Fun Investments

[Weiterbot23]

So I saw this vintage soft top mustang for sale the other day, I'm not really into cars but this turned my head and have been thinking about it ever since.

Here is my justification
-It was 22k, which I could take out of my offset account so wouldn't be paying interest on it.
-Looked in perfect condition so assuming it drives well (wouldn't buy it if it needed a ton of work done).
-I live 100m from a station and work in the city so only drive my current car once a month if that. So could sell my normal car and only use the stang on the occasions I need it. (My wife also has a car that we generally use when both going somewhere)
-could put it on a club rego saving me 600-700 a year
-plus unlike most cars it would likely hold its value or increase
-it's farking cool

What are your thoughts on the above and have you ever made a "fun" investment?

 

[slashin_velvet]

A depreciating asset is not an investment. But if you don't have many toys, and can afford it, then spoil yourself imo

 

[Weiterbot23]

A depreciating asset is not an investment. But if you don't have many toys, and can afford it, then spoil yourself imo

It's from the 60s if kept in good condition wouldn't it appreciate, or at least maintain.

Come on, I need some serious support here before I present this to my wife.

 

[slashin_velvet]

It's from the 60s if kept in good condition wouldn't it appreciate, or at least maintain.

Come on, I need some serious support here before I present this to my wife.

I don't know enough about the specific car to know, but would suggest after maintenance and rego - holding value doesnt make it an investment when in your offset account it's probably saving you 4% per year minimum (and more when rates return to more traditional levels).

As I say, if you can afford it, then go for it - and if you want to persuade the wife, use whatever argument you need!

 

[Kynge of Begrem]

If you are taking money out of your offset to pay for it, you may not be paying interest on it but you are losing the interest you save on your mortgage via the offset account.

 

[Weiterbot23]

You guys suck

 

[Kynge of Begrem]

You guys suck

sorry

 

[slashin_velvet]

For the record - I dont listen to my own advice.

I'm currently planning building a bass guitar, so far ive bought:
- Bandsaw & new blade $150 (massively on sale)
- Router and router bits $150 & $140 = $290
- Saw Rasps & Planes - $40 x 3 = $120
- Bass Hardware & Electronics - $1000
- Timber Veneer, Body, Neck, Fingerboard $35 + $140 + $50 + 50 = $275
Ignoring all the other bits and bobs, I still need to spend another couple hundred on a fret saw, fret materials and files.

All up I'm down circa $2000, and I haven't even drawn up the designs properly. I'm not that handy with tools so I'll probably keep screwing it up and spending more. I could have bought a very good instrument second hand for the amount of money I'm sinking into it....and it is likely to have zero resale value.

But I've spread the load - am pre kids pre mortgage, so can justify it right now, and know a time will come soon where I wont have the discretionary funds, time or space to do this. You'll make the right choice!

 

[iluvparis]

Well you certainly covered the fun part - not so sure about the second.