Ok, sooooo I bought my 69 mustang coupe, grande deluxe interior, 351W, FMX, AC , PS, PB, rear window defog, Tilt away steering "which doesn't work". Kinda rushed in, done some research, and bought it.
I'm embarrased to say how much I paid for it and have sunk another 5G into an engine rebuild, wheels, tires and other stuff. The problem other than I have spent double what its worth, is that it still needs more!!
This thing $100's me to death! It's getting to a point that my stomach turns thinking about this car.......I mean, its a 69 coupe, but a they are a dime a dozen.
I see so many good deals....now that I bought mine. Good grief
Should I just quit pumpimg money into this car and drive it as is, or try and get out of it hoping to recoupe some of my money?
so your into it for more than it's worth, so what? do you like the car? if you do, who cares? unless you have something really special, your not going to get your money back anyway.
Well 2 ways to look at it, 1) Pump money into it and wait until the car market improves. Enjoy the car and have a little fun. 2) Sell the car and take a hit. look for car you want that is more valuable (good time to buy). If you are happy with with car, the value of the car cannot be measured. If you are unhappy with car, you should sel it and look for what you really want. Right now it seems cars are worth so much more in parts than they are worth whole.
You aren't in any different position than most of us. They don't call 'em "money pits" for nothin'. IMHO, it's the price you pay for "entertainment". It only becomes dangerous when you have to move INTO your car because you chose to buy a pair of NOS quarters instead of paying the rent.
Really good poker players win because they are especially skilled at knowing "when to fold'em". The losers lack that skill. Only you can make that decision. I think we all put more into our cars than we can ever get out of them. I know I have.
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SWMBO's '66 Coupe 289, 2-V, C-4(Pony Interior, Rally Pac, A/C & Tiffany Stripe) & An absolutely rust free '65 289-2V C-4 coupe project now UPGRADED to about 93.891% complete. Only a few more years.
I didnt buy my car to make money & I dont care "what its worth". I bought it to fix up & drive & have fun with it once it is done like I did with my last Mustang which was a 68 GT j-code Coupe which I kept for 12 years. I am pretty sure we are all into our cars more then they are worth, so what.
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1969 Coupe, (Future Toy & project)
Previous Mustangs,65 Fastback, 68 J code GT Coupe, 69 Coupe, & 70 Coupe.
Mike G.
MCA#-04549. MCA member for 35 years.
"The times I've been mistaken, its impossible to say". - The Moody Blues.
My 69 Coupe build album http://s1238.photobucket.com/albums/ff499/NJMike69/
Got news for you, every single one of us, unless we bought the car complete and needing nothing, is upside down. I bought mine in great shape when they were cheap and plentiful, and I'm way, way in the hole, too.
Forget the money part- is it what you want? Do you smile when you drive it? Do you look back over your shoulder after you park it? If not, ditch it now, because no amount of money will fix that. Having the nicest example of a car you don't like is no victory.
I feel your pain.....my car mentor told me - "if you start thinking of the word 'investment' Im gonna beat the crap out of you.... but if You think 'hobby' ...youll be able to live with yourself and avoid a beating..."
Got news for you, every single one of us, unless we bought the car complete and needing nothing, is upside down. I bought mine in great shape when they were cheap and plentiful, and I'm way, way in the hole, too.
Forget the money part- is it what you want? Do you smile when you drive it? Do you look back over your shoulder after you park it? If not, ditch it now, because no amount of money will fix that. Having the nicest example of a car you don't like is no victory.
Well.....I do grin alot when I'm in it and rev that engine. I have not been able to put many miles on it yet, but I look at it once more every time before I close my shop door. Does that count?
I feel your pain.....my car mentor told me - "if you start thinking of the word 'investment' Im gonna beat the crap out of you.... but if You think 'hobby' ...youll be able to live with yourself and avoid a beating..."
Oh I know its no investment, but it just kills me when I see cars that I could have had for less and in better shape I guess. My co worker picked up a 65 coupe....beautiful car, great paint, almost perfect interior, all original 289 engine, runs great.
Yea that is irritating seeing a nicer car go for cheap. Right place right time. I'd guess most of us on here have more in em than their "worth" but as said above who cares. I have a 68 coup. Not exactly highly collectible, but to me she's worth a million.
As a pharmacist let me tell you, you cannot put a price on happiness. You may have to pay a little more than someone else to get it. But it is worth every penny. This is from someone that just spent $4000 to buy a rust bucket money pit tonight lol.
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Knowing when to "fold em"
