For us car guys we often have a “wish list” of cars we desire, usually there is some emotional attachment (our dad had that car or it was our first car), or it’s simply a car we have wanted for years.
On many car shows now you see guys traveling to check out “barn finds” (a car someone gave up years ago and stored away), or paying top dollar at an auction for a collectible.
But what about us regular guys?
How far literally and how much should we pay for a dream car?
I have two personal examples to make you think.
One my top cars that is pretty rare is for sale on a lot out of state a few hours away, the car seems fine (in pictures), but its priced considerably more than it’s worth and that recent models have sold for.
I’m talking 25% overpriced, yes the car is rare and in pretty good condition but it’s not perfect. This is car that comes to sale so infrequently we aren’t sure of its real value.
I know the car means a lot to some guys (myself included), but over the last year a couple of these cars at auction did not sell because it was not meeting the reserve price.
Some people think if it’s your dream car and you are not looking to make a profit by “flipping” it that you should pay whatever the asking price is.
But I’m torn between chasing a dream and getting ripped off.
Now I’m realistically months away from any kind of purchase but I don’t think I could do at this price.
I know the car would require some work and I wouldn’t feel comfortable driving it home (several hundred miles), so I’d have to haul it or pay someone to deliver it. Those are things to think about, your added expenses outside of the price of the car.
My other desired car is in the area but it’s been modified a little (has terrible aftermarket wheels and tires), and has a lot of miles (over 140,000), the car looks good but I’ll really need to work on it and sink some money into it. It’s a project at best and a money pit at worst. Now the price is right for the car, though it is at a shady car lot.
This is where common sense goes against following your heart.
Yeah I’d love to have either car but is it worth the risk?
I always refer back to the car shows where you see guys “build their dream car”. But realistically how many of us have the time, money and knowledge to do that?
I’m not criticizing the shows, I love the entertainment value but if this last car needs suspension work because it had incorrect custom wheels on it, I could sink more into that than the car is worth.
My father in law always says “A man should know his limitations”. And I do, most of the time.
I also have a budget for these cars and I know quickly the money can out run the car (or run out), especially if the car doesn’t run correctly.
Maybe this is why both cars remain for sale.
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Filed under: Cars