Paul Walker's amazing car collection
11-30-15, 09:34 PM
#16
Lexus Fanatic
Anybody who has ever done any investing is going to understand that when you have a gain...that gain is taxable.
12-01-15, 03:42 AM
#17
Driver School Candidate
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He has a very dynamic taste in cars. I mean that in the sense that they don't fall all into the same genre (exotic, muscle, tuner, etc). Everything from a Mustang 5.0 to a Ferrari to a Bronco. I've never thought of a stock Bronco as very desirable, but to each his own.
12-02-15, 04:44 AM
#18
every gain can be considered as gain of some kind for tax purposes by the IRS so i don't know what's your point there. i am sure it's still better than sticking the pile of cash under the mattress (when you have a gain).
from what i notice and also what some people say, the new nsx actually makes the old one even more desirable so that's a good thing
i still have my nsx. don't think it's going anywhere anytime soon
50k? this is no ferrari. a huge big time job on the nsx costs about 3k and that's changing most stuff already. insurance? as a daily driver the insurance of my nsx is about 800 bucks a year which is even less than my gs. putting it as a show car and it's really minimal cost. storage is going to be some cost but i doubt it's going to tun that high. doesn't hurt when he has a 5 car garage to begin with.
but then my point isn't on how much the gain is. my point is rich people they know where to put the money and roll on it
from what i notice and also what some people say, the new nsx actually makes the old one even more desirable so that's a good thing
i still have my nsx. don't think it's going anywhere anytime soon
50k? this is no ferrari. a huge big time job on the nsx costs about 3k and that's changing most stuff already. insurance? as a daily driver the insurance of my nsx is about 800 bucks a year which is even less than my gs. putting it as a show car and it's really minimal cost. storage is going to be some cost but i doubt it's going to tun that high. doesn't hurt when he has a 5 car garage to begin with.
but then my point isn't on how much the gain is. my point is rich people they know where to put the money and roll on it
If your vintage Ferrari drops a valve and requires a rebuild on that V12, that's $30-40k out of any potential profit you might have earned. Spend another $50,000 on bodywork/paint, you can see how you can get upside down in terms of value real quick if you don't know what you're doing.
12-02-15, 08:15 AM
#20
Lexus Fanatic
Well if the guy has 4 of them, 4 timing belt jobs(or some other big job) at $3k a pop, 16 tires at $200 a pop, lets say insurance for 4 of them is $1000 a year, he'll have spent about $20,000 in 5 years just keeping them roadworthy. Granted my estimate of $50k was a bit high, but cars cost money even if you don't drive them much.
If your vintage Ferrari drops a valve and requires a rebuild on that V12, that's $30-40k out of any potential profit you might have earned. Spend another $50,000 on bodywork/paint, you can see how you can get upside down in terms of value real quick if you don't know what you're doing.
If your vintage Ferrari drops a valve and requires a rebuild on that V12, that's $30-40k out of any potential profit you might have earned. Spend another $50,000 on bodywork/paint, you can see how you can get upside down in terms of value real quick if you don't know what you're doing.
12-02-15, 05:32 PM
#21
I guess a couple of my hangups with people talking about cars as an investment, is they'll float numbers around how they made $50k selling that old Porsche, just talking about transaction prices. They don't include repairs, insurance, restoration costs, etc which drives me nuts. The secret is to buy somebody else's top flight $100,000 restored car because a lot of times they have more in the restoration than what the car is worth.
And as with all investments, you buy low, sell high. Right now is a terrible time to buy a vintage Ferrari(even ugly and slow 308's are going for stupid money IMO), pre-1974 Porsche, vintage Jaguar, etc. That's if you want to make money. If you just gotta have that car, then that's cool too, but don't be dissapointed when you sell it in 5 years you can't get what you paid now or it sells for the same price.
12-02-15, 09:23 PM
#22
Well if the guy has 4 of them, 4 timing belt jobs(or some other big job) at $3k a pop, 16 tires at $200 a pop, lets say insurance for 4 of them is $1000 a year, he'll have spent about $20,000 in 5 years just keeping them roadworthy. Granted my estimate of $50k was a bit high, but cars cost money even if you don't drive them much.
If your vintage Ferrari drops a valve and requires a rebuild on that V12, that's $30-40k out of any potential profit you might have earned. Spend another $50,000 on bodywork/paint, you can see how you can get upside down in terms of value real quick if you don't know what you're doing.
If your vintage Ferrari drops a valve and requires a rebuild on that V12, that's $30-40k out of any potential profit you might have earned. Spend another $50,000 on bodywork/paint, you can see how you can get upside down in terms of value real quick if you don't know what you're doing.
and regarding your context, i can only say you simply just don't know enough about the nsx. it's no exaggeration when someone says its maintenance cost is the same as civic. i never said cars take nothing to maintain, but you are only over 100% off in your estimation while there is no reason to do big maintenance job (the 3k one) when the car is not driven much
as another example. i put almost 30k miles on my nsx, paid for a big job done, and if i sell it today, i still make money over my original purchase price + all maintenance fees. i think that's enough to illustrate the gain part
12-02-15, 11:57 PM
#23
Lexus Champion
first of all you are still deviating from the main point that investment in cars can be a good move for people in the know. doesn't mean 100k or 50k, it's a gain. i don't know if your point is trying to wash down the gain on the person i know but i see it as pretty pointless.
and regarding your context, i can only say you simply just don't know enough about the nsx. it's no exaggeration when someone says its maintenance cost is the same as civic. i never said cars take nothing to maintain, but you are only over 100% off in your estimation while there is no reason to do big maintenance job (the 3k one) when the car is not driven much
as another example. i put almost 30k miles on my nsx, paid for a big job done, and if i sell it today, i still make money over my original purchase price + all maintenance fees. i think that's enough to illustrate the gain part
and regarding your context, i can only say you simply just don't know enough about the nsx. it's no exaggeration when someone says its maintenance cost is the same as civic. i never said cars take nothing to maintain, but you are only over 100% off in your estimation while there is no reason to do big maintenance job (the 3k one) when the car is not driven much
as another example. i put almost 30k miles on my nsx, paid for a big job done, and if i sell it today, i still make money over my original purchase price + all maintenance fees. i think that's enough to illustrate the gain part
One of these days I'll have another NSX in my garage!
12-03-15, 12:37 PM
#24
I don't like posting on here as much because there are many members who will post about every vehicle like they are experts about them. My knowledge isn't very extensive, but there are a handful of cars and trucks that I have a lot of experience with, and I swear the info on here about these vehicles couldn't be more wrong.
One of these days I'll have another NSX in my garage!
One of these days I'll have another NSX in my garage!
you got me into this game bud!i will be honest and say i will feel the pain if i were to own a gt3 or ferrari and deal with all the insurance and maintenance. but with the nsx i literally feel nothing. that's the difference
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