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Red 2007 Super Snake 725 HP 175 miles


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The owner probably bought it for an investment only. That's what I do, buy high and sell low, hasn't worked out hysterical.gif

 

 

 

Cars are a painful lesson in bad investing, when will people learn banghead.gif

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Cars are a painful lesson in bad investing, when will people learn banghead.gif

 

 

I am extremely glad that I bought a 1993 Cobra R #51/107 ("a car") for $40K in 2003 and sold it with a few more miles and no additional costs added over the 5 years ownership for $70K in 2008. I can quote gains on my 2000 Cobra R #21/300 also, which recently sold during this bad economic slump, and both of my 1995 Cobra Converts. w/Removable Hardtop, #14 and 167/499. I did suffer a small loss on my 1995 Cobra R (108/250), but it was minimal in comparision to the large gains of the others. For cars that are not vintage and 30-40 years old, they did very well, for cars, you know?

 

Buy the way, has anyone noticed how well Red bids? I have not seen a Red Super Snake on eBay recently, and then the 725 horsepower, WOW!!

 

R

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I sold 08SS0014 for a PROFIT!!

 

 

 

Did you take into consideration the cost of title, annual registration, insurance premiumns, maintenence (oil/filters/tires/gas), vehicle storage (even your own garage isn't *free*), sales tax you paid, etc. etc. etc.??

 

 

Phill

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Just to add to Roberts post.

 

I sold 08SS0014 for a PROFIT!!

 

So to say cars arent investments isnt competely true. Depends on the car, the seller and the buyer!! Sometimes they all come together!

 

MM

 

 

 

Well historically a good ROI is +10% annually. From my experience 99% of cars won't come close to that after all expenses are added in. But then again im only 35 & I guess slightly retarded since Robert M and soo many others are obviously dominant cars investors.

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Well historically a good ROI is +10% annually. From my experience 99% of cars won't come close to that after all expenses are added in. But then again im only 35 & I guess slightly retarded since Robert M and soo many others are obviously dominant cars investors.

 

 

 

Before the Cobra R's and 1995 2-Tops it was 1971 429 Mach 1's (3 of them), 2-SCJ's, 1-CJ. Each were purchased between $14.5K and $17K back in the 1999-2001 time period and were able to be shown at cars shows so they were not projects by any stretch of the imagination. I sold them for an average of $40-$45K each in the 2002/2003 time period. Again, Great investments, something I can drive, enjoy, touch and smell.<<<Those values (the first two) are not even part of the $$$ gain equation, BUT, I can say that there are many people who have invested in things that give much greater $$$ returns, or so it was thought, now they have nothing except an empty portfolio, or at least one that will take years to recover. The cars, they are still here to be enjoyed during all of the market ups and downs and losses. They (cars) are a nice diversity in a car guys life. You just have to follow the market and know what to buy and when. There are trends just like any other collectible item. I guess my buying and selling of specialty/collector cars over the last 35 years has taught me something!!!

 

There was a mention of taxes, title work, etc. Anything that is of value has these same "costs of ownership". I pay taxes on my house every year, there was a title/deed transfer fee when I bought my house and I use it for day to day living, etc. The cars, they cost to own and I get enjoyment everytime I turn the key are fire the engine, and if I really want some enjoyment value, I will depress the right pedal a little harder than necessary and get a thrill that my house (or a stock portfolio) just can't give me, and when the market takes a dump and my stocks and house have sunk, well, the right foot thrill is still there just waiting..............Nice!!

 

It is all about investment diversity and buying the "right cars" that give an acceleration thrill during ownership and a $$$ thrill at sale time..............

 

Performance sells, it always has!!

 

Your comment was not retarded, I hear these comments often, and then I relate my personal experiences. I agree that most normal daily cars will not bring a $$$ gain at sale time, but their "investment" is gained by the "use" they provide on a daily bases. An "investment" car is a whole different use, or should I say lack of use in many cases. It is an enjoyment.

 

R

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Did you take into consideration the cost of title, annual registration, insurance premiumns, maintenence (oil/filters/tires/gas), vehicle storage (even your own garage isn't *free*), sales tax you paid, etc. etc. etc.??

 

 

Phill

 

Of course I did Phil!

 

We have sales tax. We also have tax we pay every year to get a title. I had it shipped home from SA. I had shipped to and back from Vegas for the bash in 09. I had to pay int. on the loan (didnt have the money to just pay for it) Only change the oil one time. Changed mufflers. The car was STORED on the showroom, so not really any cost there.

 

After everything was said and done I still made a NICE profit on the car.

 

Now like Robert said. How much was the enjoyment of driving the car worth? B and I got to drive it to Disney World. I got to put it in a car show. I was one of only 4-5 Super Snakes at the Bash that year. It was the FIRST car that anyone on here got to drive or really even talk about. I got to KEEP the SS jacket!!! Did I mention I GOT TO DRIVE IT!!!! :hysterical: If I would have broke even or lost alittle that would have been fine. The enjoyment we got from that car was priceless!!

