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Re: What would you do? Posted by Ari [Email]  (#2847) [Profile/Gallery]
(more from Ari) on Tue, 7 Mar 2006 09:25:54
In Reply to: What would you do?, 94cs, Tue, 7 Mar 2006 09:09:29 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Cars aren't an investment - they consume money. But that's OK - we use them; drive them. It's the cost of keeping them running.
The real question is what do you need in terms of transportation, and can afford as carrying costs. If you sell the CS, are you going to buy another car to replace it? If so, will it be used or new? If used, how old? I ask, because if you get an older used car and get rid of your CS, you'll be trading a set of known problems for a set of unknown ones.
Most older cars are not worth as much in cash as they are to the owner in use. Yes, you could sell the CS for $500. But how useful is it? How useful would it be to have a spare car, or the Home Depot/beater car? Probably more than $500 worth. Especially a car with a known maintenance history. The real issue is carrying costs - license, registration, taxes, insurance, space. Do you have the space for it? Will the neighbors complain?
As an example, I have a '92 9000 N/A. Owned it since new. 70K miles, a total creampuff. If it got hit by a truck next week, I'd get maybe $2K for it in insurance. Since it's so pretty, I could probably sell it for $3.5K to someone wanting a safe car for his daughter to go to college in. But it's worth a lot more than that to me. Now, if the autobox died tomorrow, I'd have to spend $3K to replace it, and the car wouldn't be worth more than the $3.5K (at best) I could get for it before it died. But I'd do it - not because it's an investment,but because I want to keep a car with a known maintenance history, one I know I can count on.
So don't think of the car as a CD or a stock. Think of it as a tool than requires maintenance. And ask yourself what you want your 'end state' to be in vehicles. What cars do you want on hand? And after that decide if the CS fits in.
posted by 65.19.226...
, Tue, 7 Mar 2006 09:25:54 <-- Viewing This Message
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