Do kit cars hold their money?
Discussion
I am tempted to get a kit car, locust, tiger, Westfield, lotus 7 type thing for around £5k. I have savings for a rainy day, but figure I could buy something like this, it won't cost much to keep, may not even tax it and keep for track days, and if a rainy day comes I could sell.
Do they hold their money?
Anything to look out for?
Cheers
Do they hold their money?
Anything to look out for?
Cheers
sulli said:
I am tempted to get a kit car, locust, tiger, Westfield, lotus 7 type thing for around £5k. I have savings for a rainy day, but figure I could buy something like this, it won't cost much to keep, may not even tax it and keep for track days, and if a rainy day comes I could sell.
Do they hold their money?
Anything to look out for?
Cheers
It all depends what spec you build it too Do they hold their money?
Anything to look out for?
Cheers
But I wouldn't think your going too get all your money back if you sell it
I am not sure about them holding money but you could build one new and sell it for more than cost of parts.
Back in 2002 I built a Westfield SEiW (2.0 Zetec), bought the kit, sourced the engine and several parts 2nd hand, did not skimp on setup (DTA engine management and throttle bodies) and came to £10k grand total. Had a nice summer in at and did 1500 miles and sold for £11500....maybe I was lucky. There was a good years worth of work and research so that I could get quality items at discount and if accounted for my labour I would be out of pocket.
Back in 2002 I built a Westfield SEiW (2.0 Zetec), bought the kit, sourced the engine and several parts 2nd hand, did not skimp on setup (DTA engine management and throttle bodies) and came to £10k grand total. Had a nice summer in at and did 1500 miles and sold for £11500....maybe I was lucky. There was a good years worth of work and research so that I could get quality items at discount and if accounted for my labour I would be out of pocket.
I have been building kit cars for over 50 years. Every one has cost me both time and money. That is why I worked as a Accountant for 40 years to provide the fun money and house/home/marriage/family/ etc. Accountancy also got me into seriously interesting business opportunities. I did enjoy the brain stimulation of finance but not the politics.
If you stick to Caterham/Westfield appreciation level of car or the few similar top end kit cars AND build the car properly AND keep a record all the way through, AND use quality sourced components AND ensure age related registration(Q plates are not popular) AND even better use a new chassis AND get a brand new registration you might just about break even, with the right car.
But I have yet to achieve goal that and I an currently building five new kit cars and seven rebuilds. I doubt I will break even on one. I certainly will not on four. I do it because I enjpy it and for no other reason. Personal satisfaction has always been my sole aim in everything in life. I am that selfish, I regret to say. But it has its upsides.
If you stick to Caterham/Westfield appreciation level of car or the few similar top end kit cars AND build the car properly AND keep a record all the way through, AND use quality sourced components AND ensure age related registration(Q plates are not popular) AND even better use a new chassis AND get a brand new registration you might just about break even, with the right car.
But I have yet to achieve goal that and I an currently building five new kit cars and seven rebuilds. I doubt I will break even on one. I certainly will not on four. I do it because I enjpy it and for no other reason. Personal satisfaction has always been my sole aim in everything in life. I am that selfish, I regret to say. But it has its upsides.
sulli said:
MG CHRIS said:
Depends on the kit, who built it, quality of it, specs of the kit etc etc. If you get a good built high spec kit then you wont lose that much money.
Cheers, is PH classifieds a good place to look and would you recommend anywhere else?Steffan said:
I have been building kit cars for over 50 years. Every one has cost me both time and money. That is why I worked as a Accountant for 40 years to provide the fun money and house/home/marriage/family/ etc. Accountancy also got me into seriously interesting business opportunities. I did enjoy the brain stimulation of finance but not the politics.
If you stick to Caterham/Westfield appreciation level of car or the few similar top end kit cars AND build the car properly AND keep a record all the way through, AND use quality sourced components AND ensure age related registration(Q plates are not popular) AND even better use a new chassis AND get a brand new registration you might just about break even, with the right car.
But I have yet to achieve goal that and I an currently building five new kit cars and seven rebuilds. I doubt I will break even on one. I certainly will not on four. I do it because I enjpy it and for no other reason. Personal satisfaction has always been my sole aim in everything in life. I am that selfish, I regret to say. But it has its upsides.
Cheers Steffan , but I am not looking to build, just buy one already doneIf you stick to Caterham/Westfield appreciation level of car or the few similar top end kit cars AND build the car properly AND keep a record all the way through, AND use quality sourced components AND ensure age related registration(Q plates are not popular) AND even better use a new chassis AND get a brand new registration you might just about break even, with the right car.
But I have yet to achieve goal that and I an currently building five new kit cars and seven rebuilds. I doubt I will break even on one. I certainly will not on four. I do it because I enjpy it and for no other reason. Personal satisfaction has always been my sole aim in everything in life. I am that selfish, I regret to say. But it has its upsides.
Steffan said:
I have been building kit cars for over 50 years. Every one has cost me both time and money. That is why I worked as a Accountant for 40 years to provide the fun money and house/home/marriage/family/ etc. Accountancy also got me into seriously interesting business opportunities. I did enjoy the brain stimulation of finance but not the politics.
