Price/Collectibilty of Low Mile Cars Vs Drivers & Multi-car Ownership

[jcthorne]

Mine is sitting outside my office window on this beautiful fall day. Even makes being at work more pleasurable. I also know no matter how bad my clients are, today is going to end up on a good note when I go out the the garage and hit the red button that NO ONE ELSE gets to hit.

FAR more value in driving it and using it than letting it sit and deteriorate in a garage unused.

 

[dbk]

I would say if you're looking to buy a driver, then the price and status as a collectable of a low mile car is a moot point. In the short term, cars with less miles in good condition will be worth more than cars with more miles in good condition. No GT will be worthless, as is evidenced by the high prices commanded by salvage title cars. You can buy a GT that's been destroyed and rebuilt with a salvage title and it'll cost you more than a comparable era Ferrari or Lamborghini in pretty good condition.

At the end of the day the GT is just a car. It's not going to outperform the majority of other investments. The difference between two examples of varying pedigree in 30 years is something for people in 30 years to worry about. You said you didn't come away too excited from driving one, and that should be way more important a factor in a decision to buy a sports car.

 

[ByeEnzo]

Buying a car of this calibre, whether a GT, Ferrari, Lambo, etc is more an emotional than financial exercise if you are really in the market. The GT's styling is timeless...I fantasize I'm blasting down the Mulsanne when I'm out on the open road. Most people on this board have investments and portfolios that move up and down daily more than any potential gain or loss in value a FGT could see in several years.

Like a lot of other guys on here I bought a 2nd GT. My modded white/blue "daily driver" has 35K miles on it. I bought it new in 2005. I've driven it to 4 rallies and the Indy 500. 50 plus track sessions at various tracks. I don't have a clue what it's worth. It's fun to go down to my office garage after a hard day at work and fire it up for the 20 mile run home.

My silver car I bought more for car shows and it is a bit if a garage queen. With 5000 miles now on the clock, I actually am nervous about not driving it enough for mechanical concerns discussed above. My 2 cents.

 

[Shark01]

It's not going to outperform the majority of other investments. You said you didn't come away too excited from driving one, and that should be way more important a factor in a decision to buy a sports car.

Investment isn't what I'm after, more like preservation of capital. Would love to buy a new Gallardo for example (458 Italia falls into the same category), but 10% depreciation each year for 5 years ($70k or so) would have me clawing my eyes out. I put up with that on my Porsche Turbo, and it was already 5 years old when I bought it for $70k....now I'm seeing trade ins for $25k seven years later.

Yes, it didn't seem as exciting as the other two cars I drove that day. I hope that was a function of color, fear of its reputation, and the fact that my wife has a thing for convertibles....and to be fair so do I. But my daily is a convertible, so its not a requirement.

 

[Shark01]

Mine is sitting outside my office window on this beautiful fall day. Even makes being at work more pleasurable. I also know no matter how bad my clients are, today is going to end up on a good note when I go out the the garage and hit the red button that NO ONE ELSE gets to hit.

FAR more value in driving it and using it than letting it sit and deteriorate in a garage unused.

Wait, I think someone was telling me about you....you work for Worley, right?

 

[AHudson]

Buying a car of this calibre, whether a GT, Ferrari, Lambo, etc is more an emotional than financial exercise if you are really in the market. The GT's styling is timeless...I fantasize I'm blasting down the Mulsanne when I'm out on the open road. Most people on this board have investments and portfolios that move up and down daily more than any potential gain or loss in value a FGT could see in several years.

Like a lot of other guys on here I bought a 2nd GT. My modded white/blue "daily driver" has 35K miles on it. I bought it new in 2005. I've driven it to 4 rallies and the Indy 500. 50 plus track sessions at various tracks. I don't have a clue what it's worth. It's fun to go down to my office garage after a hard day at work and fire it up for the 20 mile run home.

My silver car I bought more for car shows and it is a bit if a garage queen. With 5000 miles now on the clock, I actually am nervous about not driving it enough for mechanical concerns discussed above. My 2 cents.

