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Discussion Starter #1
Hi All,

As the title says, I am in a situation where I have to decide something or the other but have to come out with some outcome. I have had really too much fun driving this Q all these days even though I had it for very little time. The
1k miles I kept on it from the time I bought it are some of the memorable miles that I have driven on road.

Recently we thought of buying a house after staying in rental houses for soo long (maybe like 7 years) while moving here and there. So, as it is with buying house which needs money, the first one to go from my babies is the Q. I can
sell L but its not worth much, while it runs good and gives decent mileage without compromising THE fun of driving.

On the other hand I can sell SVX, but its the car that I had never trouble with it except changing the tranny by myself(and yes, its me who damaged the stock tranny) and its indeed my first car I ever owned and its Subaru's AWD too.

So, the question is, should I sell my Q or not. Seems like I am not giving much options to choose, but thought it would be worth asking your opinions before I make some decision as you are the ones who helped me maintain these cars whenever I had trouble and I really appreciate it. If time permits, will buy another Alfa later, its not like they are extinct to say :p. I will keep thinking for a week or so, before deciding on something. In the end it doesnt matter which car I sell, I will miss it alot :(.

As you all know about the car I dont need to describe it again. The only upgrades I did are the euro projector headlights and side turn signals. Have to get the headlight level controller trim piece from Jason, its just that I am not having soo much time to work on it currently, but will eventually order one and install it one day :rolleyes:. All in all its still in the same immaculate condition like when I bought it.

thanks,
-Pavan.
 

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Discussion Starter #3
It's just a car. You can always find another. There is no substitute to buying and owning your own home. At least for now, you can write off the interest that you pay on the home. I hated having to move all of the time, when I rented. If you can scrape together the cash for a home, do it. There are a lot of houses on the market, so the advantage is to the buyer.
Yeh, recently the houses are already going for lower than their market prices over here or atleast in fremont area and as so with the interest rates too. This is why we are thinking of buying a house. But on the other note, I bought this Q after searching quite a while and finding the right one and to say THE perfect one for its age if you consider.

-Pavan.
 

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Buy the house. Having done this a number of times has allowed me more freedom than many of my contemporaries. I know they don't give away houses in Freemont and next year may be better for prices in my opinion but if you have an opportunity that works in your budget I go for it there will be other cars coming down the pike.
 

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Hi All,

As the title says, I am in a situation where I have to decide something or the other but have to come out with some outcome. I have had really too much fun driving this Q all these days even though I had it for very little time. The
1k miles I kept on it from the time I bought it are some of the memorable miles that I have driven on road.

Recently we thought of buying a house after staying in rental houses for soo long (maybe like 7 years) while moving here and there. So, as it is with buying house which needs money, the first one to go from my babies is the Q. I can
sell L but its not worth much, while it runs good and gives decent mileage without compromising THE fun of driving.

On the other hand I can sell SVX, but its the car that I had never trouble with it except changing the tranny by myself(and yes, its me who damaged the stock tranny) and its indeed my first car I ever owned and its Subaru's AWD too.

So, the question is, should I sell my Q or not. Seems like I am not giving much options to choose, but thought it would be worth asking your opinions before I make some decision as you are the ones who helped me maintain these cars whenever I had trouble and I really appreciate it. If time permits, will buy another Alfa later, its not like they are extinct to say :p. I will keep thinking for a week or so, before deciding on something. In the end it doesnt matter which car I sell, I will miss it alot :(.

As you all know about the car I dont need to describe it again. The only upgrades I did are the euro projector headlights and side turn signals. Have to get the headlight level controller trim piece from Jason, its just that I am not having soo much time to work on it currently, but will eventually order one and install it one day :rolleyes:. All in all its still in the same immaculate condition like when I bought it.

thanks,
-Pavan.
It's a tough call. Buying a house may not need all that much money.
So giving up the Q may be regretful after buying a home.
I say get rid of the SVX. Here is my thinking. You want to buy a home. You may get 5-7K for the SVX depending on a few things. I assume you want a family some day right? No? If so the 164 is a great family car...cough cough!!
I would say in the grand scheme of things the 164Q although not AWD is 20 times more fun to drive than the SVX. I drive my Fathers SVX from time to time all over the place. It is no Alfa even though designed by Gugiaro!
You may get a few more bucks for the Q than the SVX but Personally the SVX is not a practical car and I will say that there are many problems with that car awaiting you. 3 transmissions so far on this one among a few other pricey things. So I would say it is fairly reliable but I would have to say just as much as the Q, though needing a little more attention. The 164 will always get more looks, more whoa's, spark more conversation than the SVX anyday of the week even though some do look that over as well due to the strange windows.
But all in all, a house is a much better investment and a place to park any car you decide to keep for as long as you decide to stay there. That is always comforting!
I guess you could buy a Q again but never for the price you sold it and the condition if nice.
SVX you can pick up anywhere, in-fact you can buy my fathers when your done buying your house for a good price and it is in nice condition. Asking like 4-5K for it.
Find a 164Q with good miles and good condition Not sure if you can find it under 7K, some around 10K>

I think the SVX would be a lot easier to find than a Q if you wanted another. I see them all over the place in AZ. No Q's anywhere let alone 164's in general.
So theres my view on that, Buy the house but ditch the SVX.
If you want one again let me know? :)
Good luck in your search and decision!

