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04-25-2014, 02:22 PM | #1 | |
AF Regular
Join Date: Jul 2006
Location: Syracuse, Utah
Posts: 249
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Buying a classic car as a DD
I'm curious what everyone's thoughts are on buying an old car as a daily driver. *I've been wanting to buy an old Datsun S30, (240z/260z/280z), and where I live, about $10k will buy one in pretty
decent condition. (not show quality or numbers matching, but pretty decently restored) I'm an ok weekend mechanic, so I can do most maintenance myself, and my commute to work is only about 10 minutes each way, so gas mileage is not a huge concern (not that old Z's get that bad of mileage). *I also still have my beater Ford Escort for winter use, so I can feasibly go without driving it in bad weather. *I guess my thoughts are more centered around the financial aspect of it. The way I see it, let's take two different scenarios. Let's say I take my $10k, and drop it on a used late model sedan (Ford/Honda/Toyota/Hyundai/Kia/Chevy, whatever), with say under 30k miles on it. I drive it for 5-6 years, and then sell it. *I'm probably going to end up selling it for at least $3k-$4k less than what I paid for it. *So let's say my cost of ownership after selling the car is around $3,000. Let's say I plunk that same $10k down on a nicely restored, good quality 1972 Datsun 240z. *Miles may or may not make a huge difference, but let's just say it's got 150k on the clock. * I maintain it, take good care of it, drive it for those same 5-6 years. Chances are depending on the market, that I will sell it for around the same amount I paid for it. *I will spend more money on maintaining the Z, but not a huge amount (assuming there are no catastrophic failures). *Let's say I spend $1000 more on maintenance in those 5 years than I would on the newer car. But the way I see it, I'm still spending around $2k more on a newer car than I will on the old one. *Is my justification flawed? p.s. *Yes I would love to restore it myself, and may do that one day down the road, but at my age and phase of life (kids), I can't afford time or money to do that right now, so I'm looking at buying a turn key car.
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Current Vehicles: 2008 Nissan Altima ~ 115k miles 2010 Nissan Maxima ~ 74k miles 2007 Toyota Sienna LE ~ 145K miles Goners 1997 Ford Escort ~145k miles (SOLD) 2013 Kawasaki Ninja 300 ~13k (SOLD) 1983 Honda Magna V45 ~13k (SOLD) 2004 Mazdaspeed Miata ~90k (SOLD) 2001 Ford Mustang GT ~86K (SOLD) 2007 Suzuki Boulevard M50 ~12k (SOLD) 2001 Nissan Maxima - (TOTALLED) 2001 Oldsmobile Intrigue (SOLD) 1991 Nissan Maxima (TOTALLED) 1989 Pontiac Grand Am (SOLD) |
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