Loading ...I used $100/mo for and average cost. Near me today $100/mo is outdoor storage for cars. A 1 car garage is $500/mo. I’ve seen people asking $1,000/mo for two car garages.
For one thing there is property tax on the garage. Possibly a lot more than $1200/yr. after you build one in the back yard.
Plus it can be rented out or used as a work shop to generate income. Some car people rent those 1 car commercial storage units that are not cheap. Around here. Even the futures market has storage costs involved. Nothing is free.
I’m just fussy about true costs and values and when calculating storage values, these classic cars in perfect new condition are cheap, way way underpriced compared to a new car that will drop in value. Plus cheap to fix and maintain. Ten dollar inspections no emissions check. Plus classic care insurance is like $250/yr.
Back around 1967 a friend was shopping for a Model A Ford Roadster every weekend various states near by to restore. I convinced him to buy a fully restored one instead. Told him make believe you are buying a new car with a three year loan. Enjoy it every weekend instead of working on one.
He found one a gem perfect it cost $4500 same as a new Corvette Stingray. Years later he sold it for $12,000. That new 1969 Corvair for $27k might be a better choice than a brand new cheap Hyundai.