Ciao!
Jason
 

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Discussion Starter #6
It's a tough call. Buying a house may not need all that much money.
So giving up the Q may be regretful after buying a home.
I say get rid of the SVX. Here is my thinking. You want to buy a home. You may get 5-7K for the SVX depending on a few things. I assume you want a family some day right? No? If so the 164 is a great family car...cough cough!!
I would say in the grand scheme of things the 164Q although not AWD is 20 times more fun to drive than the SVX. I drive my Fathers SVX from time to time all over the place. It is no Alfa even though designed by Gugiaro!
You may get a few more bucks for the Q than the SVX but Personally the SVX is not a practical car and I will say that there are many problems with that car awaiting you. 3 transmissions so far on this one among a few other pricey things. So I would say it is fairly reliable but I would have to say just as much as the Q, though needing a little more attention. The 164 will always get more looks, more whoa's, spark more conversation than the SVX anyday of the week even though some do look that over as well due to the strange windows.
But all in all, a house is a much better investment and a place to park any car you decide to keep for as long as you decide to stay there. That is always comforting!
I guess you could buy a Q again but never for the price you sold it and the condition if nice.
SVX you can pick up anywhere, in-fact you can buy my fathers when your done buying your house for a good price and it is in nice condition. Asking like 4-5K for it.
Find a 164Q with good miles and good condition Not sure if you can find it under 7K, some around 10K>

I think the SVX would be a lot easier to find than a Q if you wanted another. I see them all over the place in AZ. No Q's anywhere let alone 164's in general.
So theres my view on that, Buy the house but ditch the SVX.
If you want one again let me know? :)
Good luck in your search and decision!

Ciao!
Jason
Thanks Jason for your view... actually SVX is the next one to go and I will definitely keep my 93 L as it is 164 and runs gr8 and very very comfortable for long cruising (BTW did I say I am done installing my laptop setup in it with all the goodies, just need to get some more items to complete the whole system that I thought of. You can keep the laptop in car or unplug it and use it for daily purpose). BTW, gonna contact you on the controller trim piece, will do it as soon as I find some time :). No matter I sell it or keep it, will keep upgrading it :p.

-Pavan.
 

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Pavan, what are houses going for up there? I've got to think 600 to 800K these days...
 

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I've got an easy answer for you, keep the Q and DON'T BUY A HOUSE! This is an ideal market to be a renter. Particularly in California, the northeast, Arizona, Nevada and Florida, by historical standards several market fundamentals are way out of wack. In the very best and probably unrealistic scenario home values in these markets will remain stagnant for SEVERAL years. It is much more likely that there will be considerable decreases in values in some or all of these markets and it may take a decade or more for property values to return to current levels.

Forget about the conventional "wisdom" that you are throwing away money as a renter and that a home is a good investment. Right now you are probably saving a thousand or more dollars per month by renting instead of owning. Save some of that money, keep your Q and wait until 2009-10 to buy when we will have a much clearer picture of real estate's future prospects. I believe the median home price in Marin County is in the neighborhood of $1,000,000. The average rent is probably around $2200. Do the math.

Sorry for getting off topic, but I think this is something to strongly consider. I spent the better part of the last ten years working in the mortgage/real estate industry. Values have only dipped slightly, while inventories have swelled, financing has gotten more dificult to obtain, foreclosures and defaults have already started to increase etc. This is not a buyer's market! Most people's "historical perspective" is that real estate always goes up because that's what its done the last several years. If we take a look a little further back, there are unmistakable similarities between where we are right now and where we were in the late 1920s and where Japan was in the 1980s.

Ok, I'll stop. Once again my appologies for ranting off topic. I'd be happy to discuss further if you'd like.
 

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Lol, just came back from Texas beginning of the summer. Move there and buy a house for 1/3 the cost of Cal and save all your cars. Two nieces just bought very nice large houses, one in San Antonio, and one in Plano. Each went for about $140k compared to $500k in Seattle, and I'm quite sure a whole lot more in Cal.

I don't necessarily recommend Texas, but the weather and traffic isn't any worse there than in Cal, and you can drive a lot faster.
 

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Discussion Starter #10
Pavan, what are houses going for up there? I've got to think 600 to 800K these days...
Yeh, it ranges on what kind of house you choose... my sister is looking for a single family 3+bed and 2-1/2+bath with two car garage and they are ranging anywhere from $500k to $800k depending on the condition of the house and location. -Pavan
 

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I've got an easy answer for you, keep the Q and DON'T BUY A HOUSE! This is an ideal market to be a renter. Particularly in California, the northeast, Arizona, Nevada and Florida, by historical standards several market fundamentals are way out of wack. In the very best and probably unrealistic scenario home values in these markets will remain stagnant for SEVERAL years. It is much more likely that there will be considerable decreases in values in some or all of these markets and it may take a decade or more for property values to return to current levels.

