What's the best way to sell a Cobra now?

[mikemustang514]

Originally Posted by ENTDOC

afraid not Pal, buy for 30K, add tax , tag , gas, inflation, a few chrome goodies, then sell for 30K a couple of years later after adding the ad costs or EBAY fees and lost revenue on the 30K, even if in a money market, and viola: your 30k is now worth 20K. Pretty simple math if you ask me, or anyone with an education. An argument would assume two potentially valid sides, there is only one of those, and it is mine.

I have to disagree here. I bought my car from a private seller, as most of us do; that means no tax. It cost me $23 dollars to get a title and tags. To the DMV these are 40+ yr old cars. Insurance cost me $400 for the year. So I'd be out 30k +$423 bucks.

I don't think you can count gas because regardless of what car you buy you will use gas. Interest rates are pretty low now; $30 in the bank is gonna make you about $50 bucks a month. You do have to maintain the car but if it's a weekend toy there's not much maintenance except cleaning. Maybe the occasional part here or there. Oh yeah, Ebay will cost you about $100 bucks...I know I just had my car on ebay last month.

No matter how you look at it these cars are inexpensive to own. Try to buy a Ferari, register it, and insure it for a year for less than $500...Good luck. Same goes for any car of this caliber. This is why replica cobras appeal to me.

If you buy for $30k and sell for a few though less you are still ahead. These cars cost $300+ per day to rent and I keep one in my garage for much less than that.

Lets see $423/12 = $36 per month, + Gas which is about $100 per month for me. That's $136...call it $150. Add to that the opportunity cost of keeping $30k in the bank ($50...before tax) and your at $200. Then say you lose $2k in value. $2k/12 = $167 per month depreciation. Total it up and it costs you $367 a month for me to drive my cobra. Compare that to $300+ per day to rent one. I'd say its not a bad way to spend money. And, if you can sell for more than what you paid, you might be lucky enough to drive around in a cobra for next to nothing...ignoring the fact that money depreciates over time.