What vehicle do you drive?

lurkingdirk said:

I understand what you're saying, but cars are a poor investment. It's pretty rare that if you buy a performance vehicle it will appreciate in five years. Depreciation is the name of the game with most cars.

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When you are talking about particular cars, and you were (you quoted the stupid expensive Porsche) it is not a poor investment. As Mizake said, it is a way to diversify your portfolio with hard assists. Most cars, even shitty Pinto like hatchbacks have a curve were they stop depreciating and start appreciating if they survive long enough (the rate of appreciation will vary widely).

There is a level, in the classic or collectable vehicle market where you can get a rather large and less risky return than many "safe" investment banks offer. While these types of cars are a very small percent of the vehicles available, it's not like they are super rare.

An average (middle class) person could find an appreciating vehicle for less than $100,000, but they would also need the knowledge of how to properly keep it, to maximize profits. There are special insurance plans/companies that will cover these types of cars for a low premium, if you keep the miles driven under their requirement (low miles per year). Most people then over insure the vehicle, so even if they wreak it, they make money.

P.S. Performance cars generally depreciate less (unless it's a BMW), and start appreciating sooner than other vehicles, in part due to the fact that less of them are produced per year.

Foler said:

One of the few things you are correct about dirk. Anyone who considers cars and investment is a complete IDIOT. You have to get into real niche things like Tiffany lamps to bump those profits.

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No, cars can be an investment, its just that most are not. There is mega money in classic European racing cars and sports cars. The point of entry is very high, but the return can be as well. Making a blanket statement about none of them being investments is ridiculous.

What a simple world Foler must live in. Oh to have that naive little mind...

lurkingdirk said:

I understand what you're saying, but cars are a poor investment. It's pretty rare that if you buy a performance vehicle it will appreciate in five years. Depreciation is the name of the game with most cars.

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New cars are poor investments. Most cars are poor investments.

Investment grade cars, if you know the market, are solid investments. Which is why all these old Ferraris and such go for 7 to 8 digits. Look at the high end car market, cars that cost over $500,000. Look at how much those cars have appreciated over the past 10 years.

It's like art. People who buy art for $10,000 are just throwing their money away unless it's honestly because they just like the art. Those pieces won't gain in value. The real investments are in the million dollar pieces.

And if you think I'm wrong, then just look at the fact rich people are spending millions of dollars on these cars and art. Are they all just stupid with their money, or maybe they are rich because they actually know how to move their money around?

Also, the fact Foler thinks cars are poor investments is all you need to know that he doesn't own a Pista, or any car over $50,000 for that matter. Not that any of us actually believed it in the first place.

Keep dreaming big, little man.

I guess I should qualify my statement. No car that I ever buy is going to be a positive gain asset. I'm never going to spend six digits on a vehicle, and I'm not jazzed about collecting rare or performance cars. So whatever I buy is going to depreciate immediately.

Now, to some of the other comments, in May I bought a brand new Ford Ranger. It was almost $8k cheaper than all the used vehicles I was finding. I'm told this is just because of the vehicle shortage right now, and it will sort itself out soon. Whatever. I bought a brand new vehicle for the first time in my life because it was cheaper than used ones.

Mizake said:

View attachment 395283
Keep dreaming big, little man.

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INB4 poors drive 430 Spyders not Pistas!

Mizake said:

New cars are poor investments. Most cars are poor investments.

Investment grade cars, if you know the market, are solid investments. Which is why all these old Ferraris and such go for 7 to 8 digits. Look at the high end car market, cars that cost over $500,000. Look at how much those cars have appreciated over the past 10 years.

It's like art. People who buy art for $10,000 are just throwing their money away unless it's honestly because they just like the art. Those pieces won't gain in value. The real investments are in the million dollar pieces.

And if you think I'm wrong, then just look at the fact rich people are spending millions of dollars on these cars and art. Are they all just stupid with their money, or maybe they are rich because they actually know how to move their money around?

Also, the fact Foler thinks cars are poor investments is all you need to know that he doesn't own a Pista, or any car over $50,000 for that matter. Not that any of us actually believed it in the first place.

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The whole car market is nuts right now.

Sorted 328's bringing solid cash. 360-430-458 also solid increases in just a few years....for prime examples only to be sure. If you told me 3 years ago that a low miles no stories 430 Spider could bag $325k I would have had you thrown in the looney bin.

For sure not huge increases overall, but enough to take notice.

911 market is off the hinges right now.

Special edition Ferrari also off the charts. Pista, too..... bringing WAY more cash than original transaction.

I had a DD quality used 550. Bought at $140, sold at $140. Today...worth...$140.

Mizake said:

View attachment 395283
Keep dreaming big, little man.

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Love your style, man.

Foler said:

Lmao GT3s are for people who can’t afford to own a real super car. Also no watch on that wrist? Pathetic.

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You are a sad little man.