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1970-01-01 5 days ago

Exception being those buying new cars, leaving them in storage for a decade or two, and then selling them at auction for 10x.

randerson 4 days ago | parent | next [-]

Even then, it is rarely a good economic decision. Its hard to predict which cars will rise in value that much (unless you're spending $800K+ on some invite-only limited-run hypercar). The storage and insurance add up. It'll invariably need repairs after that time, which can cost a fortune on a limited run car. The opportunity cost will be investing that money in the stock market, which is much more likely to 10x your money.

ponector 5 days ago | parent | prev | next [-]

I'm curious how much you can get for a brand new 2005 Corolla. And don't forget to add storage costs.

1970-01-01 5 days ago | parent [-]

They're not doing it with Corollas. They're doing it with Porsches and other sports cars.

ForOldHack 5 days ago | parent [-]

Exactly what Tesla first did. Well, they a first did not have an existing ICE vehicle and based the styling off a Lotus Elise sports car.

prmoustache 5 days ago | parent [-]

They didn't based the styling only. They were using gliders[1] built by Lotus.

[1] chassis+body+suspension basically a car without powertrain and interior trim

yen223 5 days ago | parent | prev [-]

Over a decade, that storage space will 10x more reliably than the car