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01-19-2022, 02:49 PM
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#20276 | | in the butt
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Originally Posted by Gerbs  So house poor too, when would you guys considering buying a p car like a used GT4? Around what net worth or income?
Always thought it was possible once you made like $120,000ish and had your own place but feels like you have to double that to do it reasonably comfortably. | Not about income or net worth to me, I have a goal of getting an nsx by 30, it's either that, or a third unit
Too many variables too, living with someone or not, scale of debt, savings, buy vs finance the car, long term travel, etc first world problems
__________________ Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
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01-19-2022, 02:59 PM
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#20277 | | Rs has made me the woman i am today!
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Originally Posted by Gerbs So house poor too, when would you guys considering buying a p car like a used GT4? Around what net worth or income?
Always thought it was possible once you made like $120,000ish and had your own place but feels like you have to double that to do it reasonably comfortably. | What donk said pretty much. You have different needs at different times of life. Daycare is a significant cost for us and cost about the same as the lease on my M3.
Together daycare cost + M3 would have leased me a 911. Good luck getting an infant in the back of a 911 though.
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01-19-2022, 03:01 PM
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#20278 | | Performance Moderator
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You're just not trying hard enough EvoFire!!!!
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01-19-2022, 03:05 PM
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#20279 | | I have named my kids VIC and VLS
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__________________
Dank memes cant melt steel beams
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01-19-2022, 03:17 PM
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#20280 | | RS Veteran
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Drives M3. Says he's poor.  | |
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01-19-2022, 03:18 PM
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#20281 | | My homepage has been set to RS
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| Quote:
Originally Posted by Gerbs So house poor too, when would you guys considering buying a p car like a used GT4? Around what net worth or income?
Always thought it was possible once you made like $120,000ish and had your own place but feels like you have to double that to do it reasonably comfortably. | For cars, many people follow the 20% down, lease for four years, no more than 10% of net income rule aka 20/4/10 rule.
With a lease of about $1800 for a GT4, you'll need at least $18,000 net a month to do it comfortably.
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01-19-2022, 03:23 PM
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#20282 | | My homepage has been set to RS
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Hmm. I think it's actually finance for four years, not lease... Which means you'll need MORE money lol.
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01-19-2022, 03:28 PM
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#20283 | | RS Veteran
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20% down on a car? I must be doing something wrong. I've put down 0% all this time.  #poor #iwantanM3
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01-19-2022, 03:40 PM
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#20284 | | Rs has made me the woman i am today!
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Originally Posted by bcrdukes 20% down on a car? I must be doing something wrong. I've put down 0% all this time. #poor #iwantanM3 | Nobody said I was financially wise. It was a financially stupid decision but #YOLO
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01-19-2022, 03:43 PM
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#20285 | | nuggets mod
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Originally Posted by Gerbs So house poor too, when would you guys considering buying a p car like a used GT4? Around what net worth or income?
Always thought it was possible once you made like $120,000ish and had your own place but feels like you have to double that to do it reasonably comfortably. | IMO, for any car, you should only buy it with cash. So it's not an absolute net worth or income. Some people have a high income, but no savings.
So if you have the cash to buy a GT4, and using that cash doesn't affect your daily life/bills/mortgage, that would be the *earliest* time I would consider it.
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I searched for truth, and all I found was You
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01-19-2022, 04:01 PM
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#20286 | | RS Veteran
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Originally Posted by EvoFire Nobody said I was financially wise. It was a financially stupid decision but #YOLO | haha just teasing 
Re: GT4 and other dream cars - Just #YOLO and buy it. There's never a right time to buy these kinds of cars. If you have the means to do it, then go for it and drive it like you stole it. Forget what everyone else says or thinks.
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01-19-2022, 04:09 PM
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#20287 | | OMGWTFBBQ is a common word I say everyday
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Cash flow is the MO these days, as opposed to having access to cash.
The price of used sports/vintage cars has increased significantly over the past several years, thanks to the pandemic, influencers, etc.
In the current inflationary environment, it can make sense to buy the car when the example you want comes up and finance it using your HELOC at essentially a negative interest rate.
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01-19-2022, 04:17 PM
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#20288 | | in the butt
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Originally Posted by bcrdukes haha just teasing
Re: GT4 and other dream cars - Just #YOLO and buy it. There's never a right time to buy these kinds of cars. If you have the means to do it, then go for it and drive it like you stole it. Forget what everyone else says or thinks. | And then when you go to resell it, the jackass wanting to buy your p / 911 / Ferrari / GTR asks so have you ever raced it or has it been driven hard?