 

I agree that a NEW GT500 or Super Snake is NOT an investment right now, but to say that it WILL never be one is impossible!

 

The owner of the car on ebay planned on keeping the car for his kids! Its NOT the only car he has put up. I think has another car with .5 miles on it!! Thats right 0.5 miles.

 

Ill have another SS or GT350 one day and I wont drive it much, but I will drive it and everytime Ill have a blast!

 

MM

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Of course I did Phil!

 

We have sales tax. We also have tax we pay every year to get a title. I had it shipped home from SA. I had shipped to and back from Vegas for the bash in 09. I had to pay int. on the loan (didnt have the money to just pay for it) Only change the oil one time. Changed mufflers. The car was STORED on the showroom, so not really any cost there.

 

After everything was said and done I still made a NICE profit on the car.

 

Now like Robert said. How much was the enjoyment of driving the car worth? B and I got to drive it to Disney World. I got to put it in a car show. I was one of only 4-5 Super Snakes at the Bash that year. It was the FIRST car that anyone on here got to drive or really even talk about. I got to KEEP the SS jacket!!! Did I mention I GOT TO DRIVE IT!!!! :hysterical: If I would have broke even or lost alittle that would have been fine. The enjoyment we got from that car was priceless!!

 

I agree that a NEW GT500 or Super Snake is NOT an investment right now, but to say that it WILL never be one is impossible!

 

The owner of the car on ebay planned on keeping the car for his kids! Its NOT the only car he has put up. I think has another car with .5 miles on it!! Thats right 0.5 miles.

 

Ill have another SS or GT350 one day and I wont drive it much, but I will drive it and everytime Ill have a blast!

 

MM

 

 

I am specifically commenting on your third from the bottom statement "I agree that a NEW GT500 or Super Snake is...................."

 

If I were to pick apart each and every stock in my portfolio when it goes low, I would drive myself crazy. I keep track of the overall performance and tweak it where it is needed.<<But there is also no "other" enjoyment that I (being a car guy) get out of that stock investment.

 

In this same thought, I am not of the mind that my Super Snake has gained (investment wise) since the day it was completed and is on the upward swing from now on..............BUT, I also look at what cars I have bought and sold in the recent past that has gotten me to the point of owning an $85-$90K Mustang, and how much "real money" I have in that 725 Super Snake. Real money would be the amount of out of pocket $$$ that were spent to buy the 2008 GT500 new, and then send it to the MOD Shop 3/4 of the way across the U.S. for the 725 conversion. If I only use 2 of the 8 cars that I have bought and sold in the past ten years, the Red 71 429SCJ 4spd. drag pack car that I bought in 1999 for $14.5K (total of $17K by the time it was sold for $40K)<<<round numbers $20K+ profit, and then the 1993 Cobra R that I purchased in 2003 for that same $40K and sold for $70K in 2008 for a $30K profit, how much "real money" do I have in that $90K Super Snake?, no where near $90K. I can say that this is not the case with many who have had a conversion done. Currently I am still ahead on my 2008 725 Super Snake.

 

But there is no magic, even the KR guys have realized this..............New cars depreciate, and some dive. The key is, don't get in the "gotta have it now!!" state of mind, once you are hooked into that, it is down hill from there. If you have made "wise" car investment choices in the past where there is a comfortable $$$ cushion from previous profit, the new car depreciation is not such a huge hit. I do not know of any car, or at least any American car that has held its own from the beginning and gained in $$$ from that point on.

 

R

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I have been blessed over the last 10 years or so buying and selling personnel cars! Let take out that Im a sales cars for a living and TRY to make a profit on them.

 

I started out buying used corvettes. I would search starting in November for the couple of year old corvette. It took patience and I wouldnt just jump on any car. Had to be a certain color and certain options. I would then drive the car (very little if you ask my wife) and sell it in the spring. I would PROFIT (after taxes and interest) anywhere from 500-2500 per car! Thats not much, but I got to drive an almost new corvette and someone paid me to do it! Now I got burnt once or twice. Paid to much because of the miles or color, but after thing was said and done I was ahead.

 

I have done REAL well on older cars! First car I ever bought was a 69 Mach One R code. First time I ever used ebay was with this car. I dont remember the exact number, but I think I made 5K on the car! Well I was young and that money was burning a hole in my pocket so I did the DUMBEST thing (well that what everybody told me) a guy could do. I bought ANOTHER car!! I spent $50K on a 69 Boss 429 (Huge amount of money for me then and now) I kept that car 3-4 years and sold it for 85K! (side note-about two months later the car wents NUTS and started bringing 400K!!!) I have had ALOT of quick turn torinos and cougars where I didnt do great but made some money.

 

I guess I said that to agree with Robert. If you took what I made on all the other cars then I REALLY did well on the Super Snake, but as soon as I made alittle the wife bought stuff so I dont guess I can count it!!! :hysterical:

 

My brother in law and I decided instead of buying stocks we would buy cars! Never been able to drive a stock!!

 

MM

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