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Subject:Re: Total restoration cost!
From:Malcolm Stebbins
Date:Fri, 2 Feb 2007 06:59:40 -0800

It may be that the smiles on our faces are more important than the money.  It might be more about
"utility theory" and not so much about the money.  Having $30/$44/$65,000 says NOTHING about the
"opportunity cost" in adventure and smiles.  I'd rather have 10 years worth of adventure and
smiles than $65,000 in 10 years.  I've had my vans in Saudi Arabia, Morocco, I drove my van from
Cairo to Amsterdam, and several trips through England and Western Europe. I've driven across
Canada a few times and across the northern US.  And I'm just getting warmed up!

As for "In general, car addicted people are not good money people." ...... I have a Pd.D. in
Finance from a big school :-)   and I am an Associate Professor of Finance at my local U, and I
can tell you with ABSOLUTE authority! that "it's not about the money"  The investment is in my
life!, Not in my van. "economic sense" is subjugated to lifestyle and adventure.  :-)    Malcolm
Stebbins

--- Dennis Haynes <dhaynes@OPTONLINE.NET> wrote:

> One thing I don't see mentioned is the cost of the money! If you have $30K in cash to put into
> your vehicle, think of what that could be in 5 years. At a modest 8% you would have over $44k in
> 5 years. Almost 65K in 10. The 30K in cash could be a future retirement home. Heck, you could
> invest the 30k, use the $200 month earnings to pay off a cheap car and still have the $30k at
> the end. Well, not quite with taxes and stuff.
>
> In general, car addicted people are not good money people. .......................
>
> As for spending that type of cash on a vehicle for a trip, just don't make economic sense.

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