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Parnelli Jones Saleen


idareu
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For that purchase price, I think that you are probably going to be good if you can keep it stored for that long of a period. I would not be able to. I plan on driving the heck out of my GT-H and get that kind of return. Well maybe, but I don't care as it will have paid for itself in smiles! My neighbor just bought one of the 19-24 of the Saleen factory supercharged PJ's. I have three other friends who have naturally aspirated PJ's. They are a really neat car. What value will the Roush vs. Saleen vs. Shelby hold? I guess we'll have to wait 20 years to find out. The problem is that there are many folks like you out there who are doing the very same thing. That means the supply of really nice low mile cars will not be extremely low 20 years from now, which in turn may not cause much appreciation. Who knows?

Edited by JeffJ
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Better start driving it. The 12% return is a long shot. Driving it now is for sure fun. :shift:

 

Long shot is an understatement. Let's assume it depreciates for another 7 years at about 10% a year. In that scenario it's worth about $15k then. Maybe, just maybe it'll come back up to where you bought it about 15 years from now. Maybe.

 

I agree with the Torch Man. Drive that sucka!

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Think about this: I'd be very tempted to swap straight across, my '13 GT/Brembo M6, 6,300 miles, for such a Saleen PJ. Then I'd drive the PJ the same way I drive the 5.0: very hard for a few miles on AutoCross courses, pretty gently otherwise. Well, I must admit, every time I sit in the driver seat it tells me it wants to go 120 mph. "I have heard the mermaids singing each to each..." It might be harder to resist, in a PJ.

 

If it's the PJ wheels he's fixated on, I'd throw in my set, which are powder-coated black, for a thousand dollars.

 

Are the wheels on Mr Saleen's 2014 Mustang tribute edition (Follmer) the same wheels? I want another set, to chrome.

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12% in 20 Years? Wow, I was offering 60% returns on a Business I am wanting to start. And it should take a lot less time...........Of course I am needing $50K to $100K to get it going.

 

"Rate of return" implies a yearly return, not total return.

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I purchased a 07 Parnelli Jones Saleen with 2k on it last year for 31k.

 

 

I am palnning on sitting on it thinking it will provide a 12% rate of reurn if I keep it 20 yrs,

 

 

 

What do you think of this move?

 

12% yearly, you're out of your mind. Saleens are not known for anything but depreciation. Drive it or sell it. You have to insure it and maintain it, all said and done you will lose your shirt plus some. Edited by carnut12
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I purchased a 07 Parnelli Jones Saleen with 2k on it last year for 31k.

 

I am palnning on sitting on it thinking it will provide a 12% rate of reurn if I keep it 20 yrs,

 

What do you think of this move?

 

 

Well, you asked. I think it's foolish.

 

Buying a vehicle as a financial investment is not typically a good idea unless you are buying a currently collecable car (such as a '71 Plymouth 'Cuda Convertable). And even then, your return isn't very high. The recent example at Mecham fetched the seller $3.5M but he only made $100K on it. If I invest $3.5M I better damn well make more than $100K on it or I'm gonna fire my investment counselor and get a new one.

 

And don't forget the COST of that investment. Not just the initial cost, but the cost of keeping it and maintaining it.

 

You have related costs such as:

 

A climate controlled storage unit or area.

 

Required regular maintenance (engine oil, transmission oil, rear end gear lube, air filter, oil filter, cabin filter, chassis lubes, tires, etc. etc. etc.)

 

Annual vehicle license & registration.

 

Full coverage insurance.

 

A CD will yield *considerably* more than that over the same period of time. Hell, by the time you pay the maintenance costs on a vehicle, a high yield savings account will pay as much.

 

 

Phill

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You joined this forum an awfully long time ago, and only 140 posts.......???

 

May I ask just what you were driving at that time...back in '07?

 

SIDE NOTE: I came within ten minutes of buying the very same car you describe, for the exact same money, before my current car (see sig pic) and some days I feel like I made the wrong decision. It only had 1500 or so miles on the clock I believe. My intentions were to drive it, and NOT for an investment. I'm like Phill and believe it will not make you any money. The best part about that car (aside from the fact that SALEEN and PJ touched it and it's AWESOME!) is that there are NONE around and it will garner unbelievable comments and conversation! :cool:

 

I sincerely hope that you have a change of heart and drive it! :victory:

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Buying a house or a car for investment hopes other than for their primary function of shelter and transportation is foolish. There is no perfect clairvoyant to predict changes in the economy, weather, wars, regulations, etc. that can affect future value of your purchases. It is economic gambling. We usually hear about the winners, not the losers, except when there is a catastrophic change and there are excessive numbers foreclosures on what people thought was a sure bet second home. Enjoy the purchase and hope for, but not depend on, future financial reward. Go for the ride you can afford.

