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  #1  
Old 02-19-2007, 07:37 AM
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What's your car worth? And what's it worth to you?

Anybody else feeling the discrepancy between what your car is worth on the market and what it's worth to you.

I'd like to sell my SLC and get something a little more friendly to my bad hips and back. If I put it on the market here, I bet I'd have trouble getting $3K. This is with a total of 69K miles on it, and 16 years of records from my ownership.

OTOH, I probably wouldn't take less than $7-8K for it, because in my mind, that's what it's worth. I've learned to overlook all the little things that I'm sure would bother someone looking at it. And since I drive so little, I don't want to keep her around as an extra to put 500 miles a year on her.

I know there is a bigger discrepancy between newer cars as well, but I'm not wanting to get rid of my 99ML430, so I'm not thinking about it.

Do you folks feel the same way about your cars?

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  #2  
Old 02-19-2007, 09:03 AM
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Years ago, I've gotten a grip of reality and followed a couple of rules:

1. Cars are NOT an investment...no matter how much you put in, you won't get it back out!

2. Unless you can always buy brand new with cash, you will never beat the endless cycle of choosing between trading up for newer car payments or paying for endless repairs on a aging, but paid-for car.

That said, I've chosen what I consider some of the most robust vehicles made that I could truly consider owning long term without car payments for at least a few years.

I have a non-running VW (that I could get running), that I put $12k in when I restored it for car shows. It only took a couple of years of neglect to watch it erode back into junk.

My W124 has a blown head gasket and a slipping tranny. Book shows it's worth maybe $3K (if the powertrain was sound). Would cost at least that to fix it. I know it wouldn't get much if I sold it, but I'd rather bite the bullet now and keep it running for a few more years than having to face the reality of another several years of car payments for something that would probably cost even more to fix in the long run.
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  #3  
Old 02-19-2007, 09:15 AM
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There is very little in my inventory or "stuff" that is worth as much to others as it is to me. Nothing, perhaps. That seems to be the way of things in general, though.

With cars, you just have to decide if you can derive enough enjoyment from the to justify what you spend on them. If it's "yes," then have fun and don't worry about it.

If, one day, somebody offers you what you have in your car or even more than that, then you are truly fortunate!
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  #4  
Old 02-19-2007, 10:22 AM
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Oh yeah I'm way upsidedown on the SDL. I could probably get $6k for it I have 2-3 times that into it and climbing. I don't care a car is not an investment.

I'm in sales so I don't really have trouble pricing things. Whatever you own is only worth what a buyer is willing to pay. It doesn't matter what you think its worth, or what you owe on it.
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  #5  
Old 02-19-2007, 10:29 AM
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5000.00 for a 1990 420 SEL
8000.00 for mechanical repairs and many trips to Hefs Garage
3000.00 for body work

Ownership and driving pleasure of a Mecedes: PRICELESS
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  #6  
Old 02-19-2007, 10:30 AM
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Yeah, Hat, those were some of my dad's words of wisdon. "A thing is worth whatever someone is willing to give you for it."

As you know, value is seen differently depending upon one's perspective. If you're in business to sell things, you (hopefully) have a more hard-nosed, less sentimental view of things. If not, you won't be in business for long. If it's personal, a hobby or something like that, value is different.
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" The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do."- Warren Buffett

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
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  #7  
Old 02-19-2007, 10:32 AM
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I know exactly what you mean!

When my 300E was rear-ended a few years ago, I wanted it fixed. The car was mint, ran perfectly, and I didn't want to give it up. The insurance company initially stated that the car was a write-off, due to the book value.

I asked for a re-appraisal and they sent their appraiser down. He agreed that the car was definitely worth repairing and the claim went through.

Even now, as I'm selling my trusty 300E, I think how the car is still worth a lot to me. It's a great car - with a few nagging issues - but like you stated, I overlook those in favor of its dependability.

However, I know I'll only get a couple of grand for the car, tops...
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2007 E550 4Matic - 61,000 Km - Iridium Silver, black leather, Sport package, Premium 2 package
2007 GL450 4Matic - 62,000 Km - Obsidian Black Metallic, black leather, all options
1998 E430 - sold
1989 300E - 333,000 Km - sold
1977 280E - sold
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  #8  
Old 02-19-2007, 10:37 AM
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This is probably why a lot of people end up holding on to stuff they should just get rid of. "Things" get freighted with all sorts of cosmic stuff that makes it hard to let go sometimes.

I look at the stuff around my house and many of my favorite possessions are symbols of something else. I look at my cars and I see all the hours of crap I put up with at work in order to pay for them. Sometimes that's hard to overcome. I'm trying to do better, though.
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" The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do."- Warren Buffett

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
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  #9  
Old 02-19-2007, 11:48 AM
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I see this all the time. Just look on Ebay, or autotrader people think there cars are worth more than they are. When I used to look at the MB adds in the local paper I'd see the same MB's in the paper for over a year in some cases. They would start out at twice what the car is worth, and over the course of a year maybe come down 25%. I just don't understand that kind of thinking, if its for sale sell it, if its not don't waste everyones time.

I price things according to the market, when something is for sale I want it gone.

Here is another piece of wisdom I picked up. "You always think what you own is better than the next guys, so its worth more right? Wrong 99% of the time"
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  #10  
Old 02-19-2007, 11:49 AM
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$3,000 ... for sale all the time
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  #11  
Old 02-19-2007, 12:16 PM
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Cars not an investment?? Apparently ya'll didn't watch any of the Barrett Auction.
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  #12  
Old 02-19-2007, 12:52 PM
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Quote:
Originally Posted by Surf-n-Turf View Post
Cars not an investment?? Apparently ya'll didn't watch any of the Barrett Auction.
I'm still sick, i had at one time a pristine 68' Cuda with a slant 6.......steady, steady...
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  #13  
Old 02-19-2007, 01:38 PM
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Quote:
Originally Posted by Surf-n-Turf View Post
Cars not an investment?? Apparently ya'll didn't watch any of the Barrett Auction.
I watch Barrett-Jackson all the time! We're not talking limited-production vehcles here. I haven't seen any W124 bodies rolling up the platform fetching $300K either!

For that matter, even if I did a full-blown body-off, rotisserie restoration on that car and put it on eBay, it would STILL fetch $3K!
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  #14  
Old 02-19-2007, 01:43 PM
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Just remember that cars are cheaper than therapy.
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  #15  
Old 02-19-2007, 01:47 PM
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Quote:
Originally Posted by Hatterasguy View Post

It doesn't matter what you think its worth, or what you owe on it.
No kidding? I've never heard or read that ANYWHERE else. I enjoy these little pearls of wisdom from you, you're so BRIGHT!

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