SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: Tradelite who wrote (29074)4/5/2005 8:57:38 AM
From: fattyRespond to of 306849
 
Sounds like I should keep my Honda Accord for many more years to come. I'd hate to miss a chance of owning a classic.

>Seen the same thing happen with my 15-year-old automobile. Price declined for years, to the point where I found it cost-effective to cancel the collision insurance.

>All of a sudden, I seem to own a "classic" automobile which would command more money in the open market than the amount estimated by my dealership's body shop to fix the ugly dent in the side of the car imposed by a crazy driver a week ago.



To: Tradelite who wrote (29074)4/6/2005 12:19:26 AM
From: GraceZRead Replies (2) | Respond to of 306849
 
I'm keeping the car and expecting to collect the insurance to get the dent fixed.

I always keep my cars for a long time, less likely to get it stolen or jacked with an old car. This reminds me, it's time to drop the collision on mine as well. The biggest pain in the butt is having someone hit you when you are driving an old car that has the potential for many many more miles and has been paid in full for years. I've had someone else total almost all my old cars, it has been a reliable source of new car funding for me. The last was a Toyota that a semi truck didn't see as we were stopped on the highway, he crept up and crunched the trunk. My husband kept it and used it as a junker for 60k more miles, just put everything in the trunk in plastic. If that guy hadn't hit it, I might still be driving it. Considering I've recently put the cost of a new car into a complete dental restoration, unless someone totals this one, I'll be driving my old Outback for a few more miles as well.

Theory here would have it that I should sell my house, buy a new car, pay for the dental work and then buy my house back cheaper in a few years with the leftover windfall from the RE bubble. Ha! Frankly, having such a cheap mortgage payment has been windfall enough.