determine exactly how much you own. That being said, while I have cars that are worth as much as some houses (57 T-Bird, 66 Shelby G.T.350H) I guess my lake house is my most valuable possession since it is completely paid off, well it was actually built along the way with no real mortgage so it has always been OWNED so to speak. There were times when my cars were the most valuable asset I owned since I have always paid cash for cars as I refuse to carry a note for a depreciating asset....well, 4 of my cars actually go up in value every year is seems but that is a completely different thing.

 

[EKKC]

no. my gf is the most expensive thing.

j/k. my apartment is. but then i split half with my gf. but the half is still a lot more than my xterra.

 

[CrackRabbit]

Nope, sadly my computer is worth more than my car. Hell the video card that i just sold is worth more than my car.

 

[ponyo]

Well, we after bonuses and dividends we make 6 figures, but we make our house the most important asset. I'm just wondering about these people that are making $700-$800 car payments and they're renting an apartment. Why wouldn't they buy a house instead and make money instead of draining their income into negative equity?

Because they're not financially bright or situation calls for it or that's what makes them happy. Some people rent because of their job and frequent move so renting isn't bad option for them.

I dunno. Some people buy way too much house than they can afford and are slave to their house and house payments and upkeep. House is an investment so it's all good but I personally can't live like that.

Like I said it's all about disposable income after you pay all your bills and lifestyle. Sounds like you don't have enough after you pay your house, cars, utilities, eating out, save, etc.

 

[tk149]

Yes, my car is the most expensive thing I own. But your poll needs an option for "No car payments/paid in full"

I hope to buy a home soon.

 

[MagicConch]

I paid my car in cash so my most expensive bill would be my mortgage.

 

[Xyclone]

I'm only 15, I don't have a car yet. But next year my dad is giving me his Toyota Tundra 03, which is in great shape.

 

[Martin]

Nope, the most expensive thing I own is my student loan

unfortunately the payments on this mean I can't really afford a car.