Vehicle's value

[Kyle253]

Ok so I got into an argument today at work with one of my co-workers on the value of a vehicle. I told him I was having my truck worked on so I could increase the value and have a safer ride. And he said that you cant increase the value of a vehicle by installing new items on it example; brakes, engine, interior. And I was like so you believe that if I were to buy a 500 dollar car and put 3000 dollars in it fixing it that it would still only be worth 500 dollars? I'm sorry where do you get your logic from? Idiot.

[Skib]

its only worth what someone will pay for it.

[Kyle253]

its only worth what someone will pay for it.

 

Well I'm not saying it will be worth what you put into it. But I am saying that you can increase the value of a vehicle.

[nismo dr]

$500 car with 3k worth of work probably now a $1200 car. When I see a car thats had "a laundry list of recent work" I try to low ball harder because that shows it wasn't taken care of and I'm probably going to want to redo the work anyway

[Skib]

still only worth what someone will pay for it.

 

 

if you dump 5k into some chrome rims... I sure as hell am not paying anymore for the car with them on.

cuz I think they look like crap and that makes them worthless to me.

 

 

but only the other hand, if someone likes that shit it will add more value to them because the rims are worth something to them.

 

 

 

like you can sell a RHD dash here for 1-2k but try getting someone in like AUS/JP to pay that much for one.

 

the same clean datto that would sell for $700 in OR would sell for $1500 in SoCal.

[Kyle253]

still only worth what someone will pay for it.

 

 

if you dump 5k into some chrome rims... I sure as hell am not paying anymore for the car with them on.

cuz I think they look like crap and that makes them worthless to me.

 

 

but only the other hand, if someone likes that shit it will add more value to them because the rims are worth something to them.

 

 

 

like you can sell a RHD dash here for 1-2k but try getting someone in like AUS/JP to pay that much for one.

 

the same clean datto that would sell for $700 in OR would sell for $1500 in SoCal.

 

Its all in what the buyer see's valuable. But if I get a low baller trying to get something off me that I know I have out hard time money and sweat into I'll wait for someone else to come buy and give me a reasonable price for what I have done.

 

All I'm trying to say is that my co-worker believe's that a vehicle's value can not be increased. And I believe that it can be.

[Skib]

Its all in what the buyer see's valuable. But if I get a low baller trying to get something off me that I know I have out hard time money and sweat into I'll wait for someone else to come buy and give me a reasonable price for what I have done.

 

thats up to you

 

All I'm trying to say is that my co-worker believe's that a vehicle's value can not be increased. And I believe that it can be.

 

yes it can.

 

doesent mean youl get the money you put into it tho

[pharouh]

 

 

the same clean datto that would sell for $700 in OR would sell for $1500 in SoCal.

Or $3000 in Indiana. LOL

[Skib]

Or $3000 in Indiana. LOL

 

 

lol pretty much

 

 

:rofl: I should start buying all the $500 NW dattos and dragging them out to the midwest :P

[zerow]

Ok so I got into an argument today at work with one of my co-workers on the value of a vehicle. I told him I was having my truck worked on so I could increase the value and have a safer ride. And he said that you cant increase the value of a vehicle by installing new items on it example; brakes, engine, interior. And I was like so you believe that if I were to buy a 500 dollar car and put 3000 dollars in it fixing it that it would still only be worth 500 dollars? I'm sorry where do you get your logic from? Idiot.

There is what is called "reasonable expectation"

IF I were to buy a car used, for the $500 you describe, I would "expect" that it needs work, be it engine, driveline, brakes, interior, tires, etc. etc...

Now, if you were to have the same used car up and put on new tires, I'm afraid I'm not going to pay $500 PLUS the cost of the new tires, as I would have expected the car to come with tires, be it that they were new or used. Same goes for the brakes, engine, driveline, interior, etc. It only comes back to you when the car was say rare or collector, then the car is worth something more than the average.

