Here’s the latest reader question, along with my reply!
Mike asks: I’ve been toying with the idea of selling my Audi and getting something “new” for awhile now, whether it’s a dedicated sports car/tuner or being stupid and going to the Dark Side of a new Wrangler/Bronco. Been thinking more and more – and besides not going into debt, it’s also already sketched out by how invasive Uncle is and all the crap in modern cars to boot (ASS, computers integrated into every little aspect, the $1,500 headlight, harder to repair, etc.) so back to my original plan.
I’ve already asked about sports cars before, already know all I know about modern vs. classics from you, this is more just a thank-you rant. My only problem now is what to get, but I digress. If you noticed btw, sports cars and tuners that used to be dirt cheap are solidly appreciating, you know people are wising up. Also for example, if you had $10k, one could get a Civic, get a B/K series engine/trans, maybe some decent tires and boom, faster and more powerful than most modern cars for thrice as much. Only real question is when would you say would be the best time to look for a replacement toy, as while I won’t be ready for a bit, still would be good to go before the end of the year.
My reply: As a general thing, I think the best time to buy an car is when you have the free capital and the right car comes along. The difficulty lies in getting both to line up! What often happens is the right car – one you really like, in just the right color, with that hard-to-find manual transmission – crosses your path the same week you had to pay your latest tax bill and you’re dead broke. So the car gets away.
The only way I know to avoid this tragedy is to stockpile your cash first, so you have the cash to snatch up the car you want when it becomes available. You can still buy all kinds of neat stuff in overall decent condition for well under $10k – and the basis for a project car (such as an older Civic) for a lot less.
As an example, a buddy of mine knows where there is – according to him – an original and in good condition ’84 Oldsmobile Cutlass that the guy who owns it might let go for $1,500. I would buy this car – if it weren’t for the fact that I need the $1,500 for my Shoulder Fund!
I also think you’re right – that the prices of these still-affordable not-so-Uncled cars will go up, soon.
So start saving up, now!
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