QOTD: Why Do People Store Brand New Cars And Never Drive Them?

I’ve always been utterly baffled by how many people will buy a new car and then instantly (or very shortly thereafter) put it in storage, never to be driven. What is the point? The whole point about cars is to drive them, to experience them, to use them, to savor the sensations, to appreciate their dynamic qualities.

It seems more than a bit like marrying a beautiful woman or man and then never having sex with them.

And of course it’s almost invariably a bad investment. If the owner of this 1979 Corvette had put the $13,000 he spent on it in the S&P 500 (stock market index), it would be worth $1.68 million now. Instead, he got….$38, 500, which is way less than what he paid for it, adjusting for inflation. And how much was spent on its storage?

The owner of the 1979 Pontiac T/A with 37 miles did a bit better, but not all that well either: It sold for $220k; still a lousy investment, with a total return of some 1,803%, or about 14% of what the S&P returned.

Undoubtedly genuine exotic classics would have done better, but did anyone really expect a ’79 Corvette or any of the other low mileage cars covered in the previous post expect comparable increases in their value?

I don’t get it. Maybe some of you do. If so, please enlighten me.