A lot of value in your 2 cents! I came from a 512TR that I'd had for 3 years with 34k miles, considered 'high' for that car. When I went for a Ford GT, had same desires for a 'driven' car whose value I'd not ruin for driving. I wanted to drive the car, hence add miles, and add to the ownership experience. My 32k mile Tungsten car is exactly that - a total joy to drive in every way.

The only reason I'm offering it for sale now is to pursue my first color choice, miles be derned. Though I totally understand the pursuit of low mileage cars, any 'discouragement' to driving a GT is off my desired list.

 

[Vince H]

Investment isn't what I'm after, more like preservation of capital. Would love to buy a new Gallardo for example (458 Italia falls into the same category), but 10% depreciation each year for 5 years ($70k or so) would have me clawing my eyes out. I put up with that on my Porsche Turbo, and it was already 5 years old when I bought it for $70k....now I'm seeing trade ins for $25k seven years later.

Yes, it didn't seem as exciting as the other two cars I drove that day. I hope that was a function of color, fear of its reputation, and the fact that my wife has a thing for convertibles....and to be fair so do I. But my daily is a convertible, so its not a requirement.

I believe this is where the breakdown is. The investment and resale value are supplemental to the passion and fanaticism that most of us have regarding our GT's. I find it difficult to substitute out how I feel about the car and only consider it as an investment because it was a dream of mine to own one to begin with. I suspect this is the same issue that most of us struggle with when faced with your question. I have only owned my GT for about 6 months and it is by far the most expensive car I have ever purchased. That being said it was my long time passion and my wife's recognition of that passion that ultimately moved us to buy the GT. Whether the GT rises or falls in value is secondary to the satisfaction and joy of ownership. I realize that must sound cliche but I think for this group it holds true. We are just to emotionally invested in the car and all the bonus' that go along with it. Being a member of this forum alone is unique in my opinion. How cool is it that we own a car that roots to US car racing royalty and a forum network that allows us access to the design team and manufacturing sources. Gentleman such as Mark McGowan, GT Tech and The GT Guys literally had their part in this car’s existence. Heck DBK is Camilo Pardo's personal friend! That is beyond cool. I have not yet meet these gentlemen but I have benefitted from their knowledge (and others) on this forum and am grateful they choose to share. I very much look forward to one day meeting them and that is something in my opinion that is truly unique to GT ownership and only adds to it's mystique. Again more romanticism and passion. I'm sure all of us think you would love owning a GT but none of us want to convince you of that. All the best in whatever exotic car you purchase and I hope you use a bit of passion and sensibility in your decision. “Moderation in all things, including moderation.” My wife's fight and defeat of cancer has taught me and my family that there are not guarantee's in life. Buy an exotic car and take the one’s you love for a drive.

Vince H

 

[twobjshelbys]

Remember that any increase in value over time is offset by the expenses part of owning it - insurance and license fees and taxes if you drive it (up to two years in arrears plus penalties in Colorado if you skip a time, e.g., if you own it, get it licensed (you have to to get a title) and then skip 5 years, they can go back for two of those 5 years).

 

[djs]

"Investment isn't what I'm after, more like preservation of capital."

I don't think you'll take a beating on the GT even if you drive it, because there never will be any more of them, and already, there's a lot less than what Ford made!

 

[FBA]

For preservation of capital, the GT can't be easily beaten IMO. I did buy a 2nd one (yellow '05 with 21.6 delivery miles and still in the wrapper) purely for investment purposes. I could have already made a tidy profit selling it less than a year after it's purchase, but chose to sit on it instead. I appreciate it's artistic value each time I'm in the garage and look at her sitting on her perch, but the one that really gets me, and anyone else walking into the garage, is the one I drive. She's had a fair bit of work done to her and looks a whole lot meaner and ready to rumble. I strongly disagree that over the long term, the no-miles one will not be worth much more than the driver...I think there will be a very appreciable difference in value between the two, but that's just my opinion. It costs me a whole $730/yr to maintain it, as it's not licensed or insured for the street. My only fear is that letting is sit there over the long term isn't great for the vehicle's mechanicals, but I do what I can to help it.

