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Is anyone considering putting their Karma in storage in hopes that it will appreciate in value in 10-15 years?

I ask because a friend of mine who is a huge car buff--far more than I am--discouraged me from buying a Karma. He said the company would never survive. Meanwhile, he was bullish on Tesla and said he thought the Model S would be a great purchase. It seems as though his prediction from a year ago is coming true.

Last night, the same friend told me to put my Karma in storage. He said if I continue to drive it, it will be worth nothing in 10 years. But, according to him, if I put it in storage with low miles (I currently have around 3500 miles), in 10 years, the car will be worth more than I paid for it.

Does anyone have any thoughts about this?
 

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Is anyone considering putting their Karma in storage in hopes that it will appreciate in value in 10-15 years?

I ask because a friend of mine who is a huge car buff--far more than I am--discouraged me from buying a Karma. He said the company would never survive. Meanwhile, he was bullish on Tesla and said he thought the Model S would be a great purchase. It seems as though his prediction from a year ago is coming true.

Last night, the same friend told me to put my Karma in storage. He said if I continue to drive it, it will be worth nothing in 10 years. But, according to him, if I put it in storage with low miles (I currently have around 3500 miles), in 10 years, the car will be worth more than I paid for it.

Does anyone have any thoughts about this?
Your friend forgot to tell you about inflation. For example, the 1983 DeLorean had a sticker price of $25,000. There's a DMC-12 listed on AutoTrader.com with 2,161 miles on it for $29,950. Is there a profit here? Nope. Whoever stored this car is will get $12,998 in 1983 dollars. Another way of looking at it is $25,000 in 1983 is $58,000 today.

If you're worried about money, you might be better off selling your car now.

In any event, there's been a lot posted here about storing the Karma to avoid dead batteries, flat spots on the tires, etc. But who knows what will happen to the connectors and the rest of the electronics after sitting around for 10-15 years?
 

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Discussion Starter · #4 · (Edited)
Your friend forgot to tell you about inflation. For example, the 1983 DeLorean had a sticker price of $25,000. There's a DMC-12 listed on AutoTrader.com with 2,161 miles on it for $29,950. Is there a profit here? Nope. Whoever stored this car is will get $12,998 in 1983 dollars. Another way of looking at it is $25,000 in 1983 is $58,000 today.

If you're worried about money, you might be better off selling your car now.

In any event, there's been a lot posted here about storing the Karma to avoid dead batteries, flat spots on the tires, etc. But who knows what will happen to the connectors and the rest of the electronics after sitting around for 10-15 years?
Thanks for that breakdown of numbers, Ira!

I'm not seriously considering storing my Karma. Nor am I in any financial straits that would cause me to sell the car. In fact, I was thinking that if I did store it, I'd buy another Karma to drive around. ;)

I just wanted some feedback from the forum in case I was missing some opportunity that I shouldn't pass up. I didn't think I was, and the forum seems to be confirming that.
 

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Generally, historic cars from successful brands gain value. Cars made by failed brands won't gain any value.
Here are the poster-children of failed car companies.
http://www.foxnews.com/leisure/2012...e-six-figure-cars-at-barrett-jackson-auction/

http://blog.hemmings.com/index.php/...winning-bricklin-sells-for-record-46-million/

Why then is a DeLorean not worth much, you ask? People are fickle. You never know what the collector-set is ultimately going to go nuts for. However, things change and the DMC's day may still be ahead of it.
 

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Thanks for that breakdown of numbers, Ira! I'm not in any financial straits that would cause me to sell the car. In fact, I was thinking that if I did store it, I'd buy another Karma to drive around. ;)
I think my car is well past the "New in box" stage since I have almost 19K miles on it and besides, I just love driving it. It is tempting though to buy a new or almost-new one from the panicked stampeding hordes and store that one for posterity. I would love to get a signature edition but I don't think anyone with one of those would be willing to part with it. The prices are still too high though, so i need to keep waiting for a proper stampede to start.
 

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I think my car is well past the "New in box" stage since I have almost 19K miles on it and besides, I just love driving it. It is tempting though to buy a new or almost-new one from the panicked stampeding hordes and store that one for posterity. I would love to get a signature edition but I don't think anyone with one of those would be willing to part with it. The prices are still too high though, so i need to keep waiting for a proper stampede to start.
As indicated by the poll, most of us would also buy the Atlantic. But if the Atlantic isn't going to get built, then that will surely start the stampede. So the question is, "If you couldn't buy the Atlantic, would you buy another Karma when the price is about the same?"
 

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If you want to store a car, buy a Ford GT and put it away. These cars will never be worth that much. They have 4 doors. Name 1 collector car that has 4 doors.

Bill
 

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If you want to store a car, buy a Ford GT and put it away. These cars will never be worth that much. They have 4 doors. Name 1 collector car that has 4 doors.

Bill
How about the Tucker I posted a link to earlier in the thread?

There are tons of 4 door collector cars. Walk Pebble Beach much? Yeah, 2 door sports cars are probably an easier 'bet' but you can't deal in absolutes.
 

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If you have a late vin Karma you should be driving the snot out of it. I can understand some apprehension for those people who have non-updated early vin Karma's.
 

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Something else to consider:

Most of the exotic cars that are worth princely sums are in excess of 30 years old. How many of us will be around in 2043?

DM
 

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Something else to consider:

Most of the exotic cars that are worth princely sums are in excess of 30 years old. How many of us will be around in 2043?

DM
That's what kids and grandkids are for - so they can splurge after we are dead and ask why we saved it , but thankful we did :)
 

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I have a very late Vehicle Identification Number--2669--and consider that a good thing.
That's the highest I'm aware of.

And for the record, I'm totally in favor of buying a low mile Karma and bubble wrapping it for 10-20 years. I have a lot more faith in doing that than my 401k...and I can't drive my portfolio. Not to mention, at today's scaredy-cat prices, a spare Karma is great hedge against inflation that is surely coming.
 

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I bought a 1954 GMC 100 Pickup truck this summer that was a frame off restoration, almost a trailer queen. Paid $30m. Got all of the invoices for the restoration done in '05 plus full photo documentation. Poor guy put $80,000 + into it.
In other words---don't fall in love with your future classics. Drive it til it dies. Or buy art.
 

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I bought a 1954 GMC 100 Pickup truck this summer that was a frame off restoration, almost a trailer queen. Paid $30m. Got all of the invoices for the restoration done in '05 plus full photo documentation. Poor guy put $80,000 + into it.
In other words---don't fall in love with your future classics. Drive it til it dies. Or buy art.
Did you mean 30k?
 

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How about the Tucker I posted a link to earlier in the thread?

There are tons of 4 door collector cars. Walk Pebble Beach much? Yeah, 2 door sports cars are probably an easier 'bet' but you can't deal in absolutes.
There were 50 Tuckers made and about 44 or 45 remain. This is why the price is high. But for 40 years they were not a good investment. I have a friend who lives in Tucker, GA (not kidding) who was friends with the owner of number 34. When the father died in the last 90's the car could have been bought for a few hundred thousand. Now its worth over $1.5M. I saw the car once and it just looked nice, but not my bag of tea for collecting.

I've been to just about every car show in the world and I have yet to find a 4-door mass produced collectible car. Cars sitting on the lawn at Pebble Beach are 1-offs or were made in very low quanities; way under 49 even.

I'm sorry, but they just won't ever be collectable. If you can find one running in 10-15 years, it will be dirt cheap.

Bill
 
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