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If you had less than $20K to buy a car as an investment, what would you buy?
Posted on 4/25/16 at 10:19 pm
Posted on 4/25/16 at 10:19 pm
Anybody ever buy a cool car, enjoy it for a while, then sell it and make a little money? I wish I had a lot of cash when the market crashed in 2008. I saw several Ford GT's listed from $135K to $150K. I knew those cars wouldn't stay that low priced long, but I had no where near enough money to make such a purchase. One can dream though.
Four years ago I did buy a 1980 Porsche 911 Targa for $17K that had 88,000 miles on it. I imagine it has gone up in value at least $7K since then.
Cars probably aren't the type of investment you would normally consider. Just for fun though, if you had $20K or less to buy a car to hold for 5 years before selling it at a profit, what would you buy?
Four years ago I did buy a 1980 Porsche 911 Targa for $17K that had 88,000 miles on it. I imagine it has gone up in value at least $7K since then.
Cars probably aren't the type of investment you would normally consider. Just for fun though, if you had $20K or less to buy a car to hold for 5 years before selling it at a profit, what would you buy?
12
Posted on 4/25/16 at 10:28 pm to Ramblin Wreck
I'd probably just scour Craigslist for cars people are just dumping because they don't want them any more for $1,000 or less. Hell, you can probably get them for $500.
Make/Model doesn't matter.
Fix whatever the problem is and sell them.
Make/Model doesn't matter.
Fix whatever the problem is and sell them.
This post was edited on 4/25/16 at 10:29 pm
Posted on 4/25/16 at 10:32 pm to Ramblin Wreck
Not necessarily an investment, but these are some cool old cars that are at the bottom of their depreciation curve:
E39 M5.
'93ish Mercedes 500E (the one Porsche built).
J60 Land cruiser, or a clean 80 or 100 series.
BMW Z3 Coupe or M Coupe - the clown shoe.
Mercedes R129 SL - I would kill for a clean one of these with the AMG wheels.
Range Rover Classic - people are starting to restore these now.
Or just a good Jeep CJ - never seen the market drop (literally never, I've been looking since I was 15) for a good one.
That said: cool car prices - especially 911s - have gotten insane. Forget about a decent 964 for under $40k. Ferrari 308's that were $30k four years ago have doubled. My dream of a 575M has now vanished.
E39 M5.
'93ish Mercedes 500E (the one Porsche built).
J60 Land cruiser, or a clean 80 or 100 series.
BMW Z3 Coupe or M Coupe - the clown shoe.
Mercedes R129 SL - I would kill for a clean one of these with the AMG wheels.
Range Rover Classic - people are starting to restore these now.
Or just a good Jeep CJ - never seen the market drop (literally never, I've been looking since I was 15) for a good one.
That said: cool car prices - especially 911s - have gotten insane. Forget about a decent 964 for under $40k. Ferrari 308's that were $30k four years ago have doubled. My dream of a 575M has now vanished.
This post was edited on 4/25/16 at 10:35 pm
Posted on 4/25/16 at 10:45 pm to GaryMyMan
quote:
Ferrari 308's that were $30k four years ago have doubled
I don't really like the way they look, but you can still get a Ferrari Mondial for around $30K. You are right about the 308's, a few years ago they were available for $30K.
Posted on 4/25/16 at 10:49 pm to Ramblin Wreck
Do you even Ferrari Testarossa, bro?
Posted on 4/25/16 at 10:51 pm to Ramblin Wreck
If that Porsche sat for a while that's not good.
Posted on 4/25/16 at 11:01 pm to dkreller
quote:
If that Porsche sat for a while that's not good
I would have doubted the mileage, but the tires pretty much confirmed it. I decided they looked a bit old so I took it to two places after I bought it to shop for prices. Both tire dealers were amazed and pointed out the serial numbers on the tires indicated they were manufactured in 1990. The car actually runs great. Always starts on the first try. The down side is the AC system is shot, so I limit my driving in the summer.
Posted on 4/26/16 at 5:08 am to GaryMyMan
Agree about E39 M5 and would probably vote for the E60 M5 as well (that v10 should be sought after in the future). Clownshoes (the S54 in particular) are not at the bottom of any curve. Demand (prices) for those are already high.
Posted on 4/26/16 at 7:45 am to Ramblin Wreck
FJ40, FJ60, or Ford Bronco. All of those are appreciating pretty nice; and they are all beautiful vehicles.
Posted on 4/26/16 at 9:53 am to Ramblin Wreck
E36 M3 is probably the best for under $20k, especially the 3/4/5s. E46s are prob next BMW. E39 are already high. 2011 m3 sedans are still high, but a good bet.
