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To buy a car or real estate - which ought to come first?
Rank: New-farer Joined: 3/12/2011 Posts: 13 Location: Spring Valley, Nairobi
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Which would rather buy first? www.giantquicksales.com is bringing professionalism and value to car and real estate dealership.
Speed, Trust and Informativeness are our primary selling points. visit us today and sample some of our services!
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Rank: Veteran Joined: 12/23/2010 Posts: 1,229
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www.giantquicksales.com wrote:Which would rather buy first? Did land first. Have never regretted it.
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Rank: New-farer Joined: 2/16/2010 Posts: 92 Location: Nairobi
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I'm looking at real estate first......the car will be one of the rewards from that investment. Entrepreneurship is a cognitive bias. They can’t teach it to you.
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Rank: Member Joined: 9/29/2010 Posts: 216 Location: Kenia
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Simply a chicken or egg story? I bought a car wit the very first loan I took. My subsequent loans have been for land. I think the sequence does not matter...
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Rank: Elder Joined: 2/7/2007 Posts: 11,935 Location: Nairobi
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sihingwa wrote:Simply a chicken or egg story? I bought a car wit the very first loan I took. My subsequent loans have been for land. I think the sequence does not matter... What do you mean?....A car is a liability and not an asset.....land is.....You don't believe?.Put a cart before a donkey and ask it to push! Nothing great was ever achieved without enthusiasm.
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Rank: Member Joined: 9/29/2010 Posts: 216 Location: Kenia
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Njung'e wrote:sihingwa wrote:Simply a chicken or egg story? I bought a car wit the very first loan I took. My subsequent loans have been for land. I think the sequence does not matter... What do you mean?....A car is a liability and not an asset.....land is.....You don't believe?.Put a cart before a donkey and ask it to push! Depends on whether the car is used to facilitate my business / work (a tool) or used for leisure (expenditure)
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Rank: Veteran Joined: 12/23/2010 Posts: 1,229
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sihingwa wrote:Njung'e wrote:sihingwa wrote:Simply a chicken or egg story? I bought a car wit the very first loan I took. My subsequent loans have been for land. I think the sequence does not matter... What do you mean?....A car is a liability and not an asset.....land is.....You don't believe?.Put a cart before a donkey and ask it to push! Depends on whether the car is used to facilitate my business / work (a tool) or used for leisure (expenditure) Taxi? car hire? or what dyou transport in your car? As pointed out, land appreciates. Your car depreciates in value. Sequence does matter. A car loan is funny (being polite here) in the sense that you pay based on the value of the car at the time you're taking the loan. By the time you're done paying off that loan, the car has seriously depreciated (irrespective of what use u put it to). Land on the other hand will have appreciated in value at the end of the loan period. I would rather take out a loan for land, than for a car.
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Rank: Veteran Joined: 12/8/2009 Posts: 975 Location: Nairobi
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For Sport wrote:sihingwa wrote:Njung'e wrote:sihingwa wrote:Simply a chicken or egg story? I bought a car wit the very first loan I took. My subsequent loans have been for land. I think the sequence does not matter... What do you mean?....A car is a liability and not an asset.....land is.....You don't believe?.Put a cart before a donkey and ask it to push! Depends on whether the car is used to facilitate my business / work (a tool) or used for leisure (expenditure) Taxi? car hire? or what dyou transport in your car? As pointed out, land appreciates. Your car depreciates in value. Sequence does matter. A car loan is funny (being polite here) in the sense that you pay based on the value of the car at the time you're taking the loan. By the time you're done paying off that loan, the car has seriously depreciated (irrespective of what use u put it to). Land on the other hand will have appreciated in value at the end of the loan period. I would rather take out a loan for land, than for a car. @all Economic sense dictates that you start with land as it will appreciate. However any can do! In any case depending on how much loan one can take, they can do both at the same time. Its simply as stated by Sihingwa - chicken and egg story allover. This would be different if we assume that the intial loan is the only money you will ever handle in your life and that you life depends on it. In this case forget about the car. You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
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Rank: Elder Joined: 5/24/2007 Posts: 1,805
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Mimi najipenda. The love of self drove me to get a car first!!!One time I used to live in a very funny place. Once it rained heavily then then the mat shukishad me outside the estate gate. Kumbe the stupid watchman had fungad and I had to use a gate on the opposite side. Nilitembea na mvua.... when I got there, believe you me the gate was flooded na pia imfungwa. We had to climb over the gate then splash into four feet of water. Hapo na hapo, niliamua kujipenda and kujinunulia gari. That was a very stupid decision anyway but I love my peace of mind. I Think Therefore I Am
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Rank: Veteran Joined: 12/23/2010 Posts: 1,229
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@ XSK...only that the more loan, the more interest one pays.
