Market timing is bad

[drilling]

I have been lurking around here since 2017. Should have pulled trigger back then but i was too dumb, stupid and scared to drop 250k+ on a car. Settled on porsche gt car instead. Now, prices are in 300k zone, i am trying to buy one. Well, should I wait for market to cool or just pull the trigger and stop being a b**ch?

if anyone has lead on 05-06 gt, please help this lost soul.

 

[GT@50]

Just DO it!

 

[Joe Dozzo]

Agreed! If you want a car to drive and admire, bite the proverbial bullet and just buy a GT - I doubt you'll ever regret it. If you're looking for an investment or some sort of return on the purchase (other than miles of smiles), I'd say look elsewhere.

 

[KennethClay]

Somehow, the cars never look cheap. When I bought mine ~ 9 years ago, I was afraid I was paying too much! In hindsight, it now looks cheap. There’s no question that there is asset inflation everywhere, including in collectible autos. That said, given the continuing attraction of analog super cars (and the ever increasing cost of modern super / hyper cars), I think the 2005-2006 FGT values are unlikely to dip much, if any.

Soooo…..if you want one, get one. Life is short!

Kenneth

Ps - given your moniker (Drilling), with oil mostly ~ $70 and natural gas perking up, you should be minting money. Buy two!

 

[jaxgt]

I think it is very hard to properly the time the market. I certainly never do.
If you think of it like a toy, and you have the cash, buy one and enjoy it, rather than wait. Life is short.

 

[extrap]

I'll be 53 soon, aka over the hill, and I feel like 50 was my cut-off between 'planning for the future' and 'OK that's enough, now start livin while ya can', so your age may have something to do with your decisions, although some people make 'start livin while ya can' decisions at a much earlier age

 

[jaxgt]

Only other thought - should really think of most cars as a toy / depreciating asset. It is very hard to predict what will go up in value. I think best to assume all cars will all go down in value after you buy them. GTs tend to go down less than most though at least.

 

[extrap]

Only other thought - should really think of most cars as a toy / depreciating asset. It is very hard to predict what will go up in value. I think best to assume all cars will all go down in value after you buy them. GTs tend to go down less than most though at least.

Yes, and even when they go up, long-term, such as from 2005 to 2020, Vanguard's S&P index fund outperformed the GT's appreciation. And that's without considering any GT costs such as registration, insurance, maintenance, repairs, storage(?), interest ... or potential lower appreciation from actually driving it.

This is based on the total the seller of mine paid Ford on _/_/05 and the total I paid him on 7/29/20, compared to Vanguard's S&P index fund values on those same two dates. The result was close, but the GT was a little behind.

 

[jaxgt]

So true.

 

[PJA]

Sorry but you cannot put a price on ownership!

 

[Shark01]

I guess I’ll be the dissenting voice and advise not to buy anything in this crazy market. Everything is up. I think a FGT at $250k is not a thing of the past. Yes it will be high miles and need TLC but it would still be a good driver’s grade car.

Now I don’t think we will ever see a sub-$200k FGT ever again, even a fixed salvage.

 

[extrap]

I guess I’ll be the dissenting voice and advise not to buy anything in this crazy market. Everything is up. I think a FGT at $250k is not a thing of the past. Yes it will be high miles and need TLC but it would still be a good driver’s grade car.

Now I don’t think we will ever see a sub-$200k FGT ever again, even a fixed salvage.

You're advising he wait, but to what price level? And how long will he have to wait? And what if prices don't come down to your target?

These are all the questions I asked myself before I said screw it and bit the bullet!

 

[Shark01]

You're advising he wait, but to what price level? And how long will he have to wait? And what if prices don't come down to your target?

These are all the questions I asked myself before I said screw it!

He mentioned the $250k figure so that was the basis of my response, and he mentioned being frustrated at the $300k level. It just looked like meeting the current pricing was tough on his budget, which I respect being fiscally conservative as well, plus looking at all the crazy pricing in everything.

And if pricing never comes down to a level one is comfortable with? I would rather not buy anything at all than overstretch.

 

[2112]

Until recently, the FGT was a standout on escalating prices. Now everything is shooting skyward. Nearly any desirable car, real estate, hell, even sundries.

I think it is more about our devalued dollar and that typically does not swing back the other direction once it has occurred.

 

[69b302]

I would buy as soon as possible. Check all sources for cars daily, and have funds ready if something pops up. A GT with mileage and history could likely be had in your price range. If you want a delivery miles untouched car, give up. Procrastination will not serve you well on this hunt.

 

[RPM217]

As someone who manages people's money, for a living, and has much of my assets in the market, nobody, has ever enjoyed, the ups and downs of the markets, as much as they enjoy driving their GT. While the long-term appreciation of the markets is a great source of satisfaction, it has allowed me the pleasure of owning and driving my GT. I didn't buy it to appreciate, it was never meant to be an investment. It would be worth much more than it currently is, if I didn't drive it, but I smile every time i take it down off the lift, start it up, and even when I put it back in the garage, cleaning it, before I put it away, until the next time. The time to buy it, is when you can afford it, find one that passes a proper PPI (Rich Brooks is awesome), and "DO IT". Good luck in your search, the people here are a fantastic resource!!!

 

[extrap]

He mentioned the $250k figure so that was the basis of my response, and he mentioned being frustrated at the $300k level. It just looked like meeting the current pricing was tough on his budget, which I respect being fiscally conservative as well, plus looking at all the crazy pricing in everything.

And if pricing never comes down to a level one is comfortable with? I would rather not buy anything at all than overstretch.

Well put

 

[PeteK]

Coming here and asking if you should buy a Ford GT is liking going to a barber and asking if you need a haircut.

 

[Anderson]

First post here. Having recently purchased one just a couple of months ago after eyeing them for years, I can tell you that I’m absolutely pumped to call one my own. It’ll likely remain in the family so I’m not concerned with near term fluctuations in valuation. Every time I see it, sit in it, drive it - the joy I feel reminds me that I made the right decision. This car fuels emotion with those in it and around it! Hope you’re successful in your search. There’s a lot of great info on here to immerse yourself in. Been quietly reading this forum like a book beginning with day 1 in the tech section. Many thanks to all on here!

 

[Special K]

First post here. Having recently purchased one just a couple of months ago after eyeing them for years, I can tell you that I’m absolutely pumped to call one my own. It’ll likely remain in the family so I’m not concerned with near term fluctuations in valuation. Every time I see it, sit in it, drive it - the joy I feel reminds me that I made the right decision. This car fuels emotion with those in it and around it! Hope you’re successful in your search. There’s a lot of great info on here to immerse yourself in. Been quietly reading this forum like a book beginning with day 1 in the tech section. Many thanks to all on here!

Welcome! I think you’ll agree that once the check is written, the enjoyment begins and you never look back with regret. Just do it !