Lowered Porsche

This is really really sad and tragic. However, I can't believe this:

"figure, i'm single, no kids or wife, so all i need is a car and secured parking...

didn't think i have to get a house already!"

"the insurance company - mercury, initially said that wheels are covered for $100 a piece, until they figured out that the car is over 100k..."

What kind of person would have a car worth over $100k and not have a house/garage for the car?

Not saying that it's right what happened to this guy, but he seems to lack common sense.

If you want to have expensive toys, be prepared to pay to secure them, I say...
 
What kind of person would have a car worth over $100k and not have a house/garage for the car?

In London a single garages cost $150,000+, and a 1 bed room apartment is $500,000+. (in a good area) Apartments can go up to something like $3mil+, and that could have a garage included in the price... I think the price is comparable in Monte Carlo. Thats why you see Porsches and Ferrari's parked on the street.
 
Arshad said:
That really sucks, but I like this line:

"i think my next mod will be a house with a garage...." :D
Yea it is funny :)

It reminds me of my story: I bought a new SUV in 2000, and I was single, no kids, and lived in an apartment. A few weeks after buying the new SUV, some punk kids started going around the complex and vandalizing cars. In fact, the truck that was parked next to my SUV got its windows smashed and its stereo stolen.

The scary thing was that the SUV was parked outside of my apartment, and I never heard any commotion.

The next day I went out and started to look for a house immediately, and ended up buying a new house with a 3 car garage a few weeks later.

It turns out the SUV purchase was not such a good decision - I was travelling a lot and hardly ever drove it. But buying my 4 bedroom / 3 car garage home in California was the single best dam thing I ever did. The appreciation in value of my home was most rewarding.

Moral of the story: invest your money into an appreciating asset (home) first, before you splurge on a depreciating asset. :)
 
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