RESET 07-08-2019: Average cost of the AVERAGE DeLorean Daily Driver In Today's Market

[Ron]

The longstanding estimate of $25K for a Daily Driver seems to be long gone.

What do you say the average cost of a Daily Driver (as it sits) is in the current market?

[Rich_NYS]

The longstanding estimate of $25K for a Daily Driver seems to be long gone.

What do say the average cost of a Daily Driver (as it sits) is in the current market?

Serious question: what is a DD "as it sits?"

[Michael]

Serious question: what is a DD "as it sits?"

Carb conversion.

[Silverbullet]

I see it as a turn the key and drive without fear.... as they say... all sorted out... today that is 35,000+

[Ron]

Exactly.
Until recently, the consensus seemed to be that a DD ran about $25K and the cost to make a $15K D a DD was $10K; a $20K D, $5K...
But many pointed out that it would depend on what was wrong with it, the mechanical skills of the new owner, etc. I don't want to include these.

[Parzival]

Fully serviced car now is like 40k or more, and climbing!

[Riley88]

For a car i would consider "good" and worth DDing i havent seen many below 37k

[Quinn]

Yep, paid 37k for my daily driver back in January. Of course, this was in California. Not sure how prices vary across the states, or in other countries.

[vwdmc16]

How does the cosmetics play into this figure? I wouldn't hesitate to drive mine across the country right now but it needs facsia paint, panel alignment, new seats and carpets badly. I've found it hard to compare my car with any others since it's so rare for one to be mechanically solid and clean underneath but lacking cosmetically.




I see it as a turn the key and drive without fear.... as they say... all sorted out... today that is 35,000+

[Rich]

How does the cosmetics play into this figure? I wouldn't hesitate to drive mine across the country right now but it needs facsia paint, panel alignment, new seats and carpets badly. I've found it hard to compare my car with any others since it's so rare for one to be mechanically solid and clean underneath but lacking cosmetically.

+1 on this. A DD runs well/reliably regardless of cosmetics.

Hagerty says a DD with cosmetic issues is a #4 car in their collector classification. At the moment they value such a DeLorean at just under $25K.

From their general collector car valuation classification webpage:

#4 vehicles are daily drivers with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. "Fair" is the one word that describes a #4 vehicle.

This doesn't mean that a better-looking DeLorean worth over $30K can't also be used as a DD, as some of us may do.

[Ron]

I was thinking DD usually means runs well/reliable too. And that "average" would allow for most of the differences/balance things out.

Looks like I need to reword it and add higher values anyway -- Suggestions?

[Spittybug]

Asking a bunch of owners how much their cars are worth to sell onto someone else? Marketing 101 tells us that the answers WILL BE SKEWED upwards..... Human nature.
Post this same poll on any other board in the universe and the responses will be lower.

Again, I'm not knocking the value of the Deloreans. I'm pointing out the human trait of overvaluing what one already owns....... The market sets the price in the end.

[Ron]

Asking a bunch of owners how much their cars are worth to sell onto someone else? Marketing 101 tells us that the answers WILL BE SKEWED upwards..... Human nature.
Post this same poll on any other board in the universe and the responses will be lower.

Again, I'm not knocking the value of the Deloreans. I'm pointing out the human trait of overvaluing what one already owns....... The market sets the price in the end.
Hehe, I didn't ask, "How much would you sell YOUR daily driver for?" I am wanting to know what the members of our DeLorean community thinks a DD would cost. Not what they are "worth". Not what THEY would give. Just a reasonable estimate derived from their observations of the current market, fair market values used by insurance companies, tax office, etc.
I'm sure the result will be skewed because cost doesn't equal worth, beauty is in the eye of the beholder, and some will skew the pool for their own amusement. But we all know that...

Seriously- How about, "What price should the Sticky 'Please read before posting I want a cheap DeLorean or Project Car Wanted threads (http://dmctalk.org/showthread.php?371-Please-read-before-posting-%93I-want-a-cheap-DeLorean%94-or-%93Project-Car-Wanted%94-threads)' say for a DD"?

