Spare $60k: what would you buy as a fun car and possible investment?
#31
+1 I have never understood the rationale to buy cars for investment purposes. I buy all my cars to DRIVE. In my mind, I view them as depreciating assets. However, if I happen to own car/s that do appreciate or hold their value then I consider myself lucky and it's just whipped cream on top of the sundae. Sunk carrying costs such as insurance, registration, and/or storage can add up and then of course you have time value of money and opportunity costs of other investments. But what do I know, I'm just a lowly bean counter and a Porsche semi-newbie.
The last two cars I've purchased were bought on the premise that they were not long term keepers as I am a US expat living in the UK. That being said, a stipulation for me was a car that I was not going to lose my *** on (ie, something like a new M3 again).
I purchased a 2003 M3 CSL when I moved to Scotland in May of 2013 and at the time it had 63k miles on it (a driver, not a collector). During my ownership I had to put about £4k into the car including a big brake kit because the stock brakes were terrible. I sold the car with 79.5k miles in December 2014 for the price I originally paid. Therefore, roughly 20 months of ownership and 16.5k miles cost me £4k. The GT3 is an ongoing experiment, so we'll see where that ends up.
If everything goes to plan, I'll pick up a 7.2 GT3 (RS if the stars align, but not holding my breath) when I get relocated back to Texas and hold on to it long term. In the meantime, I am stocking up on clubsport parts.
Last edited by JuanCarpantier; 07-08-2015 at 08:02 AM.
#32
Rennlist Member
^^ nothing wrong with buying cars that cost little, I've done OK on depreciation with my b6-7 last cars. They all went up but the appreciation is a tiny fraction of track expenses and or upkeep / ownership costs.
Some will see it as an investment if they make it their business and job, but I already have some of those.
Here, our hobby is mostly driving cars, not washing or looking at them.
I have heard of buildings and investments paying for cars. Not the other way around. Cars don't cash flow very well.
Some will see it as an investment if they make it their business and job, but I already have some of those.
Here, our hobby is mostly driving cars, not washing or looking at them.
I have heard of buildings and investments paying for cars. Not the other way around. Cars don't cash flow very well.
#33
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From: Rock Hill, SC, just south of Charlotte, NC
Back in the mid '60's, when I left the DC area to head west to Lincoln for college at Nebraska, I bought a '63 TR4 in Lincoln. Paid $1500, had to rebuild the motor, drove it 44K miles in the 11 months I owned it, sold it for what I paid for it. Then the DC papers were full of columns of used sports cars, so bought a '65 MGB, paid again about $1500. Drove it out to NE and owned it for several years, then found I could buy in DC, and sell in Lincoln for the original price. So indeed did that with the 'B, after two years and more miles, including one 360 roll over at speed, only tearing the top, sold it for what I paid for it.
But in general, over the years, with luck and careful maintenance, while I have not profited with moving in and out of various cars, I think I have done reasonably well. I have no plans to sell our new to us '07 GT3, so considerations of retained value, and depreciation with more miles, is only of casual interest to me.
All the best....
But in general, over the years, with luck and careful maintenance, while I have not profited with moving in and out of various cars, I think I have done reasonably well. I have no plans to sell our new to us '07 GT3, so considerations of retained value, and depreciation with more miles, is only of casual interest to me.
All the best....
#34
Nordschleife Master
I'm gonna buck the trend here and go a little farther back. Find a nice 74 or 75 US Carrera. Like a 964 RSA it's basically a trim level car. But they are now pushing twice the price of their normal 911 and 911S counterparts. A couple really fine examples in the $70s and $80s with dealers right now. Private party can still be had $40-60k. I just bought one, but it's going to be getting restored for a bit.
#35
Investment may be the wrong way to think of it for some, but I think there is something to be said for strategically buying cars that you can have a lot of fun with, yet they will not depreciate like an absolute stone. Lesson learned for me when I bought a 2008 M3 with 4k miles in 2008. Sold it in May 2013 with 60k miles for half of what I originally paid. I really loved that car, but modded it, tracked it and lost a lot of money on it.
