Discussion about the actual resale value of a Pro-touring car

[GregWeld]

Personally - I'd rather read Investing 102 and put my money into dividend paying stocks that cash flow every quarter... they pay for my HOBBY which are what cars are. LOL

[MaxHarvard]

Originally Posted by camcojb

My opinion is at $60K you expect to see the minitubs, and the work and cost to change it over if they're not done is an issue. Cheaper to do it initially so you're not buying duplicate tires/wheels/rear suspension, etc.

Yep, I think we are in agreement here

[hp2]

If I can buy a new ZL1 for $55k that does all these things, comes with a factory warranty, and can be serviced at any Chevy dealer anywhere, it would take one helluva nice 1st gen to beat the performance per dollar spent equation. What is the nostalgia of the 1st gen body worth over a late model? $10k, $20k, double the new price? If your selling a classic for more than a late model, you have already significantly narrowed your potential market, regardless of the options and performance involved.

[MaxHarvard]

Originally Posted by GregWeld

Personally - I'd rather read Investing 102 and put my money into dividend paying stocks that cash flow every quarter... they pay for my HOBBY which are what cars are. LOL

I'll take any and all stock tips you've got!!

[GregWeld]

Originally Posted by MaxHarvard

I'll take any and all stock tips you've got!!

Buy good businesses and hold

[96z28ss]

Originally Posted by hp2

If I can buy a new ZL1 for $55k that does all these things, comes with a factory warranty, and can be serviced at any Chevy dealer anywhere, it would take one helluva nice 1st gen to beat the performance per dollar spent equation. What is the nostalgia of the 1st gen body worth over a late model? $10k, $20k, double the new price? If your selling a classic for more than a late model, you have already significantly narrowed your potential market, regardless of the options and performance involved.

If you had a 5th gen and 1st gen Camaro and each were purchased at the same price. The new ZL1 will depreciate at a much greater rate than a 1st gen Camaro.
That's what keeps me from buying a new Camaro.

[GregWeld]

I don't think "the hobby" is buying a new car.


And the more I think about the idea of trying to find a good "donor" -- build it - and then try to turn a profit on it... probably only really works for the home hobiest whose labor is free - working out of his "free" garage.

[dhutton]

Originally Posted by GregWeld

I don't think "the hobby" is buying a new car.


And the more I think about the idea of trying to find a good "donor" -- build it - and then try to turn a profit on it... probably only really works for the home hobiest whose labor is free - working out of his "free" garage.

This is what I was considering. I would like to continue to wrench on cars when I retire and this seemed like something that might work. I don't need to make a huge profit. I just want to keep busy doing what I enjoy. Biggest hurdle so far is finding reasonably decent project cars. They are snapped up quickly in this part of the country.

Don

[ironworks]

Originally Posted by hp2

If I can buy a new ZL1 for $55k that does all these things, comes with a factory warranty, and can be serviced at any Chevy dealer anywhere, it would take one helluva nice 1st gen to beat the performance per dollar spent equation. What is the nostalgia of the 1st gen body worth over a late model? $10k, $20k, double the new price? If your selling a classic for more than a late model, you have already significantly narrowed your potential market, regardless of the options and performance involved.

You will be lucky to get 35k for that ZL-1 next year.

[ArisESQ]

Originally Posted by hp2

If I can buy a new ZL1 for $55k that does all these things, comes with a factory warranty, and can be serviced at any Chevy dealer anywhere, it would take one helluva nice 1st gen to beat the performance per dollar spent equation. What is the nostalgia of the 1st gen body worth over a late model? $10k, $20k, double the new price? If your selling a classic for more than a late model, you have already significantly narrowed your potential market, regardless of the options and performance involved.

I can understand your point, but I think the majority of the people here put a much greater premium on the "nostalgia" that you mention. I just don't think it's quantifiable like that.

I've got a first gen Camaro because it's my dream car - not because I can justify the expense over a new Z28.