[Parzival]

I was talking to a few others in the Delorean community and after looking at a few recent sale prices we seemed to agree that if you are paying much more then something in the mid to low 40s it better be for a reason. Something like, Very low miles, and or High level of originality (High level Concourse Originality) not something that lends it self to daily driver reliability. (original tires anyone?)
Keeping that in mind I think high 30s or low 40s is the ticket for DD cars. You can easily by a car for 35 and still need to put 10k into to get it to be a reliable car. And complete wrecks seem to be going for 20k now.
Do I think its a bubble? I don't think it is, there is a limited number of these. Its not like the housing market where easy to get loans will inflate the market, and then people who shouldn't have gotten loans default and the market gets flooded causing the bottom to drop out. There is just simply no way to flood the market with Deloreans, the only way I could see anything similar is if a ton of people jumped in, and then all at once realized they were in over head on repairs and up keep, and all toghether decided to sell, and with only 6000 cars out there I don't see it happening, and even if it did, with the low number of cars it would be a short lived dip, and a few folks might get lucky then back to business as usual.

[Rich_NYS]

I was talking to a few others in the Delorean community and after looking at a few recent sale prices we seemed to agree that if you are paying much more then something in the mid to low 40s it better be for a reason. Something like, Very low miles, and or High level of originality (High level Concourse Originality) not something that lends it self to daily driver reliability. (original tires anyone?)
Keeping that in mind I think high 30s or low 40s is the ticket for DD cars. You can easily by a car for 35 and still need to put 10k into to get it to be a reliable car. And complete wrecks seem to be going for 20k now.
Do I think its a bubble? I don't think it is, there is a limited number of these. Its not like the housing market where easy to get loans will inflate the market, and then people who shouldn't have gotten loans default and the market gets flooded causing the bottom to drop out. There is just simply no way to flood the market with Deloreans, the only way I could see anything similar is if a ton of people jumped in, and then all at once realized they were in over head on repairs and up keep, and all toghether decided to sell, and with only 6000 cars out there I don't see it happening, and even if it did, with the low number of cars it would be a short lived dip, and a few folks might get lucky then back to business as usual.

+1

[Hill Valley PD]

Prices have indeed gone up the last few years, but I still think it is possible to get a well running, driver quality car with some cosmetic defects for under 35K though that ship might be sailing. 40K give or take seems to be the sweet spot between something you can show with pride, yet not be afraid to drive. A super low mileage, $60,0000 concours car with original tires, rubber fuel lines, plastic overflow bottle, etc. is cool, but you really can't use it as intended. Owners will always tend to overvalue what they have because they know better than potential owners what it takes to keep a DeLorean in well running, reliable condition. Time and money.

This poll also is about 50/50 right now with half believing the car you described in your original post can be bought for around 25-35K, while the other half thinks 35K or more is what it takes now. The former pricing is the exception now when it used to be the rule.

[andyo]

Where are the data on recent sales coming from? Just wondering, not trying to sound like a punk, i just don’t know where to look besides eBay for actual sales prices. I know eBay isn’t exactly the end all be all, but i fell its likely a good ball park for what a reasonable/average person in the market for a Delorean would pay for one. Looking at completed listings, there are many around the $35k, some higher and some lower. So i think its pretty reasonable to expect to pay $30 to $40k for a good to excellent example. Outstanding cars being more than $40k. Personally, i would expect a near perfect car if I’m paying over $40k.

[Ron]

Lots of great input from everyone! Thanks!!!

Current results:
60861

From the input and results, it looks like I should stress the word "average" and make the choices range from $30K to $45K then reset the poll.

What do you guys think?

[lazabby]

Wasn't someone keeping track of sales? It would be nice to see a list of sales for the past year or so. Actual sales prices, not asking prices.

[ssdelorean]

. . . and with only 6000 cars out there I don't see it happening, . . .

"6,000" cars left out of just under 9,000 is another number that needs to be updated. I have been hearing the 6,000 number since 1996. But how do you update that number? You probably don't and just make an educated guess based on the couple VIN lists out there just as the original 6,000 number was based (guessed) upon.



