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#2428593 - 01/03/18 08:34 PM Re: Did you ever liquidate to improve your situation? [Re: OhioMopar]
dart4forte Offline
I Live Here

Registered: 01/31/03
Posts: 14485
Loc: Mesa, Arizona
Originally Posted By OhioMopar
Originally Posted By McCandlessboy
I have followed one simple rule to keep me out of financial trouble with toys/hobbies. If you can't buy 2 of them with cash, don't buy 1 of them. That's obviously on the buy side. On the selling side, if you have something that has strong value, say 50-60k it may make sense to move off of it. You can buy nicely appointed cars in the 20-25k range, allowing you to pocket 40k. Had this been done a year ago, your 40k would be close to 50k right now. As long as you're realistic about your situation and what your car ACTUALLY costs you, only you can decide what is right. People rarely know true cost of ownership. From maintenance, time, insurance, etc.

Be honest what about your car is worth as well. Countless times people hang on to a belief their car is worth X, only to find it's X - 20%.



If I used that philosophy, I likely wouldn't buy anything. Which may not be such a bad thing, I guess.
On the selling side, my car is probably still worth what I paid for it 4 years ago, possibly even less since it left its cushy Georgia climate and has been stuck in the winter hell that is Ohio for three winters now. I don't have an overly high opinion of what it's worth, but man, if it was done... A triple black N-96 4-speed console/buckets has to be at or near the top of the 383 food chain. I can't think of a way it would be optioned better.(other than having a stripe, disc brakes, a 26" radiator and 3.91 gears)





I think you have a cool car worth keeping. I still kick myself for not buying your 70 340 Swinger


Edited by dart4forte (01/03/18 08:35 PM)

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#2428684 - 01/03/18 11:22 PM Re: Did you ever liquidate to improve your situation? [Re: OhioMopar]
NV69B7RR Offline
master

Registered: 11/08/06
Posts: 5931
Loc: Reno, Nevada
To answer your question, yes I have. There are things more important than cars in life. Cars come and go. Finding a new car is always fun and something new will always come along.

A big question is how much longer will our hobby exist with whole autonomous car push coming.

I would try to keep the Bee over the Challenger if it came down to it. The Challenger would be much easier to replace.

A great book to read "Rich Dad, Poor Dad" if you haven't already.
_________________________
68 AMX track car
72 Demon 340
71 Duster 340 Resto http://board.moparts.org/ubbthreads/show...part=1&vc=1

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#2428686 - 01/03/18 11:26 PM Re: Did you ever liquidate to improve your situation? [Re: OhioMopar]
stumpy Offline


Registered: 01/19/03
Posts: 29643
Loc: Grand Prairie,Texas
I did but she still got me for alimony. You know the screwing you get for the screwing you got.

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#2428692 - 01/03/18 11:42 PM Re: Did you ever liquidate to improve your situation? [Re: NV69B7RR]
OhioMopar Offline
master

Registered: 08/17/03
Posts: 8455
Loc: Mt.Gilead, Ohio
Originally Posted By NV69B7RR

I would try to keep the Bee over the Challenger if it came down to it. The Challenger would be much easier to replace.

A great book to read "Rich Dad, Poor Dad" if you haven't already.

The Challenger would go if it were possible at this point. It's not right now.
I need to make a list of the books recommended to me on here. There are a lot of well read people here with good insight.

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#2428709 - 01/04/18 12:08 AM Re: Did you ever liquidate to improve your situation? [Re: OhioMopar]
poorboy Offline
master

Registered: 01/19/03
Posts: 6520
Loc: Freeport IL USA
Selling stuff doesn't work out very well for me. Every time I need to sell something, it seems 100 more of the same item become available instantly and mine becomes worthless.

The Dave Ramsey book helped me a bunch. Gene

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#2428711 - 01/04/18 12:11 AM Re: Did you ever liquidate to improve your situation? [Re: poorboy]
OhioMopar Offline
master

Registered: 08/17/03
Posts: 8455
Loc: Mt.Gilead, Ohio
Originally Posted By poorboy
Selling stuff doesn't work out very well for me. Every time I need to sell something, it seems 100 more of the same item become available instantly and mine becomes worthless.

The Dave Ramsey book helped me a bunch. Gene

I've never been very good at selling things, either. If I absolutely have to sell it, it will sell for way less than other people can get out of it. If it sells at all.
_________________________

Looking for my original 383 block. Last seen around the Atlanta area. 7449 are the last 4 of the VIN.

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#2428924 - 01/04/18 12:33 PM Re: Did you ever liquidate to improve your situation? [Re: OhioMopar]
second 70 Offline


Registered: 02/04/14
Posts: 460
Loc: central il.
This is a tricky question because you have to be honest with yourself about your saving and spending habits plus the circumstances

I know people who can downsize and improve their daily lives and I know others that will be worse off in a matter of days. I know people who took out loans on a paid off houses just because interest is low even thou they didn’t need to.

My parents were both born in 1920 & 1921 and taught us to live within our means and if we wanted to buy something save the money and then after you have it take a week to see if you still think you want it after seeing how much work it was to save. My brother and I learned this lesson well while my sister could spend everything she gets her hands on and have nothing to show for it. My mother will be 97 in March and is living on her own savings. Based on her cost of living she has enough to make it to 110.

So it comes down to if you’re willing to do without what you’re downsizing then it’s wonderful to live debt free. But if you can’t then it’s not a good idea because the money and whatever you sold will both be gone.

Mike

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