Resale: Stock V Modified

[chrisp]

This thread reminds me of a column that a financial guru wrote a long time ago. I can’t recall the author’s name, but his advice to the young was:

Guys, your modified car isn’t an investment no matter how much you have spent on it, and girls, neither is your wardrobe!

 

[DanielSS-V]

I hear you, but mine has 1,300 k’s, Walkinshaw kit with bi-modal, $7,200 plus custom cover $800, plus 3M front end protection $1,400, and more, over $10,000 on top of the car

I've always been of the view that anything like that you do to a car, you had better be prepared to write off the cost when it comes time to sell. If you can't afford to, its best not to do it. If someone gives you a bit extra over the normal second hand price, thats a nice bonus. Personal opinion of course.

 

[markalan1two]

This thread reminds me of a column that a financial guru wrote a long time ago. I can’t recall the author’s name, but his advice to the young was:

Guys, your modified car isn’t an investment no matter how much you have spent on it, and girls, neither is your wardrobe!

i am always mentioning "the family hair-loom" to my wife

 

[VS 5.0]

This thread reminds me of a column that a financial guru wrote a long time ago. I can’t recall the author’s name, but his advice to the young was:

Guys, your modified car isn’t an investment no matter how much you have spent on it, and girls, neither is your wardrobe!

Depends how you define the term "investment".

Of course a finanical guru would have a myopic ROI view, whereas others have a broader view, i.e. investing in personal well being and satisfaction (see my sig quote), whether that be their car, wardrobe or travelling. The poor finanical guru has trouble dealing with that concept coz he can't quantify any benefit in $$$ terms.

 

[chrisp]

i am always mentioning "the family hair-loom" to my wife

The heirloom comment also reminds me of the comment about ‘The Collection’. I think it may have been the same financial columnist discussing the value of ‘the collection’ and aimed at the older generation - we either have or know someone with a ‘collection’. The collection which is going to be worth something one day and possibly fund the kids’ education, or the retirement, or buy the house extension, or maybe the Winbago - it’s the same as the hotted up car and the wardrobe - it isn’t!

 

[chrisp]

Depends how you define the term "investment".

Of course a finanical guru would have a myopic ROI view, whereas others have a broader view, i.e. investing in personal well being and satisfaction (see my sig quote), whether that be their car, wardrobe or travelling. The poor finanical guru has trouble dealing with that concept coz he can't quantify any benefit in $$$ terms.

I agree. Money for money’s sake is pointless.

The comment I quoted is more in line with dispelling the ideal of modifying a car somehow increases its value. Most of the time it doesn’t and it probably does the opposite.

As long as one is doing it for fun and not under the delusion that it is an investment, all is good.

 

[markalan1two]

the only one that benefits my wife hair-loom is the hair dresser and beautician

 

[Holden17]

I've always been of the view that anything like that you do to a car, you had better be prepared to write off the cost when it comes time to sell. If you can't afford to, its best not to do it. If someone gives you a bit extra over the normal second hand price, thats a nice bonus. Personal opinion of course.

Reminds me of the salesperson that tries to sell every expensive extra, telling you how it will add value for resale down the track...go back to the same salesperson 2-3years later to upgrade & they totally ignore any suggestion that the extras may have added value to your trade.

 

[EYY]

Depends how you define the term "investment".

Of course a finanical guru would have a myopic ROI view, whereas others have a broader view, i.e. investing in personal well being and satisfaction (see my sig quote), whether that be their car, wardrobe or travelling. The poor finanical guru has trouble dealing with that concept coz he can't quantify any benefit in $$$ terms.

I can't agree with this more. The missus has mentioned that I'm 'always' working on my car, and hinted that I should get something newer.

But realistically, I do it because I enjoy it. My current daily does everything I need it do despite being a 23 years old. I've come to realise it's not always about having the latest and greatest. So many of my peers got loans for cars they couldn't afford when they were 18, and 5 years on they all say that they regret their decision. Most don't have the same cars anymore either!

On a somewhat related note, I've worked 9 out of 10 weekends over the past 10 years. I've finally told management I'm not interested in working weekends anymore and can't wait to start going away, attending car shows and catching up with people on weekends. Some things are just more important than money!

 

[LS1SS]

I enjoy doing small mods on my cars,I don’t go far with them just good suspension,headers and exhaust,it’s just a personal thing for what I consider improvements that suits me,I store every thing I change to revert back to standard or give to new owner,I have never had problems selling my cars as they are immaculate and new owners have always been surprised I do it that way I give them the option of taking the parts or I revert back to standard for them,like most people I do it for personal taste,if I was worried about the $ or resale I wouldn’t have bought my cars,life is short so enjoy what you have now.