So, got to discussing options for daily drivers with one of my mates the other day. Current situation is that interest is so cheap that it don't really matter what the purchase price of a car is. For example, at 2% interest (home loan rate), then $50k car purchase costs you all of $1000 per year in interest.
Now the biggest cost with car ownership (for a daily driver) is usually depreciation. That is unless you buy really cheap. Fuel is cheap and will be for the foreseeable future, ditto interest rates.
So, this got us thinking - why not buy something that has minimal deprecation, don't worry about the purchase price and enjoy winning at driving something worthwhile without owning a car that will 1/2 in value every three years, which is the norm for 'mean nothing' cars.
My immediate thought is to get something that you can't get any more. And so I come to manual V8 cars. Looking at you VF commodes/HSV or FG supercharged V8 falcons/FPV. Price of these should not decrease quickly, and indeed will go up in value after a few more years (maybe 10 more years however). I've done this before about 5 years ago where I owned a VX SS and VZ SV8 (both manuals) as daily drivers for about 2 years each. I lost $200 in depreciation between the two of them! Problem was both those cars were not that great, in fact were not that nice at all to drive to be honest. But they have both shot up in price since then!
Of course, I'm basing this on post covidnomics craziness that we are seeing now. Thinking more like mid next year if/when the hope/reality of vaccines mean silly used car prices are more or less gone.
So hit me up with any other ideas other than a V8 falcadore of the last say 10 years. I like driving Mustangs, but they still available and hence depreciating maybe 5k per year easy. E46 BMW M3 is another thought I have. They're not going down in value any time soon and are peak BMW for mine.
Rules are:
Must be daily driveable and parts etc are simple, easy and cheap enough (I have weekend/race car already - don't need more trouble). So this rules out anything too 'exotic'.
Not depreciating worth a damn (so must be a car of interest to people now and 2 - 5 years hence)
Assumes you have access to cheap money (equity in home loan)
OK, go!
Now the biggest cost with car ownership (for a daily driver) is usually depreciation. That is unless you buy really cheap. Fuel is cheap and will be for the foreseeable future, ditto interest rates.
So, this got us thinking - why not buy something that has minimal deprecation, don't worry about the purchase price and enjoy winning at driving something worthwhile without owning a car that will 1/2 in value every three years, which is the norm for 'mean nothing' cars.
My immediate thought is to get something that you can't get any more. And so I come to manual V8 cars. Looking at you VF commodes/HSV or FG supercharged V8 falcons/FPV. Price of these should not decrease quickly, and indeed will go up in value after a few more years (maybe 10 more years however). I've done this before about 5 years ago where I owned a VX SS and VZ SV8 (both manuals) as daily drivers for about 2 years each. I lost $200 in depreciation between the two of them! Problem was both those cars were not that great, in fact were not that nice at all to drive to be honest. But they have both shot up in price since then!
Of course, I'm basing this on post covidnomics craziness that we are seeing now. Thinking more like mid next year if/when the hope/reality of vaccines mean silly used car prices are more or less gone.
So hit me up with any other ideas other than a V8 falcadore of the last say 10 years. I like driving Mustangs, but they still available and hence depreciating maybe 5k per year easy. E46 BMW M3 is another thought I have. They're not going down in value any time soon and are peak BMW for mine.
Rules are:
Must be daily driveable and parts etc are simple, easy and cheap enough (I have weekend/race car already - don't need more trouble). So this rules out anything too 'exotic'.
Not depreciating worth a damn (so must be a car of interest to people now and 2 - 5 years hence)
Assumes you have access to cheap money (equity in home loan)
OK, go!
Comment