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How your funds are stored?

Discussion in 'The Lounge' started by mountainexplorer, Apr 22, 2005.

  1. mountainexplorer

    mountainexplorer 1/2 ton status

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    Most people have any money they have saved up in a bank account, or invested in stocks/bonds, or just plain don't have any saved.

    Am I the only one that considers their parts and vehicles as their "bank"?

    Whenever I buy ANYTHING vehicle related, I don't buy it unless it's something I know I can re-sell for at least what I paid or more. To me, every part I have is an asset that equivilates the sum of all the money I have made by wheeling and dealing with trucks and cars. When I'm short on money, and I need to make a "withdrawal", some vehicles or parts get sold. It's like me cashing in on my investments... some of which yield profit, and others which I break even, and the occasional slight loss. I know that doing this is risky, cause the market could be considered unstable, but everytime I get money, I always feel the need to keep it moving around, getting something else which later down the line will yield me cash back or even more when I need it.

    I already know all the flaws to this, and is something I consider a temporary way of life until I am married and have kids... but was just wondering if anyone else thinks this oddly.
     
  2. tRustyK5

    tRustyK5 Big meanie Staff Member Super Moderator GMOTM Winner Author

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    Anything with wheels or a skirt is a crappy 'investmant'...

    That being said, both can be a hell of a lot of fun.

    rene
     
  3. afroman006

    afroman006 1/2 ton status

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    You are not alone my friend. I have a few thousand invested in parts trucks right now, its what I do for income since I'm a lazy college student who doesnt feel like getting a job. Its great having the space to store all this crap, that was I dont ever have to unload something for a rediculously low price because I need the space. That certainly helps with the money making aspect. I keep track of how much I spend on every truck and how much I make off of it and my profit margin is usually anywhere from 50-300%. Plus I get all kinds of cool parts for free :D
     
  4. CyberSniper

    CyberSniper 1/2 ton status Premium Member

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    I do the same thing. The only problem is finding the right buyer. That, and no matter what I paid for it, I won't sell it for less than what it's "worth to me".

    Around where I live now it's virtually impossible to sell anything for a fair price. You either trade or you lose. Usually is what happens is that you sell it then the cheap bastard that wouldn't give you what you wanted gets pissed at you for "selling it out from under them" when they never even offered anything near what you wanted. I sell 90% of my stuff about 500 miles south of here. I sell it for less than fair market price there (so I can get rid of it quick) and still make 30-60% more than what I'd make here.

    For example, I can't sell automatic transmissions that'd make good cores (rebuildable, no broken hard parts) here for even $75. However, I sold a whole bunch to the transmission core guy for $125/each.
     
  5. mountainexplorer

    mountainexplorer 1/2 ton status

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    Sounds like someone just like me. :D

    People always think I have lots of money invested into my trucks. I usually fail to explain to them that all my rigs (or parts I should say) have been funded by my hobby. If my hobby COSTs me money, I couldn't afford it, but the way I do things, it pays for itself for the most part, and even some of the fuel.

    Usually, the only times I break even on a vehicle or part or lose money is if I'm making a friend a deal on something. One thing I don't like to do is profit off someone I know; unless it's something I don't want to sell and they offer me enough that it talks me out of it. I'll still tell them how much I'm into it though.
     
  6. MTMike

    MTMike 1/2 ton status

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    Oh let's see,

    I have my trailer, which I should be able to break even on if I were to sell, but I would be ahead of the game by the functional use & fuel savings it's provided by not having to drive my 4mpg K10 300+ miles to trail rides. (Instead I get 6mpg w/ the dodge towing it :haha: But I also have the security of knowing if I break something major, I still have a ride home). Then I only paid $4500 for the K10 when it had well over 10k invested into it by the p/o, so I'm way ahead there.

    Other than that, I owe on the Dodge and my '99 Z28 about what I could realistically sell them for..... Then I have the $1k 1994 Mercury "150k mile beater" Sable, that, as long as the tranny holds should be worth that or a little more.

    Those are my "wheeled" investments.

    Then I've got $4+k in my 401k, a few hundred in the stock market (2 shares of Google & 44 of Sirius), a few $k in savings. Then there's the house. Bought it for $96k, owe 93k on the mortgage, took out a good-sized 2nd to do some major home (& truck) improvements, had it reappriased at $120k, so I'm several $K ahead there.

    So I have a decent net worth going....until my wifes student loans take effect when she's done in 2 more years. Then we're poor as poor gets :(
     
  7. diesel4me

    diesel4me 1 ton status Premium Member

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    My "funds" can be stored in a thimble....

    I was looking around at all my stuff the other day,and was adding up the price all of it would bring if I just decided to say screw living here anymore and sell it all and move....plus my savings account...

    Of all my vehicles,the 95 Contour is probably worth the most--its in the "blue book" for 2500-3500 bucks average retail,and it is in nice shape for its age and mileage....but I'd have to keep it,its the best one on fuel,and has special meaning to me,since it was given to me by a favorite singer of mine..I would not sell it unless I was destitite,and even then I'd feel terrible about it...

    My 82 K20??--with a diesel and a plow,it would bring about 1500 bucks,maybe a bit more,but not many people here want a 20 year old truck thats starting to rust thru for that much money--it would sell for more in november than spring,to someone hoping to make money plowing....not that many fans of diesels here,though a lot of fords and dodges are starting to get more numerous lately...

    My 81 G10 van??---its useable,but its been sitting about 16 months!---good for someone to camp out in locally,or perhaps a contractor would buy it to store his tools and drive locally-or make a nice homeless shelter!--I might have to keep it to live in :frown1: )-I paid 500 for it in 1990--be lucky to get that for it now....

    The 79 C10 is probably another 1500-2000 dollar truck--IF I brought it to a swap meet or antique car show/auction.....any average joe who wants it would probably not want to pay more than 1000 bucks,the only thing going for it is its antique status,no emissions,and the body is real decent for its age,but not mint...

    The 74 K20??--its worth about 200 in scrap!--I'm trying to pull the motor,plow frame and blade and T-case out to re-sell--be lucky if I get 500 for the whole mess....

    All the crap in my garage might bring a few hundred between the crusher and a yard sale...more stuff in the yard might bring that much too...

    Got 800 bucks left in my life savings.. :frown1: :surepal: :screwy: :screwy: and that drops about 10-20 bucks a day if I dont buy anything, or go anywhere--and live on soup and crackers... :crazy:

    I've never made much profit on any automotive related stuff at all--the few times I did was when I scored some rally wheels at the landfill free someone threw out,and I sold them for 60 bucks for 4--that about paid for the gas and admission to the swap meet--a 100 mile ride each way.. :surepal: :screwy: that was really worth it!....more often I practically had to GIVE stuff away before anyone would buy it!--sometimes I just left it at the dupmster at the swap meet so I didn't have to lug it home and trip over it another year....

    So all told,IF I could sell everything I own,and add my bank account,I'd be lucky to get 5 or 6 grand for everything!--looks like I wont be buying a house with that!--I do have an IRA accout thats almost that much,but cant touch it til I'm 60--13 more years!(or I lose a lot of it if I do!) :frown1: .....looks like I'm screwed,blued,and tattooed,as far as ever having a place of my own,or a good life now........ :(
     
  8. Thunder

    Thunder 3/4 ton status

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    Sounds like all you guys have invested in what is known as "Rolling Stock"
     
  9. justhorsinaround

    justhorsinaround 3/4 ton status

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    Y'all have funds to store? Huh.
     

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