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we all got a haircut
Posted by PhilV [Email] (more from PhilV) on Tue, 3 Jan 2012 19:10:47
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The way I see it, every Saab (with the exception of FEW collectables) is worth significantly less since Saab declared bankruptcy. Saabs have always had lousy resale value but now that Saab is bankrupt the resale value is going to be really lousy.
If you keep driving your Saab it doesn't matter much - it's worth the same to you as ever - only its paper value dropped. Just like if the price of your house dropped. You still live there, it still provides shelter and the same intrinsic value for you and your family but on paper its worth less. (Unless you are upside down which is beyond the scope of my rant)
But some day you will sell your Saab and it will be worth less at resale than it would have had Saab stayed in business. Or even worse if your Saab gets totaled, the payout from the insurance company will be less than it would have been.
Since the value of old Saabs is in part relative to the value of new Saabs, the value of 9000s and classic 900s needs to go down too. The price of 9-5s and 9-3s has dropped so much that the value of a classic 900 for transportation has to be lower. Don't get me wrong, I love C900s and still have 4 myself. But if you can buy a nice 9-5 for five thousand, how can you justify paying three or four thousand for a classic if you are just using it for transportation?
Now if you are buying a classic as a collector car it's a little different. I can see paying a premium for a Commemorative Edition, SPG or something else collectable within reason. However when I see a SPG with 200K miles that needs work going for $6000 something doesn't make sense. A car with 200K isn't a collector car, it's a car that used to be cool but is now just an old car.
I still like Saabs, I still like driving the old ones but it's never fun to get a haircut.
posted by 98.114.203...
Posts in this Thread:
- we all got a haircut, PhilV, Tue, 3 Jan 2012 19:10:47 <-- Viewing This Message
- c900 value is going up if anything..., James, Wed, 4 Jan 2012 20:39:10
- Re: we all got a haircut, Scott Paterson , Wed, 4 Jan 2012 19:36:39
- Some panic selling, wait it out, nwas, Wed, 4 Jan 2012 16:05:24
- I don't think so., Justin VanAbrahams , Wed, 4 Jan 2012 13:04:29
- The market will adjust for awhile, Noel, Wed, 4 Jan 2012 12:00:18
- Not really... Mine hasn't been worth much for years, mdj, Wed, 4 Jan 2012 10:53:44
- Re: we all got a haircut, Texassaab, Wed, 4 Jan 2012 10:52:48
- Re: we all got a haircut, turbocon86, Wed, 4 Jan 2012 06:15:48
- good wagons are hard to find!, James, Wed, 4 Jan 2012 20:49:33
- Since summer 9-5 sedan-$3K+, wagons usually more *bay., Norm95, Wed, 4 Jan 2012 15:20:54
- Re: we all got a haircut, Dan-O, Wed, 4 Jan 2012 06:24:22
- Re: we all got a haircut -- Never resold a Saab, Dave Chicago, Wed, 4 Jan 2012 06:06:33
- Most of the hair was cut two years ago, Dreadnought, Tue, 3 Jan 2012 19:45:06
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