Fox $75k!?

[Deleted member 215073]

I just saw this article... a beautiful car nonetheless.

Ever Seen a $75,000 Ford Mustang Fox-Body?

Nostalgia commands a premium, apparently.

www.thedrive.com

 

[Olivethefet]

Beautiful car, but I dont get 75k. A friend of my dad bought a red 93 cobra and parked it in the garage with the plastic still on the seats. His intent was to never drive it. Sadly he has passed and I dont know what happened to the car.

 

[CarMichael Angelo]

And I was so hoping that this was gonna be a good day...

And then this comes along.

What kind of dilusional buttplug buys a car, then sits on it for 3 decades hoping one day it’ll be worth more money than they paid for it?
These old white guys are the scourge of the hobby...buying up what used to be an “ everyman car” then parking the thing in one of their buildings that they built specifically for storing their old fat white guy cars that they’ll never drive, only so they can turn around and sell them to a newer generation of younger, old white guys 30 years later. And instead of driving the car, they “drive“ the price so far out of sight, the guy that would’ve driven the thing, and actually used it for its intended purpose could never dream of buying it.

Anybody who pays 75 k for that car is not only old, and white...but gay.

 

[Mustang5L5]

That things been on CL for a while now. I routinely browse the Boston CL listing and it's all low-mileage high-dollar cars that don't move. That car is one of them.

Someone with an massively over-inflated northeast salary might pick it up one day, but I doubt for $75k

 

[General karthief]

I guess you would prefer a young skinny kid drive it into the ground after putting flows, turn downs, a noss kit, hideous 20" wheels and a wing big enough to hang laundry on it?

 

[LILCBRA]

I pretty much agree with Mike. It's probably yet another boomer with a get rich quick scheme. And he'll probably have a story on how he earned his way and how a younger guy needs to earn his too, all while denying how his parents forged the way for him.

 

[Mstng93SSP]

My real issue with the article is this. "It's as if someone had just taken delivery of it, but only after picking up a Journey's Greatest Hits tape at the store beforehand. " Journey's Greatest Hits came out in 1996...…..

 

[Deleted member 215073]

And Journey is a terrible band to begin with, same with Rush. He would have been better off saying Metallica Black album.

 

[Potomus Pete]

Still like those rims. Nice to see the oil pressure gauge at the same level as mine. Half way up , but his has two hundred fifty five miles.

 

[Noobz347]

Build Thread - Want To Blow 5 Years And $50k On A Foxbody? Step By Step Instructions Inside!

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www.stangnet.com

 

[Essn95]

I hate seeing cars that were designed to invoke passion sitting in a warehouse and not being enjoyed.

 

[Rdub6]

And Journey is a terrible band to begin with, same with Rush. He would have been better off saying Metallica Black album.

You should appreciate all those bands. Time and place for all!!! I have albums from all three in my collection!
But I believe we have a thread for this somewhere!!

 

[Olivethefet]

I agree that I hate to see a performance car get bought and never used, but on the other hand I'm glad some do. Those are the cars that will hopefully end up in a museum or something so that years down the road pristine examples still exist for future generations to see.

 

[CarMichael Angelo]

And Journey is a terrible band to begin with, same with Rush. He would have been better off saying Metallica Black album.

Ahh .....good to know somebody else hates that squealy front man singing about today’s Tom soyee.

 

[CarMichael Angelo]

Build Thread - Want To Blow 5 Years And $50k On A Foxbody? Step By Step Instructions Inside!

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www.stangnet.com

This guy built a car worth as much as he had to spend on it doing it. Probably the nicest car ever assembled since I’ve been here.

 

[lemosley1973]

I doubt he was old when he bought it, and have no idea what being fat or white has to do with...well anything.

The Cobra was never an everyman car. It was a limited run that was probably going to appreciate at some point. This guy bought it almost 3 decades ago clearly as an investment and it's paying off now. It could have not paid off and the car could be worth less today than what he paid for it.

He took his chances. Good for him if he gets what he's asking. I wouldn't give him 75k for it, but I'm also not his target buyer.

 

[Potomus Pete]

People used to do that. I grew up in a small New England town, and many parents of my friends had classic seventies cars . They bought them new and covered them . I remember Smokey and The Bandit Trans Ams. Mopars with six packs. Brand new Chevells all just covered up in the corner of the barn, or garage.

 

[91TwighlightGT]

The problem is that it wasn't a great investment.

In other words, $20,000 in 1993 is equivalent in purchasing power to about $33,926.64 in 2017, a difference of $13,926.64 over 24 years. The 1993 inflation rate was 2.99%. The inflation rate in 2017 was 2.13%.

Now, put that same $20,000 into the stock market.

Stock Market Calculator | Noel Whittaker

www.noelwhittaker.com.au

Starting January 1993
Ending May 2020

FINAL VALUE $233,000
COMPOUND GAIN PER YEAR 9.52%


Even if he sold for his full asking price of $75,000 he is well behind the stock market. Was the car sitting stored in a garage worth $158,000 of enjoyment?

 

[nickyb]

Wow, I was asked by a skinny P.Rican kid half my fat white butts age why I drove my fox body to work everyday?He said I should keep it in the garage because it's a classic.He keeps his evo and only drives it on weekends.My reply , my reply: I enjoy the crap out a my car, I bought it to drive it and drive it for fun.They'll have to pry my dead ass out of it and get my wife to sell it to them.He never asked again.

 

[lemosley1973]

The problem is that it wasn't a great investment.

In other words, $20,000 in 1993 is equivalent in purchasing power to about $33,926.64 in 2017, a difference of $13,926.64 over 24 years. The 1993 inflation rate was 2.99%. The inflation rate in 2017 was 2.13%.

Now, put that same $20,000 into the stock market.

Stock Market Calculator | Noel Whittaker

www.noelwhittaker.com.au

Starting January 1993
Ending May 2020

FINAL VALUE $233,000
COMPOUND GAIN PER YEAR 9.52%


Even if he sold for his full asking price of $75,000 he is well behind the stock market. Was the car sitting stored in a garage worth $158,000 of enjoyment?

I dIdn't say it was a GREAT investment, but he still came out ahead. The nice thing about a tangible asset is that you still have it if it no matter what.

Imagine if he had purchased a bunch of stock in internet companies - he would have been looking good until about 2000 - when they went to 0. Or if he bought an index fund, which is fine, but sold it when the bottom fell out in 2000 or 2009. Not a great investment then.