The Good News and Bad News About Owning a Sports Car
So you just won the lottery and you’ve decided to “invest” some your winnings into a new sports car!
But here’s how to look at both the positive and negative sides of dropping cash for a new sports car.
Sports car fanatics will always find the most compelling reasons to own a sports car and the good news is:
- Sports cars fit the lifestyle of the rich, the famous and the elegant; they are sexy.
- Some sports cars have more powerful engines with up to 750 horsepower; they go fast!
- Sleek, convertible types depreciate more slowly than hardtop rivals; keep them inside.
- The newer the sports car model, the more impressive the driver is; at least in some people’s opinion anyway.
- Fans of sports car can choose between the coupe style and convertible; get one of each.
- Automatic transmission sports cars have better resale values; but we know driving a stick is more fun.
- High-end exotic sports cars have been largely immune to the recession; only rich buggers own then anyway.
- Less exotic cars do best, often losing as little as 6 to 10% of their worth over five years; but I like exotic.
- Both men and women are starting to become addicted with the sport; meet your next partner in the showroom.
Although fitting in with your lifestyle, it’s not all that easy when it comes to buying a sports cars, the not so good news is:
- Sports cars are prone to being affected by recurring and financially viable trends; buy low and sell high.
- Some sports cars have very expensive and hard to find repair parts; if you have to ask…
- Sports car buyers should not expect to ever get back their full investment when reselling the car; you pay for the fun.
- Expensive sport cars infrequently serve their purpose as just a means of transportation; they become a collector’s toy that is rarely used.
- Driving an expensive sports car means spending extra money for gas; if you have to ask….
- Insurance can be VERY expensive; if you have to ask…
- Various exotic sports cars resold because of costly maintenance; if you have to ask….
Expensive sports cars have become a passion for some car collectors because of their timeless beauty.
Collectors will spend more for an exotic sports car, since it brings enjoyment and value beyond cash, and the collector is willing to invest to own one for the joy and prestige it provides.