Quote:
Originally Posted by Daox
While thats true of probably 99%+ of vehicles purchased you can buy a fixer upper and resell it for more than you've paid and drive it in the mean time. A coworker of mine does it routinely and I've done it as well.
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So have I. However, you need to factor in all the money you put into it to repair it, plus the value of your labor (sweat equity), besides which it continues to depreciate (lose value) as you own it. Usually the only time you can break even or show the slightest profit is when it's a beater, it's totally depreciated, and you paid almost nothing for it.