I mean for what you get the automobile is the worst investment you can make as far as a purchase. Is there any other product that goes down in value the second you leave the parking lot?
2007-03-19 06:04:10 · 3 answers · asked by j615 4 in Cars & Transportation ➔ Other - Cars & Transportation
A car is an investment in the sense you rely on the tool for everything from travel to recreation. I agree people who bought timeless cars like a 65 mustang made good investments but these are classics. I don't see many classic cars being produced just over produced garbage. A pair of jeans does is easy to replace and does not require repair or gas or insurance.
2007-03-19 06:38:24 · update #1
I couldnt agree more. They are the worst investments. Classic cars are good investments if kept in top condition but as far as a daily driver they really are bad investments. Cars are something most people cant live without though. Off the top of my head I cant really think of anything that looses that much value over time....
2007-03-19 06:13:30 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It depends how about the guys that bought a Shelby Cobra 427SC in 1967 for 6,500? Tell me what it's worth now.
I agree they are generally a bad investment, but you don't normally buy a car for an investment you buy it for a tool. A machine to transport you to the different places you need to go.
I think cars have actually gotten cheaper, as compared to the salary increases over the years. I forget the exact numbers, but it was like a car in the 50's took 7 or 8 months pay to buy. Now it takes less than 6 months salary to buy it. Now these are average cars and average salaries.
2007-03-19 13:16:44 · answer #2 · answered by Fordman 7 · 1⤊ 0⤋
I think cars cost what we are willing to pay for them. So, no they don't cost too much.
I don't see a a single automaker begging consumers to buy their over-priced vehicles.
As far as investments go, who ever said needed transportation was an investment? Nothing that you buy and expect to wear out is ever considered an investment. VHS tapes...not an investment. Designer jeans...not an inverstment. XBox...not an investment. Computers..not an investment.
Just because something costs alot, or requires a bank loan to get, does not make it an investment.
So again, I say no. If folks are willing to pay $25K for a vehicle that is only worth $18K in 3 days, then they don't cost too much.
2007-03-19 13:20:45 · answer #3 · answered by Lemar J 6 · 0⤊ 1⤋