View Poll Results: How much did you lose/gain when you sold your modded ‘Vette?
Over $5000 gain
0
0%
$1001 - $5000
0
0%
$1 - $1000 gain
0
0%
Broke Even (pretty much)
0
0%
Lost $1 - $1000
0
0%
Lost $1001 - $5000
2
100.00%
Lost $5001 - $10,000
0
0%
Lost more than Ten Grand
0
0%
Voters: 2. You may not vote on this poll
How much did you lose/gain when you sold your modded ‘Vette?
09-05-2012, 06:48 PM
#1
Melting Slicks
Thread Starter
How much did you lose/gain when you sold your modded ‘Vette?
How much did you lose/gain when you sold your modded ‘Vette?
OK, so you spent a ton of money personalizing your baby. But you have to sell your baby because you’re wife is having a baby (or for some other reason.)
Add the initial cost of your car to the cost of your mods. What’s the difference between that total and the amount you received when you sold it?
.
OK, so you spent a ton of money personalizing your baby. But you have to sell your baby because you’re wife is having a baby (or for some other reason.)
Add the initial cost of your car to the cost of your mods. What’s the difference between that total and the amount you received when you sold it?
.
09-05-2012, 09:57 PM
#3
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I bought my vert new in 2004. Even though I got a great deal due to the C6s arriving on the lots, it was a new car and I knowingly took the full depreciation hit.
I also modified my car to my taste as I plan to keep it the entire time I'm above ground.
I'm OK with this because it's my car, always has been and is now personalized to my taste. It's a hobby that I can afford and not an investment as I define my investments as appreciating assets.
I always laugh at automotive advertising that claim you should "protect your investment" where in reality they should claim "potentially slightly improve your resale value" with our product. If you install a clear bra on a daily driver and drive it 200K miles before you sell or trade, even if the car looks flawless as a result of the clear bra, a similar model car with no clear bra/road rash and only 50K miles will sell/trade for more.
Unless you purchase rare, out of production, classic automobiles, cars are not investments and mods only cost you more over the long run so enjoy them if you install them.
I also modified my car to my taste as I plan to keep it the entire time I'm above ground.
I'm OK with this because it's my car, always has been and is now personalized to my taste. It's a hobby that I can afford and not an investment as I define my investments as appreciating assets.
I always laugh at automotive advertising that claim you should "protect your investment" where in reality they should claim "potentially slightly improve your resale value" with our product. If you install a clear bra on a daily driver and drive it 200K miles before you sell or trade, even if the car looks flawless as a result of the clear bra, a similar model car with no clear bra/road rash and only 50K miles will sell/trade for more.
Unless you purchase rare, out of production, classic automobiles, cars are not investments and mods only cost you more over the long run so enjoy them if you install them.
Last edited by MSG C5; 09-06-2012 at 09:36 AM.
09-05-2012, 10:11 PM
#4
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I'll go off my '00 since I modded it and then sold it.
Initial purchase price was $39.5K back in Dec 2000 and it was a new car. I put approximately $10K in mods on the car over the 7.5 years I had it. Sold it in June 2008 for $22.5K. So, $27000 is the difference. But, normal depreciation played a big factor in that amount. I will say that even though that is a lot of money, I had a great time with the car and knew full well that I would never get a high portion of the mod money spent back.
Initial purchase price was $39.5K back in Dec 2000 and it was a new car. I put approximately $10K in mods on the car over the 7.5 years I had it. Sold it in June 2008 for $22.5K. So, $27000 is the difference. But, normal depreciation played a big factor in that amount. I will say that even though that is a lot of money, I had a great time with the car and knew full well that I would never get a high portion of the mod money spent back.
09-06-2012, 09:42 AM
#5
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I'll go off my '00 since I modded it and then sold it.
Initial purchase price was $39.5K back in Dec 2000 and it was a new car. I put approximately $10K in mods on the car over the 7.5 years I had it. Sold it in June 2008 for $22.5K. So, $27000 is the difference. But, normal depreciation played a big factor in that amount. I will say that even though that is a lot of money, I had a great time with the car and knew full well that I would never get a high portion of the mod money spent back.
Initial purchase price was $39.5K back in Dec 2000 and it was a new car. I put approximately $10K in mods on the car over the 7.5 years I had it. Sold it in June 2008 for $22.5K. So, $27000 is the difference. But, normal depreciation played a big factor in that amount. I will say that even though that is a lot of money, I had a great time with the car and knew full well that I would never get a high portion of the mod money spent back.
In comparison, I know people paying over $500/month to lease, rent, buy cars a lot less exciting than a Corvette.
