Comment on Who needs retirement when you can buy an asset that loses value over time?
Delphia@lemmy.world 11 hours agoYou’re both right.
Most of the time condition is the determining factor, but there are cars that even absolutely fucked, the value is in the vin number. You can cut away 90% of the chassis and body, replace it with steel and patch panels from lesser models, source an engine and an interior and “ship of thesius” yourself a “Genuine” 69 R/T Charger.
Also, you’re disregarding the sweat equity equation. Basic spares and repair parts are usually pretty cheap, wiring and mechanical on an old truck is pretty damn simple and bodywork is reasonably easy to learn and do quite affordably if they are smart about it and have the time to put in.
Restoration shops do manage to stay in business because sometimes people want the car they lusted after when they were 16,the kids have grown up and moved out and they have money… condition is less important then.
alaphic@lemmy.world 9 hours ago
Honestly, I would think that the whole ‘sweat equity’ aspect would argue more in my favor, to be honest… Even assuming you are doing the necessary restoration work or whatever yourself at cost it doesn’t just magically make that ‘value’ disappear, it would just be externalized and distributed (so to speak) over whatever time you’ve spent acquiring the ability to do so, would it not?
I’m not trying to be argumentative necessarily, but keep in mind I’m considering this strictly from the viewpoint of it being an investment with anticipated return over that of an index over 30 years, so I’m not considering the enjoyment or what have you you might expect from a car enthusiast to be a factor. I also am basing my opinion on my feeling the implication in the original reply was that you could go out right now, get whatever car you wanted, drive it for 30+ years and finally still sell it in whatever state it may be in for something like a 5% return on what you originally paid. Do you consider (or preferably could you provide some evidence?) this to be accurate?
Ilovethebomb@lemm.ee 8 hours ago
First, we’re talking about buying a vehicle that someone else has taken the depreciation hit on, not a brand new vehicle.
Second, nobody has claimed this will beat a 401k
Third, it’s a shitpost on the Internet. Stop taking everything so seriously.
alaphic@lemmy.world 5 hours ago
Ilovethebomb@lemm.ee 5 hours ago
You poor thing.