How much is too much

[RMonte]

So I am driving down the street the other day and notice a guy just picked up a beautiful 57' Chevy. My guess is he
paid north of $75K for it. I point it out to my wife and her first response is, WOW his house is only worth $100K, I wonder what he was thinking.

I guess I never really thought about it before, but is their some type of relationship between how much money you can put into your toys before putting it into your house?

[jcharliem]

Re: How much is too much

I don't know the answer, because we don't have that problem in Orange County, CA. The '57 would cost $75k, and your house is $750k.

[Hemi Joel]

Re: How much is too much

If the wheels on your car cost more than the wheels on your house, then you are a true motorhead! :D

But seriously, if you are happy with your house, and you are secure enuff in your finances that spending money on cars will not interfere with maintaining an acceptible standard of living, get the car. I wouldn't buy the car if it causes a default on the morgage, or wipes out a saftey cushon in the savings account. 57 chev ragtops are probably better than $ in the bank anyway.

[Gary 351C]

Re: How much is too much

I don't know the answer, because we don't have that problem in Orange County, CA. The '57 would cost $75k, and your house is $750k.

No kidding. People here spend $75K remodeling their bathroom. :P

[SpiderGearsMan]

Re: How much is too much

what are finances ? my kids have new bikes and are all set with school clothes for the year
thats it

[Schtauffer]

Re: How much is too much

This is a philosophical question, so the answer will vary from person to person regardless of individual financial status.

My mom would say its ridiculous to spend any money on customizing a car or buying an extra one that's not needed for daily transportation. She could afford to drive most any new car if she wanted to.

Another guy I know would let his house go into foreclosure and his kids go hungry before he would sell his hot rod.

Me? If there's money that is available, I might spend it on an old car... or it might go towards something else I hold an interest in. It's whatever I feel like at the moment, pretty much. But if there's no money in the budget, go-fast money doesn't get borrowed from the bread fund or the mortgage or the credit card. Going fast and/or having fun is not worth being in financial trouble. I'd rather stay home and hang out with my wife than live it up, anyway. Fortunately I have a great wife.

[71SC/360]

Re: How much is too much

What I find disgusting is my restored, 6300 SF, historical, cobblestone house in Western NY (largest cobblestone house in North America) won't even bring 200k (been on the market for 3 years) but there are guys paying that much for a car. I know, location, location, location but this thing is beautiful, it's on the National and NY State historical register.
That 75K 57 Chevy is only 5K less than what I paid for my other house, a 2000 sf house on 3 acres with a pond, a detached 2 car garage, a small barn and 24' X 38' modern pole barn (my shop), surrounded by apple orchards. I like country living but I think that some of these prices for collector cars are absurd....

[1badmonkey]

Re: How much is too much

that would have to be one hell of an outstanding 100k house to stay put if you can afford to spend 75k on a car....and stay in the 100k house.

how big of a garage could a 100k house have??

i guess there are place like the one mentioned above, but i am guessin few and very very far between....

[KeithTurk]

Re: How much is too much

2400 sq ft and a 28 X 48 Shop in the back.... might be worth 200k and I don't care what it cost... or is worth.... it's my home...

Expensive hot rods are for rich people that are less likely to hang out with folks that know how to work on cars.... but they dig them and I'm cool with that...

K

[yellomalibu]

Re: How much is too much

Without breaking down to stereotypes, I'll simply say that some people's cars are higher on their priority list than where they live.

[STINEY]

Re: How much is too much

Its a perception thing, and varies from person to person.

See, when we are out in our cars, nobody knows who you are, and can only make assumptions based on your appearance. Since what you drive is a major part of your appearance, to some people it makes perfect sense to live in a dump and drive something way nicer than they can actually afford.

Not that this applies to everyone, and in general I believe that true gearheads don't give a rats patootie what others think.

But there are people to whom others opinions are more valuable than gold, even the opinions of people they will never even meet.

[A/Fuel]

Re: How much is too much

You can live in your car, but you can't drive your house!

[67BlueSS]

Re: How much is too much

How about if you live in a $100K shop with a bed in the corner and build $75K Hot Rods. ???

Now that sounds like a dream. ;D

[milner351]

Re: How much is too much

I've said this before and I'll say it again - if I was single and looking for a house - the first thing I'd try to find was an old fire house - already has the kitchen, bathroom and bunkroom, next to and in same building with a huge heated and probably air conditioned shop with enormous doors painted floors, etc. freaking perfect.

I will never understand folks driving brand new cars and living in a dump.... but - thank GOD we live in a free country where such things are possible.

To each thier own.

I hope to build cars someday that someone might payme $75k for.... then I'll go do it again.

building them is a lot of the fun for many of us. Driving them and racing them is great too.... and nothing beats the feeling of using something you've built - that's what keeps guys like us going.

If that dude wants to spend $75 on a car and live in a $100k house - so be it.... this is America.

[KeithTurk]

Re: How much is too much

I see a Pole fixing to develop ..... this is interesting to me....

K