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Rank: Elder Joined: 2/7/2007 Posts: 11,935 Location: Nairobi
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"Tiiri ndurotaga".....literally said,land does not rust. Nothing great was ever achieved without enthusiasm.
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Rank: Member Joined: 8/5/2010 Posts: 335 Location: Nairobi
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One is not a substitute for the other... I'd just buy the one I need at that time... they are not interchangeable... If I have the money and cannot decide which to buy then I don't have a PLAN. That's my biggest problem right there. Better question, Subaru Outback versus E200? "I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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Rank: Member Joined: 4/18/2009 Posts: 118
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@giantquicksales, what is your objective? If it is instant gratification and ability to impress friends/chicks go ahead and buy the car.
If the vehicle is meant for business even better.
But, if you are looking at a better future in the long run, you need not ask this question.
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Rank: Member Joined: 2/27/2011 Posts: 518
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Funny thing is that both choices are equally appealing when done the first time. The thrill is intoxicating. Get your first car and after some time you start looking at meaner looking cars and saving to upgrade or trade-in  . If your first major investment is land then you get addicted after seeing that it really isn't hard to acquire land. You tend to get more and more 
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Rank: Elder Joined: 8/10/2010 Posts: 2,264
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bwenyenye wrote:Mimi najipenda. The love of self drove me to get a car first!!!One time I used to live in a very funny place. Once it rained heavily then then the mat shukishad me outside the estate gate. Kumbe the stupid watchman had fungad and I had to use a gate on the opposite side. Nilitembea na mvua.... when I got there, believe you me the gate was flooded na pia imfungwa. We had to climb over the gate then splash into four feet of water. Hapo na hapo, niliamua kujipenda and kujinunulia gari. That was a very stupid decision anyway but I love my peace of mind. your health and confidence must be your first priority. if a car improves your productivity then go for it first. Politics is just things to keep the people divided and foolish and put your trust in men and none of them can do nothing for you...
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Rank: Member Joined: 9/29/2010 Posts: 216 Location: Kenia
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My choice of car first - land later was rather out of 'anger' almost like Bwenyenye. I had graduated in 2001 and it was not until 2003 that I got a 'proper' job, after toiling in factories without contract. I used to tarmack and could walk from Upperhill to Panari dropping CVs.
On the day of my interview for the 'proper' job, my fare was not enough and had to foot from city centre to Waiyaki way...I was all sweat by the time I arrived at the interview venue. Had a quick dash to the gents to sponge myself with a handkerchief. My shoes and trouser were dusty and the receptionist was poking fun at me, but thank God the guard helped me with a brush & polish (he is one of my best friends to date). The guard encouraged me that God is with his people, well...the job was mine.
Six months down the line, took a bank loan to buy a car and vowed never to be on legedez benz! Growing older has made me seen the need of taking other loans to buy land and begin construction of some rental units...the 'proper' job is not mine forever, and again I promised myself never to be footing about!
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Rank: Elder Joined: 10/1/2009 Posts: 2,436
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Buying a car may prevent u from buying the real estate (lost opportunity,prices will hv escalated) but buying real estate can't prevent you from buying a car
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Rank: Member Joined: 4/17/2009 Posts: 194
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Folks, let a guy be. If it is a vehicle a guy wants that's what he will go for whatever you say. In any case, it feels a lot better!
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Rank: Veteran Joined: 12/23/2010 Posts: 1,229
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Iborian wrote:Folks, let a guy be. If it is a vehicle a guy wants that's what he will go for whatever you say. In any case, it feels a lot better! Instant gratification.
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Rank: Hello Joined: 4/5/2011 Posts: 1
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buying the car can give you mobility to penya various locations to land some good real estate deal-happened to me. You live once..enjoy!
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To buy a car or real estate - which ought to come first?
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