Exotic Machinery at Common Prices
Anyone who can afford a new mid-sized or American luxury car can drive some of the world's most exotic and sought-after Marquees.
You can drive a pre-owned Ferrari 308 or a Porsche Turbo for much less than a new Suburban, Mazda, or Honda. You can also drive a 12-cylinder Jaguar convertible, Pantera, Lotus, or Porsche 911 convertible, as well as a Mercedes 560 SEL or BMW 735 Sedan for much less than the price of a new Lincoln or Cadillac. If you are considering a new Thunderbird, Explorer, Oldsmobile or Pontiac, you can buy a Mercedes 450 or 380 SL convertible, early to mid-eighties Porsche 911 or 928 Coupes, vintage Jaguar XKE Coupes or mid-year Corvettes for less money.
The conditions in the general economy have brought some of this exotic machinery within reach of many enthusiasts as well as investors not satisfied with a 4% to 6% return on money market funds.
If the cars are chosen carefully according to make, year, model operations, and condition and are carefully maintained, they should increase significantly in resale value over the next several years. Many car prognosticators are saying that most of the exotic cars have reached a minimum and have nowhere to go but up. This being the case, your next car purchase could return not only the exhilaration of awesome performance, but could be a part of your investment portfolio. Just the thought of selling a car for more than was paid while driving it for several years appeals to many, especially to those who just traded or sold their 3-or 4-year old car for less than half of the purchase price.
The Ferrari 308 GTSI, manufactured in the early to mid 1980's can be purchased for less than $30,000. The Porsche 930 Turbos manufactured in 1979 and continuing into the 1980's are available in the $30,000 to $40,000 range. A 1985 Lotus Espirit can be found in the $15,000 range with the newer style Lotus (1988 and up) available in the mid-$30,000 range. Mid-eighties 928 Porsches are available for under $10,000 and the Porsche 911's from the early 80's are priced in the mid teens. The early 80's Mercedes SL's can be found for less than $10,000 with careful shopping. 12-cylinder Jaguar XJS convertibles are available from $12,000 and up with the 12-cylinder XJS coupes well under $10,000.
The full-sized luxury cars are also good buys although they probably will not increase in value as the aforementioned exotic cars. Large Mercedes Benz 560, and 420 SEL sedans from the late eighties are available in the $15,000 to $25,000 range, a fraction of their current new cost. Some older Mercedes which look basically the same can be bought for under $10,000. BMW prices are particularly reasonable now. Even though these cars may have 75,000 to 100,000 miles on their odometers, they are designed to run several hundred thousand miles. Cars of this caliber and vintage will depreciate far less each year than a new domestic or foreign car.
Before you commit yourself to an expensive new car purchase or lease, consider your alternatives.