The R129 is prob the next best bet, but they are climbing past $20k. They are excellent cars. The 600s may be a better long term play, but the upkeep to me isn't worth it.
I could talk about this topic forever. Let's keep it going!!
The R129 is prob the next best bet, but they are climbing past $20k. They are excellent cars. The 600s may be a better long term play, but the upkeep to me isn't worth it.
I could talk about this topic forever. Let's keep it going!!
Posted on 4/26/16 at 9:59 am to Ramblin Wreck
The porsche market is interesting too. I don't know much about the gt cars, but I know they are increasing. But the big wildcards in the 911 world are the SCs and the 996 Turbos. The SCs are easy to find in the $30k range for a sorted driver which is a fraction for other air cooled porsches. The 996 turbo is a ton of car. The aftermarket has addressed the ims issues. For $40k, you get a monster.
Posted on 4/26/16 at 10:10 am to Ramblin Wreck
Pre war cars seem to do well, certain Muscle cars as well. The 60's Mustangs shot up a lot in the last 15 years.
Some 90's cars do well too. Supras and such.
Some 90's cars do well too. Supras and such.
Posted on 4/26/16 at 10:17 am to Ramblin Wreck
Ferraris will always be high because of the name, but the 308/328/348 are really poor performing. The 355s are prob the best investment with a reasonable entry point.
F40 and 288s will be at the top of the pile for post 1970 cars if you have a $1m+ to park in a car.
F40 and 288s will be at the top of the pile for post 1970 cars if you have a $1m+ to park in a car.
Posted on 4/26/16 at 10:22 am to Napoleon
quote:
Some 90's cars do well too. Supras and such.
Supras, NSXs, RX7s and early ZR1s are good plays in the $50k-$80k range for sure. There are a lot of them out there, but a stock one is a unicorn and will be a good value.
Posted on 4/26/16 at 10:30 am to Ramblin Wreck
The opposite end of the spectrum I think are the Defender 90s. Their values have been propped up over the last decade due to the 25yr gray market rule. As clean models from Europe hit the US market, expect the prices to drop.
Posted on 4/26/16 at 10:30 am to Ramblin Wreck
1980s Porsche Carerra
Posted on 4/26/16 at 11:02 am to pjab
quote:
The opposite end of the spectrum I think are the Defender 90s. Their values have been propped up over the last decade due to the 25yr gray market rule. As clean models from Europe hit the US market, expect the prices to drop.
I am licking my chops to get a reasonable - and somewhat modern - Defender 110 in a few years. The North American version (400 or so made) are hitting ~$100k these days. Insanity for a farm truck.
SUV's and sports cars are always going to be relatively hot. That's why I started by suggesting sedans. There are a ton of crazy 90's & early 00's sedans that will be relatively cheap to drive around the next few years. You can find an S65 that was $200k a decade ago for 1/10 of that price. As long as you can do some maintenance yourself, you've got a big comfortable 600HP rocket for little money. This guy loves W220's and does his best to rehabilitate their reputation for unreliability.
This post was edited on 4/26/16 at 11:10 am
Posted on 4/26/16 at 11:16 am to GaryMyMan
Rover Trucks for the Martha's Vineyard Crowd
This place usually has some of the best ones on the market. The prices are high, but what else are you going to park in one of the garages of your $10m summer home.
This place usually has some of the best ones on the market. The prices are high, but what else are you going to park in one of the garages of your $10m summer home.
This post was edited on 4/26/16 at 11:18 am
Posted on 4/26/16 at 11:30 am to GaryMyMan
quote:
S65 that was $200k a decade ago for 1/10 of that price
I get the allure. If you can stomach the repair bills when they come, it's a hell of a deal. My friend drove an S55 as a private driver car in the months leading up to Uber launch in NOLA. He paid $20k and said there were many to choose from in the Dallas market. The torque just casually rolling off the line was addictive. Can't imagine a S65. It's probobaly a better buy than leasing a new 3 series.
Posted on 4/26/16 at 12:14 pm to pjab
E30 M3. Rare, unique, simple. Z32 Turbo, but you can get one for much less than 20k.
There are a lot of importers/dealers popping up now that bring in 25+ year old Japanese cars and complete the paperwork for you.
They regularly sell exclusive to the Japanese market versions of U.S. cars for less than you can find them domestically (at least in similar condition). Many of them will also find/purchase/import cars for you. I would go that route, if it were my money.
There are a lot of importers/dealers popping up now that bring in 25+ year old Japanese cars and complete the paperwork for you.
They regularly sell exclusive to the Japanese market versions of U.S. cars for less than you can find them domestically (at least in similar condition). Many of them will also find/purchase/import cars for you. I would go that route, if it were my money.
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