Experience the car or Retain the Value?

[und3f3at3d]

Just interested in hearing some of the opinions of the members on here. If you had a rare car, not talking like super collectibles, but like a low mileage clean ITR, NSX, e30 m3, or whatever.

Would you daily drive that thing? Weekend cruiser? Or park it away only for day insurance when you felt like it to retain value?

[320icar]

One of the other members here said it best.

"It's like not fucking your girlfriend in hopes her next boyfriend will find her more desirable"

[fliptuner]

Utility daily and use the fun cars for nights/weekend/track/show.

I definitely wouldn't be commuting with it - especially since the conditions and worksites is crap.

[smoothie.]

Originally Posted by 320icar

One of the other members here said it best.

"It's like not fucking your girlfriend in hopes her next boyfriend will find her more desirable"

While I understand what they're saying...

For me it's more like: I will bang her, I just don't feel like double fisting her.

[CCA-Dave]

Mile it up! Cars are meant to be driven.

I understand that some people buy them as investments (and, given the last 10 years those investments have been more sound than a lot of 'traditional' types of investments)...but to buy a car and never drive it seems so silly to me. But then, I believe one should enjoy life as much as possible along the way...not just at some future date when you can 'afford it'.

[hud 91gt]

Enjoying it as we speak.

[Dragon-88]

Drive it like you stole it!

[hi-revs]

no point in owning it if its gonna be parked in the garage all the time.

[Mike.L]

there is also no point daily driving an expensive car and putting milage on it while not actually having fun. I face palm when i see an M3 with 80-120k and then just get tossed up for sale because its seen its best days and those days were used to simply commute.

Depends on a lot of factors regardless, but you should still have a beater car. The shorter your commute, depending where you live in the winter time and how often your city salts the road, etc. will depend how often you should insure it for driving to actually enjoy it.

[synchrocone]

A major factor is the number of parking spots you have. 10-15 years ago it wasn't uncommon to see a house in Surrey with half a dozen beat up cars parked on the driveway. Granted, outdoors under even a deciduous tree is not a well protected place for a classic or future classic.

I made a huge mistake 4 years ago when I sold my e30 M3. I compare it to this day with my FR-S. I cringe in the fact that the bmw has doubled in value. I have to admit though, I wouldn't be surprised the bmw still would be more expensive to drive the last 3-4 years compared to my now dinged, battered and mysteriously creaky Scion.

There were a lot of factors why I decided new was better. One is, your going to encounter people that know nothing about or appreciate history. Case in point, I should have kicked out my roommate immediately, when he couldn't believe I paid $15,000 for a car nearly the same age as Blake Lively.

[flagella]

Originally Posted by 320icar

One of the other members here said it best.

"It's like not fucking your girlfriend in hopes her next boyfriend will find her more desirable"

Makes no sense. A desirable rare car in mint condition will appreciate in value or hold value really well if you keep it clean and mileage relatively low, while no man is going to find a girl more attractive because she's been banged less times and her value will depreciate as she ages.

That said, weekend warrior is obviously the way to go because that's the only time when you can take the car away from the city for a spirited drive. DDing the car in traffic is such a terrible idea.

[GS8]

It depends on the car.

In my case I had a Pontiac G8. Only 2200 shipped to Canada in only one year. I daily drove it for 3 years. Regret nothing. Cars don't like to sit around, they like to move just like us. Loved all moments with the car. It was easier to sell the car, thanks to banking 3 years worth of memories with it. You can't put a price on that whether the value went up or down.

On the flip side

If you weekend the car, you're rewarding yourself after completing another week of the grind. You could hate your job, your home, your family, whatever but opening the garage or removing the tarp and seeing your ride all ready for you reinvigorates your body and soul. Fire it up and drive with no destination. Just another moment to savour in your ongoing quest to maintain happiness.

And like in the other scenario, you can't put a price on that whether the value went up or down.

IMO, if you're hoarding a car because of economics and not experience, you're doing it wrong.

[westopher]

There is no point commuting in the car and putting pointless miles on it IMO, but to leave the car parked in the garage is not only a waste, its 99% that it will be a stupid and pointless investment. 911s aside, none of these cars climbing in value have out-accellerated other smart investments, (or even inflation since the market crash,) which don't require insurance costs and the value of a garage space in Vancouver, or worse yet, storage costs. These cars that are climbing in value, are basically just climbing enough to make the maintenance and insurance costs offset. You made 25k in 5 years on an e30 m3 and only drove it 2k? Big deal! You also paid 5-10k in insurance, a couple k fixing random crap on an old car and 5k in storage costs for a car you didn't drive! A car being an investment is an anomaly. Making a few grand off of a car sitting in a garage is a fucking waste.

[ZN6]

If I wanted to look at a car and never drive it, I'd go autoart.

I value a car for its performance, not by the dollar hoped to be recovered after buying it and selling it back out.

I just drive it and maintain it. Age will degrade it naturally any ways and parts can be replaced. I just don't bounce the RPM off the rev limiter, but I do like to wind up the engine on those weekend cruises.

[Zulu]

If you think a car is an investment you're doing it wrong.

[prolepsis]

Is the rare car your only car?

