Just this evening I learned a friend of mine owns this car and my jaw dropped.
I asked him where it is and if he drives it to which her replied NO as, due to the low mileage, he's afraid it would affect the value which brings me to why I'm asking about this car.
Is there something significant enough about it to make it a particularly valuable car?
Let's look at this from an investment point of view.
A 1999 Mustang GT Convertible was about $25,000 brand new. Let's assume he paid cash for it. The high retail value for it now would be $18,400. Add to that the insurance payments made on it over the last 18 years and even at $100 every 6 month that would bring his total outlay to $28,600. He's currently $10,000 in the hole.
The stock market historically averages around 8% annually meaning his money would double about every 8 years. Had he taken that same $25,000 and dropped it in an index fund, he'd be sitting on over $100,000 right now.
LOL........he is our school administrator.......and a damn good one too so he's no dummy....... :wink:
I want to thank everyone for their straightforward comments thus far.
I posted HERE because I wanted to get the straight dope for him which I knew I'd get HERE....... :laugh:
How the hell can you buy a brand new drop top and not drive it. I am not now, nor will I ever be a "car collector". I put more miles on my 65 last saturday than that car has since new.
If he or I wanted a bunch of :bs: I would have posted elsewhere so keep it coming as I linked him to this thread so he's watching....... :wink:
For the record I got a copy of the Marty Report.
I can totally appreciate the concept of this car. That said, I could never own a car that I couldn't drive. I think it is great that a few examples of this generation have been kept to this level of detail, however I doubt they will ever be more desirable overall than the 1st generation cars - just because of their uniqueness. Also, if I were picking a Mustang from '99 to collect and not put any miles on, it would be a whole lot closer to this:
Interestingly, the longest single distance in one day that I have driven my own '66 fastback is more than SIX TIMES as many miles as this car has had put on it in 16 years.
875 miles in one day... or 136 miles in 16 years... yeah, you all know which one I'd take :lol:
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