What your thinking of replying: no, I bought a 400hp sportscar to get groceries and drive it at 50kmh only.
What you actually say: I have babied it for all its life, absolutely not
__________________ Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
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01-19-2022, 04:18 PM
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#20289 | | Willing to sell a family member for a few minutes on RS
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I bought a condo when I couldn’t afford it, I bought an e30 m3 when I shouldn’t have, and both ended up being good financial decisions. IMO don’t rationalize it, just make sure you aren’t fucking yourself. Don’t think of the purchase price being a loss if you can’t afford it, think of the money it will cost you to get out of the decision.
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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01-19-2022, 04:51 PM
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#20290 | | Performance Moderator
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I like to say you need to be in a position either financially OR mentally to joke about it if it goes fucking wrong.
I saw a comment on a Ferrari auction once that stuck with me, the seller was basically losing $20,000+ on the Ferrari he was selling because he got burned by the previous owner and had to fix a lot of shit… as he said: “It’s all good, I wanted to scratch my 1990’s Ferrari itch and I ended up nicking an artery instead, just one mis-step on the road to automotive Nirvana” haha…
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01-19-2022, 05:03 PM
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#20291 | | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
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20k is a big loss, but it's not catastrophic for someone considering a gt4. If it is, I'd say that's a pretty good metric you shouldn't consider it.
If I lost 20k on my e30 after 2 years of ownership, I wouldn't say that's a disaster. It wouldn't make me feel good, but people have developed this idea that cars aren't depreciating assets. 20k lost in 2 years on some new 3 series is pretty standard, the gt4/e30/ferrari is a shitload cooler way to do it.
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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01-19-2022, 07:08 PM
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#20292 | | I have named my kids VIC and VLS
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330k over asking in 8 days 
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Dank memes cant melt steel beams
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01-19-2022, 07:40 PM
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#20293 | | Need to Seek Professional Help
Join Date: Jan 2005 Location: Van
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Nicely renovated character home in a “gritty neighbour? There’s a huge segment of the population that would O at the thought of that.
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01-19-2022, 08:01 PM
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#20294 | | My homepage has been set to RS
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For a $2.5M house
$500k down with $11k monthly mortgage... GOT DAMN
Who has $500k down? Like that's crazy man.
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01-19-2022, 08:07 PM
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#20295 | | I *Fwap* *Fwap* *Fwap* to RS
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Any predictions on the DT condo market? Seems like it's gotten battered last couple years
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01-19-2022, 08:32 PM
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#20296 | | Need to Seek Professional Help
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Originally Posted by PeanutButter For a $2.5M house
$500k down with $11k monthly mortgage... GOT DAMN
Who has $500k down? Like that's crazy man. | Almost anyone who bought a condo or TH at least 5+ years ago in Vancouver would have 500k down if they sold it. But who are we kidding, we live in Vancouver. 7 figure down payment is the name of the game.
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01-19-2022, 08:41 PM
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#20297 | | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
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Vancouver in a nutshell. 
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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01-19-2022, 08:47 PM
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#20298 | | I *heart* Revscene.net very Muchie
Join Date: Jun 2002 Location: Vancouver
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Originally Posted by PeanutButter For a $2.5M house
$500k down with $11k monthly mortgage... GOT DAMN
Who has $500k down? Like that's crazy man. | More than most people think. Quote:
Originally Posted by van_driver Any predictions on the DT condo market? Seems like it's gotten battered last couple years | When the pandemic is over and people are comfortable going back to DT that's when prices will go up. But there's some current sellers that we've came across unwilling to move on their list price
Last edited by 6thGear.; 01-19-2022 at 09:22 PM.
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01-19-2022, 09:13 PM
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#20299 | | My homepage has been set to RS
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Originally Posted by Alpine Almost anyone who bought a condo or TH at least 5+ years ago in Vancouver would have 500k down if they sold it. But who are we kidding, we live in Vancouver. 7 figure down payment is the name of the game. | Yeah, that makes sense.
I guess I would ask who can service an $11k mortgage? I only know a few friends who can do that and they are software engineers or entrepreneurs with a good business.
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01-19-2022, 09:35 PM
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#20300 | | OMGWTFBBQ is a common word I say everyday
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There are many more wealthy and high income people in this city than people tend to believe. A few pages back, I talked about friends of ours, under the age of 40, who bought a house on the outskirts of Shaughnessy this year ($3M+). Well, their business partner made the Top 40 under 40 in BIV this year.
A house like the one on Trinity St would definitely go to a typical two big-tech income household.
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