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[muddypaws]

How much for the car?

[DaBigNuttedMan]

House

[kraut]

question of priorities: house is a neccessity, car is just nice to have.

Those "nice to haves" should be cared for  a f t e r  all neccessities are secured.

Just my 2 cents 

[mark]

Why do people continue to think that having a mortgage is a good thing because you can deduct the interest on your federal tax return?  Simple math will show you that the cash outflows far exceed the benefit you get from the reduction in taxes.  If the reverse were true, we should all go out and finance multiple properties because we would be generating income from all the interest we were paying.  And we would look to refinance as soon as the rates went up, not down. LOL  There are good reasons to have a mortgage, but being able to deduct interest isn't one of them.

It boils down to what you need more, the car or the money.  Since you're thinking of selling, you must need the monthly cash flow.  If you sell the car and pay the house off, you can always get back into another S2000 or something different down the road if things get better, financially.  If it's not a monetary strain to keep the car and make payments on the house, then do it.  You must be close to having it paid off, anyway, if the sale of the car would be enough to pay off the mortgage.

Good luck with your decision.

x2.  Find a mortgage interest calculator on-line and figure out how much your deducting.  If you have a low rate, your not deducting that much any way.  As I thumb through the paper every day and see page after page of foreclosures, I imagine those folks wish they'd focused more on debt reduction than carrying a mortgage.  JM2C.

[Grizzly]

Most likely not the best advise you've received, but what the heck...

Sell the car and buy another bike, now that you're riding so much.

[cvobiker]

If you had a 1970 Chevelle 454 LS6 SS, i'd say keep the car sell the house..



But your S2000 Honda aint gonna cut a fat return so i will have to say.. Sell the Car, keep the house  
 http://www.curryhondamass.com/used/Honda/2007-Honda-S2000-1ac25c920a0d048e0188ebd274677bf6.htm?ddcref=vst-vlp  a

[muddypaws]

I disagree with Mark about the home deduction. I have a 15 year mortgage at 2 7/8%. I make far more on my investments and write of the interest. It's a net profit.

[willyB]

How much for the car?

$21,500 which is less than NADA.

[2k]

Keep the car, unless you gonna lose the house. Sold my '68 Vette for similar reasons & have regretted it ever since

[cvobiker]

Keep the car, unless you gonna lose the house. Sold my '68 Vette for similar reasons & have regretted it ever since

A 68 Vette???  I would've kept that Vette and sold the the house...   Did you have the 427 in this one. 

[Porschestan]

Not a very bright statement, but it's a personal choice.  Do you have other cars to drive in bad weather?, etc.  if so, and your not using it, I personally would sell it.  While it's a great car, and all, it's not quite the "collectors" car of choice, meaning not everyone knows about it.  Compared to a rare Porsche, Corvette, Muscle Car, etc.  While it may not depreciate more,  it may over time not appreciate either.  On the other hand if you can afford it, and love it keep it.  We all own things that don't make financial sense..We just do...

[Unbalanced]

I am with guys .... pay off the house.....it is  no briner

Been giving the sale of a boat the same thought. Just can't make up my mind which boat to sell .....or which house to pay off

Must have fishing on the brain when you typed this or a brian slip .....   

[cvobiker]

Must have fishing on the brain when you typed this or a brian slip .....    

Well,  depends on the guys age...  i had a nice Master Craft back in my late 20's....  That boat was better then owning one of the Cat houses in Nevada    I could see where it would be pretty darn hard to give that up..   Of course the older we get, we quickly realize that best boat to own..??
  
                                                                                                                                                                                  
                                                                                                                                                                                            your friends boat  

                            

[porthole]

I am with guys .... pay off the house.....it is  no briner

Been giving the sale of a boat the same thought. Just can't make up my mind which boat to sell .....or which house to pay off

Stand on that busy corner down the road with a coffee can - someone will feel sorry for you.


Oh - I almost forgot - wear the Merc shirt 


Lets go fishing!

[cvobiker]

OK.   So what did you do. ??  House or car.