It is also true, as well as stated above, that an $800 car in OR is worth $1500 in CA, but we here in CA don't have as many places where these cars are sitting around waiting for death or rust (whichever comes first). And OR doesn't have smog laws based on year of manufacturer like we do, so older cars that are 'smog exempt' are more desireable. And thats where value based on buyer's want comes into play. I'm not naming names, but there was a 610 sedan for sale down here a couple of months ago. The seller wanted $2500 firm for what he called a "rare car". I will tell you this: Rare? Maybe... but I would only give $600 tops for a car with old tires, a sketchy repair history, and a tired L20B. Thats me though. If somebody's dream project was that 610 sedan and since there hasn't been any hide or hair of it since, then maybe the seller got what he wanted, "rare" car and all.

[Jassifrass]

 

the same clean datto that would sell for $700 in OR would sell for $1500 in SoCal.

 

not if your a douche about it though :lol:

[nukeday]

Interesting topic. I have to agree that any inexpensive car will not be made more valuable by lots of mods and rebuilt stuff. Restored, it might be worth slightly more than it sold for new, but the costs to restore it would far outweigh it's actual market value. Have you ever watched Overhaulin'? They take generally usable cars and turn them into trailer queen works of art. What's it worth when Chip is done? To me, nothing. I'd rather have it before he ever started.

 

Datsun's are very much like Rambler's/AMC's in this regard. There is one model that is sought after and generally appreciated, the AMX/the Roadster. The other models served as bread and butter grocery getters and family beaters, were cheap to acquire and maintain and generally got wore out and neglected, and ultimately crushed or forgotten. Find a nice 610 two door. Good luck.

 

Cars are cars. Today they are appliances, and pretty much interchangeable. They all still need the oil changed, tires rotated and an occasional engine rebuild. Does a new engine in a '95 Impala make it worth more? New tires on a Metro? There are hundreds of online sources for looking up vehicle value, and by nature, they all include a range of price and condition. One of my favorites is vmrintl.com, and guess what? The only Datsun they listed for years is the roadster. The 510 was added recently.

 

Ultimately, it's worth whatever someone will pay for it. If you gave me a Chip Foose Overhauled car, I'd sell it and buy something I could drive.

[yellowdatsun]

That's the problem with Datsuns, and old cars in general. If you dump $1500 into a $500 car, it's still a $500 car. For the most part, unfortunately, your co-worker is right. The only real exceptions are restorations and customs.

[sick620]

That guy IS a idiot and you are right in saying so kyle. if you take a $500 car and paint it really nice You will obviously sell it for a considerable amount more. But you cannot totally restore something and make a profit off of it by selling it. You see the scenario all the time on craigslist where someone fixes something up and puts "$30,000 invested asking $10,000".

[Bleach]

You also see people asking $3000 for a piece of junk car because they bought it for $500 and dumped $1500 into it and think it is only fair that they get their money back. They will soon realize that nobody is interested in paying that much for it.

 

I could probably find you a $500 280Z that the owner doesn't even know what a turbo looks like and he wants $3500 for it... priced dropped from $5000 a few days ago. :D

[RadioRedline]

Value is assuming that the brakes, transmission, etc are there. They were there from the factory! If you have to fix the carb for example for 500$...the car came with a working one. so if the particular non working item is not fixed and will cost anyone 500$ take that off of the price.

 

example 1.

 

car market price is 2000. but it needs trans. costs 800$. Car is really worth 1200$. If you replace transmission for 800$ that doesnt all of a sudden make that car worth 2800$!!!

 

I take trades for a living

 

Radio

[hughdogz]

"You can't polish a terd" ~ I'm not saying Datsuns are terds, but if you have a terd and polish it, it is still a terd and not worth much more than a unpolished terd.

 

Even if you gold plate a terd, it is probably not worth much more than the weight of the gold, probably even less.

 

So in the context of a car, yes you can add a $2000 turbo kit to a $500 dollar car. The car may be worth more than $500 now, but it's not a $2500 car. In most cases, you can only sell parts for 1/2 the price of when it was bought new...

[MicroMachinery]

"You can't increase the value of a vehicle".

 

That sounds like I comment that I wouldn't even dignify with a response, let alone an argument. I wouldn't argue with an ignorant high school student about work ethics for the exact same reason.. they're outta their league. :rolleyes:

[datzenmike]

My general rule of thumb is for every $1000 you spend on it (assuming labor is done by yourself) you will get back about 2/3 when selling. Maybe. This will not include your time and bother doing it. Of course improvements will add value... just not dollar for dollar. This is because there is no money to be made fixing cars and selling expecting a profit. (or to break even either!) Cars are for owning and enjoying and we put our hearts into fixing them up just for the sheer enjoyment of it. The time, money and parts put in are to satisfy YOU and will not impress an informed buyer.

