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I bought a worn out 98 S70, aka, how these cars can be so expensive

Help, Advice and DIY Tutorials on Volvo's extremely popular car line -- Volvo's 1990s "bread and butter" cars -- powered by the ubiquitous and durable Volvo inline 5-cylinder engine.

1992 - 1997 850, 850 R, 850 T5-R, 850 T5, 850 GLT
1997 - 2000 S70, S70 AWD
1997 - 2000 V70, V70 AWD
1997 - 2000 V70-XC
1997 - 2004 C70

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Re: I bought a worn out 98 S70, aka, how these cars can be so expensive

Post by wheelsup »

abscate wrote: Mon Feb 03, 2020 4:20 am
tryingbe wrote: Tue Jul 05, 2016 4:35 pm Car is sold and picked up. I made $20.08/hr for the hours I worked.

Now, on to my other non-car projects...
Old thread alert

It was great that the poster shared this, I pay myself $25 for car work. It’s hard to get to this number flipping a car if you do what’s really needed.

As posted above, these cars are lousy flips, but great buys for refurbishing to own.

I agree. For some interesting numbers, my wife and I bought a Prius in 2011 for $21,000 (2010 model). Current value around $6,000. So $15,000 lost in 9 years is about $140/month in depreciation. Maintenance costs have been minimal however. It kills me to see that.

Imagine a two car household, buying a more expensive car. My neighborhood is solidly middle class and most households have $25k-$30k cars x2 in their driveways.

Owning my 850 and working on it myself (and my wife's VW which I had to do a LOT of work on :)) was one of the main ways we catapulted becoming financially free in our 30's. What savings we had we stuffed into investments instead of buying fancy, depreciating cars. Imagine if more of America did that.

As much as I want a newer car I just can't physically get myself to buy one. The thought of losing hundreds of dollars a month for years really hurts.

That being said, it's time for a newer car and I'm not sure what route to go down. It seems anything newer than our 2000 and under cars are pretty much dealer or mechanic only when it comes to fixes. Anything 2010 and newer is out of the question.

It might be refurbishing older cars is the way to go for those interested in keeping costs down. But you run into problems like wiring starting to crumble etc. Ugh.
1995 850 GLT Wagon w/ 185,000 miles
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Re: I bought a worn out 98 S70, aka, how these cars can be so expensive

Post by abscate »

If you calculate the lost cash for a 2011 investment today, it will make you sick. Don’t do that
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