Re: Car Values
Alanh (alanh@dhp.com)
Thu, 24 Apr 1997 11:43:03 -0400 (EDT)
I feel the same way about my 1987 Peugeot 505 STI. I paid $1800.00 US for
it. It has 119,000 miles on the odometer. The interior is fine, there are
some minor electrical problems, and the engine has some blow-by. But
considering what I paid for it, its a steal. I ride in other cars that I
feel are comparable. (Volvo, BMW, Saab, MB) and am disappointed. I feel
that I would have to pay well over $32,000 US (fat chance) to maybe
achieve what I currently have in my 1987 505. I dont think it is a bit
unreasonable to buy even a new engine when my wears out. (other than the
price)
Even with the $6500.00 price that Peugeot wants for a crate motor, I still
feel I would have a better car. Why should I feel that it is necessary
like so many Americans do when their cars roll past 100,000 to buy an new
car? I think the price of new cars is pathetic. With the amount of miles I
could put on a new engine does it make economical sense to buy a new
comparable car? I beg to differ with anyone who considers the 505 as
dated. After washing my car and going out for a drive, people will ask if
that a new Peugeot!! No Sir, its the same body style that Pininfarina
designed in 1980! The only new feature I would want to ad is driver and
passenger airbags. I could see my self driving this car another 7-9 years.
The only problem I have now is that my wife wants one! As far as insurance
is concerned, if I did do a significant amount of restoration I would go
for an agreed upon value for my car.