And while we're at it I never buy a car with the intention of selling it. I buy what I have because I want it.
I may be close to upside down on my recent convertible purchase but guess what? I don't care. If I ever do have the car restored or modified the way I want it I will be 30000 thousand into a 10000 car.....I don't care, it'll be the way I want it
You gotta sell it sometime. Or die and leave it to someone.
Maybe I see this far differently than you guys. I lost damn near EVERTHING I OWNED in May 2003, due to a tornado that destroyed my shop and severely damaged my home, resulting in a total loss and demolition of both. I had severe damage to the ten vehicles (including two tractors) I had a the time. Only three ended up being repairable. My Coronet was at the vo-tech that day (thankfully!) as I was having a disc-brake conversion put on, and one of the kids bent a steel line to the point it kinked, so I left it there to pickup the next day. Had he not jacked that up, it would've been destroyed, as well.
Getting insurance to pay out on the vast majority of my losses was not a big issue, save for my '70 F250, which was valued at $7,500, but USAA was willing to pay out far less on a total - it was completely destroyed! Point is, if you have that car that is so valuable personally, you'll never, ever recover the amount you've got in it, or have it insured for. I don't care what car or truck it is (Hemicuda., SFGT, or a Trabant!), I'm never willing to spend "just for the love of the car!"...screw that! It has to make economic sense to buy an old car. In other words, I'm gonna do everything possible NOT to overspend on a car. It might be "the only one around", but if it makes no sense to acquire and restore it for a reasonable outlay of cash, then I'm moving on to something else. I have to be able to get something at least close to what I have in it to make it worthwhile, PLUS have the proper amount of insurance on it, in case of a total loss! An insurance company is not going to insure a $30K car for $50K. My F250 had TWO separate professional appraisals at $7,500 and $7,800, respectively. The insurance company was aware of BOTH appraisals before the storm, but ignored them at claims time. This SFGT restored is going to be that $30K car. You have $50K in it. Guess what? The car is destroyed, you get $30K for the wreck, and that is it. The memories or whatever are NOT worth the $20K you've lost. Maybe to you, they are. Cool. To me, they're not. Since May 2003, I've come to the realization that stuff is exactly that - stuff! Material items that supposedly fill a need for some people, boost the ego of others, and sit in a "collection" gathering dust. Stuff is stuff. Stuff is material. Stuff is NOT important in the grand scheme of things. He who dies with the most stuff, didn't win ****.
And this SFGT is overpriced stuff at $12,500.