Forget about the conventional "wisdom" that you are throwing away money as a renter and that a home is a good investment. Right now you are probably saving a thousand or more dollars per month by renting instead of owning. Save some of that money, keep your Q and wait until 2009-10 to buy when we will have a much clearer picture of real estate's future prospects. I believe the median home price in Marin County is in the neighborhood of $1,000,000. The average rent is probably around $2200. Do the math.

Sorry for getting off topic, but I think this is something to strongly consider. I spent the better part of the last ten years working in the mortgage/real estate industry. Values have only dipped slightly, while inventories have swelled, financing has gotten more dificult to obtain, foreclosures and defaults have already started to increase etc. This is not a buyer's market! Most people's "historical perspective" is that real estate always goes up because that's what its done the last several years. If we take a look a little further back, there are unmistakable similarities between where we are right now and where we were in the late 1920s and where Japan was in the 1980s.

Ok, I'll stop. Once again my appologies for ranting off topic. I'd be happy to discuss further if you'd like.
I agree. Good points.
Jason
 

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Discussion Starter #12
After driving Q back from my carpool parking lot, it makes me feel that I would miss a lot if I sell it, maybe becos it recognised that I am having thoughts of selling it and acted really nice while driving back :p, anyway lets see how it goes...:rolleyes: -Pavan.
 

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While I agree with Afisti2b on many points I do not see Freemont, Hayward, Concord and the like dropping a ton of value/price in the next two to three years. Yes there will be adjustments but that area is where many in the tech industry are buying and living (Google, MySpace, YouTube). Yes in a few years there will be a shake out and it is wise to be cautious but I don't predict those areas dropping hundreds of thousands of dollars in price at all. The area is very desirable and there are quite a few buyers with the income to purchase.
 

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Just my 2C here. I really don't think that the money gained from selling the 164 will make a whole lot of difference in your ability to get a house being a first time homeowner. There are so many incentives out there for first time buyers that really knock down such things as down payments, etc. as long as you have good credit. Here in Ky. I have two very close friends that even though they had money for a down payment there was none needed for the loans they got. If you can swing one of these deals take the extra money you would have saved and pay on the principle after you get the house. That way you are ahead and you keep both the cars. I put a pretty good chunk of change down on my house but looking back now I probably should have kept it in the bank for a rainy day. I also don't think you can find another Alfa as easily as you like to think.call several banks/lenders to find out your options. A bit of research will pay in the long run. Real estate folks can also help but not as much as the lenders.


JMO
I may be wrong because I'm no money master by any means.

Good Luck!
Paul

You may want to consider this part of the country also. It's incredibly cheap to live. You wouldn't believe what you can get for 200k.:D
 

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I'm in the same situation you are, however my decision was a little easier. The M3 is worth a lot more than my 164, and I'm much more tied to the Alfa. Now I've just got figure out how to sell it!
 

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i am with gt601 here, i bought my first home about a year and a half ago, i needed no money down and got a low interest rate 5% now i still needed to shell out money for the home inspection about 250 and money for a couple other things say 700 but it was still alot better than the 20-30K that alot of people i know had to put down all i had to do was go to a class about owning a home and i was glad i did it because it put into perspective the cost of owning a home and helped me to develope a great budget before i moved in, homes are always a better investment than cars and i am often thinking of selling one or two of my cars but i would never get back what i put into them and they are often handy to have to loan a friend when there car is in need of repairs.or when my cars are in need of repairs :D
 

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I agree with the last couple of posts!
As an outsider, something seems strange here with the logic of selling the 164. :eek:
You have a 164 that is worth, what, US$5000?
You are buying a house that is worth, $500,000? That makes the 164 sale enough for a 1% deposit!

Presumably the payments on your house (e.g. over 25 years) will be worth about $1700/month plus interest. That means that the sale of the 164 gets you only a few months, so to speak. It seems a trivial amount of money in the big scheme of things. Surely it is not worth selling...? Maybe I'm missing something here!

That seems amazingly expensive for housing (to us in New Zealand) - relatively-speaking, the 164 is a 'pocket money' car to you. Before I bought a $500,000 house, I'd be buying a Ferrari F40 AND a 360 spider :D Our average house price is about a third of that.

I think Jason raises a great point though: that a house is always going to be a better investment than a car. It sounds like living in Texas is the way to go, then ;)

Please forgive me if I'm stepping on any toes with this rather uninformed post... I'm probably best to stay on the topic of working on the 164!
Cheers,
-Alex
 

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Discussion Starter #18
Hi all, thanks for your replies, actually its not me buyin the house, rather its my sister who is buyin the house. Its good to contribute my part in it as I am staying with them all these years (yes, I pay zero dollars for anything, although I do some work around the house by helpin her) and will continue to stay maybe until I get married, but that wont happen anytime soon.

-Pavan.
 

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The amount of money may be trivial to the big picture but he may need the money to qualify for the loan. A lot of lenders require "reserve" money that is "Seasoned" for X amount of months in an account. They want to know that if you loose your job you will have a number of months reserve to pay your mortgage until you find another. The mortgage business here has and is taking lumps for giving loans to people who would not have qualified only a few years ago and are tightening their standards.

Pavan I just read your last post and to help out with her down payment is very honorable.
 
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