Are we throwing money away for our passion?

I got to thinking today... I payed 20k for my cobra, down the road these next year's if I do everything I want to it I'll have 30-40k in it easily but it isn't worth that much even tho it's all there. Am I the only one that thinks like this? I don't plan on ever selling the cobra but it just kinda eats at me to know I'm going to be 40k deep and it will still only be worth 20k

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Yes, Yes we are ......

Lol at 40k. Trying $140k in mods alone. Some I know are 250k. I’m honestly close to 150k since I’ve started modding it with my pops 18yrs ago.

Evil Bender said:

Yes, Yes we are ......

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What he said. If you're worried about investment you're in the wrong hobby. I modify my car for myself not for an investment.

There is no logic, when you are fulfilling a passion. If you can afford to drop that kind of coin into a car, have at it. If you are questioning the why and what for, you probably should reevaluate your goals, going forward.

on my deathbed i hope to be able to say, "over the course of my lifetime, i spent 80% of my money on cars and women. the rest of it i wasted".

=)

absolutely. there are a few cars that can be investments but once you start modding them that goes out the window. do it because you want to do it, not because its going to increase value

Svt_devin said:

I got to thinking today... I payed 20k for my cobra, down the road these next year's if I do everything I want to it I'll have 30-40k in it easily but it isn't worth that much even tho it's all there. Am I the only one that thinks like this? I don't plan on ever selling the cobra but it just kinda eats at me to know I'm going to be 40k deep and it will still only be worth 20k

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I don’t modify mine to get return on investment, I do it for the joy it gives me, which is worth more than any monetary value.

Lol at 40k. Sell it before you start to mod it if you are concerned about the investment.

I stop counting around 60k over the years. Also owned the car for 12 yrs now.

TK1299 said:

I don’t modify mine to get return on investment, I do it for the joy it gives me, which is worth more than any monetary value.

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100%. i go for months sometimes without driving my car, but everytime i take it out i remember why i keep it. i work to buy the tings i want that make me happy and my car is one of those things

it's a car. Not an investment. YES you will lose your my 99% of the time. Just be glad the Cobra holds better value compared to most cars.

Svt_devin said:

I got to thinking today... I payed 20k for my cobra, down the road these next year's if I do everything I want to it I'll have 30-40k in it easily but it isn't worth that much even tho it's all there. Am I the only one that thinks like this? I don't plan on ever selling the cobra but it just kinda eats at me to know I'm going to be 40k deep and it will still only be worth 20k

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Not much different than buying a brand new car and selling it 10yrs later.

Bud that bought a 16 ZO6 was all happy paying 60 cause book was close to 70. Thinks he made money. Lol. No dude, nobody else would pay 70 and it sat there for months at 60.


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I’m a real estate broker, real estate investor, and I also co-own a Laundry business in NYC for passive income. I earn a pretty healthy living and work my tookus off. I won’t say the exact number, but according to a Wall Street journal ranking system I just used via a quick google search, I’m a top 3%-er in terms of annual income.

All of my savings has gone towards my real estate portfolio, growing and expanding that, as well as the laundry company with my partner since both of those are passive income generating investments.

Let’s just say...there’s a reason I own an 8 year old $30k GT500 and not a brand spanking new Z06 or GT350R. Could I afford a $1,200+ a month car payment?? Yeah. But that’s absolutely stupid.

I view my car money as money I could literally light on fire and not care about. It’s all for fun and feeding a hobby.

I don’t throw a lot of money at my car hobby because I’m a penny pincher with my businesses. I grew up quite poor, so I’m doing all I can now in my late 20’s to set myself up for success and freedom later in life.

If the money you spend on your car stresses you out, you need a cheaper car. Not saying that to be a jerk, but cars are depreciating assets. Again, I view my car money as money I could light on fire and not care about. The Shelby costs me about $900 a month between my loan payment, Garage parking, and insurance. That’s money I see as non essential fun spending. It doesn’t stress me out, I barely think about it. That’s genuinely how you should approach this hobby, or just learn to sleep at night knowing - you ain’t getting ANYTHING back that you put into it other than smiles per gallon and life long friends in the Mustang community.


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Its a totally terrible financial decision. But if it makes you happy and you enjoy it. Then its all worth it. As some have stated we have dumped way too much money into our cars. But boy does it put a smile on my face everytime i drive it.

Spending money on your car is just the same as spending money on a vacation or a trip to Disneyland.It’s not a loss because I get fun and enjoyment out of it, I also made sure to buy a car that I want to keep and enjoy. I think it becomes a waste when you switch cars every couple of years.


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Would you rather have some numbers in your bank account? Or use it for enjoyment. I have a LOT of money in cars, but would not have it any differently. Its an enjoyment that all of us enjoy together as a family.

Can't take it with you.

If it makes you happy, who cares. There are worse things to spend money on than you car !!

Terminators still have strong demand all these years later and prices are high for nice pristine examples. A virgin stock car will command the highest $ so mod $ you throw at the car is simply for enjoyment. Consider limiting yourself to easily reversible mods. That way you can return the car to stock should you need/want to sell and recoupe the most $ at sale time.

I do enjoy modding and have extensively modded my 2011 GT500. I haven’t modded any of my Terminators though. I’ve had 3 and sold 2. I did sell the 2 for more than I paid, but they were virgin Mystichrome cars. I got to play with them for awhile and sell them for a profit so they were actually a fun investment.

To most (me included), this is a passionate hobby. I throw a lot of money at my hobby and I’ve had a great time doing it. If you are having fun and can afford it, have at it!

Learn the difference between assets and liabilities.

Most people spend money on liabilities.