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May 4, 2021, 02:27 PM
Safety Car
Joined: Sep 2013
Posts: 4,355
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From: Draper Utah
For the most part the asset is not increasing in valve. The problem is the dollar is decreasing in value. One trip to the grocery store will prove that to be true. That's what happens when the government prints money like there is no tomorrow.
Racer
Joined: Apr 2021
Posts: 361
Likes: 392
I guess we can add this thread to the 5 others on the first page alone talking about values and how much they've gone up.
It's exciting to see what has long since been considered a depreciating asset actually appreciate for a change. Most people (aside from car collectors and investors) don't expect to make money with their vehicles, but that's what is happening now. If you purchased a gently used C7 couple of years ago, you can probably sell now for what you paid unless you damaged it or drove the wheels off of it. 2 years of "free" ownership, other than gas. Not bad!
But it won't last forever.
If you still enjoy your car and had no plans to sell, I'm not sure why making a few thousand bucks would push you to sell now. On the other hand, if your car is sitting around collecting dust, or if you were planning to sell it anyway, maybe now is thr best time to do so, especially if you aren't looking to immediately jump into something else.
It's exciting to see what has long since been considered a depreciating asset actually appreciate for a change. Most people (aside from car collectors and investors) don't expect to make money with their vehicles, but that's what is happening now. If you purchased a gently used C7 couple of years ago, you can probably sell now for what you paid unless you damaged it or drove the wheels off of it. 2 years of "free" ownership, other than gas. Not bad!
But it won't last forever.
If you still enjoy your car and had no plans to sell, I'm not sure why making a few thousand bucks would push you to sell now. On the other hand, if your car is sitting around collecting dust, or if you were planning to sell it anyway, maybe now is thr best time to do so, especially if you aren't looking to immediately jump into something else.
Safety Car
Joined: Sep 2013
Posts: 4,355
Likes: 2,633
From: Draper Utah
For the most part the asset is not increasing in valve. The problem is the dollar is decreasing in value. One trip to the grocery store will prove that to be true. That's what happens when the government prints money like there is no tomorrow.
Drifting
Joined: Aug 2013
Posts: 1,502
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From: Hill Country Texas
Team Owner
Joined: Sep 2010
Posts: 32,042
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I bought a new 1977 C3 L82 in December 1976. $9,500.00 out the door. Two years later I sold it to a wholesale auto dealer for $9,300.00. 9K miles on it. I should have asked more for it.
Last edited by Skid Row Joe; May 4, 2021 at 02:59 PM.
Racer
Joined: Apr 2021
Posts: 361
Likes: 392
I'm no economist, but I think anyone with a little sense can understand that there is no way the housing market boom and used car boom is going to last when our economy has been artificially propped up by a flood of Federal dollars. Inflation and tax increases are a-comin'! Hence my advice if you were looking to unload something and aren't going to immediately reenter the market as a buyer, now would be the time to do that.
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Team Owner
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Safety Car
Joined: Dec 2009
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1st one for me times were tuff Hard work high interest rates low pay new babies the whole deal
Team Owner
Joined: Sep 2010
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Long answer, but all true. I became an investor of stocks shortly thereafter, and made a small fortune in 40 years to buy the C7, and whatever else I want. Only downside, is I'm 69 yrs old.
Last edited by Skid Row Joe; May 4, 2021 at 11:52 PM. Reason: Typos....
Safety Car
Joined: Dec 2009
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Skid Row Joe check my web page out rtruman.com
I am selling the Stingray Zoorm is picking up first offer 56000 2nd offer 54300
I guess I should OF taken 1st offer didn't find replacement till second offer .
Waite till you See what I replaced it with.
I am selling the Stingray Zoorm is picking up first offer 56000 2nd offer 54300
I guess I should OF taken 1st offer didn't find replacement till second offer .
Waite till you See what I replaced it with.
Team Owner
Joined: Sep 2010
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Rtruman, saw all the various classics on your web page. Not sure which is the Vrooom though? I'm not as mechanical as you are, and I don't have garage space for more than two cars. I love many classics that are restored, but I wouldn't be able to fix them with the upkeep needed. So I restrain myself from buying them for that reason too.
Safety Car
Joined: Dec 2009
Posts: 4,528
Likes: 444
Rtruman, saw all the various classics on your web page. Not sure which is the Vrooom though? I'm not as mechanical as you are, and I don't have garage space for more than two cars. I love many classics that are restored, but I wouldn't be able to fix them with the upkeep needed. So I restrain myself from buying them for that reason too.
That's the high price offer This Stingray is perfect all over
Last edited by rtruman; May 5, 2021 at 06:32 PM.
Team Owner
Joined: Sep 2010
Posts: 32,042
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Team Owner
Joined: Sep 2010
Posts: 32,042
Likes: 4,610