914 budget, is your 914 putting you in Debt?, where does your money come from? |
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914 budget, is your 914 putting you in Debt?, where does your money come from? |
Mueller |
May 3 2005, 03:27 PM
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914 Freak! Group: Members Posts: 17,146 Joined: 4-January 03 From: Antioch, CA Member No.: 87 Region Association: None |
Someone elses post about refinancing his house to get some money for his 914 got me to thinking....
How do most people budget for repairs or upgrades to thier 914s?? For me, it's mostly a few hundred bucks a month I can spare cash wise with a large $1000 purchase or so on my credit card that I know I can pay it off within 3 months or so (or until my wife sees my statement and yells at me (IMG:http://www.914world.com/bbs2/html/emoticons/smile.gif) ) Has anyone really done a re-fi and spend $10K or more on their 914 in just a few months? What about just going on a shopping spree with credit cards and just deal with paying off the $20K in a hundred years or file for bankruptcancy (I do not condone that) |
lapuwali |
May 3 2005, 04:21 PM
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Not another one! Group: Benefactors Posts: 4,526 Joined: 1-March 04 From: San Mateo, CA Member No.: 1,743 |
Whatever I can spend on it in cash. No credit cards except for making Internet transactions, and they get paid off ASAP. I have four "project" cars I'm juggling at the moment, so things happen very slowly. The 914 has sat outside untouched for several weeks now, and will remain untouched for probably another two months until I get another project done. I pay for my project basically by not having a new-ish daily driver. Rather than buy a $30K 3-series and lose $15K on it in 5 years from depreciation, I buy 3-4 projects for $15K and spend another $5-10K over time restoring them as I drive them, then sell them for $10-15K (total, so I'm down $5-10K on the deal). It's not always pleasent to HAVE to drive 20-30 year old cars, which is why, once this set of projects is done, I'm going to buy a 4-5 year old daily car I'll abuse and only have ONE project going.
Cars and spending money on them isn't a rational or economic exercise, unless you deal in hyper-rare Pebble Beach class exotica (and it's rarely economic then). Just calculate how much money you can throw in the fire every year, try to spend a little less than that, and have a good time doing it. |