Quote:
Originally Posted by Dlirium
By putting in an IMS, for 20% of the value of the car, you ensure you can keep it a $11k (or whatever the correct price is). That is what we mean by insurance...
We all sort of have a big revolver with one bullet that we are spinning...at some point it will go boom.
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Other parts can go boom too and there goes your engine and your investment in any IMS. A simple accident in a car this old will take it down too.
So by adding 20% to its cost basis, you add how much to the probability that it will still be around in a few years? Do you increase the probability more than by changing the water pump?
Even at 10%, if the IMSs fail at 2% a year, is that still a good investment?
My point is that when these were $25k cars, the investment made obvious sense. But now? Does it still?
Maybe emotionally or for peace of mind.
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