Who buys a daily driver for an investment

[dlbleak]

There was a time when it ‘could’ have been an investment. My daily in high school.

 

[druryj]

You guys were lucky. Mine...it's not worth a darn today either.

 

[mouthpiece]

I just don't understand why people say "it's a bad investment to buy a new car."
Yes you make money by going to work or using/doing work duties in your vehicle,
but I have never considered a vehicle an investment.
Yes, one vehicle may be cheaper to drive over a 10 year period or whatever, that is just cost of ownership.

 

[dlbleak]

‘Technically’ a car is a luxury and not an investment. My dad had a saying ‘ pay cash for your luxuries and borrow for your investments’. I don’t think he’s ever had a car payment.

 

[crrcboatz]

The old 69 Galaxy 500 XL I ha e is driven 2-5 times weekly. Put some good money up for it so it's no going to draw dust. Times of heavy rain ,ice or snow is all that keeps it in the garage!!

 

[n423]

An automobile is a depreciating asset. As it ages, it loses value rapidly and drastically. There is very little chance of an automobile used for personal transportation will appreciate in value. A reliable form of transportation is essential in order for most people to produce an income.
According to Carfax, depreciation rates on the value of a new vehicle can drop by more than 20 percent after the first 12 months of ownership.
A desirable classic car is completely different.

 

[65ny]

I have a car problem. I've probably had 200 of them in the last 30 years. None of them have been investment worthy but I never cared.......I seem to buy high and sell low anyway.

 

[swampratt]

I only lost money on a couple cars I purchased.
Yea One is still being driven 1995 corolla paid 6,500 for it but traded in a 1989 Escort I paid 800 for and drove it for many years put over 150,000 miles on it and it already had 125,000 miles on it..Dealer gave me $2,500 for it.
My first car 1966 Mustang paid 75 bucks ..yea sold it for much more.
I hit local auctions and have got many daily drivers for 200 and under and sold them for 10x what I had in them.

I may be the exception since I own my own small back yard salvage yard.
My 1957 chevy 4 door took me many miles today and pulls my Pontoon 160+ miles to the lake.
I have $4,500 into it.
I have been offered many times more than that.
Yes you can buy a car as an investment and it can be a reliable daily driver and if you do not crash it all up you can sell it for much more than you have invested into it.

But you must be crafty and find deals.

The 1995 corolla is the only car I ever owned that I had more than 5000 invested into it.
It has saved me a lot of money in fuel costs vs driving some of my other cars I bought and sold for profit that got 1/2 the MPG.

I would sure not want to buy a NEW car that got less than 30 MPG unless it was for hauling and making money and I could not use a current ride to do the same.

NAAAA I would still buy an old truck and build a TQ monster big block if I needed cattle pulling TQ and would sell it for more than I had in it when finished with it.
Stuck a few tweaked 455 olds engines into chevy trucks when I was younger and hauling stuff and doing roofing.
Loaded or empty those 455's would get 15 MPG with J heads A Q jet carb and HEI distributor and NO overdrive.

Super reliable transportation other than the chevy rearends. I usually ended up sticking 9" ford rearends in all my Chevy vehicles.

 

[SoonerP226]

I just don't understand why people say "it's a bad investment to buy a new car."

Because a good investment turns a smaller amount of money into a larger amount of money, whereas a new car turns a lot of money into significantly less money the moment you drive it off the lot, and it keeps right on doing that until you get rid of it (as with everything, there are exceptions to that rule, but they are very few and very far between).

Transportation is a necessary expense, but it's still an expense.

 

[Timmy59]

Bought a 98 Nissan pu for $3k drove it 8 years added 100,000 miles and sold it for $2500, now driving a 2006 civic I paid $2800 for with 85,000 miles I'll sell it in 2-3 years and look for $1500-2000.. Bought the company truck, 05 Chevy 2500, with 203K for $2500, TSC forklift dented the fender, $1500 received for the dent.. Wife drives a 2003 element with about 130K on it now.. The tractor might be looked at as an investment but not the autos.. 3 auto with liability only costs us $66 a month.. We must operate on a budget, shame the Gov can't do it..