Hermn59

How does one go about explaining that every dollar spent on a car may not increase the value? I know our cars are an investment to an extent, but many of us will spend more on the car than it is worth to make it look and/or perform better.


Anyone?

Mr D.

The car is a hobby and if your investing money into used Chevy's they make a very poor investment vehicle.

RatDog

Very few hobbies are going to put money in your pocket.

Fishing, golf, old cars . . . All require money. All are bad investments unless you count the pleasure factor as having value for you.

kolsen911

I suppose it depends on how you put the money into it and if that model appreciates.

I payed $8K for my 72 Porsche 911 20 years ago. Put another $25K into it over the years, did all the work myself. About 5 years ago it was valued at about $25K so I was close to even. Then in the last few years it's value jumped to up around $40-50K.

One never knows. In my case the Porsche as well as the Vette and Classic Mini will go to my grandkids so the value isn't important to me.

68hemi

Are you new to the hobby?

There is certainly no guarantee that you will ever get the money back on these cars. People do much of this for the love of the car or what they have in mind for THEIR liking and it often has nothing to do wit the money.

USMC 0802

My father paid $2700 for my ‘66 back in ‘75. I took bought it from the old man in 2015 and one of my sons will get it some day...

So I tell my wife that all the money I spent on it this year is “all about the children” and not for me!

Frankie the Fink

Explain it like this:

Think of buying a boat - then take away rationality, reasonable maintenance costs and the pleasure of actually riding in it more than working on it. That's the classic car hobby.

Then, I think folks might catch on...

Randy G.

Great analogy. I've yet to hear someone say what the two best days of a C1 or C2 Corvette owner's life is.

kolsen911

For one, how about the car has been sitting all winter and you go start her up and listen to that big engine idle.

For two, you are driving into town and slowly pass a car loaded with young kids and you see them pointing fingers at you and jumping up and down.

Of course in my case it doesn't take much to make this old guy smile.

As in, Albertson's parking lot in my Classic Mini. Little boy and mom going in. "Hey mom look at that cool little car". Mom says "son that is a real Mini".

biggd

If you're looking for an investment there are much better options out there than a Corvette. It's a hobby and hobbies mostly cost you money. That being said, I love buying a car that someone else has spent a ton of money on and I get it at a big discount when the thrill has run it's course.

Pilot Dan

Depends when you bought your car. If you got into the "HOBBY" back in the 70's or 80's (when it WAS a hobby for most of us) then chances are good you can restore and get your money back when you sell if you bought a decent car to begin with. The starting prices for some of the junk I see out there these days pretty much insures you will be upside down in most cases even if you do the work yourself because the cost of parts and materials has risen so much. That being said, some folks will still get involved knowing that for various reasons.

GTOguy

I've never lost money on old cars. I guess its because I tend to buy them at the right price and keep them...for a long time. My GTO's are worth almost 30 times what I paid for them, and I've been driving them constantly for the past 35+ years! Even my daily driver work truck, an '83 Toyota 4x4, is worth 35% more than what I paid for it 25 years and 100,000 miles ago....and that's with me driving it every day to work. I'd rather 'blow' money on a classic than buy a brand new car and be bleeding cubic $$$ the minute I drove it off the lot. I never have and never will buy a new car. People who end up 'upside down' with old cars are either not worried about it (enjoying their passion) or are inexperienced and are in that situation by surprise.

capevettes

They are an investment in pleasure. You can't put a dollar figure on the enjoyment they bring. If you're having fun with it, it's worth every penny.

MikeM

Here is one way to justify it. Just go into denial and throw away all your purchase receipts instead of pulling them out and showing them around. As long as you have food on the table, heat/lights and a roof over your head, it won't much matter what whatever cost.

Hermn59

Some very good points (she may relate to the boat analogy best). I am returning to the hobby after a 30 year hiatus, but still capable of doing most of the work myself. My parents bought the car in 92, and I acquired it last year. It will stay in the family, so my intent is to make it safe and enjoyable.

MikeM

Maybe you could just come right out and tell "she" how it's going to be? Who is running that place?

Frankie the Fink

Go for it.

Straighten that gal out and put your foot down...

When your body parts turn up in Ziploc bags in the freezer we'll know not to believe the suicide note...

Tmichaelson

. Agree- SIMPLE—- Your car and experience of ownership is what YOU want it to be. If you spend improvement $$$ for some future owner only its questionable. If you spend improvement $$$ dollars for yourself it makes sense. For many owners it’s not hard to spend the improvement $$$ because we can’t force ourselves to live with something that we know is substandard . If you keep historical and current market value in mind you know what $$$ amounts are within reason and what is ridiculous.

GUSTO14

Geez Mike, the guys just getting back into the hobby and here you are trying to get him killed already...

vettebuyer6369

Your OP didnt clarify that you were gathering ammunition for a conversation with The Queen. I’m not sure it’s a winnable argument.

I’ve discovered the answer for that is marry a car chick.

For the record, I’ve been buying these cars since the 70s and the only ones I’ve lost money on were newer models- a C5 we bought new and a couple C4s that I knew were $ losers from the get-go.