Carrera Coupe - Invest or run?
02-07-2006, 10:08 AM
#16
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Join Date: Jan 2006
Location: Gig Harbor, WA
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I'm with "my87targa" but I guess it depends also on your long range plans. Do you want to have the car 20 years from now? If you fix the one you have now and do it right, you at least know what you have and can move on to something else. (There is alot of difference between a fresh-newly rebuilt motor with 0 miles on it and one that may be in good condition but still has 75k on the clock) A project car, especially a 911, is alot of fun.
02-07-2006, 12:56 PM
#17
Originally Posted by Jay H
pcar964, you make a good point that it could be financially beneficial for Rick to dump the car and then buy a better example. Restoring these relatively new cars never gets you ahead of the game.
However, we don't know Rick's situation though or the current condition of his car. He could end up spending only $5000 to get the car in very nice shape and have $23,500 in it total. Not too out of line for a solid car that you can trust.
Finding a low mileage, mint '88 Carrera for $20k might be hard to do, depending on the market that the buyer is in. All these cars need something, so if you spend $20k to $25k on a mint example, there is probably always something to dump $1000 or two on, even on a mint car. Also, nice cars are hard to find and it takes time to find them.
Just some counter point for discussion, no flaming intended.
I had an '86 that was in good condition mechanically, but in average condition cosmetically. I wanted to concours that car but it was too rough in it's present state. I could have repainted it for $5000 to $8000 and had it perfect, but then I would have had a lot of money tied up in an old car with a lot of miles on it... I ended up dumping it for cheap and buying a much nicer, lower mileage 911 that I could show. I was money ahead on that deal since my current car's investment is closer in value to it's resale value. My '86 would have caused me to have $30k in a high mileage car that would still have been worth only $15-$17k. However, every situation is different.
Jay
90 964
However, we don't know Rick's situation though or the current condition of his car. He could end up spending only $5000 to get the car in very nice shape and have $23,500 in it total. Not too out of line for a solid car that you can trust.
Finding a low mileage, mint '88 Carrera for $20k might be hard to do, depending on the market that the buyer is in. All these cars need something, so if you spend $20k to $25k on a mint example, there is probably always something to dump $1000 or two on, even on a mint car. Also, nice cars are hard to find and it takes time to find them.
Just some counter point for discussion, no flaming intended.
I had an '86 that was in good condition mechanically, but in average condition cosmetically. I wanted to concours that car but it was too rough in it's present state. I could have repainted it for $5000 to $8000 and had it perfect, but then I would have had a lot of money tied up in an old car with a lot of miles on it... I ended up dumping it for cheap and buying a much nicer, lower mileage 911 that I could show. I was money ahead on that deal since my current car's investment is closer in value to it's resale value. My '86 would have caused me to have $30k in a high mileage car that would still have been worth only $15-$17k. However, every situation is different.
Jay
90 964
Actually I think you're right, perhaps I spoke too soon - I haven't kept tabs on the 3.2 Carrera market, it's much stronger than I remember! Looks like $20k will get you a decent car, but not a great car. Wow, I should have invested in some Carreras a couple years ago!