Hirst
Posted a lot
This avatar is inaccurate, I've never shaved that closely
Posts: 3,930
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Jan 28, 2009 12:05:09 GMT
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My opinion is that if you're going to have a load of money tied up in something, you should enjoy it. Whether that be cars, artwork, antiques, etc. If you buy something you like in the hope that it could be a great investment and it doesn't turn out to be, at least you've still got something you like at the end of it.
It actually frustrates me to think of how many things (not just cars) are being hoarded away unused and unappreciated.
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GJM
Posted a lot
Alloy engines; like communism- great in theory.
Posts: 1,393
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Jan 28, 2009 15:00:14 GMT
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I like to think classics can be a good investment. I brought an Imp just under 5 years ago for £700. Talked to a few people including a couple of comittee members the the Imp Club ltd who said that was about the right price, maybe a hundred too expensive. All i did was wash it, polish it and drive it as my daily driver for 2 years paying for service items and a few other bits, had front brakes overhauled etc. 3 years after buying it, had it valued by the same two commitee members at around £900-£1500. I sold it for £1800. A mint low milage Imp came up on ebay before x-mas and made upwards of £3000. It can be done, just have to find the right car at the right time.
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Jan 28, 2009 21:51:30 GMT
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:)I bought/saved my cars to invest in my happiness, not as a financial investment. Just as well looking at the state of some of them!
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Shortcut
Posted a lot
I won't be there when you cross the road, so always use the Green Cross Code.
Posts: 3,037
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Jan 28, 2009 22:31:14 GMT
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I don't know about investments but when I see an E39 BMW M5 with FSH go through the auction for £4200 it makes me think I should buy it, run it for a month and sell it for a small profit. The dealers are all chasing small efficient cars just now so there's some serious bargains on the go if you want something with a bit of muscle. Other unpopular stuff: 2003 E42 M3 for £10,000 02 Lexus RX300 with 90k on it £2700 51 Plate BMW X5 with 69k on it for £6000 Y Reg S320 with 120k for £3100 Good point but none of those are investments, they're cheap toys and will lose more money before they get anywhere near being stable imho. Wasn't there a report recently that those Audi 4x4 models (Q7?) are losing a grand a week on dealer's forecourts? Tbh there's not one of those cars in that list that are woth having, maybe the Merc but the huge hits on horrible monstrosities like X5s will scare everyone considering buying a big car witless anyhow. Drove past our local VW dealership last week. Brand new Toureg parked outside in car of the week spot. Was £47,000 now £21,000 that a saving of £25,000 on the list price. Insane.
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This space available to rent. Reach literally dozens of people. Cheap rates!
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Jan 28, 2009 23:26:14 GMT
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What's this recession I keep hearing about?? I sold my car 2 weeks ago for £2k more than I paid for it 9 years ago!! Didn't buy it as an investment, bought it because I loved the car. Loved owning it, loved the money I made selling it! WIN!!
My tip for making money with motors: LHD cars have always sold cheap in this country because no one wants them/prejudice against them (personally I love LHD cars!)
Now that general car prices are low, think how low LHD prices are over here......
Buy up lots of tidy hacks and flog them to the Europeans. With the weak pound, they are loving what their Euro gets them over here. Take advantage of that and make some good turn-arounds.
Look for the bread & butter stuff - Golf's, Civic's, Focus etc....they are about, they are cheap and they will make you money.
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