In my line of work, I’m constantly told two things by the general public: All cars are nothing but money pits, and My uncle has a ‘65 Mustang that’ll be worth 200 grand in three years, but I’ll sell it to you for $6500. Both statements are obviously bullshit, but not because cars in general are bad investments—far from it, in fact. Here’s why. Recently, A colleague and Jalopnik writer Doug DeMuro—who definitely didn’t make me incredibly jealous of his car purchase, by the way—wrote that cars are horrible investments for the everyman. His argument, and I’m paraphrasing, boiled down to: In order for you to reap any sort of substantial reward for your financial automotive investment, you’d have to be rich enough to get weekly flaming bags of poop left on your porch by Bernie Sanders. While that train of thought is a popular one and may work in general, it’s dismissive of the people who can and do profit from buying cars based on future values, and I’ll draw on my own experiences as reference. Anecdote, shmanecdote. Investing, whether it’s in a stock that Martha Stewart told you was totally legit, or a Craigslist special ‘85 Maserati BiTurbo… Read full this story
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