Cars & Motorbikes Let's talk cars... 2022

{Note from mods: this thread continued from thread Let's talk cars... 2021}

Ok it’s 2022, what is going to happen to the new, used, grey imports and classic car market? Is anyone planning to buy or sell a car. It seems that many car makers have a severe shortage of cars for immediate delivery.

 

I'm waiting for the Tesla Y. Y is is not here!!! Can't even preorder it but it's been in production and sale in USA for ages. Not sure which factory will be producing it for Aus - China or Germany.

 

I gave some thought of the inevitable electric path, but decided to wait it out for a few more years.

I have an order in for the BMW X6M that should be here in April. Running around in the GR Yaris at the moment as I got rid of the Jag already. Had a friend who was keen on it and they are going for good money at the moment, so I let him take it.

I actually enjoy the little Yaris. It’s a great car to run around in. Easy and fun to drive.

 

I really like the x6M, it's my favourite due to it's coupe x suv style. Not sure how my 6ft 15yo son would fit in the back seat with the sloped roof. It's one of the advantages of the Tesla as it has more leg room and quite good head height clearance in the Y

 

I believe that the new Nissan 400z is due out this year. Will be interesting to see how they price it. There is talk that it will under cut the Toyota Supra by 20k but Toyota was talking about a cheaper Supra to arrive with a 4 cylinder and there is an updated 86 coming.

 

With the classic car market going bonkers, finding value is getting harder all the time. However with you tube content makers like Hubnut, I drive a classic and Motoring box, there has been a focus on some models that people wouldn’t have considered as classics starting to gain some traction.

 

Dunno about anyone else haven't been following this thread but I'm a big Jap car nut.

I used to own several WRX STIs when I was younger and currently now still own an Evo 9 and Evo X as my dedicated race track cars. Spents 10s of 1000s on the STIs until common sense came into the picture after dropping massive amounts of money with Autotech and some other big name workshops only to get just on 300kw on E85 with the Suby. The Evo can do that soooo much cheaper and easier.

Also its crazy whats happening with the models with cult followings MK4 2JZ Supra, Series 6 RX7, 200SX S15s, EVO 8-9-X, GTR32, 33 and 34s all these cult cars are so bloody expensive now. Its getting crazy.

GTR32s selling for $100k+ and GTR34s going for $250k+. Wowsers.

I'm seeing Evo 8 MRs asking $70k plus for clean examples. Evo 9 and Xs are getting up in price as well. The jap car scene is huge these days as well.

Interesting times when several years ago these cars where just sitting around and much much cheaper.

 

If only BMW did some work on the sound of their cars. In every other aspect they are ahead of their competition. I’m 6ft and I sat in the back seat and it wasn’t that bad. If your getting above 6ft the headroom thing might start being an issue.

I noticed with the X6 you either love it or hate it. I liked the redesigned back end the moment I saw it.

 

Before I could afford the euro toys I had my fair share of jap cars.

It was the year 2000 and I was 20 years old and pretty much broke. Just started a new job and pulled together $5k. Walked into Subaru and said I wanted a new WRX. Sales man asked if I had a job and a deposit? I said I’ve been in my job for 3 months and I have $5k. Signed the paperwork for a finance application and said they will let me know if it gets approved. I was thinking there is no chance I will get approved. Few days later they call me and say come pick up your new car. One of the silliest financial decisions I made but I was living the dream at the time.

I didn’t even ask what interest rate I was paying or any other fees and costs that came with it. All I know is I spent the next 12 months spending every dollar earns making repayments and spending every spare dollar I had on the car. 1 year of repayments and $15k of upgrades on the car I sold it and had to find another $4k to close out the loan.

That was followed by an S14 200sx, an FTO , a R33 gts, a S15 200sx with a bunch of 88 twin cam flat back corollas in between , a celica and a couple of Nissan Exa’s.

From the age of 16-24 I worked full time and at times 2 jobs and threw every dollar I had into cars.

Went a little of track, but yes jap cars are going through the roof at the moment. The worlds gone mad and people are paying crazy money for everything right now.

I sold a Ferrari 458 Italia just as covid was unfolding. It was immaculate. Didn’t have the room for it so I dropped it off to the dealership and said just move it. They got me $350 for it and then took their fee. Right now I would get $450-$500 for it. A little annoying but who would have thought that a world wide pandemic would end in prices of unnecessary luxuries going through the roof.
Like I said, crazy times.

 

Wow. Looks like we got a lot of common interests. Watches and cars. LOL

These days I spend a lot more money on my watches than I do on cars. As I get older I've stopped going so much to the track and changing up turbos/manifolds and paying for dyno tunes etc.....plus the EVOs I currently have are so damn reliable they don't break even when I thrash the crap out of them literally nothing breaks. Both running around 350kw at the wheels on E85.

Funny you say you just sold a 458 Italia - I've been watching this video clip on repeat for the last 1hr. If my real estate keep rising as it did in 2021 I might just have to follow you and buy myself a Ferrari in 2022.



I sold a C63s C205 AMG before Covid as well. Lost a bit of money on it but did OK. Would have gotten more in todays market but it was a good car to drive whilst I had it.

No idea as well with all these luxury items going through the roof. Seems every dick and harry has more play money than me. LOL - everyone's making a killing these days.

