which would you choose for weekend driver and as an investment?

[Tcoat]

Originally Posted by Dadhawk

Even at that, it may not have been that good an investment. A fully loaded (every possible option) 1963 Corvette coupe cost $6200 more or less.

If you had taken all that money and put it in the bank earning 5% interest you would have $75,140.18 50 years later (2013). If you returned 6.5% it would be $158,503.85.

Based on information I could find, if you had invested the same in the Dow Jones Industrial Average you would have $610,613, even when accounting for losses (1963-2011).

Oh I never said it was a good investment or even that it was a good idea just that if your aim is to make money on a car that is the only safe way to do it! Even "safe" may not be the right word since the value of collector cars goes up and down like a yo yo!

Just imagine (to lazy to look it up) what you would have if you bought $6K worth of gold in 64!

@Dadhawk Got ambitious and looked up some prices- If you bought $6K worth of gold at the average price of $35/Troy oz in 1964 it would be worth $215,250.00 today.


If you bought the right Corvette you would be looking at about 65K (not subtracting maintenance and up keep even though not driving it) in value today and although they are trending up slightly we all know they could plummet tomorrow!
If you bought the wrong one it could be worth as little as $25K today.

So investment, sure.
Good one, no!

[Dadhawk]

Originally Posted by Tcoat

Oh I never said it was a good investment or even that it was a good idea just that if your aim is to make money on a car that is the only safe way to do it! Even "safe" may not be the right word since the value of collector cars goes up and down like a yo yo!


Just imagine (to lazy to look it up) what you would have if you bought $6K worth of gold in 64!

Gold in 1963 was 35.09 per ounce and today it was selling for $1,227. So, if I'm going the math right, your $6000 (171 ounces of 1963 Gold) would be worth $209,947.


With a commodity like gold is the value doesn't compound over time. With stocks, what started as one share can end up being many, plus you add dividends if you reinvest them so in the end your base can grow as does the price.

[reni]

Originally Posted by mike the snake

I go into all this knowing I'm going to lose money, I'm really good at that lol.

Don't get me wrong, I'm not trying to discourage anyone from getting their dream car. Just don't like to see people get into a situation where they need to sell a car for far more than it's worth. But it sounds like you fully understand what's going on here.

Originally Posted by Tcoat

Just imagine (to lazy to look it up) what you would have if you bought $6K worth of gold in 64!

I got curious... $6200 in gold in 1964 (@$35.10/oz) would be about $217k today. Better than bank interest, but still just a fraction of what the stock market returned during the same period.



Although before the current financial crisis-era spike in gold prices, it would have been more like $47-48K -- practically no better than inflation!

[Tcoat]

Originally Posted by Dadhawk

Gold in 1963 was 35.09 per ounce and today it was selling for $1,227. So, if I'm going the math right, your $6000 (171 ounces of 1963 Gold) would be worth $209,947.


With a commodity like gold is the value doesn't compound over time. With stocks, what started as one share can end up being many, plus you add dividends if you reinvest them so in the end your base can grow as does the price.

Damn we were both at the same thing at the same time! Pretty close in or numbers.


Oh and I was supposed to come and smack you if you started talking finances again (your plan)!


Moose girl is on her way so warn Momhawk!


Just realized we jacked the thread and have now moved from a monthly financial thread to weekly one! @Dave-ROR would be proud!


Sorry OP!

[Dadhawk]

Originally Posted by Tcoat

... Oh and I was supposed to come and smack you if you started talking finances again (your plan)!

Moose girl is on her way so warn Momhawk!

Thanks for the heads-up, but at least this time I wasn't arguing with anyone about being debt free!


Hmmm, Moose Girl.

[Tcoat]

Originally Posted by Dadhawk

Thanks for the heads-up, but at least this time I wasn't arguing with anyone about being debt free!


Hmmm, Moose Girl.

That's her!
At least you weren't arguing debt free yet!
The "cars are a good investment" crowd haven't found us yet.

[Lunatic]

You only live once, if you've always wanted a Pantera then buy a Pantera. Other you will 2nd guess yourself the rest of your life.

[Re~Mix]

Don't seek advice in a JDM Sports Car enthusiast forum expecting them to love your American dreams!

Seeing as cars a tricky investments and who knows where the market will go, its best to drive what you want while you can.

[mike the snake]

My new baby sitting in her new home. I may name her Snow White

[dem00n]

Maaaad!

Congrats on the new car.

[mike the snake]

Thanks!

I still have to paypal the last few bucks to them (I figured they'd budge a little on the price so I didn't bring enough cash) and call Hagerty and get insurance and then I'm going to take my new baby out for my first spin!

I knew I saved my racing shoes for a reason! The footbox area is really small, normal shoes don't work in this car.

Once I have all the last bits of business dealt with, I can't wait to drive the car.

It's got a 10 quart oil pan! The owner said he had 27k into the engine alone, and when I asked him about oil he said he just ran Castrol, so the first thing I'm doing is putting some good synthetic oil, Redline or Amsoil, or maybe Swepco if I decide to use dino oil.

It has Hillborn Injection, so it has those 8 sexy velocity stacks, but I don't dare run the car without the air cleaners because the car sucks pebbles and rocks up from underneath. I'm going to take the air cleaners off for some porn shots though lol.

[Lunatic]

Nice looking car Mike.