Unkle

When is a car you really want, an investment, and how do you have both?

I recently saw a discussion on another forum about a person thinking of purchasing a BMW CSL as an investment and wondered if it was a good one. I couldn’t get me head around the idea of a car that you very much want to drive being something that you shouldn’t drive so it keeps its residual value.

An extreme example of this is in a magazine I have that has a fantastic 964 C4 lightweight that a UK person owns with only 19 miles!! Clearly its an exclusive car (40 built), more so than the standard RS or RS touring. It is so exclusive Porsche borrowed it for the Porsche museum. But how could you ever drive something like that or do track days?

And this brings me onto the real world of the RS, I love the concept of the RS and think it is very much a classic, but kind of wonder whether I could ever own one. I know they are steadily getting close to my house price so this is all fantasy, but even if you could own an investment like the RS, would you? Or would you want to drive it so much the value would be lost for ever compared to other RS cars?

A nice dilema to have, but i think its a car that is getting beyond use. Am i wrong?

KaiB

I've justified my two Martin guitars as investments.

Not the 964 RSA...

LastMezger

-When it appreciates (or perhaps that's just a successful investment)
-When it's not being purchased for transportation or enjoyment
-When you are not emotionally attached to it and can liquidate it
-When it can actually be liquidated in a reasonable amount of time

I have trouble seeing the argument for cars as investments given the added costs of maintenance, insurance, repairs, storage...relative to other investment "vehicles" ;-)

tbennett017

It all depends on how you define "investment". I think only the rarest cars can meet the narrow definition, but it's got to be a Gullwing or some kind of freakshow trailer queen.

If you want to drive your car, I wouldn't attempt making the narrow definition at all. Loosely speaking cars can make a lot of sense to own though... My father bought a new 911 in 1969, for approximately $6500. He sold it 6 years later for $7100... which means his daily driver had a very low cost (just maintenance/Insurance)

I should hope my 964 would do the same... but it's been too much fun to buy it parts as a hobby...

Just my $.02

John Boggiano

When you want to buy one and you are talking to your wife about it. :-)

VintageRacer

I think it is rare when someone actually has a real positive return from a car.

You also have to consider the lost "opportunity cost" in the purchase. In GA, you also have taxes.

Makmov

never

August West

If I'm able to drive my C4 for the rest of my life and reap the considerable "smiles per miles" dividends every time I take her out, then I consider her a great investment. Those guys who buy Porsches and immediately mothball them are missing the point...cars are meant to be driven, even if it's a Ferrari GTO.

CWhaley

Unless it has history... Never!

Henry964

I think it depends on the market, in my country there are very few 964s and 993s so a very good 993 sells for 100K U$S ( a few years ago they were at 70-75k U$S) and a very good 964 will go for around 60-70K U$S (I bought mine 4 years ago at 40kU$S)
Importing used cars is forbidden here so is very difficult or near impossible to get an old Porsche here. You will have to demostrate that you have lived overseas for more than 2 years and then bribe the customs so that the paper work doesn´t last 1 year or more and pray that your car is not dismantled while you wait

yumyum1667

Right on. Had I bought tons of Rickenbaker guitars 10 years ago instead of investing in the stock market I would have doubled my $$$.

parsecnc4

+1

TNR911

Never ... I've never seen a hearse with a luggage rack. Enjoy !!!

Brian 96C2

I think it depends on your perspective.

I bought my RS back in '03 when the values were much lower but it was still an expensive early 911 then. I have never been a 'collector' but instead an enthusiast, especially for classic european sports cars. I settled on Porsche sports cars because of the numerous factors that we all know and when I discovered the history of the company and the cars they produced I went about finding a great example of one of their most noteable 911s. I really had no idea at all that values would climb so dramatically.

I was fortunate enough to find a nice one just a few hours drive from where I live. Once I bought it I was also fortunate enough to find out about it's history and was even able to contact the original owner as well as the person who took it down to New Zealand from Switzerland where it was sold new.

So the most fun for me has been the historical journey as well as the sheer pleasure of driving it now. I do though have a bit of anxiety when driving it. I certainly don't want to be the owner who wrecks this RS. That is why I have a couple of other 911s, especially the C4. The 964 is basically a fun car that I can take out for some spirited driving on the road and track (more of that to come) and not 'wring my hands' in angst about a possible mishap.

Makmov

So you didn't buy it as an investment.

That's the point, there never is any car you should buy as an investment.

There is far too much liability, change in the markets, and values to make a car a viable investment.

Best case it just sometimes works out that way, but never go into buying a car thinking, I am going to make a killing.... that's just stupidity.