i didn't say they were going up due to inflation, i said they were just keeping up with it.

and what would people say if i had my FC appraised and it came back at $13k. i bet people would laugh and say no way, because i wouldn't believe it either. yes you might sell it eventually for that but as i originally mentioned that is the best case scenario, the person you may take years to find or may not ever even find. i did have a buyer lined up willing to pay $10k for my FC, but he ran into personal issues and couldn't follow through.

 

i had it appraised because i just want to know whats the current value of my car. NOT KBB value, just like having your house appraise for equity. at least i know at what ball park am i gonna play with when its time to let go my FD.

 

So much misinformation from guys on this forum who have purchased 1-2 FDs ever. KBB on 93s are $20k plus. Any credit union will loan 100% retail value if you qualify for the loan. Qualification is no different than any other car of any age. If it has over 100k miles they will charge 1% higher interest rate. My credit union would loan on a FD up to 6 years for 2.79% interest. And yes, value on clean or low mileage example is jumping right now.

 

just ran KBB on my 94 FD with 88k miles and it came back with a value of $13,855

 

^ drop that milage considerably. Try 20K miles.

The fact is KBB does not really reflect fair market price. Many times KBB shows cars to be under valued in respect to FMP.

On a side note:

For insurance coverage on modified cars and/or in exceptional condition: *do not* rely on a third party appraised value. That is unless it has been approved by your insurance company and are in fact paying a premium that reflects that appraisal. For instance, in the case of a total loss you can't expect the company to pony up $30K when you have only been paying a premium on a car they think is worth $15K. Remember Fair Market Price is basically what other FD's go for regardless of modifications and are limited to what is being sold at the time. So if you have modifications or have a car in exceptional condition, make sure you are paying a premium that reflects the true value. On that same breath, that is why I actually have a policy that covers an additional preset value on top of the FMP of the car.

 

Kelly Blue Book doesnt work so well for our cars. Here's the different KBB values for my car (Private Party).

Excellent
$15,823

Very Good
$15,473

Good
$15,198

Fair
$14,398

High to low is only a $1500 difference. We all know that a nice FD with a new engine/turbos will sell for more, and a beater will sell for less. KBB doesn't work for us.

 

Reading comprehension guys. Run it on a 93 and look at the results. At 20 years they consider it a classic. They should update the 94s in the next couple months.

 

I worked as hard as I could on my reading comprehension skills ................. but:

KBB doesnt go back to 93. 94 is the oldest year the site will accept.

 

Christ, why do I even comment here. They recently made that change and from a couple seconds of searching on the site they say they are working on getting the classic vàlues back on the site.

Either way most lending institutions use NADA and they value the 93s and 94s over $20k. But please, you guys who haven't sold around 100 FDs over the last decade please continue to educate me on the resale value.

I'm not trying to be an *** as I realize you have been around a while. You have multiple guys who have owned and sold a couple hundred FDs combined having to argue with guys who have owned a couple. There are exceptions to every rule but values are rising quick for low mileage or extremely clean examples.

 

all i can say is that RX7's price is going up and not going down. Why do you think my insurance company would pay me $19k on my car even i only bought it for $13k? and that car has 73k miles and not in the best shape and that was 3 years ago. one more thing. Please dont compare FC's to FD's. performance and style wise. its different.

 

what credit union is that? im interested on applying a loan with 2.79% and buy another FD for insvestment. Lol! im serious though.hehe. can you please let me know what credit union.

 

I'm not arguing with you about the value of the cars. I have already stated KBB is not valid for our cars. Use your advanced reading comprehension skills to read my posts on this thread . You were the one that said to check it again for the 93's

 

market price won't always reflect valued price, the price is always going to be what someone will pay for a car.

i hear quite a bit about when owners sell their cars because they ask me first if i know anyone looking for their type of car. then i see the ad listings and then usually when they do eventually sell the cars, if at all.

most FDs start in the ranges listed in this thread, at $18k. most usually sell in the $10-13k range, even unmolested clean low mile FDs rarely fetch more than $14k unless you are willing to sit on it for months to years. clean single turbo cars are even more difficult to sell and often rarely sell for more than the equivalent stock untouched FD would.

blue book is just a basic price, an educated guess based on average selling prices. it comes close but it is not always a given to sell for that figure. FDs are cars that people usually do not let go of lightly so many just aren't sold if the price isn't met. due to the rarity of the car this is more often than not true and also why it is difficult to come up with a more accurate figure.

 

When I was in the market for one, they denied financing a '94 with 44k miles, THEIR reason being: too old to finance.

perhaps if my income was so great then that oldness wouldnt have mattered---but the CU never said anything about MY end being the reason they wouldn't finance me..

this is just one example, but you said *any*

EDIT: just wanted to add, the CU ran a KBB that returned the value at 19k and the guy was only asking 14k, so its not like it was the dude's asking price either. I do not think these cars are easy to finance at acceptable rates anymore. Or at least in my region

 

Any half way decent FD that sells for 10k has a blown engine.

Good luck finding a good one for 13k. You'll have to troll everywhere on the internet for months and god forbid if you pull the trigger on the wrong car, you won't have more than a day to decide because it will be long gone if it's truly a deal.