. . . something you can show with pride, yet not be afraid to drive. A super low mileage, $60,0000 concours car with original tires, rubber fuel lines, plastic overflow bottle, etc. is cool, but you really can't use it as intended. . . .

Other than the low miles and original tires one can use the car as intended with original rubber fuel lines, plastic overflow bottle and gasp - the dreaded k-jet system! My DD is proof it can be done. Now angle drives, radiators and water pumps are another story. :)

[Ron]

Wasn't someone keeping track of sales? It would be nice to see a list of sales for the past year or so. Actual sales prices, not asking prices.
Yeah, I forgot who it was. Someone posted asking recently, but nobody chimed in...

=====

+1 on the 6000 left... That would be hard to nail down with barn finds offsetting the totaled ones etc.

[andyo]

Is there a way to tally the voter's owner status? Like Currently own, looking to buy, recently sold, recently bought, etc. it would be interesting to see the numbers there as well.

[Ron]

You would have to start a new thread & poll and cram it all into 10 choices max...probably not enough w/o narrowing down the price first.

[POLL RESET]

[opethmike]

My car probably was worth 40ish-k based on today's market, but then I ruined it by LS swapping, and now it is worth $5.

[Hill Valley PD]

Well, seems like consensus so far is low to mid 30s for an average driver. A quick glance at eBay sales seems to confirm those numbers provided the cars actually sold.

[dodint]

When I was searching for a DMC in late 2017 I wanted a very well sorted daily driver, and I was looking at $32k as a target. I ended up finding a car that looked very clean and also happened to be a Stage II so I was happy to pay $39.5k as I felt the Stage II and better than average cosmetics were worth the premium. I ended up spending $8k to fix things in the first year anyway (clutch, AC system, etc.).

[Mark D]

This thread makes me so happy that I purchased my car in 2008. These days I'd be hard pressed to justify spending 35K+ on a vehicle that is only driven for pleasure.

[dodint]

It helps that they don't depreciate. I feel like I can put it up for sale today and recoup my purchase price pretty easily. I don't view it like a regular car purchase; I feel like I'm borrowing it more than anything since I expect to get my buy-in back someday.

[Spittybug]

When I was searching for a DMC in late 2017 I wanted a very well sorted daily driver, and I was looking at $32k as a target. I ended up finding a car that looked very clean and also happened to be a Stage II so I was happy to pay $39.5k as I felt the Stage II and better than average cosmetics were worth the premium. I ended up spending $8k to fix things in the first year anyway (clutch, AC system, etc.).

My point exactly. And as the part prices go up and the labor for working on them goes up.......

[DMCMW Dave]

It helps that they don't depreciate. I feel like I can put it up for sale today and recoup my purchase price pretty easily. I don't view it like a regular car purchase; I feel like I'm borrowing it more than anything since I expect to get my buy-in back someday.

That's actually an interesting way to look at it. The depreciation on buying a new car, over the first 5 years or so, is a LOT more than maintenance on a sorted DeLorean, even if you drive it all the time. The only depreciation you'd see on a DeLorean is un-repaired wear and tear (i.e. you let the car go), or if you add a ton of miles to an original low mile (sub 10K or so) car where the low miles is part of the perceived value.

[Victor]

Absolutely yes. That is why a Delorean can be a good and solid investment. For me, as an average Joe, it is also very tempting to sell at this moment in time. I don't have much money to spare and I have this car that I don't use very often that sit there and worth more and more...every year. I do take care of it pretty much and it is in very well mechanical condition. And specially that it was purchase far lower than today's market, and that it is a canadian spec car, in Canada... It can be sold at a premium I suppose, if someone from Canada wants one.

At the same time, I love the car and would probably miss it if I sold it...

[Timeless]

Interesting to see how or if values are affected if the "new" cars are ever released.

[ttwo]

Interesting to see how or if values are affected if the "new" cars are ever released.

my understanding is that they will sell for at or well above $100k so having a vintage version is not going to hurt our value. Plus if it becomes more popular then the demand will only go up! Should be a win win