Editor;
Re: No one makes money on cars? (PM Mailbag Friday, 11 March 2016) – Extreme arguments do not make the rule. Firstly, you are wrong on the figure. This car sold for $5,300 in 1971 which would have been my living costs for three years of college at the time. With inflation that $5,300 price (according to “Carsguide”) would now be worth $31,029. The garaging costs, the mothballing costs it is an asset you also need to insure against theft and fire for 45 years and below is your return (dividends in) from the period in Dow Jones Industrials. If it was 7,000.00 then it would now be $658,000.00 with dividends reinvested for 45 years. (9,400%) Everyone loves to talk about “what they made” but no one likes to talk about what it cost to make it.
Robert