If you stick to Caterham/Westfield appreciation level of car or the few similar top end kit cars AND build the car properly AND keep a record all the way through, AND use quality sourced components AND ensure age related registration(Q plates are not popular) AND even better use a new chassis AND get a brand new registration you might just about break even, with the right car.
But I have yet to achieve goal that and I an currently building five new kit cars and seven rebuilds. I doubt I will break even on one. I certainly will not on four. I do it because I enjpy it and for no other reason. Personal satisfaction has always been my sole aim in everything in life. I am that selfish, I regret to say. But it has its upsides.
This you build kit for the enjoyment not to make money if you are carefull and savvy you can make some money but it 99% of builds the initial build spend will be a distant memory. If you stick to Caterham/Westfield appreciation level of car or the few similar top end kit cars AND build the car properly AND keep a record all the way through, AND use quality sourced components AND ensure age related registration(Q plates are not popular) AND even better use a new chassis AND get a brand new registration you might just about break even, with the right car.
But I have yet to achieve goal that and I an currently building five new kit cars and seven rebuilds. I doubt I will break even on one. I certainly will not on four. I do it because I enjpy it and for no other reason. Personal satisfaction has always been my sole aim in everything in life. I am that selfish, I regret to say. But it has its upsides.
Even with me building a mev exocet planned to spend around 5k to build one on the road well it's still not on the road (iva is another £450+90 re test fee plus transport) im getting close to 6k. Will I make money possible could sell it for 7-8k to the right person. When you consider the original marketing of the car was to build one for 3k if I remember.
Kit car prices are usually quite seasonal. A 5K Westfield wont depreciate anything like as quick as most mainstream cars. Also keep an eye on SYLVA STRIKER, SYLVA PHOENIX, SSC STYLUS, SYLVA FURY.
Get on the KIT CAR Forum for more focussed opinion. And LOCOSTBUILDERS.
Theres a Zetec engined Westie on Fleabay at 5K and a high spec ZX12 bike engined Phoenix at 7K. The Phoenix will be virtually unbeatable on a trackday.
Get on the KIT CAR Forum for more focussed opinion. And LOCOSTBUILDERS.
Theres a Zetec engined Westie on Fleabay at 5K and a high spec ZX12 bike engined Phoenix at 7K. The Phoenix will be virtually unbeatable on a trackday.
spyder dryver said:
Kit car prices are usually quite seasonal. A 5K Westfield wont depreciate anything like as quick as most mainstream cars. Also keep an eye on SYLVA STRIKER, SYLVA PHOENIX, SSC STYLUS, SYLVA FURY.
Get on the KIT CAR Forum for more focussed opinion. And LOCOSTBUILDERS.
Theres a Zetec engined Westie on Fleabay at 5K and a high spec ZX12 bike engined Phoenix at 7K. The Phoenix will be virtually unbeatable on a trackday.
I accept that you could buy a kit car low season needing a little fettling tidy it up over winter and probably sell at a modest profit. However I would almost certainly do too much and lose money on the deal. Kit cars are about getting the car absolutely right which is a diminishing return approach. Choose you car carefully, I agree the Sylva cars are generally excellent Jeremy Phillips was an excellent designer. Very driveable cars but not always pretty the Riot, Mojo and Leader being just that.Get on the KIT CAR Forum for more focussed opinion. And LOCOSTBUILDERS.
Theres a Zetec engined Westie on Fleabay at 5K and a high spec ZX12 bike engined Phoenix at 7K. The Phoenix will be virtually unbeatable on a trackday.
MG CHRIS said:
Even with me building a mev exocet planned to spend around 5k to build one on the road well it's still not on the road (iva is another £450+90 re test fee plus transport) im getting close to 6k. Will I make money possible could sell it for 7-8k to the right person. When you consider the original marketing of the car was to build one for 3k if I remember.
A kit car makes total sense because they do hold their money, or lose it slowly.
A Lotus 7 type car will cost the same today as you can expect to get for it in a year or two.
I have owned several and built two (building is a labour of love no profit) I even made money on a Robin Hood S7, however this car is not up to much being poor design.
I have a Quantum 2+2 turbo which is a good car but cheap to buy and cheap to sell.
The question is how does a kit car compare with a mainstream maker or classic car?
Some classics make money. I have owned classics that were cheap to buy and are now beyond my wallet.
What car does not lose money?
An example, Mazda RX8, fantastic car when the engine is not blowing up so went from coupe of the year to cheap in a very short time.
A Lotus 7 type car will cost the same today as you can expect to get for it in a year or two.
I have owned several and built two (building is a labour of love no profit) I even made money on a Robin Hood S7, however this car is not up to much being poor design.
I have a Quantum 2+2 turbo which is a good car but cheap to buy and cheap to sell.
The question is how does a kit car compare with a mainstream maker or classic car?
Some classics make money. I have owned classics that were cheap to buy and are now beyond my wallet.
What car does not lose money?
An example, Mazda RX8, fantastic car when the engine is not blowing up so went from coupe of the year to cheap in a very short time.
sulli said:
I like that. I had a 1600 K Series engined Striker, it was a great car.As for ownership costs.
You could probably buy it and get close to your money back when you sell, what you won't get back is what you spend on it.
I sold mine for a few hundred more than I paid for it, but I had spent thousands getting it the way I wanted - LSD, different cams, gas flowed, wider wheels/tyres, wider cycle wings and rear bodywork, I didn't get that back.
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