Thumb of Michigan | jdironman - 6/25/2022 16:06
I guess I like farmland, other than some liability ins, you are pretty much good to go. You get a income every year, nobody going to steal or scratch it, and you don’t get into trouble. driving a car like that, I would guess will draw attention, some unwanted and that will lead to some other problems. I have zero interest in a car like that even if I could afford it. Classic cars are cool but am happy to look and jump in my pickup and go home.
I guess we do as well. Like farmland, that is. But not as the sole asset.
As I said, other opportunities came up, real estate, but not farmland. And, that worked out OK as well.
What tripped us up on the GT thing was goals. My Dad happened to love cars, I do too. He had found a couple that had all 4 options, that could be bought for just under 140K. Brand new at the dealership. Lot of money for a car, but its a lot of car. If that type of car floats your boat. That price doubled for low/no mile GT's in under 5 years. Anytime you can double the investment in 4 or 5 years, it bears attention. Of course, we had no idea at all where they'd go in value in late 2005, but just felt it was undervalued for what they are.
And, those getting 2X the purchase price 4 or 5 years later were usually squirrelling the cars away in a climate-controlled garage somewhere. We weren't going to do that. It was going to get driven. Neither of us have ever purchased a vehicle as an investment, and never will. Thats where the goals getting tripped up was. If simply buying and holding an investment was the goal, its way easier to buy a deed or a stock certificate and store it in a file cabinet. Neither of us needed another car to drive, we weren't long on shed space that needed something to take up that space. So we passed. Certainly not the greatest mistake I've ever made in my life, but I'd still like to at least drive one.
https://www.motor1.com/news/276385/2005-ford-gt-for-sale/ |
Things ya see at local small town dealerships.
