I got an email from my best from back home (currently in NY) anyhow, I have a MKIV and my friend was getting one from what I was told (you know how that is) well his parents sat down with him and said he can either A. Take his fathers car or B. Take nothing, from what I understand he has to hold on to the Camaro (his fathers car) for 1 year then he can do what he wishes. The camaro is worth $10k now he said and that his parents said he'll have $20k after the year with only making $4k the whole year from work.

So this is where I come in he asked me if he should ask to take the car and get a rex in it's place. Then he can keep it as long as he wants. Thing is he wants to know if he puts money in it will it be worth more when sale time comes? So he asked me that and also if it would be a good idea to trade in a 2k Camaro with like 50k mi. for an older car that just has been holding it's value. So what do you guys think?

As for me my only question is, do rx-7's become worth more with bpu mods? ex. wheels, aero, minor engine. So like say he gets his $10k RX7 reworks the enigne (we live near pettit and japtrix) heh intake fmic the basic stuff. Then after the year sells the car for like $15k ..? Does that sound realistic based on past examples or similar situations?

Thanks so much!

 

I wouldn't count on it....a car is almost never a good investment...especially a high performance sports car. The only exception would be if you buy one in perfect condition and park it for 20 years...then sell it when it's a "classic".

If you can find a really cheap fixer-upper, then maybe....but you'd have to do all the work yourself, then sell it immediately. Then you might be able to turn a profit.

If he intends to drive the car, I'd say fuhgeddaboutit

Using myself as an example, I bought my '93 stock with 60,000 miles three years ago. I paid 17,000 for it....a fair price at the time. Adding up all the costs, the cost of ownership has probably been $40,000 so far....maybe more. Compare that with what I can get for my car today...it now has 110,000 miles, and is slightly modded with a DP, HF Cat, PFC, J&S, Unobtainium bushings, M2 Toe and Trailing links, ACT clutch and flywheel, turbo timer, and an Autometer boost gauge. In it's current condition, I would be happy to get 13,000 for it, and that might be a bit optomistic. There is no way I will ever get my money out of this car. (Not a complaint, mind you)

As for whether or not your friend should consider a rex instead of the newer Camero...I'd say that he should stick with the Camero. I am basing that only on your statement that he will make $4000 next year. Some people have very little trouble with their RX-7s while others have lots of trouble...and no matter how well you check the car out before you buy it, there is no guarantee that his car will not break. The RX-7 can easily wipe out $4000 in no time...leaving your friend with a really cool car, but no money to hang out on the weekend with his friends. That sucks. If the Camero is a 2000 model, it will likely have a warranty still, so any repairs will come out of the dealer's pocket, not your friend's. If I were him, that is the way I would go.

Hope that helps.

 

Sounds good, I'm gonna try to get him on here to explain everything himself when he gets home from work. As for the $4k that's minimum he makes far more than that. Yet I get your drift, reason I personally even thought it was a sound idea was because a local buddy of ours had a rex he picked up for $12k last year lets say with minor mods because it was already done up simply was just swapped some parts he later sold his ride for $20k easily..

 

Hey, good for your friend! Making $8k is great. It doesn't sound like he had it too long though...if you don't plan on keeping it very long, then you may be able to turn a profit...If you keep it forever like me, then you can just kiss your money goodbye