Except for my real estate ventures, it easily outperformed the rest of my portfolio and - I get to look at a piece of art in the garage rather than the usual boring paper and monthly statements.

If I had to have only ONE of these cars...I'd do what I originally set out to, which was to buy a low miles one, and put on 500-1000 miles /year. Even though I now have 2, my driver still only gets 1-2K miles /year, if that. I want it to be a treat each time I driver her...and time between rides does that for me. Not interested in pounding miles on her; that's what my Viper and Z06 are for.

For pure driving enjoyment, there's very little that will touch it, and even less that beats it. I haven't found one yet. It's a monster in stock trim....one that even most Euro-exotics can't touch. It's as rare as a high quality fine jewel, so it garners a lot of attention out there. Smiles per mile, it can't be beat.

 

[Empty Pockets]

My only fear is that letting is sit there over the long term isn't great for the vehicle's mechanicals, but I do what I can to help it.

One case in point; the o-ring seals in the a/c system tend to fail if the a/c isn't used occasionally.

Somewhere around here there's an old thread on that topic.

 

[RPM217]

One case in point; the o-ring seals in the a/c system tend to fail if the a/c isn't used occasionally.

Somewhere around here there's an old thread on that topic.

Is that why you sold yours?:dead::dead::dead::dead::dead::bow

 

[Empty Pockets]

May you experience tranny failure...in a downpour...on a deserted country road...in the backwoods...300 miles from nowhere...at 2 a.m. on a Sunday...on a three day weekend...and may your cell phone be sitting on your kitchen counter.

And may you hear the theme from "Deliverance" playing in the distance.

 

[FBA]

Ouch - that's harsh.

 

[Waxer]

As a wise friend once said to me, you don't buy a car for investment value. You buy it because it moves your soul.

That friend was Bony. Wise words.

 

[BlackICE]

As a wise friend once said to me, you don't buy a car for investment value. You buy it because it moves your soul.

That friend was Bony. Wise words.

Bony was a very wise man!

 

[twobjshelbys]

As a wise friend once said to me, you don't buy a car for investment value. You buy it because it moves your soul.

That friend was Bony. Wise words.

Great minds think alike.

I gave up a long time ago about buying a car because I thought I'd make money [I wish though that I'd gotten the 190sl from my professor] and now measure its value by how much happiness I get when I take it out on the road. I frankly don't care if I make money, break even or lose money on the GT. [In the end I expect the latter and will be pleased with #2 and amazed at #1]. Nevertheless, I sure had a hell of a lot of fun!!!!

 

[roketman]

Bummer if the wife were saving herself for the next guy.

I sure hope not!
Good laugh though!

 

[Kirby Vieira]

There are more things to an investment than monetary which is the reason the GT is the best investment many GT owners will ever make regardless of the current or future sales price. The GTX1 Prototype logged more than 54,000 miles before it was in my garage. It was driven hard by many of the more than 100, perhaps 100's, of people who drove it. I took delivery of it at the Service Dept of a local Ford Dealer because the original clutch was finally destroyed by the last driver during the car's 3rd year. But after the clutch was replaced, the odometer was the only indication of high miles. The mechanicals, power, ride and drive were not far removed from as new. Because of this experience, my prediction is Ford GT's may be offered for sale 20+ years from now in ads stating "like new, only 54,000 miles!" My experience for those with only 1 GT is to drive it often and enjoy it without worry of wearing out anything. There will never be a sane GT owner on his death bed saying he was glad he put so few miles on the greatest car ever made.

 

[twobjshelbys]

So yesterday was garage shifting day. The snow blower was in front of the GT. Backed the GT out to let it warm up a little while I gassed and started the snow blower. Decided to take her for a little "circulate the fluids" ride, and on the way back to home the odo turned 3000 miles. Had to be gentle with no sudden moves since the temp was only 42*F. Now the GT is in the front, battery tender attached and covered and the snow blower is at the garage door. There might be a day or two to take it out again, but pretty much will sit still until Feb or so. Might use the down time to do a X-pipe.