 

i don't know how you manage to find the buyers who are all looking at the right time but for the most part i find that the expectations put forth here are a bit high. there is a huge difference between a $10k FD anda $13k FD. the reasons for an FD being listed or sold for $10k are usually major problems, like salvage title, blown or failing engine or the car is just a hacked up pile.

FDs selling for $13k for decent examples usually don't take too long to sell. but most people ask for $15k and up, and if they are unwilling to negotiate then they usually sit on them for long periods of time.

$13k seems to be the make or break point for most FDs, not $18k-20k that people are pointing out as KBB value for unmolested higher mile cars. the last FD i heard of being sold was a customer's '94, had 68k on the clock, silverstone mica, black and red leather interior in 9.5/10 condition with working door handle and map pocket, a modest M2 airbox and downpipe with a fresh rebuild on the engine, sold for $13.5k when iirc the asking price was $15k.

 

state farm actually quoted me for an auto loan on an FD on Monday....them and USAA both. and both of them were for 2.99% just an FYI

 

As I said older cars are harder to sell period. Again, if the car sells quickly then the "niche" car is very likely under priced.

Dang prices have certainly shot up:

Find Your Car: Mazda RX-7 Listings Near San Diego, CA 92123 - AutoTrader.com

 

IMO, FD prices are slightly going higher, i do believe that expecially for clean ones. Just recently, a 94 with 15k miles PEP packaged Chaste White sold rather quickly for $25k. Definitely becoming a collectors car i believe. I'll sit on mine forever unless someone offers the right price for mine.

 

simply owning one, even if it sits in the garage without insurance will cost more in maintenance than it will ever appreciate in value.

 

^how much does it cost in maintenance per year?

 

it depends if you would risk having things go beyond maintenance before servicing it.

say some let a car sit in their garage for 7 years and then sold the car or decided to take it out of hibernation, you'd trailer it and then service it. flushing all the fluids and doing regular maintenance on your own without paying someone to do it would run about $400-500, and hoping nothing major needs to be addressed like flushing the injectors or replacing dry rotted rubber. in all it would probably marginally equal out to the value increase in the car, but it mainly depends how many more points need to be addressed than the simple ones, like belts/hoses/vacuum lines/spark plugs/wires/battery/etc.

things fail with disuse and driving the car and keeping it insured would run exponentially higher but it is just something you chalk up to every day costs and rarely actually calculate how much the car costs to keep in service. most people just ignore the cost, but if you look at the car as a collectible you have to take cost into account otherwise you are probably losing more money to have a garage ornament than you may realize.

say you have a original pristine 1967 corvette you bought new and maintained for 47 years. say the car is now worth $100,000, except you did pay $5,500 for it new(which incidentally is $38.5k). over the span of that 47 years you more than likely are on the losing end in maintenance and repairs for the car to actually still be valued that highly. many people's jaw drop at the car's value, i see the time invested to keep it's value that high or to restore the vehicle, and in most cases there is a very small list of cars that actually have sold for more than they were paid for new, many of them are due to rarity and the facts above. i simply never look at a car as an investment unless i get it for stupid cheap and plan to immediately sell it.

i've even had people come in and try to argue with me about the rarity of the automatic RX7, as if they could somehow be worth more. there are times when it is just difficult to talk to people with a straight face.

 

$400-$500 on self maintenance seems exceeding high but then again after a 7 year span that only comes out to be $71 a year.

I'm not too sure that your example on the 67 mustang works as you intended:

For the same example on the 67 mustang. I pay $1400 a year for 3 cars and two drivers. My Rx-7 alone is 400 for full coverage insurance (not including an additional equipment insurance premium for my mods). Given that we are talking about a stock 67 we'll take as if my 7 is also stock but lets make it an even $500 for simplicity. Not taking inflation into account lets take$500 insurance for 47 years. $500 x 47 years = 37,000 + 38,500 (price of the mustang) = $75,500 and we both know that is extremely off because there is no way anybody is paying $500 a year for insurance in 1967. If anything it was like $50 dollars

 

you might be paying $50 a year in 1967, except you were only making that much per week more or less. with inflation $50 was $350 comparatively speaking today, people only made a few hundred dollars per month. if you put your money in a bank that the interest rate cancelled out the inflation value then the $50 you put in 47 years ago would now be the $350.

all things equal out, if you take them in the correct context.

$400-500 in maintenance over a 7 year span was my lowest figure, not exceedingly high if you encounter the situation. would you trust to drive on tires that haven't been used for 7 years? the hoses and belts? the fuel tank with old fuel and fuel filter soaked in that rotten fuel? in reality it's more like $1500-2000 for a shop to do proper maintenance on, because most people wouldn't trust the car after that period and for good reason.

many of these low mile cars run into those problems, lacking maintenance and issues pop up on their drives to their new homes.

 

Taking today's prices into consideration the figure still only came out to be $75,500.

To be honest I really don't know what you have against FD's, but it is palpable. The truth is that most people do not buy cars for investment purposes, as money is expected to be lost. But it is nice to hear that these cars are going up in value. No matter how much you try to wet blanket the notion.