Could I buy a new car and sell it 50 years later?
I love Audi's and I was wondering if it would be a good idea to buy a new one, probably a TT, drive it to my house, and park it in the garage only to reveal it some 50 years later with only about 50 miles on it. I could then sell it for a ton of money or keep it to myself. If I did this would the car even start or remember how to drive after all that time pasted? And would I have to keep it insured if it was staying in my garage?
- Tom VLv 54 years ago
Cars, even those destined to become classics, are usually horrible investments. They are costly to maintain (even if they are seldom driven), and they quickly depreciate until they are next to worthless. Only after a long time do some of them begin to regain value. There are a few rare cars that might have been good investments if the original purchaser had held on to it - the AC Cobra, the original Shelby GT, etc. - but no one at the time could have predicted which cars they would be.
- ChucklesLv 74 years ago
After 50 years the car will need to be taken into a restoration shop and need to be taken apart, have everything oiled as needed and most of the rubber parts replaced. Then after much work by a professional could it be started.
Also, if you plan to store it for 50 years you would raise it off the ground with blocks so the wheels arenot touching the floor and you would put special oil in it
- 4 years ago
- KayleenRLv 74 years ago
yes it would still need to be insured, although if its not being driven yiu should be able to get it cheaper. You would need to start it regularly
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- mccoybluesLv 74 years ago
You cant just park it and ignore it for 50 years. The car would be worthless because every piece of rubber, plastic or fabric would be destroyed by age.
- NeverLv 74 years ago
Chances are, it would be a losing proposition even assuming no cost for storing it. Not to mention the crap that's going to fail just because of age. You'd have to put the car on blocks to keep the tires from dry-rotting.
Stocks, mutual funds are much better ideas for investing. (Not penny stocks, most as scams)
- AnonymousLv 74 years ago
Good luck with that. Even the vast majority of cars from the 80s and onwards are having trouble gaining recognition and maintaining resale value.
- oldprofLv 74 years ago
Let's say you pay $50K for it. And the inflation rate is 3%. For you to get the same buying power as that $50K now the Audi will need to be sold 50 years from now at $223665 in 2066 dollars.
And that's your break even for just the purchase price. Upkeep and maintenance costs, there will still be some even though you don't drive it, are not included in my figure.
And so you need to sell that car for more than $223665 to earn a profit.
But here's another plan. Suppose you invest $50K in an equity fund that is likely to earn 5% per year. (Lots of them do even better.) After 50 years you'll have $605,969.16 in that fund. Just a tad under $400000 more than that car investment.
And no maintenance or upkeep, just a broker's fee each year.
My point, you can do way better than investing in a car. With much less hassle too.