 

I've got a '62 Karmann Ghia and I've noticed prices have certainly increased. I think people are certainly spending some of their travel money on fun cars.

DH is the jap car nut and does his own build work. I almost had him convinced to put a Subie EJ motor into the Karmann Ghia but he baulked at the last minute and left it as the 1600cc that it is and rebuilt it.

 

Yes we do. With the watches though, I really have no idea. I like nice expensive things and for me the watch is a status piece. Now cars while also being status pieces, are something I have a real passion for. I won’t buy a car unless it stirs something in me.

Sounds like watches are a much smarter investment than cars. Never broke even let alone made money on a car. Was always a fan of the evo lancers but never ended up owning or even driving one. Had 2 wrx’s in my time. Few years ago I went and looked at an Evo but ended up picking up a 370z. The 370z was a great car but a silly choice for a daily driver. It lasted 4 months and then I moved it along. Lucky I got a great deal on it new so didn’t cop too much of a beating on selling.

There was a property chat drive day organised late last year. I missed it as something came up on the day. We will hopefully do another one again soon. You are Sydney based right? You should come along. Would love to check out your toys.

You seem to being doing alright to me. Don’t be fooled by the illusion that many people are putting out. If your buying your watches and cars without using debt than your doing better than you think. Most people paying these silly prices for cars are doing on finance. A few dealerships have mentioned to me that the majority of cars they sell are financed. Not many people are buying with their own money.

I haven’t followed your story as I am more on the shares side of the forum than the property. But I understand your a property guy so your doing the hard yards and smart thing by investing your money. Now if you take the fruits from that investment and spend it on toys such as cars and watches, then you are doing what only a small percentage of people are able to achieve.

Be happy with that.

 

With you on that one. I think it'll be 2026+ until we go full EV. Have had a hybrid for a few years, will get another one in a couple of years.

The COVID used car market madness continues at the minute. We have the AMG GTS which we were going to sell in Feb/March however with the way things are going I think we are going to try to hold onto it for a while longer... banking on the FOEVTO (fear of electronic vehicles taking over?!) to continue to drive prices up in the short term!

Oh and we'll definitely have another drive day... probably around March

 

Yes and yes.
Make sure you don’t get rid of the AMG gts before the next drive day. Keen to check it out, I’m a big fan.
When you get rid of it, Will something else replace it?
I always think to myself I really should get rid of these toys and put that money to work. The investor in me always calculates the lost return between holding a toy and investing the capital.

But I always come back to, what’s the point of investing if we don’t enjoy the returns they deliver. Investing past the point of providing ones needs is pointless if you don’t indulge in some wants.

 

A very interesting thread..

I'm more into bikes and have a few special Ducati's that are hard to find (and another one on order that is still a prototype which I have been privy to see).

Also have ordered a BMW M4 CSL for sometime 2023 delivery. Should be a pretty special car if the previous E46 CSL is anything to go by.

 

Sounds like a plan. Yes we have something acceptable on the way

You're right about the capital in that it could be put to better use but where does it end? You invest the capital into more income producing assets to make more money and then what? Keep doing it forever?

I think we're now at that point where we are comfortable with the scale of our investments that it allows a bit of freedom and to follow what is a passion. I wouldn't advocate for it if you're in the accumulation phase (which clearly you are not in either )

 

Yes it’s a bit of a psychological battle. Spent the last few years working the investor muscles. Invest as much as possible as often as possible. The investor muscles in me have become too strong and are taking over the spending muscles.

Well done for achieving this level of financial freedom and for recognising this and starting to enjoy the benefits.

What do you mean I’m not in accumulation phase? I’m clearly in early accumulation phase. Im not even close to being done accumulating.

This is something I am still mentally struggling with. Seriously considering relocating to QLD and splashing some cash on a PPOR. Problem is I don’t want to sell down any investment assets for this. Will look at borrowing for the new place and then using the investment income to pay down the loan. Can’t say I’m comfortable taking out such a large loan even though our income is more than enough to make the payments. Will have to pay it down asap so I can sleep better.

 

I saw that other thread! Funny enough we had been having the same thoughts the last few years about moving up there. We didn't end up doing anything though, we're grounded in eastern Sydney until the kids finish school basically but it could still be something on the cards depending on what life looks like then.

We were thinking a hinterland lifestyle property rather than water side. Back then $2-3M would buy you something amazing but that segment in particular appears to have run away price wise now. Some of the houses were approx. 1 hour to both Brisbane or GC airport so good proximity to travel internationally and 40 mins into Surfers.

 

Yeah we also have young kids and that has kept us from making any drastic lifestyle changes. But I think its time to live a little for ourselves. As long as we time the move so its not too disruptive for the kids schooling then why not. I'm reading the Southport school is a really good option. My kids still have many more school years left in them. Don't want to be waiting forever.

Depending on how much we end up stumping up for a place, I might end up liquidating some cars to free up cash. Would prefer not to liquidate income producing assets when I can free up some capital in a car. I'm talking like we have already decided and have started packing. Mentally I have but the reality is it will be at least 6-12 months away if we ending up making the move.

 

Yeah that is fair enough. It sounds like you may be a step ahead of us on taking that next step to enjoy life so good on you. Make sure you call me before you do any more fire sales on the cars.... though I am overcommitted as it is!