I know a lot of car YouTubers buy them as a business expense, make money off the ad revenue, and write off the depreciation losses.
That's interesting... You can make a business out of flipping cars and make money from YouTube videos at the same time.
Nice looking Caddy! Hard to tell it's a 10 footer from the pics, but that's the nature of a 10 footer
I've studied economics for many years and one of the things about economics is that we keep raising the bar and this is one of the biggest problems facing people. I can illustrate by example:
A long time ago, I was going to build my own house. The general plan was to buy a pickup, a trailer, some land and instead of paying rent, you use that rent money to build the house over time. I went to the junk yard to buy a pickup and paid $300. I had the skills to rebuild the engine, body and paint, etc... I went back to the junk yard with a list of parts to replace/upgrade when they had the 1/2 off sale.
I ended up with a paint job that some thought was lacquer because of the mirror finish. The engine was new and ran like a top. Everything worked like it was new. I was into it about $1,200 or so for all the parts and paint.
If I had taken it to a shop and said "here, fix it up"... it would have been a complete loss. It would have cost maybe $10K or more and I sold it for $5K.
This is the way it works: When you hire someone to paint your car, fix a leaky pipe in the kitchen, re-roof the house, etc... You're paying for that person's retirement, taxes, mortgage, fuel, etc... The more people in the economic loop, the more it's going to cost you.
You buy a meal at a restaurant, you pay for the building, suppliers, health care, taxes, etc...
Cook the meal yourself, you avoid all those extra costs.
On the other side is specialization of labor. The roofer has years of experience, tools, etc... Maybe he gets a better price on the materials, etc... The odds of a mistake are much less.
When I re-roofed my house, it was dirt cheap. Owens was having a rebait, buy $X of materials and get a rebate. The more you buy, the bigger the rebate... I over bought to get the largest rebate and returned the unused and used a coupon when I bought it.
The rebate more than covered the tools needed and the roof is working awesome.
I've poured my own foundation, did 100% of the plumbing, wiring, driveway, roof, etc... I can build a house for about $20~30K of materials and nearly no help from anyone else.
From cars, trucks, bikes, electronics, houses, etc... you can save a TON by building/fixing yourself.