jcmseven said:Paul,
Yes, actually I meant "build equity". I have had the good fortune in the past three trucks I have sold getting over 80% of their original value out of them after much usage on each. Each was totally paid for at the time of sale. When I speak in automotive terms of this statement it is not meant to be construed in the same vein as an investment account. To me, building equity in a vehicle means that the vehicle has been paid off and is being used for only its operational overhead, and then getting a reasonable sum at the time of sale or trade which does not have to be shared with a bank or credit firm. I essentially sold my last truck for nearly what I purchased it for and had almost 70,000 miles on it. I had the truck paid off in a little over a year and kept it five. It had at that time become a marketable asset. At this point this truck I currently have is not at that level. When I first got it, I did have a man offer to buy it from me on spot soon after I had gotten it, but at that time the truck was new and I did not yet have my new job position so I did not sell. Also at that time the 2008 250s were somewhat rare and not easy to find. I decided to keep my truck then--which I will probably do now also.
John M
lug nut said:I don't recall ever hearing the words "equity" and "automobile" mentioned together.![]()
The only reasonable solution I can see is a second commuter vehicle that will fit in the parking garage.
There is nothing wrong with having more than one vehicle. After all, this is America.I actually own 5 vehicles at the moment, not including the tractor or the scooter. They each have their own purpose.
lug nut said:I don't recall ever hearing the words "equity" and "automobile" mentioned together.![]()
The only reasonable solution I can see is a second commuter vehicle that will fit in the parking garage.
There is nothing wrong with having more than one vehicle. After all, this is America.I actually own 5 vehicles at the moment, not including the tractor or the scooter. They each have their own purpose.
gemini5362 said:Tehcnically if you have an antique car you could have equity in it. If for instance you bought a HEMI-CUDA new and still have it. If it was in perfect condition you would have a lot of equity in it. Since it is now worth several times the price it cost new.