Crypto reminds me way too much of the mid 2000s. Banks “created” wealth by bundling bad assets together and then selling them to investors. Crypto is “creating” wealth by a glorified guessing game. Pass.

I literally sold my 2018 GTI yesterday for $800 more than I paid for in in 2018. So yeah, now is the time to sell if you have an extra car. 

Sell. Gain money on the sell, don’t pay for registration, parking, maintenance, or any of that until you after this is over and you find a new desirable car.

I’m taking away that your dad owns a plane and rental properties. Not to get into his business but does the $5 or $10k bump over what it ‘should’ be worth really move the needle for him? 

How much did you lose not investing in dogecoin this year?

Taking inflation into account, you’re still underwater on all of those “investments”. Putting money into a diversified stock market portfolio is going to win out against automobiles any day of the week. Those are all selling less than what you paid for them new. Even if you sold one for the same price in today’s…

Maybe your car would appreciate you a little more if you gave it a compliment once in a while. Some flowers wouldn’t hurt either. 

Selling off unneeded assets to pay off debt isn’t a terrible idea.

It’s wild out there. I got a message from the dealership that sold me my (since-sold) Jeep, asking me if I’d consider selling it to them.  I definitely think if you have a spare car sitting around, you should sell it now and pocket the bonus.  But like selling your house, you’ll need to move somewhere afterward.  Cars…

I was waiting for the “if you had just invested in...” comment.

I mean, yes and no. They didn’t actually lose money. They made money, even after inflation. They just didn’t make AS MUCH as if they had invested it somewhere else.

i mean it’s probably not a bad idea to reduce your current financial exposure... tight now we’re definitely in a bubble.. the real question is “when will it pop?”

I suspect much of the “appreciation” is the ballooning of the money supply.  Hang onto your hats when government spending really ramps up.  Hope you don’t have much money in “savings”.

Completely by accident, I benefitted from a shortage in used cars. I had purchased my son a few year old Kia Soul which he managed to wreck and total within five months of purchase. In that five months, though, a hurricane had come through the Gulf Coast and caused a bunch of flooding and whatnot. So there was a…

That would be the case if not for his situation: His alternate modes of transport are an F-150 and an airplane that he owns and pilots. He has worked from home for 16 or 17 years now, and he needs the F-150 for his occasional improvement projects at rental houses. He drives the S600 less than 4k miles per year and…

“appreciable asset”

great example - the Ford GT that sold on BaT last week. the 27-mile, 2005 Ford GT would have cost somewhere around $165K when brand new (it had all four options). it sold for $395K - more than double the price they paid for it! not bad, right? who wouldn’t want to double their money on a car investment?

Counterpoint: he should keep it, drive it and enjoy it. This is not a basic transportation vehicle. It is meant to be enjoyed, not traded as a commodity.

I thought the purpose of timeshares was so you could attend a 2-hour presentation in exchange for some sweet, sweet free Disney tickets?

A used car is an appreciable asset, but it’s not an appreciating asset.