Whenever I speak with friends or acquaintances about car ownership, the investment angle rarely comes up. When it does come up it is usually after I share the fact that I’ve owned or leased more than 22 cars. I love cars, to say the least, and there isn’t a week that goes by without my youngest child asking me what my favorite car is. That’s a hard question to answer. I usually answer with a Toyota Echo for commuting, a VW Camper for weekend ‘get-a ways’ and a Porsche for driving pure enjoyment, though a Lamborghini Gallardo SE would be my ultimate.
Consider the fact that it’s figured that for most people, I’m the exception, will own or lease approximately 10 or so cars in their lifetime and thus will be quite an investment, which few people truly believe, yet is quite true for most in the U.S. at least. The price of an average new car being $15,000 -$20,000 times 10 at a minimum works out to be $150,000 to $200,000. In some areas that’s almost in the range of a home or a goodly portion of one for sure.
Which is all the more reason to do the necessary homework and research to achieve the best value for our automotive needs and car buying requirements. Having good tools when determining a car selection and its fair value is possible with our FREE ‘buying-carguide’. Try it and see if you aren’t better prepared and spend less. Let me know how it works for you.
John (CarGurus Sr)