Cars as Investments

Heh heh, even Mr. Garrett qualifies his "investing" by saying "...*if* I make a profit..."



My last post on this thread was about 2.5 years ago, and the stocks I bought up then were a lot better investments than any cars I coulda bought.



That RX-7 I had at the time sold, but it was no big money-maker, nothing at all like what I expect from my real investments (which don't need a climate-controlled garage, or insurance, or ongoing maintenance either).



I still think that people who talk about "investing" in cars are generally just rationalizing ownership of cars they want to have.



Yeah, sure, there are exceptions, but I'm convinced that they're few and far between.



Hey, I'm not being all :nono I mean, I've "accumulated" scads of cars over the years (and learned that I'm happier when I only have around six or so). But I wasn't investing, I was just pursuing a hobby.
 
As someone that's purchased more cars than years I've been on this planet, I can say its a fun hobby, but you'd have to be very careful to make it a business. I've done quite well with the cars I've bought and sold, but storage costs, the man (taxes) and insurance will eat away at your profit. The thing about classic car values is they are always inflated. You look at book prices and then what the cars fetch at auction, there is a big difference. You can certainly do ok being an opportunistic buyer and seller. If you hold out for a good deal, enjoy the car for a while and then find a sucker willing to pay near book, you will do ok for yourself, at least you get to enjoy the car and maybe make a buck or two.



As far as business ventures, there are a lot better ones. Property is CHEAP now, look at anyone that has really gotten rich from nothing, quite a few are real estate moguls.
 
Before buying a second hand car, you should make sure that the car is in good working condition and it doesn’t have any damage inside or outside. And It gives good mileage too. You Should demand for road tax receipt from the previous owner. If the car has been modified to run on two of types fuel, then you should ask the dual fuel certification.
 
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