Classic car nuts

[Sjalabais]

I dream of spending money in a very irrational way. What do I long after? This:

...and this:

For practicallity, how do you beat this?:


The entire desire for classic cars is against the grain of using money smartly, unless you can fix everything yourself and have a lucky hand in picking future valuables. Who else can't resist the call of old iron? What do you lust after? Do you restrain yourself once you FIRE?

[DaveR]

The entire desire for classic cars is against the grain of using money smartly, unless you can fix everything yourself and have a lucky hand in picking future valuables. Who else can't resist the call of old iron? What do you lust after? Do you restrain yourself once you FIRE?

I have about 3 more cars than I need. Of course two of them are older than me.

It depends on how you look at it. A car (of any age) is not an investment. But, a '67 Volga is going to be fully depreciated, so you won't be losing value there. Old cars don't take a computer science degree to maintain, so doing everything yourself is actually pretty reasonable. And when you FIRE, you have the time to learn. Around here, I can put classic car plates on it (no annual tab fee) and easily suspend insurance coverage when it's garaged.

And honestly, the joy I get out of being able to grab a beer, head to the garage, pop the hood, and get my hands dirty is worth a lot. See, I'm smiling right now just thinking about it.

[enigmaT120]

In my case, a classic truck (work truck):

truckleft by Ed Miller, on Flickr

Compost3 by Ed Miller, on Flickr

I added Napco running gear some time back, so it's 4WD.  I'm giving it a frame off now.  Very slowly, I'm afraid.

[Trirod]

You're right - you do need to be able to do everything yourself to make it an affordable hobby. But the great thing about classic cars is they shouldn't depreciate much (or at all), which gets rid of one of the main components of car expenses. I have a 1989 Porsche 944S2 which probably isn't a classic yet but it does seem to be appreciating in value. Since I only drive it about 3000 miles a year it's not subject to much wear and tear (and I do all my own repairs anyway). Insurance and tags are about $200 a year total so it's really not a big expense for the amount of fun I get out of it.

I also have a rusty 1969 Volvo 1800S ready for restoration. If I do a decent job restoring it then I may even make a small profit on it!


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[BlueMR2]

I'd like an AMX or a Pantera...  Or both.  :-)  Maybe even an early Lotus Esprit...

All high maintenance, but that's part of the fun!  Some people chose to spend tons of money having kids, some choose cars!

[ozbeach]

The Jaguar XK-150 would be sorta achievable here in Australia (probably $100,000 and up)

If I was totally day-dreaming, why not a 300SL Gullwing Mercedes! (I'm guessing $300K and up)

Actually, I would be very tempted by an 80s era SL ($20-40K), but don't have the garage space, and registration and insurance on a "hobby" car here in Australia is well over $1,000 per year, so no...

[etotheix]

I am another classic truck nut.  The only downside is the two person cab, and it would really be nice to be able to take more than just one person on trips!

[Sjalabais]

No rumble seat option on this one?

[iris lily]

The Jaguar XK-150 would be sorta achievable here in Australia (probably $100,000 and up)

If I was totally day-dreaming, why not a 300SL Gullwing Mercedes! (I'm guessing $300K and up)

Actually, I would be very tempted by an 80s era SL ($20-40K), but don't have the garage space, and registration and insurance on a "hobby" car here in Australia is well over $1,000 per year, so no...

My husband has a 1979 Mercedes SL. He bought it for himself for his 50th birthday. There a a lot of them around and it wasn't very costly, I'm thinking around $12,000. But then it got more expensive because we had to build it a house to live in.  We didn't have a garage until it came home with us, then we had to build a garage.

[enigmaT120]

No rumble seat option on this one?

No, that's a truck, not a car!  I guess the friends could ride in the back.  I still see that done where I live. 

[AmandaS1989]

My Dad is a 1965 Ford Fairlane man through and through. He has two of them- one red, one black. The red one actually brought him home from the hospital as a baby as well as my little brother (he had it off the road while fixing it up when I was born). Hell my brother was almost born in it! I love that red one. Me and my brother grew up in it and it took me on all my college visits in '06. Its currently off the road while my Dad fixes it back up.

The black one he found while taking a wrong turn waaay out in Tyro. He bought it from the little old lady for $500 in the mid-90's. He is still driving it today and it's the car I got my driver's license in. The lady at the DMV was so stoked to get in the car with me. And all her male coworkers were so jealous!

Everyone thinks my Dad must be loaded to have two cars like that. But it's not expensive to keep a classic car if you work on them yourself. I spent many a time, in all sorts of weather. helping him work on that car. I have done everything from help change a thermostat, to working on brakes, to switching out an entire motor. Ah good times.