 

An exception to this is if you know the car intimately and have seen what went into it, how well it was maintained and how well the work was done. You might then be willing to pay a bit more for a finished car than doing it yourself.

[Kyle253]

Right, spend 5,000 dollars on your 500 dollar car in whatever, paint, wheels, performance etc etc it has to have some sort of value increase. You're not going to get your money back ever. Like my Grandfather has always said Vehicles are the worst investment but are a necessity for most. You'll never get back what you put into it. BUT, you can still increase it's value. That's all I'm saying.

 

Now, putting 20 inch rims on a car will not increase it's value to most people. Some people will think so.

 

Take one of your 510's you paid $2000 for it, you do a complete engine swap from whatever new transmission rear end lower it new interior blah blah blah... if you want to sell it tell me you're not going to try and get more than $2000 out of it right? Increased value right? To you and who ever is interested in buying it.

[Iowa Mark]

I believe some of the value is built into the kind of car or truck you are buying or selling. A 35 year old Datsun around here is considered junk, no matter how much you put back into it. But, a 35 year old Chevelle with 8 tons of bondo is almost ready for paint and a trip to Barret-Jackson for the guy with his $40,000 hand up. It wasn't long ago when a cherry, running, 50's Studebaker, Plymouth, or DeSoto couldn't be given away. Now you buff the faded pink and grey paint and people trip all over themselves reaching for their wallets. I know a guy that buys nothing but other peoples project cars. The way he sees it, where else can you get a new engine, transmission, rebuilt suspension, tires, wiring........ for 20 cents on the dollar. And you get it in a package that you can drive , to boot! You will never get your money back on any car unless you can figure out what everyone will want next year.

[sssr20det510]

I paid 350 dollars for my 510 have your co worker tell me if he thinks that's all I could get for it

[INDY510]

I'll give you $350 for it if you deliver....

 

 

 

I always use this equation to determine auto values: price of tow dolly + price of gas to get the car + hassle of towing it + amount still owed to the previous owner = not even breaking even

[Gary]

to give a quick example of a someone i know

 

nissan sentra (not what we call em over here, but so you chaps know :D), SR20DET conversion, transmission was worked on, then binned, then a new expensive tuff one, new exhaust, bigger turbo, conversion was dodgy so lots of let downs and back-to-the-workshop bills, engineering, TEIN suspension, hectic seats, couple sets of wheels and tyres (one set semis), and a couple other things

over the years, about 70k spent, the owner had never turned a spanner on it. now its a base model FWD with a few nicer bits in, DET making not that much power, and a strong gearbox, would have a harddd time selling it for more than about 10k here. so in that case, you definately dont get your cash back, and all that money and work doesnt change that its a base model econobox :(

 

on the other hand ive got an LS400 i got for 2k damaged, fixed it, and with another 2k or so into it i can sell for 6k, so i can make cash back on it and a little more on top for my trouble

 

just depends is all :D

 

i could justify spending more on a car im likely to keep cos i like it, in fact i have :D $1200 for what anyone other than an enthusiast would call a fargone 620. looking at it as it comes, cab mounts rusted, its slow, cant haul that much really, uncomfortable, rattly, noisy, no stereo or electrics, carb fed - most wouldnt pay $50 for it. but cos i like it, and can fix it, and cant find any other ones around, specially like mine, ill pay closer to what the seller wants :D

[metalmonkey47]

Tell him to shut up. If he's not looking to buy it, his opinion doesn't matter as to what it's worth. As it's been stated multiple times, it's only worth what someone is willing to pay for it. A Datsun guy is more likely to pay more for it if he knows what he's getting. To the naked eye, it's just a heap.

 

I remember being approached by someone after buying the car and them trying to make fun of me for owning a $500 Datsun. I recall them mentioning how they paid a few thousand for theirs. My rebuttal; you may have payed more for your car, but mine still has more style,history, respect, better parts, and is more fun to drive then your POS Honda. Plus I get better MPG ;)