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Well, you asked. I think it's foolish.

 

Buying a vehicle as a financial investment is not typically a good idea unless you are buying a currently collecable car (such as a '71 Plymouth 'Cuda Convertable). And even then, your return isn't very high. The recent example at Mecham fetched the seller $3.5M but he only made $100K on it. If I invest $3.5M I better damn well make more than $100K on it or I'm gonna fire my investment counselor and get a new one.

 

And don't forget the COST of that investment. Not just the initial cost, but the cost of keeping it and maintaining it.

 

You have related costs such as:

 

A climate controlled storage unit or area.

 

Required regular maintenance (engine oil, transmission oil, rear end gear lube, air filter, oil filter, cabin filter, chassis lubes, tires, etc. etc. etc.)

 

Annual vehicle license & registration.

 

Full coverage insurance.

 

A CD will yield *considerably* more than that over the same period of time. Hell, by the time you pay the maintenance costs on a vehicle, a high yield savings account will pay as much.

 

 

Phill

 

I think Phil is completely on target. I would only add the if you perhaps aquired the vehicle at a lower cost ($24-25k) you might achieve a marginal profit. As they say, buy low, sell high! Modern era Mustangs are terrible investments. Driving it will yield more satisfaction.

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12% yearly, you're out of your mind. Saleens are not known for anything but depreciation. Drive it or sell it. You have to insure it and maintain it, all said and done you will lose your shirt plus some.

I totally agree with that!

 

My buddy bought a Saleen S281 in 2006, loaded with the works,a truly awesome car.

He paid $68,000 Canadian for it. He sold it last year with only 24,000 km on it and it was just as nice as the day he picked it up.

 

Well,as it was stated,he got his ass kicked and only managed to get $35,000 for it.

 

Drive the damn car,that's what it was intended for,if you want to make money,invest it in something else that will probably get you a better return after 20 years!

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  • 2 weeks later...

I have NEVER believed in buying a car just for an investment. Good thing, because I always fall in love with whichever car I am pursuing at the time.

I look at it like this, I buy a car because I love it, and I will enjoy driving it. Of course I will be ANAL about taking care of it, but drive it and show it.

If I still have a car or cars when I check out of this world, my kids and grandkids can either squabble about who gets what (if they want to drive them), or SELL them off and

pocket the $$$.

 

I'm too old to worry about cars as investments.

My retirement is tied up in our Banking system (for what it's worth)....

 

I haven't always felt this way, I guess it comes with AGE....Take care of them, but Drive them like you Stole 'em!!!

 

They aren't FLOWERS...;)

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Where can we get a set of those wheels. The mini-lites are to die for, and I've been looking for something like them for a couple of years.

I'd like another set, as well. It seems to me there was a more recent Saleen Racer Edition that used them, so Saleen must have some in the warehouse, somewhere. Otherwise, you don't often see them for sale.

 

I've had mine since 2007, bought them on eBaY, not too expensive, not many bids, probably because they had been powder-coated black. To my eye, they look just fine, but it would be nice to have a back-up set in silver.

 

The tires I have on them now are Michelin Pilot Sport PS2s with a manufacture date in 2007. Time for replacements.

 

GTCSCblkWhlsULV60_2033.jpg

Edited by Frank S
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I'm not a big fan of the the PJ mustang it just looks blah. I bought the GT500 because I like the style vs regular mustangs. That being said, I agree investing in a car like that is not a good idea, you'll get burned in the end.

I bought my 08 gt500 3 weeks ago, the guy paid 35K for it, put in 17K worth of work (performance, suspension upgrades, stereo etc) in the last 3 years, only to sell it to me for 30K CDN with 15K miles (he went to the US to get it) He put 4K miles on it since he bought it, thinking the same thing, it will be worth more. Boy he lost his shirt LOL I'm gonna drive it for a few years then move on to something else and it will likely still be worth mid 20's.

You'd be lucky to get your money back.

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