The last two cars I've purchased were bought on the premise that they were not long term keepers as I am a US expat living in the UK. That being said, a stipulation for me was a car that I was not going to lose my *** on (ie, something like a new M3 again).
I purchased a 2003 M3 CSL when I moved to Scotland in May of 2013 and at the time it had 63k miles on it (a driver, not a collector). During my ownership I had to put about £4k into the car including a big brake kit because the stock brakes were terrible. I sold the car with 79.5k miles in December 2014 for the price I originally paid. Therefore, roughly 20 months of ownership and 16.5k miles cost me £4k. The GT3 is an ongoing experiment, so we'll see where that ends up.
If everything goes to plan, I'll pick up a 7.2 GT3 (RS if the stars align, but not holding my breath) when I get relocated back to Texas and hold on to it long term. In the meantime, I am stocking up on clubsport parts.
The last two cars I've purchased were bought on the premise that they were not long term keepers as I am a US expat living in the UK. That being said, a stipulation for me was a car that I was not going to lose my *** on (ie, something like a new M3 again).
I purchased a 2003 M3 CSL when I moved to Scotland in May of 2013 and at the time it had 63k miles on it (a driver, not a collector). During my ownership I had to put about £4k into the car including a big brake kit because the stock brakes were terrible. I sold the car with 79.5k miles in December 2014 for the price I originally paid. Therefore, roughly 20 months of ownership and 16.5k miles cost me £4k. The GT3 is an ongoing experiment, so we'll see where that ends up.
If everything goes to plan, I'll pick up a 7.2 GT3 (RS if the stars align, but not holding my breath) when I get relocated back to Texas and hold on to it long term. In the meantime, I am stocking up on clubsport parts.
My thoughts exactly. I guess I should have said choose a fun car with minimal depreciation risk versus investment.
I have purchased lots of new upscale cars in the past and took a bath on every one. I plan to buy smarter from now on.
#36
I think that when you can't get a cayman/boxster with a NA motor anymore the Spyder and Cayman R are going to hold their value pretty well. You can get into one for about that/little less now. Seriously fun cars, more fun that the current gen.
#37
For something a little different - try a 2005 Lotus Elise. Around 2500-3000 made, I think, cost $50k brand new and fully equipped, dropped to around $25k, now around $30-35k. You won't have more fun and values should hold. I haven't looked at prices recently so I could be wrong, but the Toyota engine was bulletproof and the rest of the car was pretty simple. I wish that I still had mine.
#38
GT3 player par excellence
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+1 I have never understood the rationale to buy cars for investment purposes. I buy all my cars to DRIVE. In my mind, I view them as depreciating assets. However, if I happen to own car/s that do appreciate or hold their value then I consider myself lucky and it's just whipped cream on top of the sundae. Sunk carrying costs such as insurance, registration, and/or storage can add up and then of course you have time value of money and opportunity costs of other investments. But what do I know, I'm just a lowly bean counter and a Porsche semi-newbie.
#39
Rennlist Member
#40
Would suggest a Cayman R too.
#42
Drifting
Rocketman...two manly cars well done.
For the OP there was a 2007 C4S coupe in classified for low 50's...thats a good deal in today's crazy market.
For the OP there was a 2007 C4S coupe in classified for low 50's...thats a good deal in today's crazy market.
#43
Drifting
As good as the FGT is the CGT is the holy grail.
#44
All my sports cars are investments. Thats just the way I roll.
If a car depreciates it doesn't sit in the garage.
All my toys and hobbies have the same requirements.
Beer budget Champaign taste has done me well over my 40 years of car ownership.
At 60K there are still the occasional 6GT3s out there. Gotta be fast and alert.
There was a nice 65K gt2 that sold 2 or 3 months ago.
If a car depreciates it doesn't sit in the garage.
All my toys and hobbies have the same requirements.
Beer budget Champaign taste has done me well over my 40 years of car ownership.
At 60K there are still the occasional 6GT3s out there. Gotta be fast and alert.
There was a nice 65K gt2 that sold 2 or 3 months ago.
#45
GT3 player par excellence
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