If so, then sure, I'd drive it, whether for weekend drives or the daily grind. Of course, I'd take care of the car and try to keep her clean, but I'd also recognize that all the extra miles will accelerate wear and tear.

If you have a second car/beater car, is this car fun to drive too, or is it boring? If it's decently fun (and not as rare), then I'd probably drive the second car more often, as long as I enjoy driving the car as well. It's also nice to swap cars from time to time, to mix things up a bit.

[westopher]

My car is slowly approaching the "no longer low milage" barrier and the value is going to take a hit, but I can assure you, anyone I've ever shot the shit with, driven with, done a track day with or wrenched with all know I'm getting more value out of my car than if I sold it for double. True wealth is the ability to do what you want, and enjoy it. Some of that is gonna cost you some money.

[prolepsis]

Originally Posted by westopher

My car is slowly approaching the "no longer low milage" barrier and the value is going to take a hit, but I can assure you, anyone I've ever shot the shit with, driven with, done a track day with or wrenched with all know I'm getting more value out of my car than if I sold it for double. True wealth is the ability to do what you want, and enjoy it. Some of that is gonna cost you some money.

Great points. If the car, though rare, or semi-rare, makes you happy, then it's worth it. (Within reason + balance, of course.)

For some folks, happiness = seeing the car parked and not be driven.
For others, happiness = driving the car and building memories/driving stories with the car.

Both approaches work. The approach that's not ideal is when someone would be happy driving the rare car, but doesn't because he or she doesn't want to impact the perceived value of the car. Then this person is missing out, and making sacrifices in thinking that he or she will appreciate the money more so than the driving experience.


On a semi-related tangent, I can't recall the exact study, but I remember reading that people--on the whole--aren't very good at predicting what will make themselves happy. They tend to think x or y will make them happy, but even if they achieve x or y, after a certain period of time, they return to their base level of happiness. Similar to how lottery winners are initially happy, and then after a while, revert back to their previous happiness levels.

[The_AK]

Lifes short, enjoy it.

[TouringTeg]

Many here know I bought a 97 Porsche 911 C4S 1.5 yrs ago with 162kms. It has nearly doubled in value since then! It now has 167kms and I consider it a driver.

Now that the honeymoon stage of owning my dream car has passed, I tend to chose my driving times more wisely so that I get quality drives when I do take it out. (IE early mornings, avoiding rush hour and having time to take back roads).

It has crossed my mind more than a few times that I should sell it or not drive it to keep the kms down. I have a work provided vehicle for daily use and love driving it evenings/weekends when I get some spare time. (Which isn't often with a recently purchased 1939 house and a 1yr old daugher).

Here is a 97 C2S that just sold for well over $100 k CDN with currency conversion and 5%buyer fee. (The C2S is more desirable and it has lower miles than mine)
1997 Porsche 911 Carrera S Coupe | Bring a Trailer

At the end of the day, the car provides more enjoyment for me than having money in the bank.

One thing that I always say is that driving a special car is fun but parking it sucks. Most owners will be worried about damage/theft etc. Your parking situation at work could determine whether you want to commute with it or not.

[underscore]

Originally Posted by westopher

There is no point commuting in the car and putting pointless miles on it IMO, but to leave the car parked in the garage is not only a waste, its 99% that it will be a stupid and pointless investment.

That depends on your commute, if all you do is sit in traffic then you may as well DD something comfy and cheap on gas, but if even a portion of your commute would be improved by driving your fun car then I say go for it.

Investment-wise I agree, if anyone thinks their car is any kind of investment, or isn't using it to keep the value up, then that's a terrible idea.

[BoostedBB6]

Been there and done that. I have owned a few rare cars in my time and I always drive them. I may pick the types of drives I go on. Not a commuter car but rather something to enjoy. Not to say that I have never commuted in them but I usually take them out to enjoy them.
One thing I find with these types of cars, they seem to retain value even with the miles. Main reason is that to get to those miles and still be in good shape indicates a good owner. Someone who does not skimp on the servicing and such.

I'm looking at another weekend car now, something that will fit this bill exactly and believe me, I will be driving it lots.

[jinxcrusader]

I worked a really shitty job last year. My only motivation to get up and get to work was the 20 minute commute I can be inside my car during the drive.

I work so I could afford my car.

[hi-revs]

Id rather save and put the money from buying a "beater" (whatever the price may be), insuring it, gassing it up, maintaining the beater etc into my nicer daily driven car.
Sure ill rack up kms and have the value depreciate a bit, but i'd have much for satisfaction out of my daily driven nicer car ANY DAY.

I've thought about buy a beater for myself many times now over the last few years, infact i still look for one here and there. But once i find one i dont mind putting the money down for, i think of all the places i can put the money towards in my daily driver whether it'd be mods, maintenance, even preventative maintenance.

My 0.2ct is that whatever i put down in total towards owning a beater car, i can easily complete a huge service on my nicer daily driver which should end up running 10x more reliable than a beater.

Mind you if i owned anything close to a Ferrari, i wouldnt be daily driving it...

[Mike.L]

It ofcourse matters what you drive, anything north of 250 horsepower could cost you 50-80 bucks more on insurance even with majority of the discount.

That is enough money to finance a beater, without even considering gas prices.