Originally Posted by Brent
What's the refrain that's posted occasionally? Ah yes, don't buy a car as an investment. I doubt you will ever make anything off of it. Buy an SRT-6 today for $25,000. Store said car in garage for 10 years. Then sell for...nobody knows. Alright, say the car goes for $75,000. Wow! A profit of $50,000. Or did you really make a profit?
That $25K that was tied up in the car for a decade could have been earning interest from a CD, the stock market, etc. Then of course there is the insurance (we do have insurance, right?) being paid for 10 years on a car that wasn't even driven. Maybe registration also. And then we have the issue of not being able to park another car in the garage and money spent on the car to prep it for sale - new battery, tires maybe and so forth. Oh, and we have to drive something over the next decade because we aren't touching the Crossfire, wouldn't want to lower its value with mileage. More money for another car and more insurance to boot.
How much will the SRT-6 be worth in ten years? Well, HP might keep increasing so by 2017 800 HP could be the norm. 330 sure would be right puny compared to that. Or gas could go up till it cost $14.50 a gal. Who wants a car that only gets low 20s mpg when the newfangled stuff does 70?
The only somewhat sure thing the Crossfire has going for future appreciation is it's styling, but everything else is just to variable to make it a smart bet. And this applies to ALL cars.
Now let's keep the car for 50 years. Maybe it could be sold for a million. Will you be alive to collect? I may be, I'm 47 and family history gives me a good shot of living into my 90s. But I doubt I'll be in any condition to spend the million. More than likely I'll just be drooling onto my bib as I'm spoon fed.
I look at the SRT-6 this way - it's the highest build quality (reliability excluded), best performing and most fun car I've ever had. I'm going to drive it and enjoy the experience it has to offer. If some time in the future I have to get rid of it then so be it. Short of a nuclear war or complete collapse of civilization a better car will be available at some point in the future. Now if I sell it for more than what is expected of a 5 - 10 - 15+ year old car then good for me. Ultimately means that the car cost less than expected over the time it was kept. But make no mistake about this - the total cost of the car is going to exceed any resale value.
Don't get hung up on mileage and resale value and future collect ability because the odds are it just isn't going to be there. So everyone just may as well drive their Crossfires. After all, that's why they were bought, to be driven, right?
Brent,
Very well thought out & said! I hardily agree with you! Drive that Crossfire & enjoy, but kept it as long as you can.
Bill