Restoration cost vs end value - Page 3 - PeachParts Mercedes-Benz Forum

JeffreyNMemphis · #31 03-27-2009, 05:24 AM

Hello Friends,

Thank you for another interesting topic. Your experiences described above make me feel like part of the group.

I drive a 1973 280SEL 4.5 everyday here in Houston. It gets the nods of approval on the road from drivers in newer luxury cars whose annual depreciation is far greater than my total expenditure.

The looks that I get from people driving the lesser automobile brands are similarly approving, though different as if wondering "Is he wealthy or important?". Actually, I am neither. I spent a fraction, maybe 25% of what the guy driving a pickup truck, or 20% of the price soccer mom paid for the SUV/Minivan. It was by choice that I learned about cars and decided what was valuable to me. I did a lot of research to understand what the generations of various make/models require in terms from upfront costs to maintenance and what problems are common to certain model/years.

I was paying $680 per month to drive a Honda Odyssey minivan and getting $320 per month from my employer as car allowance. When I sold the car after two years, I had zero equity. So, I paid about $15,000 to drive a Honda for two years. That is more than double my cost to purchase and maintain my Mercedes over the past two years. So, my car is essentially free from now on, except actual maintenance costs which I would have on any vehicle.

The comraderie of fellows who share our hobby and enjoyment also has value that is difficult to quantify, but I value it.

When I am not driving the Mercedes, I am driving a 1985 Porsche Carrera. I get my Porsche MOJO from the Pelican Parts forum. Pelicans are also talking about value and long term returns on investment, perhaps rationalizing to themselves why? I just love driving the car. I need transportation, but who needs a Porsche? I wanted one, so I bought the best that I could afford and put sweat equity into the car instead of cash. Some people can buy brand new or afford to pay top dollar for the best classic stuff, that was not an option for me. So I enjoy my car and the evidence of its true value is the time I spend maintaining it and repairing anything that is not as it should be. Driving the Carerra is raw and exciting, like your hair might catch on fire. When I feel the need to slow down, I drive the Mercedes.

Life is good...