Upside Down - Justification
Thread Starter
Drifting
Joined: Jan 2017
Posts: 1,271
Likes: 669
From: Seminole, FL
Upside Down - Justification
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?
Anyone?
Le Mans Master
Joined: Mar 2010
Posts: 6,498
Likes: 1,938
From: The Golden Triangle, Florida
2024 C2 of the Year Finalist - Unmodified
2023 C2 of the Year Finalist - Unmodified
St. Jude Donor '20 thru '25
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.
Fishing, golf, old cars . . . All require money. All are bad investments unless you count the pleasure factor as having value for you.
Burning Brakes
Joined: Sep 2016
Posts: 946
Likes: 266
From: McMinnville Oregon
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.
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.
Race Director
Joined: Nov 2003
Posts: 10,696
Likes: 3,090
From: Cottonwood AZ
C1 of Year Finalist (performance mods) 2019
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.
Drifting
Joined: Jan 2016
Posts: 1,673
Likes: 965
From: CENTCOM, Tampa, FL
USMC
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!
So I tell my wife that all the money I spent on it this year is “all about the children” and not for me!
Team Owner
Joined: Aug 2007
Posts: 58,061
Likes: 7,145
Army
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...
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...
Race Director
Joined: May 2006
Posts: 15,554
Likes: 555
From: Eagle, Idaho
Corvette Stories
The Best of Corvette for Corvette Enthusiasts
10 Reasons the C6 Z06 is Still A Performance Benchmark After 20 Years
Joe Kucinski
How Much Horsepower Every Corvette Engine "LOST" in 1972
Joe Kucinski
Top 10 DOs and DON'Ts for Protecting Your Convertible Top!
Michael S. Palmer
Top 10 Most Explosive Corvettes Ever Made: Power-to-Weight Ratio Ranked!
Joe Kucinski
150 hp to 1,250 hp: Every Corvette Generation Compared by the Specs That Matter
Joe Kucinski
8 Coolest Corvette Pace Cars (and Replicas) of All Time
Verdad Gallardo
Top 10 Corvette Engines RANKED by Peak Torque (70+ Years of Muscle!)
Joe Kucinski
Corvette ZR1X Will Be Pacing the Indy 500, And Could Probably Race, Too!
Verdad Gallardo
Top 10 Corvettes Coming to Mecum Indy 2026!
Brett Foote
Burning Brakes
Joined: Sep 2016
Posts: 946
Likes: 266
From: McMinnville Oregon
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".
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".
Melting Slicks
Joined: Nov 2012
Posts: 2,276
Likes: 380
From: Waltham Ma.
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.
Le Mans Master
Joined: Feb 2008
Posts: 5,214
Likes: 447
From: NJ Hockey beer league
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. 
Race Director
Joined: Apr 2015
Posts: 17,571
Likes: 3,460
From: Fresno California
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 $$$ the minute I drove it off the lot. I never have and never will buy a new car. People who end up 'upside down' with old cars are either not worried about it (enjoying their passion) or are inexperienced and are in that situation by surprise.
CF Community Team
Joined: Oct 2004
Posts: 19,363
Likes: 5,243
From: Cape Cod, Mass.
2025 C6 of the Year Finalist - Unmodified
2025 C8 Z06/7/E-Ray of the Year Finalist - Unmodified
2023 C3 of the Year Finalist - Unmodified
2021 C8 of the Year Finalist Unmodified
2020 Corvette of the Year Finalist (performance mods)
2019 C1 of Year Winner (performance mods)
2017 Corvette of the Year Finalist
2016 C2 of Year
2015 C3 of Year Finalist
They are an investment in pleasure. You can't put a dollar figure on the enjoyment they bring. If you're having fun with it, it's worth every penny.
Team Owner
Joined: Mar 2003
Posts: 26,118
Likes: 1,874
From: Greenville, Indiana
Here is one way to justify it. Just go into denial and throw away all your purchase receipts instead of pulling them out and showing them around. As long as you have food on the table, heat/lights and a roof over your head, it won't much matter what whatever cost.
Thread Starter
Drifting
Joined: Jan 2017
Posts: 1,271
Likes: 669
From: Seminole, FL
Some very good points (she may relate to the boat analogy best). I am returning to the hobby after a 30 year hiatus, but still capable of doing most of the work myself. My parents bought the car in 92, and I acquired it last year. It will stay in the family, so my intent is to make it safe and enjoyable.
Team Owner
Joined: Mar 2003
Posts: 26,118
Likes: 1,874
From: Greenville, Indiana
Pro
Joined: Sep 2012
Posts: 714
Likes: 230
. Agree- SIMPLE—- Your car and experience of ownership is what YOU want it to be. If you spend improvement $$$ 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.
Last edited by Tmichaelson; Dec 27, 2017 at 04:55 PM.
Le Mans Master
Joined: Sep 2003
Posts: 8,812
Likes: 2,029
From: eastern NC
Administrator
Joined: Jul 2000
Posts: 53,981
Likes: 6,207
From: About 1100 miles from where I call home.
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.
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.