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Thread: should i or shouldn't i??

  1. #1
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    should i or shouldn't i??

    Greetings Auto and Freedom lovers,

    I own a '81 mb380SL (a real beauty) that needs some work (maybe around $3-4K?? 96K original miles)

    With the economy the way it is, I can't decide whether to invest in the car or in gold (or silver) OR land!!

    Note: the amount currently invested in each entity: the car, the gold and silver holdings, are approx equivalent (10K) at this point.

    I have the cash to spend -- Any thoughts?

    BTW -- I already give amply to charity and am considering donating this car to the same.... not sure what to do???

    Thoughtful replies only please... Thanks!


    The best place to shop around is in the market place of ideas...

  2. #2
    Vulture of The Western World Eric's Avatar
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    Well, lots of variables here!

    Is the MB a hobby car? Or is it your main everyday car?

    If it's a hobby car, do you have secure storage such as a garage?

    If yes, then there's no hurry getting it fixed unless you just want to get it fixed right away.

    If you need it to be operational on the other hand, then you probably should consider whether it's worth putting the money into it, in terms of the value of the car as an everyday driver, as well as its probable reliability as an everyday car - vs. using the $3-$4k to buy a newer/lower miles and probably more reliable used economy car such as a Toyota Corolla.

    Gold and silver?

    I know some people are big into this, but to me, they're just metal - not currency - and have no intrinsic value. Land, on the other hand, has intrinsic value. I think it's a better repository of value. You can use land, or rent it, or sell it when you need liquid cash.

    That's my 50 cents!








    Quote Originally Posted by nigh_eve View Post
    Greetings Auto and Freedom lovers,

    I own a '81 mb380SL (a real beauty) that needs some work (maybe around $3-4K?? 96K original miles)

    With the economy the way it is, I can't decide whether to invest in the car or in gold (or silver) OR land!!

    Note: the amount currently invested in each entity: the car, the gold and silver holdings, are approx equivalent (10K) at this point.

    I have the cash to spend -- Any thoughts?

    BTW -- I already give amply to charity and am considering donating this car to the same.... not sure what to do???

    Thoughtful replies only please... Thanks!


    The best place to shop around is in the market place of ideas...

  3. #3
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    Thanks Eric

    It is a hobby car even though I'm not an "enthusiast." Unfortunately other junk has outpaced the room in the garage, but I'm negotiating a deal with my brother to store it in his. So your advice helps somewhat. I need to get the car back in the garage so that the car doesn't suffer while I remain indecisive. Thanks again.

  4. #4
    Vulture of The Western World Eric's Avatar
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    You bet!

    Keep us posted - and welcome to the site...

    Quote Originally Posted by nigh_eve View Post
    It is a hobby car even though I'm not an "enthusiast." Unfortunately other junk has outpaced the room in the garage, but I'm negotiating a deal with my brother to store it in his. So your advice helps somewhat. I need to get the car back in the garage so that the car doesn't suffer while I remain indecisive. Thanks again.

  5. #5
    Senior Member grouch's Avatar
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    Quote Originally Posted by nigh_eve View Post
    It is a hobby car even though I'm not an "enthusiast." Unfortunately other junk has outpaced the room in the garage, but I'm negotiating a deal with my brother to store it in his. So your advice helps somewhat. I need to get the car back in the garage so that the car doesn't suffer while I remain indecisive. Thanks again.

    I've got an '82 version of the car. Gold and silver may not have much room to increase in value then there's always the problem of when to sell. In and of themselves they don't do anything.

    My car doesn't get out of the garage much due to a neck injury that makes it hard to get in and out of it. I think if I had the opportunity, I'd trade my car for land. They can always mine more metal and build more cars but nobody is making more land.
    Honk if you love Jesus.

    Text if you want to meet him.

  6. #6
    I think of gold/silver in terms of retained value rather than appreciation. In stock market terms, I move into those metals as a way to "cash out" without holding dollars which fluctuate in value. I think over time gold/silver will increase as the dollar goes to crap. Disregarding dollars, if you were to price many common things (homes, Dow, etc) you would find that it takes nearly the same amount to gold to buy the same amount of that item, even though in terms of dollars they went up.

    Dr North recommended a book for me to give to my son, "Whatever Happened to Penny Candy?" to explain all of this. It's a good read.

    Like Eric, I prefer land as an investment. Land in good locations will appreciate over time. Many of the woods and swamps I played and camped in as a kid are now housing developments. The owner of them has done very well, but it's not something with a quick turnover for a profit.

  7. #7
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    Quote Originally Posted by nigh_eve View Post
    ...needs some work...
    You haven't revealed _what_ work it needs. M-B parts are generally not super expensive, but it may take a while to get them, and labor costs can add up fast if you're not a DIYer.

    Talk to a charity. They have books that show how much of a deduction you can defend by car model. If you are able to take advantage of the deduction, consider taking it, and investing what you save in taxes. ... in land.

  8. #8
    Quote Originally Posted by nigh_eve View Post
    Greetings Auto and Freedom lovers,

    I own a '81 mb380SL (a real beauty) that needs some work (maybe around $3-4K?? 96K original miles)

    With the economy the way it is, I can't decide whether to invest in the car or in gold (or silver) OR land!!

    Note: the amount currently invested in each entity: the car, the gold and silver holdings, are approx equivalent (10K) at this point.

    I have the cash to spend -- Any thoughts?

    BTW -- I already give amply to charity and am considering donating this car to the same.... not sure what to do???

    Thoughtful replies only please... Thanks!


    The best place to shop around is in the market place of ideas...

    You haven't mentioned where you live (or at least I haven't seen it) so...Before investing any money in the Merc make absolutely sure that there is no rust on it, anywhere. These cars do not need to be driven in the winter salt to rust, water leaks in and they rust from the inside out. Pull all the carpets out, including those where the inner rockers meet the floor pan, and inspect.

    See this pic for more on where these cars rust.




    Quite a few of these cars are available for around $10k with similar mileage and in good condition. So, because you state that you are not an enthusiast, IMHO before spending another $3-4k on it make sure it is worth the investment.

  9. #9
    Senior Member eesquared's Avatar
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    I would suggest you invest in the land, and if you have any left over from your budgeted cash, contribute a little more to the gold/silver cache.

    Then, you can purchase a good used pickup to transport yourself and your family (?) to said land to ride out the impending crash.

    Just my $.02 ~

  10. #10
    Senior Member eesquared's Avatar
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    Quote Originally Posted by Steve View Post
    I think of gold/silver in terms of retained value rather than appreciation. In stock market terms, I move into those metals as a way to "cash out" without holding dollars which fluctuate in value. I think over time gold/silver will increase as the dollar goes to crap. Disregarding dollars, if you were to price many common things (homes, Dow, etc) you would find that it takes nearly the same amount to gold to buy the same amount of that item, even though in terms of dollars they went up.

    Dr North recommended a book for me to give to my son, "Whatever Happened to Penny Candy?" to explain all of this. It's a good read.

    Like Eric, I prefer land as an investment. Land in good locations will appreciate over time. Many of the woods and swamps I played and camped in as a kid are now housing developments. The owner of them has done very well, but it's not something with a quick turnover for a profit.
    Whatever Happened To Penny Candy? is one of my favorite books. I recommended it to my home school administrator and she made it part of the curriculum!

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