$100,000 Challenge, Take 2: Nathan of Brainfertilizer Fame's Max Cars Edition
After reading Chris Hafner's post, I realized that if I hadn't gone so Mazda-heavy, I could have gotten some great 20- and 30-year-old cars in my garage.
I wanted to try again, with a fresh slate. I hope you'll indulge me, and I hope you even find it entertaining.
But I've got to change the rules, slightly. I'll still have limitations, because limitations help channel and inspire creativity.
First change: no "car currently on sale" requirement. All cars need to be 20 to 30 years old. Maybe 15, at most. The point is to get cars that are old enough to be great value, but not so old as to be "classic". The point is to catch cars near the bottom part of the trough, where the value has declined as much as possible, but not to the point where the value starts to rebound from rarity/coolness.
Second change: I have to have exactly 20 cars. No more, no less. The point is to see how close I can get to the $100k total without going over, for exactly 20 cars.
Third change: All car prices will be according to the NADA "clean retail" price, but here's the twist: if you can manage to find a 20-year-old car in "clean retail" condition, it won't really be ready to go. The coolant system will be having problems, or it will consume oil as lustily as Vikings drank mead, or the paint will be starting to flake off, or a few minor rust points, or the alignment will be horribly off, or...you get the picture. A 20-year-old car that wasn't lovingly restored to new condition is going to have some issues. So right off the bat, I will budget $2000 per car to get it up to speed. That might go to a tune-up, or a paint job, or a replacement door + paint, or an alignment, or a new radiator, etc. That might be an underestimation, but we are starting with a "clean retail" example, so I think an average of $2000 will work.
That leaves me with $60,000 to get 20 cars. So I'm looking for cars I can get for averaging just about $3000 each.
That's the rules I have. Let's see what I come up with.
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