Repair-It

http://www.msn.com/en-us/money/markets/ ... &ocid=iehp

Analysts continue to stress that, eventually, the excess supply will force cuts in production and the market will “rebalance,” as the International Energy Agency recently put it. Nonetheless, in its recently released World Energy Outlook, the agency considered the possibility of a “low oil price scenario” in which prices stay at $ 50 or $ 60 per barrel well into the 2020s.

Time to get that 1987 1 ton 4WD truck with a 454 and 3-speed auto that I always wanted as a daily driver.

If you can find the truck body, I have a powertrain you can use.

I blame the resurgence in V2 prices on the low oil prices. Gas is $1.699 down the street from my work in SC. Gas has fallen so far down my Pareto of monthly expenses, it's hardly even worth thinking about.

I still paid over $2/gal last night for 87.

I don't think the major driver of getting a V2 (for example) is gas prices. I think our previous conversations on this kind of conclude that regardless of gas prices, you are probably economically incentivized to buy a cheaper, well kept, higher mileage V2, and not daily it. But not because of gas prices - because you put less into it up front, and preserve the value better for when you decide to move on. I really don't think gas prices play into that very much at all at $1.69/gal or $4/gal.

And with these gas prices, I find that my day to day life is impacted just about zero. I am no more inclined to pleasure drive now than I was before. My driving style hasn't changed. The biggest benefit seems to be home heating oil prices, which are now relevant to me.

I don't really care about gas prices for something I am not going to daily drive. For someone who is planning to daily drive it, the 12/18 or whatever rating may be a bit tough to swallow. We're almost at the point where rear tires might end up costing more cents per mile than gas and certainly depreciation will be much higher than fuel cost. I guess this is where the hidden value of buying a higher mileage car and not daily driving it comes in.

Buying a used V2 to daily sounds reasonable for an enthusiast, and yet, it is not a smart move. The depreciation alone makes me uncomfortable.

On the other hand, compare to what normal people do. They buy a car for $30k, drive it for 150k and sell it for $10k. I consider that outrageous, especially when you look at what the car actually is.

In April, it will be 10 years since I bought the Elise. I really couldn't be happier with how that turned out from a resale perspective. After buying it with 3k miles on it and putting about 50k of my own miles on it, the car is worth probably $7500 less than what I paid for it, and this gap is narrowing as good used Elises are starting to appreciate slowly. I think it would have been hard to do any better buying anything that new (6 months old) and low mileage (3k) over the period that I owned it. If only I had the foresight to buy a NSX or a 993 911 shortly after I got out of college. With either of these two, I could have made money while driving a legendary performance car.