Won a 2002 T-Bird

[RB]

I'm the lucky winner of a new 2002 T-Bird. Not sure if I should sell it or keep it. I would love to keep it - but concerned about depreciation. I'm looking for some advice/direction re: 2002 T-Bird as an investment. Thanks for your help.

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[tbird]

Originally posted by RB:
I'm the lucky winner of a new 2002 T-Bird. Not sure if I should sell it or keep it. I would love to keep it - but concerned about depreciation. I'm looking for some advice/direction re: 2002 T-Bird as an investment. Thanks for your help.

Congratulations on your win.

By the time you pay taxes from the win it will be a bigger decision. The car will depreciate just like any automobile. Convertibles in general have slightly better resell, but don't keep the car unless you like it and know it is going to cost you money.

I know this may sound strange, but personally, I would let the dealer keep it and take what they offer me for it, I have seen this done before, then they can sell it as new. That way you walk away with cash, rather than a liability.

 

[whvt01]

If its not a car you desire why keep it.

?? on Canadian cars but here you will
yearly inspections, plates, insurance.

I don't think you will be able to sell the
car for a good price now with the 03 coming
and many dealers offering disc on 02.

Now if you can afford it and have another
car I would keep it because I think over
time it will hold its value better than
most and always be an "of interest car"

 

[Tbird eh]

Canadian winnings are tax free. 2003 birds in Canada are going up in price by $4000-$5000, making 2002 a better deal. Dealers mark up is about $5200. You would be beter to sell on your own. Just my 2 cents.

 

[George]

RB:
I'm confused about your concern of depreciation....I don't see that as a factor since you did WIN the car, so your out of pocket costs are your tickets and taxes.
You said you would love to keep it so therefore my advice would be to keep it!!
No one knows for sure if these cars will have collector status and increased value in the future, but with all the hype and limited production it certainly has a better chance than most 'first year' vehicles.
Keep it and stay with us on the Thunderbird Forum!!

 

[tbird]

Originally posted by George:
RB:
No one knows for sure if these cars will have collector status and increased value in the future, but with all the hype and limited production

This is true, but in the past there have been many cars produced as limited editions, 25th anniversary, etc and the trend shows they depreciate just like all the rest of the cars. 30,000 units is quite a few for a 2 seater convertable, and the recent price drops shows the supply and demand has suddenly flip flopped.

1955 - 16,155
1956 - 15,631
1957 - 21,380
2002 - 29,000+

 

[RB]

Thanks for your ideas and thoughts. We're still not sure what we will do - but the info here has been helpful. Thanks

 

[RACERROGER]

tbird, I am a little surprised at your answer. While factually you may be correct, I think that you missed the point. This is a Thunderbird forum! As you have said in the past, you wish you could afford one. I hope your lack of funds does not cloud your feelings about this automobile.

In all probability this question would only get positive responses because this forum is by Thunderbird enthusiasts. We love our cars and our enthusiasm extends to all members. Are you with us or against us?

This message is my personal feeling and does not represent any other member. Thought a disclaimer might be warranted.

 

[tbird]

Originally posted by RACERROGER:
I hope your lack of funds does not cloud your feelings about this automobile.

Lack of funds has nothing to do with it. Being in the car business for almost 5 years and knowing the car will depreciate does. Plus being married to a woman that was also in the automotive industry does not help my case any.

 

[fdthird]

You know, some things have nothing to do with money and can't be looked at on a purely analytical basis.

Did you win the car because you bought a raffle ticket for it? Did you buy the ticket because you really wanted the car and couldn't afford it? Can you afford to pay the taxes. license and insurance? If so, I say keep it. The cemeteries are full of folks who did the smart thing...you’re dead a log time…..enjoy life!

 

[forest creature]

it is impossible for you to have a depreciation for something you did not pay for. [taxes are not permitted as a depreciation factor]

if you like the car, keep it. if you do not like the car, let the dealer keep it and go with the cash.

since you had to ask, you need to go with the cash.

 

[tbird]

Originally posted by forest creature:
it is impossible for you to have a depreciation for something you did not pay for.

Depends on how you look at it. If the car has a monetary value it is costing you money.