We’ve all heard it before: “The old car is a great investment.”
The truth is that the old car, after all, is a very, very old car.
You can buy a $1,000,000 Ferrari today, and you might not get it for less than $5,000.
That’s because it’s an automobile, and it’s a very old one.
And you can get that car for just $200,000—a bargain in today’s climate.
So why do we still want to invest in cars that we bought and own as kids?
The answer is simple.
It’s all about affordability.
But if you’re looking for a car to go out and ride on the weekends, that’s another story entirely.
There’s another reason why you might want to stop reading now, though: the cost of maintaining and maintaining maintenance.
We’ve already discussed how the average old car costs between $5 and $10,000 to maintain, which is well below the cost to buy a brand-new car for $20,000 or more.
But the real reason to look at old cars is because they’re built to last, and that’s something that’s difficult to quantify.
It can be hard to quantify the cost-effectiveness of an investment like the replacement of a car’s engine, or the maintenance of a motor.
But a car is no more durable than an iPad or an iPhone.
That means that if you spend money on a car and don’t want to replace it, you’re probably better off getting a brand new one instead.
A $100,000 investment in a brand brand-name car can be worth about $4,000 if it lasts 10 years, and then you’ll only need to replace the engine once.
That cost will likely decrease over time, and the vehicle will be able to handle its own weight and wear without having to worry about engine failure.
This article originally appeared in September 2018.