GN Car prices as of late ??

[GullsGN]

There is a difference between "depreciate" and being undervalued. They're basically the same if you have to sell today, but if like in the stock market you can wait until the market rebounds, your car did not depreciate. Now before someone goes crazy on me, I DID NOT just equate buying a GN to buying stock. I am merely pointing out that a new car depreciates, goes down in value to never recover, collectible cars go up and down with the current market. When I had the chance to buy a GNX in 1987 with the MSO for 10K over sticker I thought the guy was nuts, little did I know that that car was not going to depreciate. Then again, the way I enjoy driving my cars, what would a GNX with about 100K miles be worth? It's all relative.

So, you think that when the market rebounds, your car will be worth 20K? How long do you think that will be? 5 or 10 years? If you take the lower 5 year number, You will now have a 100k+ motor and a 5 year old paint job with a nick here and there. 10 years? Then you might have to spend another 20K to get it good again.

I bought my car new for 18K. It is beautiful, and reliable, and 140k on the clock. Along the way there has been new paint, upholstery, and a few goodies. But, my car will never be worth 18K again, not without a cost of twice that.

Now, if you are talking about putting a car away and never driving it, so it will be in the same condition in the future, then that is another story.

 

[hesermon]

I personally know of a 69 Cuda that sold new for around $5000 and after 30k in work sold for over $100,000. I can appreciate that kind of "depreciation". If you spend too much on a car that doesn't mean it depreciated, it just means it's worth less that what you have in it.

 

[hesermon]

Just thought of another thing, I sold these cars new. They only stickered for 15 to 17 grand when new so 12 to 15 grand is actually pretty darn good residule value almost 30 years later!

 

[gidyuppp]

Never depreciate? Depends on how you look at it. If you were to sell your car now you would probably get 13 or 14K for it. If so, then it already had depreciated 7 grand.

Well, points taken. Philosophy is I would be a knuckle head to sell a collector car about 2 weeks before the salt flies in Michigan. And the condition its in, for 13-14K I would have to be in dire financial ruins to let it go for less that 17 in its condition. As stated by many, cars are not investments unless you have something super rare and special (GNX). I put about 1500 miles a year on each of my cars so my miles will stay reasonable for another 10 years. By that time, if I even sell, I would hope the car would be worth 14-15 grand. In reality its entertainment. My wedding was 20 grand, fun for 6 hours. Cruises are 4 grand for the family, pay 4000 per year to lease my daily driver. At least with the Vette, the Iroc, and especially my GN I have something special to show for my losses and they will always have some collector value.