Cars, new ones at least, depreciate in value the second you drive off the lot in one. This depreciation will slow down after about five years, and stop after 10, after which the car is essentially worthless. At that point the value of the vehicle is dependent upon your care and maintenance of it, the equity you put into keeping it pristine, until eventually the vehicle reaches “classic” status and is worth more as a museum piece. Of course that won’t be until long after you’ve died and left the vehicle to your children, who leave it to theirs, who leave it to theirs, and so on. So, you will never get to enjoy the money of the sale your once-new car after about 50 years of appreciating in value after it becomes a “classic” car.
Maybe, mabye not. If you buy the worst car that is for sale today…and keep it in good running condition by do frequent maintenance, in 30 years you’ll have a very interesting classic.
For example if you bought a Dodge Omni in 1990, or a Chevrolet Citation in 1985, you’d have a very interesting and unique car today.
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What commodities go down? Inflation ensures that that’s not common.
Cars, new ones at least, depreciate in value the second you drive off the lot in one. This depreciation will slow down after about five years, and stop after 10, after which the car is essentially worthless. At that point the value of the vehicle is dependent upon your care and maintenance of it, the equity you put into keeping it pristine, until eventually the vehicle reaches “classic” status and is worth more as a museum piece. Of course that won’t be until long after you’ve died and left the vehicle to your children, who leave it to theirs, who leave it to theirs, and so on. So, you will never get to enjoy the money of the sale your once-new car after about 50 years of appreciating in value after it becomes a “classic” car.
Maybe, mabye not. If you buy the worst car that is for sale today…and keep it in good running condition by do frequent maintenance, in 30 years you’ll have a very interesting classic.
For example if you bought a Dodge Omni in 1990, or a Chevrolet Citation in 1985, you’d have a very interesting and unique car today.
Yeah, but it would only have value to collectors.
I’m talking about inflation adjusted price