Modifying your doesn't increase its value

[Rampage]

Originally Posted by Dave-ROR

There's some of that for sure.


There's also these reasons:
-People like a project and once one is "done" they want to move on. This causes them to lose a ton of money on this hobby. See @King Tut
-People build the car because they want want want but can't afford it so once that 20,000 credit card bill starts coming in they have to dump and recover as much as they can.


I'm sure there are other reasons too though.

For much of my life, I was the project guy that always wanted to "improve" the car to achieve my vision for it. I usually did not spend money I did not have but when the project was done and the car was "perfect" then I would get bored and sell it. At a big loss of course.

Originally Posted by King Tut

The only car I ruined was my Cayman R. When Fabspeed tells you the products are "Race" products, don't install them on your street car. Lesson learned on that one, but at least it went to somone that was actually going to track the car. I don't like to call it losing money on the hobby, more just the cost of admission. As long as the enjoyment you get out of the parts/hobby are greater than the amount paid, then you can't really call it losing money.

I felt much the same as you or at least that was how I justified my addiction. Now, I am 60 and retired. I look back at the money I spent on cars and think of how big a nest egg I would have had if I had invested some of it instead of indulging my hobby. I now recognize it as losing money.

That being said, I did enjoy myself and I am comfortable in retirement so I have no real regrets. I have learned, however, to mod for myself, have a specific goal in mind when modding a car, not to over mod and to keep the modded car for my own enjoyment.

[BRZZZZZZZZZZ]

Modifying my HWHAAAAT?

[tahdizzle]

Eh, Money spent on something you love isn't wasted money.

[Rampage]

Originally Posted by tahdizzle

Eh, Money spent on something you love isn't wasted money.

I never said wasted. I said I recognize it as losing money. Now, my wife would call it wasted.

[xRavenFRSx]

Ive had 2 trucks sell for almost new price with cheap "mods". But those were trucks, and they hold value well. I bought a 2011 Ranger Sport for 20,000 new (in high school, so don't laugh at the mods), with wheels, tires, cheap audio setup with touch screen, autozone floor glow, flowmaster muffler with ebay exhaust tips, an air filter and airbox I cut to make intake sounds. I traded it into a dealer for 16,500 with 20k miles on it, they sold it after a month for 18,900. I was pretty sure I cut any ability for them to make money at 16,500.


I bought a 2012 Tacoma TRD Sport for 27,500 with 12,000 miles on it, sticker msrp was 30,600. I sawzalled the exhaust pipe past the axle off, had a magnaflow welded on, plastidipped the wheels, added bigger tires and leveled it with new bilstein front struts, K&N warmer air intake, tinted windows, touch screen, JBL Speakers, ebay subs and enclosure behind the rear seats, and more autozone floor glow. with 25,000 miles on it Toyota gave me 27,000 for it, again I thought I screwed them from making any money on it... after two weeks those mf'ers sold it for 30,000. 600 under sticker. It had plastidipped wheels and it sold for 600 under sticker -__-

[LSxJunkie]

Originally Posted by xRavenFRSx

Ive had 2 trucks sell for almost new price with cheap "mods". But those were trucks, and they hold value well. I bought a 2011 Ranger Sport for 20,000 new (in high school, so don't laugh at the mods), with wheels, tires, cheap audio setup with touch screen, autozone floor glow, flowmaster muffler with ebay exhaust tips, an air filter and airbox I cut to make intake sounds. I traded it into a dealer for 16,500 with 20k miles on it, they sold it after a month for 18,900. I was pretty sure I cut any ability for them to make money at 16,500.


I bought a 2012 Tacoma TRD Sport for 27,500 with 12,000 miles on it, sticker msrp was 30,600. I sawzalled the exhaust pipe past the axle off, had a magnaflow welded on, plastidipped the wheels, added bigger tires and leveled it with new bilstein front struts, K&N warmer air intake, tinted windows, touch screen, JBL Speakers, ebay subs and enclosure behind the rear seats, and more autozone floor glow. with 25,000 miles on it Toyota gave me 27,000 for it, again I thought I screwed them from making any money on it... after two weeks those mf'ers sold it for 30,000. 600 under sticker. It had plastidipped wheels and it sold for 600 under sticker -__-

You didn't lose money, but you didn't make any back either. Small trucks are in high demand, so those would have sold at that price or better without the modifications.

[solus]

Sold my 2008 Toyota Tacoma after 6 years of ownership. KBB said $19,000... sold it for $24,000. Originally bought it for $32,000... $8k depreciation over 6 years. Not bad... I had about $5K in mods, grill, RCD 4.5" lift, retrofit lights, catback exhaust, wheels and tires.

Drove it for 6 years, and still made a decent amount back. The correct mods are will allow a vehicle to hold value, but it will limit the amount of interested buyers.

A car is worth what someone will pay for it...

[GhostRai]

Reminds me of a friend of mine. He's not into cars (as evident in this story) but he wants to buy this 2011 WRX STi off his friend. He asks me for advice so he shows me a picture. For one, the corner of the picture has a "Stance___" logo so I know for one it doesn't drive well. Basically seems like a mechanically stock STI with lowered springs, TEAL wheels, some carbon fibre hood, some obnoxiously large rear spoiler, and so I'm told, a louder exhaust (since my "friend" says that he likes the noise it makes from the speakers that the engine produces) Best part, he doesn't even know how to drive manual, and the seller is trying to sell it to him for $60,000...At $60,000 he is considered it even though he just wants it mainly for the "sound" and looks (despite the fact he didn't even know what I meant when I asked if he knew how to drive stick) I'm inclined to let him buy it for $60,000 and proceed to stall and beach on every speed bump as he uses it as his DD.

[Ammonia]

Originally Posted by solus

Sold my 2008 Toyota Tacoma after 6 years of ownership. KBB said $19,000... sold it for $24,000. Originally bought it for $32,000... $8k depreciation over 6 years. Not bad... I had about $5K in mods, grill, RCD 4.5" lift, retrofit lights, catback exhaust, wheels and tires.

Drove it for 6 years, and still made a decent amount back. The correct mods are will allow a vehicle to hold value, but it will limit the amount of interested buyers.

A car is worth what someone will pay for it...

Tacoma is a poor example, as they have some of the best value retainment in the car business.

I can't tell you how many 100k+ mileage tacomas I've sold for close to $20k.


I can assure you that your mods had zero to do with the value held.