I feel the same way as Andy regarding my '70 Midget. It's fun to fix up in my
spare time. It's fun to drive when it is working. It'll never be a primary
method of transportation for me. I'll never consider it an investment.
I insure the car for ~200-250 dollars a year. If I got hit and the car was
totalled the insurance company would probably give me $1k if I was lucky for
the car. Even if I could sell it on the private market for twice that it
wouldn't matter to me a whit. I wouldn't want to insure it for replacement
value because it's not worth it to me to pay the extra insurance for it.
If you were going to invest your kids college money in a car would you drive it
everyday and risk having it totalled or stolen and get back 1/2 of what you
payed for it from the insurance company? Or would you insure it for replacement
value at a hefty premium cost ? or would you let it sit in a garage decaying
away and just shine it on nice sunny days ? I'd rather invest the money
somewhere else.....
IMHO cars are meant to be driven and enjoyed not invested in....
This is not meant as a flame.....
Metz
Digital Equipment Corp
Maynard, Mass
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