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post #7 of (permalink) Old 06-05-2010
s197gt
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Joined: Nov 2008
Location: Eureka
Posts: 1,447
 
Cars are a money pit just like large sailboats. It is a one in a million chance to ever make money on a car...and that would take 30 to 40 years of climate controlled storage.

I have an 05 GT. MSRP was $29,000. Current Value $13,000.

I have owned over 55 cars in my life time. If I had owned more like 4 or 5 cars instead (all that I really needed) , I'd have money to spend now to supplement my Social Security. I don't have that money and need a job now.

Example of money lost: I bought used an 05 V-6 coupe auto trans...two years old. MSRP was over $23,000. I paid $15,000 for it used two years old. I drove it for a year. Tried to sell it in a bad economy. It took me 18 months to get it sold. Finally sold it wholesale for $9500...a great, no problems, low mileage car, in a popular color.
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