What cars appreciate in value?
- Thread starter Lacasa
- Start date
Peter Spann said:eeewwww... $40 shirt - is that even possible???
I mean, yuck, you've got to be kidding. I am in Monte Carlo and the cheapest shirt I am considering buying is E400 on SALE!!!
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I reckon that is hilarious. My group of friends are all dags, myself included. In fact I think we are competitive to see who can dress down the most. I would only own a few shirts that are over $40, and they would be ones the wife bought. Most of my shirts would be $12 ones from target.
I can wear a flanno and joggers out to the bowlo on a Friday night and no one would even glance. That's because everyone else would be dressed the same. I model my wardrobe on Jerry Sienfeld.
See ya's.
Hey Lizzie - your b-i-l who's car was written off for only missing 2 front seats - it wasnt a Honda Integra Type -R was it??
These are often stolen and the seats removed with the thieves taking little else. This is because they come with superb Recaro race seats as standard. The rarity and cost of replacement once this happens makes them an insurance write off! (Also allowing a keen buyer to pick up a great car at auction simply because it has standard not racey seats)
Anyway...
I currently own a Lexus/Toyota Soarer twin turbo coupe...its my baby..and i love it! but boy has it cost me. Not only have they come down in value by the usual 20 odd % from what i paid 3 years ago, but the maintenace costs (japanese import spares) insurance costs ( japanese import, high performance) and petrol costs (premium unleaded ONLY and it drinks lots!) have certainly cost me. Lets not even get started on the speeding fines, canaries (defects) etc etc, AND the interest paymetns on the loan i have.
Im currently fixing it up getting ready to put it on the market, so i can downgrade to a basic local car, probably a half decent commo or falcon, and cash in the difference to pay out my loan, and fasttrack my investing progress.
One thing i can definately say, is that apart from exceptions like old GTHO's, (which you cant drive if you want it to keep value anyway) ALL cars are a bad investment. If you can afford a nice car, and it isnt a detriment to your overall financial wealth/plans, then go nuts. If not, then buy something cheap, reliable, safe and boring, and expect it to lose value.
Whilst my baby has given me 3 years of fantastic and luxurious driving, fun, adventures and also been a great learning experience on cars in general, if i had my time again i'd have bought something crap and started investing earlier!
These are often stolen and the seats removed with the thieves taking little else. This is because they come with superb Recaro race seats as standard. The rarity and cost of replacement once this happens makes them an insurance write off! (Also allowing a keen buyer to pick up a great car at auction simply because it has standard not racey seats)
Anyway...
I currently own a Lexus/Toyota Soarer twin turbo coupe...its my baby..and i love it! but boy has it cost me. Not only have they come down in value by the usual 20 odd % from what i paid 3 years ago, but the maintenace costs (japanese import spares) insurance costs ( japanese import, high performance) and petrol costs (premium unleaded ONLY and it drinks lots!) have certainly cost me. Lets not even get started on the speeding fines, canaries (defects) etc etc, AND the interest paymetns on the loan i have.
Im currently fixing it up getting ready to put it on the market, so i can downgrade to a basic local car, probably a half decent commo or falcon, and cash in the difference to pay out my loan, and fasttrack my investing progress.
One thing i can definately say, is that apart from exceptions like old GTHO's, (which you cant drive if you want it to keep value anyway) ALL cars are a bad investment. If you can afford a nice car, and it isnt a detriment to your overall financial wealth/plans, then go nuts. If not, then buy something cheap, reliable, safe and boring, and expect it to lose value.
Whilst my baby has given me 3 years of fantastic and luxurious driving, fun, adventures and also been a great learning experience on cars in general, if i had my time again i'd have bought something crap and started investing earlier!
Just quickly on the issue of airbags - in Australian cars, airbags are a secondary safety device designed to supplement seatbelts (as most Australians wear their seatbelts) and are therefore smaller then those fitted to say US cars where they are a primary safety device (because most Americans don't wear their seatbelts). So you could imagine the damage a larger device could do to you if it went off, but then again if it saves your life, then isn't it worth it?
Talking about accident damage to cars and having them written off - I just had a side-on collision with a young lady who didn't know what a red light meant. She drove a Holden ute with the biggest bullbar I have ever seen. I was driving my early model Subaru. Because the impact slightly buckled my roof and hence compromised the passenger cell, it looks like it will be assessed as a write-off (will find out tomorrow). I think anytime taht there is damage to the passenger cell in a vehicle, the insurance company will rule on the side of safety (same thing happened when my brother lost his Mini Cooper down an embankment in the Snowys - passenger cell was damaged, car was written off). It's much easier to refit an airbag then it is to straighten and reinstate the strength of the passenger cell.
Now back on topic - unless you know your classic cars back to front, know the historic value of certain models, can acquire the right model in the right condition at the right price, it's going to be very difficlut to find a car that will either hold or appreciate in value. You would probably be looking at sports or limited edition models. Certain model Porsches, Austin Healeys, Jensens (although I hear a bugger to insure), GT Mustangs, GTOs, the list is endless. But you either need to have a real passion for the marque or know someone who does. But also remember that it's the kilometres on the odometer that is a factor in the vaule of a vehicle. If you use it as a daily driver, it will only decrease the vaule.
If you look at what most wealth "professionals" drive as daily drivers, you will see a miriad of Mercedes, BMWs, Porsches, Audis, etc. But ask yourself this - do they own the vehicle? You will probably find that 95% of them are leased and are therefore a business expense and not regarded as an asset.
Where is all this leading to? I don't know, I just had a brain fart and had to release all this pent up energy. I suppose the crux of it all is that what was originally a very basic question doesn't have a simple answer.
Talking about accident damage to cars and having them written off - I just had a side-on collision with a young lady who didn't know what a red light meant. She drove a Holden ute with the biggest bullbar I have ever seen. I was driving my early model Subaru. Because the impact slightly buckled my roof and hence compromised the passenger cell, it looks like it will be assessed as a write-off (will find out tomorrow). I think anytime taht there is damage to the passenger cell in a vehicle, the insurance company will rule on the side of safety (same thing happened when my brother lost his Mini Cooper down an embankment in the Snowys - passenger cell was damaged, car was written off). It's much easier to refit an airbag then it is to straighten and reinstate the strength of the passenger cell.
Now back on topic - unless you know your classic cars back to front, know the historic value of certain models, can acquire the right model in the right condition at the right price, it's going to be very difficlut to find a car that will either hold or appreciate in value. You would probably be looking at sports or limited edition models. Certain model Porsches, Austin Healeys, Jensens (although I hear a bugger to insure), GT Mustangs, GTOs, the list is endless. But you either need to have a real passion for the marque or know someone who does. But also remember that it's the kilometres on the odometer that is a factor in the vaule of a vehicle. If you use it as a daily driver, it will only decrease the vaule.
If you look at what most wealth "professionals" drive as daily drivers, you will see a miriad of Mercedes, BMWs, Porsches, Audis, etc. But ask yourself this - do they own the vehicle? You will probably find that 95% of them are leased and are therefore a business expense and not regarded as an asset.
Where is all this leading to? I don't know, I just had a brain fart and had to release all this pent up energy. I suppose the crux of it all is that what was originally a very basic question doesn't have a simple answer.
