Pristine 1k mile MY00 NFR on BaT
10-31-2018, 03:26 PM
#11
I was under the impression that people preserve these cars not as financial investments...but because of some sort of psychological block.
This car was ~$34K back in 2001 (not including taxes and fees). That's like $48K in 2018.
So even if the OG owner got back $48K for the car when he traded it in...its a net loss.
On top of that...count up all the insurance and maintenance (as minimal as it may be), and any interest paid on the car loan, and its obvious how bad the investment is.
Even if it sold for $60K...the "investment" factor is bad. You basically held yourself back from driving a car and enjoying it for the equivalent of ~$1K per year ($83/month) in "profit" compared to just the dry, pre tax selling price if the car.
People do this type of preservation because they have some sort of mental block that makes them want to preserve cars. Satisfying a mental issue is the only thing that makes it a worthwhile payoff.
This car was ~$34K back in 2001 (not including taxes and fees). That's like $48K in 2018.
So even if the OG owner got back $48K for the car when he traded it in...its a net loss.
On top of that...count up all the insurance and maintenance (as minimal as it may be), and any interest paid on the car loan, and its obvious how bad the investment is.
Even if it sold for $60K...the "investment" factor is bad. You basically held yourself back from driving a car and enjoying it for the equivalent of ~$1K per year ($83/month) in "profit" compared to just the dry, pre tax selling price if the car.
People do this type of preservation because they have some sort of mental block that makes them want to preserve cars. Satisfying a mental issue is the only thing that makes it a worthwhile payoff.
The following users liked this post:
99MCoupe (10-31-2018)
10-31-2018, 04:06 PM
#12
Seems to me that if you want a car to drive this is not the car to buy. This one is a museum piece. You will lose a lot of money if you put 5K miles on the thing. Even if it goes for 30K, and it won't. Drive it 5-10 K and you just lost about 8 - 10 K. Just buy one with 10-20 K miles for high teens low 20s. It will be interesting to see where this auction ends at. We might be surprised. 30 or 35 K might be the number.
As far as why people buy and preserve this kind of car? I think that the buyers have so much $ that it is not even a factor in their decision making. They love cars and they want to preserve fine examples of special cars. Nothing wrong with that.
As far as why people buy and preserve this kind of car? I think that the buyers have so much $ that it is not even a factor in their decision making. They love cars and they want to preserve fine examples of special cars. Nothing wrong with that.
10-31-2018, 07:07 PM
#13
I picked up my 2008 with ~1,600 miles for 21k. It was my dream car and a once in a lifetime deal. I was offered 35k for it shortly thereafter but instead chose to keep, mod, and drive it. Now at 70k miles, I am glad I enjoyed this car and continue to enjoy it like day 1
The following users liked this post:
99MCoupe (10-31-2018)
10-31-2018, 09:31 PM
#14
I couldn't have an S2K just sitting around unless I had two. Even then I don't know if I would.
If I'm not going to enjoy the car in my 20s, 30s, etc then when do I get to enjoy it? Why deprive myself? In 20 years time hopefully I can afford something much more exotic than an S2K. At the end of the day it's just a car, a not-even-that-expensive car, and if things break or get worn down, I replace them. My car looks better today than it did when I bought it, inside and out. Majestic honda is my jam.
11-01-2018, 04:17 AM
#15
Moderator
Fourteen years and 108k mi on mine - I can't imaging buying a car like an S2000 and just looking at it, not driving it.
Just buy a poster if you want to look at it - much cheaper option.
Just buy a poster if you want to look at it - much cheaper option.
11-01-2018, 07:34 AM
#17
If anyone has a low mileage car and wants to actually drive an S2000, let me know & I'll trade you my 150k mile example replete with modifications.
I will then proceed to drive your old car & modify it as well.
I will then proceed to drive your old car & modify it as well.
11-01-2018, 02:38 PM
#18
Seems to me that if you want a car to drive this is not the car to buy. This one is a museum piece. You will lose a lot of money if you put 5K miles on the thing. Even if it goes for 30K, and it won't. Drive it 5-10 K and you just lost about 8 - 10 K. Just buy one with 10-20 K miles for high teens low 20s. It will be interesting to see where this auction ends at. We might be surprised. 30 or 35 K might be the number.
As far as why people buy and preserve this kind of car? I think that the buyers have so much $ that it is not even a factor in their decision making. They love cars and they want to preserve fine examples of special cars. Nothing wrong with that.
As far as why people buy and preserve this kind of car? I think that the buyers have so much $ that it is not even a factor in their decision making. They love cars and they want to preserve fine examples of special cars. Nothing wrong with that.
Seems to me that if you want a car to drive this is not the car to buy. This one is a museum piece. You will lose a lot of money if you put 5K miles on the thing. Even if it goes for 30K, and it won't. Drive it 5-10 K and you just lost about 8 - 10 K. Just buy one with 10-20 K miles for high teens low 20s. It will be interesting to see where this auction ends at. We might be surprised. 30 or 35 K might be the number.
As far as why people buy and preserve this kind of car? I think that the buyers have so much $ that it is not even a factor in their decision making. They love cars and they want to preserve fine examples of special cars. Nothing wrong with that.
As far as why people buy and preserve this kind of car? I think that the buyers have so much $ that it is not even a factor in their decision making. They love cars and they want to preserve fine examples of special cars. Nothing wrong with that.
I think you and I are pretty much saying the same thing. Let me explain...
Some people have a mindset of preservation of a nice car. Other peoples' mindset is to enjoy a nice car by driving it.
My earlier post was in response to claims that some people do this preserving as an investment. I sure hope not. Because basic math would show they're making a choice to lose money.
Obviously, preservation has less of a monetary impact than driving and enjoying. But it does have some impact. Not buying the car and making an ACTUAL investment would make sense if you're trying to invest.
Which leads me to believe that there are weirdos out there who see preserving a car as a "fun hobby". Hard to wrap my mind around that....but...whatever peels your bananas
11-01-2018, 04:49 PM
#19
I was under the impression that people preserve these cars not as financial investments...but because of some sort of psychological block.
This car was ~$34K back in 2001 (not including taxes and fees). That's like $48K in 2018.
So even if the OG owner got back $48K for the car when he traded it in...its a net loss.
On top of that...count up all the insurance and maintenance (as minimal as it may be), and any interest paid on the car loan, and its obvious how bad the investment is.
Even if it sold for $60K...the "investment" factor is bad. You basically held yourself back from driving a car and enjoying it for the equivalent of ~$1K per year ($83/month) in "profit" compared to just the dry, pre tax selling price if the car.
People do this type of preservation because they have some sort of mental block that makes them want to preserve cars. Satisfying a mental issue is the only thing that makes it a worthwhile payoff.
This car was ~$34K back in 2001 (not including taxes and fees). That's like $48K in 2018.
So even if the OG owner got back $48K for the car when he traded it in...its a net loss.
On top of that...count up all the insurance and maintenance (as minimal as it may be), and any interest paid on the car loan, and its obvious how bad the investment is.
Even if it sold for $60K...the "investment" factor is bad. You basically held yourself back from driving a car and enjoying it for the equivalent of ~$1K per year ($83/month) in "profit" compared to just the dry, pre tax selling price if the car.
People do this type of preservation because they have some sort of mental block that makes them want to preserve cars. Satisfying a mental issue is the only thing that makes it a worthwhile payoff.
darcy
11-01-2018, 05:13 PM
#20
Investments and things that depreciate when you enjoy them are a bad mix. I'd take the experience every time. You can always make more money later.