People Over Value Their Cars
[ May 7th, 2008 ] By: Charles Smith Posted in » Ramblings
Since Mark and I have been looking for a rally car, my good friend Dan Summers has been sending me many Craigslist postsings of cars for sale. Just like motorcycles, the hot hatch market is flooded with people who think their toy is worth way more than it actually is.
For an example of overvalued cars: a 1991 Honda CRX with 145,000+ miles on its transmission and engine is $1500, while a 1998 Subaru Legacy with 80,000+ miles is the same price. I’m pretty sure that Honda is a tad overpriced because its “mods” include new spark plugs, red spark plug wires and a cold air intake.
Yet another fine example of overvaluing is this lowered 1994 civic hatchback that is being sold as a “project car”.
Complete with extreme lowering and suicide doors, no running engine, (re)moved gas tank, no seats and about 15 years old, clearly this should be worth a running cruiser motorcycle ($2-4,000+). Overvalued!
I just wanted to let you know about the car market we are sifting through to find a possible deal. Occasionally we find good deals, but the good ones are snatched up before we can grab them (we’re a bit slow). Unfortunately for us, cars are not overvalued if someone is willing to pay the high price tag for them, and many are. Hopefully one of these days we get to post an excited “WE BOUGHT A CAR”, but until then, wish us luck.
May 9th, 2008 at 6:53 am
GET A JOB. RUB AND TUG AT MCPHERSON SQUARE IS $160. AGREE.