Saturday, July 4, 2015

The Depreciation Angle

If you've been following this blog at all then you know I've been seriously looking to replace my '07 Mustang.  I've been a bit "on the fence" whether to do it with a new Mustang GT350 or get something older.  Lately I've been very interested in getting a DeTomaso Pantera, particularly a 1971 or 72.

Older cars are usually a hard sell to a girlfriend or wife.  They see it as a money hole and something that will constantly be breaking down because it's old.  They are right to think that since that is in fact what usually happens.  What is hard to understand is that some of us find all that fun.  So this often makes it hard to get them on board with the idea of purchasing something older.  However I found an interesting angle.

New cars depreciate!  My $32,000 2007 Mustang GT is today worth about $10,000.  This SUCKS but it's a hard fact of owning cars.  That is unless you get something different.  Something like an older classic collectible car.  Hemmings Motor News often shows these numbers.  See where I'm going with this?  That's right, my girlfriend is completely willing to let a Pantera into our life because I showed her the numbers Panteras have appreciated over the years.  Money talks as they say so I let money do the talking for me.  Later in the day she even brought it up again saying, "It really makes sense to get a car that is going up in value." 

So now the trick is finding a Pantera that meets all my needs.  Maybe there isn't one and maybe I'm too big to even fit in a Pantera (I heard they are very small inside) but that just means I need to find a different classic that is increasing in value.  Or I may say screw it and just get the new Mustang GT350 but at least I now know an angle that makes sense to her and gives me more options into finding my perfect car. 

Pantera Appreciation According to Hemmings Motor News 
2014$60,000
2009$45,000
2004$30,000
1999$29,600
1994$25,000

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