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  • Hoarding old cars

    From Dim Witte@21:1/5 to All on Wed May 3 18:59:00 2023
    Always wondered about what use there is to buy old cars and when they go belly up, then keep them parked around nearby.

    Now I wonder if their is a plan for doing this. What if it's a way to invest cash you don't declare with taxes, don't buy insurance for, and just wait to see if later sales go through when prices go up? I read that in Anchorage only one person in seven
    has auto insurance, and see them for sale at auto auctions.

    Where I live, lots of cheap cars needing repairs, in the $1-3K range, are being sold on Craigs LIst as "rebuilt" or "salvage." Seems like parts can be salvaged or they can be worked on as time permits. Maybe buy older Ford SUVs that can exchange parts?
    Specialize in Ford SUV repairs, parts, or sale of used ones.

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  • From The Real Bev@21:1/5 to Dim Witte on Wed May 3 20:57:26 2023
    On 5/3/23 6:59 PM, Dim Witte wrote:
    Always wondered about what use there is to buy old cars and when they go belly up, then keep them parked around nearby.

    Now I wonder if their is a plan for doing this. What if it's a way to invest cash you don't declare with taxes, don't buy insurance for, and just wait to see if later sales go through when prices go up? I read that in Anchorage only one person in
    seven has auto insurance, and see them for sale at auto auctions.

    Where I live, lots of cheap cars needing repairs, in the $1-3K range, are being sold on Craigs LIst as "rebuilt" or "salvage." Seems like parts can be salvaged or they can be worked on as time permits. Maybe buy older Ford SUVs that can exchange
    parts? Specialize in Ford SUV repairs, parts, or sale of used ones.

    "Salvage" cars, at least in Kalifornia, are those that have been totaled
    by the insurance company (cost of repair is greater than the value of
    the car) but the owners are allowed to keep them. BUT if they are to
    stay on the road they have to pass a CHP (or DMV or Gov. Newsom or the
    Magic Unicorn) inspection and the title is marked SALVAGE. We have a
    salvage Gold Wing which is completely fine. I know of two 'salvage'
    cars that simply broke in half and had to be towed to the wrecking yard.
    'Inspections' aren't all they're cracked up to be.


    --
    Cheers, Bev
    "Not everyone can be above average so why
    shouldn't we be the ones to suck?"
    --Anonymous School Board Member

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