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post #9 of (permalink) Old 06-06-2010
2Rowdy
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Joined: Dec 2005
Location: Lancaster
Posts: 379
 
Quote:
Originally Posted by s197gt View Post
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.
I don't think he was wanting to make money, those cars are few and far between. Plus, you have to keep them 4ever. 13k is a little low for a 2005, people will pay more. I have a 2006 GT that has been modified using nothing but Ford Racing products, I have about $3500 in mods and it's well documented. I've been offered 22k cash for my car and someone else wanted to trade me a 2001 Wrangler (looking for one) and 12k. Options and mods can and do matter when it comes to resale. For some reason, it doesn't hurt that I refuse to sell it.

2006 GT, FRPP drag pack, FRPP handling pack
2011 GT ordered 1/30, off the truck on 6/21

Black GT - 401a, Black/Cashmere interior
6 spd, spoiler delete, security package
3.73, HID, comfort package
Brembo brake package, Glass top
First mod - CS front fascia
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