Customs $XX.XX Invested and Selling

Is it really an "investment" when someone says they have $XXXXX.XX invested in a car and they are selling it but they are selling it for significantly less? I just saw a truck in the for sale section and they say it has over $50K invested but selling for around $20K.

When does it go from being an "investment" to just pouring good money after bad?

 

It sounds beter when they go to tell their wife.

 

its called spending while you own the car
its called investment when you try to sell the car

just marketing B.S. to make it sound like you are getting a good deal.

 

It's absolutely an investment. Just not necessarily a good one.

 

They want you to think that you are getting a deal when in all actuality they are probably selling it for what it is worth.

As a rule you don't make money on hot rods and customs you make enjoyment from hot rods and customs.

 

The minute you have to pay someone to do a ton of work on your run of the mill shit box truck or car.

 

Good point. I see people do that all the time. I guess it's just a matter of semantics, but when I "invest" in something I'm at least hoping for some return in excess of the original money put out. Granted, for me, that rarely happens.

 

Invested sounds better than lost.

 

I own some TWA stock, now that was a bad investment.

 

The "tax" man will first laugh at ya, just before he says some ugly stuff...with NO smile on his face. DD

 

What tinbender said - it's all about convincing someone (often yourself) that the money has been wisely spent when often you only get a few cents in the dollar.

 

Sounds like most people nowadays just want something for nothing and some of the sellers are getting desperate.

 

Would it make you happier if he said I "Spent" $50,000 on this truck and am selling it at a huge loss for $20,000 because that's all the current market seems to think it's worth.

What a silly thread

 

Right with ya beaner, life is way too short to worry about making money on what you're building. It would be a business then and that is the last thing I need. At least you'll get something when you sell it to move on to the next one. IMO

 

What Don said 4 sure

 

People say a lot of things. Unless it's substantiated, that's the kind of talk that should be ignored or at least taken with a grain of salt, considering that it's not really relevant to the actual sale of the vehicle. That, along with personal problems, or the car once belonged to a little old lady, Elvis, etc.

The focus should be on what you're willing/able to pay for the vehicle...period.

And yes, this is a silly thread. Right up there with the old guy that won't sell his car.

 

The key to making a small fortune building hot rods is to start with a large fortune.

 

Yeah - like motor sports - turning large amounts of money into noise....

 

my next add will read "i spend $50Gs on my car , $30Gs i spent on hookers and booze!!" will take $20Gs OBO! yeah that will do it!

 

I don't know what the point of this thread is but I know a man who spent over $150,000 on a car that can be had today for $40,000. Bet your ass he knows it was a shitty "investment". But does he care? Not really.

That's why people like us don't understand when somebody says xx invested, selling for x.

 

Not really any different from buying a new car for $30,000 and selling it three years later for $15,000. The owner still had $30,000 "invested" in it.

Jerome

 

invested is the proper term. lets just leave it as is and put this wasted energy into eliminating "Model A 5 window" from the HAMB vernacular.

 

Hot Rods and Kustoms are not a financial investment for a good return.......sometimes even at the biggest of auctions.

Build them for yourself be aware the return may not be there at sell time.

They are usually for the most of us, a labour of love and a GREAT hobby.

 

The point to remember is that most cars are a depreciating asset. In the past I have made money on several cars I built but not sure you can do that is this piss poor economy.

 

I've been dealing with "play money" customers for years and most of them spend pocket money on their rides. In other words this is money spent that you're not supposed to know about. There was a 65 Chevy truck that was custom built here in central Tx for a rich guy with a sizeable ego with over $250,000 cash spent for the build. He recently "let it go" for $20,000. His business went bust so all the toys had to go. Most cars like that involve spare coins and are sold for a loss. I figure they would rather spend money on a toy that will enhance their personality rather than Vegas or fast food.

 

The only way to make money on cars is to buy them low and sell them high without doing any work at all to them. If you buy an old restored/rodded A, T or whatever at a few thousand and turn it over for twice that you just made the best profit percentage you'll ever see. Do that 20 times a year, yes it is possible, and selling your running driving ride at a $10K loss just doesn't make sense...DOES IT?

 

Well it would make sense if you lost everything and had to have the money. Not a good deal but some times you take what you get

 

I have found that usually the money spent on a vehicle can not be gotten back when trying to sell, funny thing is when you dont want to sell it you get offers close to what is invested but when you have to sell you cant get close.

 

Depending on the amount of loss they are taking they are either fools or liers. When I sold my half completed rdstr pu it seemed I could not break even selling it as a whole project with most of the parts found and ready to bolt on. So I took it apart and sold it piece by piece and came out a couple thousand ahead. I was patient and practical about buying the parts for it and did most of my own work. Too many are aprehensive about doing much of their own work and send it all out to someone else and simply bolt it all together. Rod

 

Some asshat on my local Craigslist is asking like $30k for a 1966 Dodge Dart he invested $80k into....

It looks like a great car, although it's only worth about $8000 tops.

No matter how much you spend on it, something is what it is.