Honestly, I would think that the whole ‘sweat equity’ aspect would argue more in my favor, to be honest… Even assuming you are doing the necessary restoration work or whatever yourself at cost it doesn’t just magically make that ‘value’ disappear, it would just be externalized and distributed (so to speak) over whatever time you’ve spent acquiring the ability to do so, would it not?
I’m not trying to be argumentative necessarily, but keep in mind I’m considering this strictly from the viewpoint of it being an investment with anticipated return over that of an index over 30 years, so I’m not considering the enjoyment or what have you you might expect from a car enthusiast to be a factor. I also am basing my opinion on my feeling the implication in the original reply was that you could go out right now, get whatever car you wanted, drive it for 30+ years and finally still sell it in whatever state it may be in for something like a 5% return on what you originally paid. Do you consider (or preferably could you provide some evidence?) this to be accurate?
See the benefit to hanging out in your garage wrenching on old trucks is that guy wont be there talking about how a Roth IRA would be a far better investment.
Also today I went out and bought an old truck. Lol.
My wife and I have to move in a few months into our new place, then there will be the ikea trips, trips to the dump and landscaping to do so I ran some numbers.
If I rent a pickup 1 weekend a month for 12 months that will cost me $2880 so I bought a $2500 high mile but well serviced truck with registration till december. No ball ache of booking it, going and collecting or returning it. I can get it filthy, scratch it… doesnt matter. Provided it doesnt explode, I am financially ahead.
Honestly, I would think that the whole ‘sweat equity’ aspect would argue more in my favor, to be honest… Even assuming you are doing the necessary restoration work or whatever yourself at cost it doesn’t just magically make that ‘value’ disappear, it would just be externalized and distributed (so to speak) over whatever time you’ve spent acquiring the ability to do so, would it not?
I’m not trying to be argumentative necessarily, but keep in mind I’m considering this strictly from the viewpoint of it being an investment with anticipated return over that of an index over 30 years, so I’m not considering the enjoyment or what have you you might expect from a car enthusiast to be a factor. I also am basing my opinion on my feeling the implication in the original reply was that you could go out right now, get whatever car you wanted, drive it for 30+ years and finally still sell it in whatever state it may be in for something like a 5% return on what you originally paid. Do you consider (or preferably could you provide some evidence?) this to be accurate?
First, we’re talking about buying a vehicle that someone else has taken the depreciation hit on, not a brand new vehicle.
Second, nobody has claimed this will beat a 401k
Third, it’s a shitpost on the Internet. Stop taking everything so seriously.
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You poor thing.
See the benefit to hanging out in your garage wrenching on old trucks is that guy wont be there talking about how a Roth IRA would be a far better investment.
It’s incredible, there is no statement, no matter how ridiculous, that someone won’t take seriously on this platform.
Also today I went out and bought an old truck. Lol.
My wife and I have to move in a few months into our new place, then there will be the ikea trips, trips to the dump and landscaping to do so I ran some numbers.
If I rent a pickup 1 weekend a month for 12 months that will cost me $2880 so I bought a $2500 high mile but well serviced truck with registration till december. No ball ache of booking it, going and collecting or returning it. I can get it filthy, scratch it… doesnt matter. Provided it doesnt explode, I am financially ahead.
Yeah, It doesn’t take long for equipment to pay itself off compared to renting.