like a fresh 427 for the C5 :ohnoes
prolly more like a 997 911 porsche. or a high performance germ automobile.
We dont buy cars as investments… that’s for sure.
so far ive made money on every car ive ever sold, aslong as you are smart buying and selling cars can be a very easy way to make money.
just cause you make some money on a car doesn’t mean its an investment. Cars are one of the worst ways to spend your money.
I bought my first car for $800 and then sold it a year later for $850… does that mean it’s a good investment? No, I call it luck.
If you netted a profit off of it, yes i would call it an investment. I bought my 2nd mustang for 11,800 with 28K, drove it for 2 years, sold it with 51K on it for 12,900…not luck, a good investment
Yes but that is only an investment if your consider the original purchase price and the final sale price. If you include maintenance and modifications it usually is no longer an asset.
For example 94GT, if you include just oil changes in that mustang you sold. You drove 23,000 miles. Which means if you change your oil every 3000 miles then you changed it 8 times. That equals about $400 in just oil changes. Your $1000 profit just shrank to $600. And im sure you bought other maintenance or modification items, i.e windshield wipers, car freshners, etc. If you add all that up you will most likely not have made a profit large enough to justify.
nah, it’s luck. Finding a great deal on a car and/or finding some boner to pay more then they should is luck, IMO.
well put
No air fresheners or anything gay like that lol, i get my oil and filters for about $10 usually( :ninja thats all i can say) so my profit was still very good, especially for beating it for 2 years and such.
add in the cost of gas and say “buh bye” to your point
No its shopping around and not being impulsive and buying the first overpriced car you see, not luck imo. All the cars ive gotten ive turned a profit on because i look around for good deals. Most cases cars are not a good investment, unless you know what you are looking for, have the time to look around and the money to buy them.
do you buy cars as an investment? yes/no (pick one)
the only thing id consider an investment is restoring a rare barn find. like a matching numbers 70 hemi cuda that you picked up for 1,000 from some old lady who had no idea what it was and had a card board sign that said car in barn. then dropped 40k on a restore, to sell it for 200k… thats an investment.
You cant factor in the cost of gas into the equation, thats just stupid. Money in gas is spent irregardless, its not maintenance to the vehicle, and its what you need to operate it. Gas is in no way part of the profit margin.
Yes I do, but alot of people do not, and i understand this. Like my buddy who finances everything out the ass for wayy too much money, he will never see a profit on his cars, hes probably taken 20K in hits over the last 3-4 years. I like to be a little smarter about things, so if the time comes to sell or i get in a bind i have something worth more than what i paid for it…
It is a wise choice to shop around for a good car. But never ever should the thought of investment cross your mind. The risk factor is to high for it to be an investment. Say for example that something breaks on the car. Most things are expensive enough to outweigh any investment.
Also the national average 2 years ago for every mile driven was about .12 cents. That includes just wear and tear not including gas/oil etc. So in reality, you spent over $2000 in that mustang you bought.
selling a car for more than the original purchase price is a profit regardless how you cut it. value drops. gas, oil,tires things of that nature are wear and use items. if you paid 10,900 for a car anf sell it for 12,000 2 years later thats a profit. because you could have sold it for 8900 or something, including the use of those wear items. is it lucrative, not really, unless you are buying several cars at a time for the intention of flipping them for more, sell 4 cars for a 1400$ profit each in a week, and your making some money now.
just cause you make a very small amount of money on something doesn’t make it an investment. Making money on a car is not the norm and we all know it. There are execptions to everything, this is no different. Saying that cars in general are an investment because you’ve made a few extra bucks yourself is lame.
I had 89 accord as a beater that I had for 2 years. I paid $500 bucks for it. Maybe spent $150 on maintenence while I had it. It got rearended and the insurance company cut me a check for $1450… investment?
I agree with some of that, yes if parts break they can be wicked expensive and totally kill your profit. But the 12cents a mile is an average, i can honestly tell you i did NOT spend 2K on that car, maybe 1000 tops.
Let me put this in laymans terms for you. Lets consider you buy a stock. You are making 7% return on the stock at the current moment. But the downfall is that you have to pay a fee to keep the stock “on the road”. Let’s say that fee is equivalent to 5%. (which would never happen but just for the sake of proving a point) After fee’s, inflation, and taxes are paid for, the amount you made on that stock is pretty much null.
Now apply that same rule to buying a car. You pay a certain “fee” to keep it on the road. If you want to get technical about it we spend exactly .30 per mile to keep our cars going. Guess what guys. For the average person who drives 12K a year, that is $3600 dollars you spent to drive the car.
The only way for you to claim it as an investment would be to buy it a low price and then sell it almost immediatly afterwards without ever have driven it on the road. Then you are buying/selling to make a profit. But to take a car that you have driven for a year or two, sell it for $1k more than what you bought it for and call it an investment is the most childish thing I have EVER heard in my life.