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Old 09-16-2012, 11:03 AM   #41
MyThIc3LiTe
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Quote:
Originally Posted by Elizabeth View Post
My last car I owned 13 years. paid $22,600 for it back in 1998.
Sold it for $800 to a friend.
Value? Yeah, it was a LOT of fun to drive.
I'm either detecting sarcasm, or you owned a Miata.
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Old 09-16-2012, 11:34 AM   #42
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The truth about cars...

Cars are NOT an investment..
an investment is an owned asset that either increases in monetary value over time and/or directly generates income.

If you wanted an investment buying a Focus was the worst thing you could have invested your money in to.

You want to buy an "investment" go here..
www.schwab.com or www.barrettjackson.com

Cars like the focus are an EXPENSE.. pure and simple.
and the only reason to buy one is to accomplish the task of getting from point A to point B safely, economically and hopefully reliably.
and to have fun with..

The focus is nothing more than an appliance used to perform a task.. and possibly a toy to have some fun with and enjoy.

All cars lose value (except rare collectables).. nothing you can do to stop it.

If that bothers you next time buy it used at 6 months or a year old instead of brand new off the showroom floor.. let the first owner take the hit... and get a deal.

To call it an investment because it gets better gas mileage than your old paid for car simply means you can't do math..

because once you figure in the cost of full coverage insurance on a new car compared to only keeping liability insurance on the old car, the loan interest, and the initial cost of the car to purchase it... You have spent more money than if you would have just putting gas in the old car.


What is my 2012 Focus S worth? well i have spent about just under 15,000 on it (including modifications)... what could I sell it for right now? Who cares, to me its priceless because I love it and wouldn't sell it for any price.

10 years from now, when its used up most of its life and the "love affair" has ended, It'll probably be sold as scrap metal... or traded off for whatever they'll give me, just to get rid of it so i don't have to take it over the scales.


Buy it because you love it
buy it because you enjoy it.
buy it because its useful and fun.

but don't buy it with the intention of calling it an investment, because it isn't.
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Old 09-16-2012, 11:43 AM   #43
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From a financial standpoint cars are an expense. They cost money to own and they decrease in value.

yep. i write mine off over five years and i think if you drive a new car for 10 years you've made the best use of your money. at the end of that period the resale value of a toyota or honda will be much greater than a ford.
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Old 09-16-2012, 11:50 AM   #44
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About cars being an expense from a financial standpoint.
Let me add that is not to say that one could be disappointed about how quickly it is devaluing.
It will however it devalue more earlier on in the ownership period. The longer the ownership will average it out.
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Old 09-16-2012, 11:53 AM   #45
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Quote:
Originally Posted by GoldenHour View Post
From a financial standpoint cars are an expense. They cost money to own and they decrease in value.

yep. i write mine off over five years and i think if you drive a new car for 10 years you've made the best use of your money. at the end of that period the resale value of a toyota or honda will be much greater than a ford.

I kept my last one 10 years and the one before for 8 years.
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Old 09-16-2012, 11:56 AM   #46
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Quote:
Originally Posted by Chaddz3 View Post
Cars are NOT an investment..
an investment is an owned asset that either increases in monetary value over time and/or directly generates income.

If you wanted an investment buying a Focus was the worst thing you could have invested your money in to.

You want to buy an "investment" go here..
www.schwab.com or www.barrettjackson.com

Cars like the focus are an EXPENSE.. pure and simple.
and the only reason to buy one is to accomplish the task of getting from point A to point B safely, economically and hopefully reliably.
and to have fun with..

The focus is nothing more than an appliance used to perform a task.. and possibly a toy to have some fun with and enjoy.

All cars lose value (except rare collectables).. nothing you can do to stop it.

If that bothers you next time buy it used at 6 months or a year old instead of brand new off the showroom floor.. let the first owner take the hit... and get a deal.

To call it an investment because it gets better gas mileage than your old paid for car simply means you can't do math..

because once you figure in the cost of full coverage insurance on a new car compared to only keeping liability insurance on the old car, the loan interest, and the initial cost of the car to purchase it... You have spent more money than if you would have just putting gas in the old car.


What is my 2012 Focus S worth? well i have spent about just under 15,000 on it (including modifications)... what could I sell it for right now? Who cares, to me its priceless because I love it and wouldn't sell it for any price.

10 years from now, when its used up most of its life and the "love affair" has ended, It'll probably be sold as scrap metal... or traded off for whatever they'll give me, just to get rid of it so i don't have to take it over the scales.


Buy it because you love it
buy it because you enjoy it.
buy it because its useful and fun.

but don't buy it with the intention of calling it an investment, because it isn't.
Thank you. A man here that understands it.

Even 450k Lamborghinis become 200k purchases within a few years.

Unless you purchase a collectible, your car will never gain value.

You'd have to be deluded to think that.

Cars are and expense and for me I make the most of it. Mods, hard driving, whatever. I enjoy it and I don't drive it for the time I'm going to sell it. I enjoy it on my own terms and if that means my hard driving lowers the value so be it, it was my car to enjoy.

New cars are the worst especially if your paying insurance on something older.

Your rates go up and the costs of ownership especially out of warranty go up as well, even our Focii aren't cheap on the parts should you need them.

But yea, if you think a Focus is an investment that will give you a decent return, you're delusional. It's a tool, it can be an emotional tool, but it's not going to double in value just cause you think it should.
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Old 09-16-2012, 11:58 AM   #47
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Quote:
Originally Posted by GoldenHour View Post
From a financial standpoint cars are an expense. They cost money to own and they decrease in value.

yep. i write mine off over five years and i think if you drive a new car for 10 years you've made the best use of your money. at the end of that period the resale value of a toyota or honda will be much greater than a ford.
This is true, even though the Hondas and toyotas holding higher value baffles me. They aren't that much better built than the Fords, the old ones, and the new ones are a step down.

In any case, buying a car based off its future resale value is a dumb way to buy a car.
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Old 09-16-2012, 12:09 PM   #48
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You can expect that when you drive off the lot. I lost $4000 right off the bat as soon as I signed the paperwork and titled the car. In a couple of years you will probably be almost even or $2000 upside down depending on your interest rate.
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Old 09-16-2012, 12:19 PM   #49
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Quote:
Originally Posted by Chaddz3 View Post
Cars are NOT an investment..
If you wanted an investment buying a Focus was the worst thing you could have invested your money in to.
Well hopefully not the worst.
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Old 09-16-2012, 12:41 PM   #50
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Well hopefully not the worst.
True... Bernie Madoff and Peregrine Financial founder Russell Wasendorf Sr. come to mind...
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