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How much "invested" vs actually would sell for?

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GeorgeOhr Nonya Business
Yes, confused, USA   USA
I almost hate to ask this but how far are you guys upside down in your car? I've got maybe $5-6K and could get maybe 3,500-4000 and I need to go through everything again soon. (Doing all brake hydraulics now then an engine, trans, shock and suspension rebuild)

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wrenchingaround Avatar
wrenchingaround Silver Member Louis Zammit
Toronto, ON, Canada   CAN
I don't think about it at all, I put into it what I need, it makes me happy, it's my hobby and after almost 30 yrs of ownership I still love driving it. The re-sale value is of no interest to me, if something were to happen to it the appraised value is $11,000 so that's all that matters.

1974MGMidget Avatar
1974MGMidget Silver Member Jack Orkin
Grayson, GA, USA   USA
X2! If we're honest, we've all got more in our cars than they could ever sell for. Heck, if you get a good paint job you're upside down! Don't add up your receipts, just have fun with the car!!

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btinsley Avatar
btinsley Bishop Tinsley
Atl, GA, USA   USA
1976 MG Midget 1500 "Dino"
X3!!...Yes Louis and Jack, Ive had mine 35 years and i do have every receipt on it since the day I bought it. A few years ago I added them up and you wouldn't believe the figure if I told you. Paint was 6500 by itself. I couldn't care less, as it's what I wanted and I was fully aware the resale value isn't near what I spent. Clearly, I have no intentions of selling it anytime soon. It's a member of the family. LOL as said earlier, it's a hobby. I'm not in this for an investment.



bishop



you can't trump the amusement of reality

Perdido Avatar
Perdido Gold Member Rut Rutledge
Tuscaloosa, AL, USA   USA
I started keeping up with the spending on my Bugeye resto and worried about it at first, but then I realized how much I enjoyed the process...from then on it was no different than hunting, fishing, or any other hobby. In fact it’s turned into my favorite hobby which has created more upside down LBC ventures. As it stands currently I have a driving MGB and TR4a and an almost driving Bugeye, 3 more TR4as, a TR4, and a TR6 awaiting restoration and countless undiscovered candidates with my name on them.
Rut



1960 Bugeye undergoing restoration, 1275
1970 MGB, Pale Primrose
1967 Triumph TR4a
1966 Triumph TR4a
When I went to school, they asked me what I wanted to be when I grew up. I wrote down 'happy'. They told me I didn't understand the assignment, and I told them they didn't understand life. John Lennon

GeorgeOhr Nonya Business
Yes, confused, USA   USA
I know it's not an investment thus the quotation marks. I was just wondering how upside down everyone else was compared to me.

You know, "at least I'm not as bad off as ol' boy..." grinning smiley

I do like that car but when I start doing the math of getting it back to where it needs to be vs that money plus what I could sell it for would put me in something "better". That's the problem I'm up against right now.

Perdido Avatar
Perdido Gold Member Rut Rutledge
Tuscaloosa, AL, USA   USA
In reply to # 3680895 by GeorgeOhr I know it's not an investment thus the quotation marks. I was just wondering how upside down everyone else was compared to me.

You know, "at least I'm not as bad off as ol' boy..." grinning smiley

I do like that car but when I start doing the math of getting it back to where it needs to be vs that money plus what I could sell it for would put me in something "better". That's the problem I'm up against right now.

Hey, it’s just mental gymnastics! My number one car buddy in town just bought a pristine 2005 C4 911 and my wife wants me to follow suit since she loves that car. I know it doesn’t seem like it, but I’m the ‘responsible’ one in this marriage...she just wants something with a hard top and AC and it’s a rare occasion when she will ride with me in any of the LBCs.
Rut



1960 Bugeye undergoing restoration, 1275
1970 MGB, Pale Primrose
1967 Triumph TR4a
1966 Triumph TR4a
When I went to school, they asked me what I wanted to be when I grew up. I wrote down 'happy'. They told me I didn't understand the assignment, and I told them they didn't understand life. John Lennon

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76lucas Avatar
76lucas Gold Member Josh L
Floyd, VA, USA   USA
1978 MG Midget 1500
1979 MG Midget 1500 "Parts Car"
I went thru three other cars before I got mine. One I made a large profit on but took forever to get gone. Nobody knew what a type3 Vw fastback even was. The second I drove for 5 years I still say it was the prettiest piece of junk I have ever owned. The last one I lost my butt on. I got mine thinking for the price I could fix one for me slap a quick job on the other and come out even or better. Before I realized it I had quit trying to split them. Now I see two cars that a dozen people have brought and sold without doing anything. So I decided I would and the hell with the cost. I have enjoyed every dollar wasted. Especially the first time I hit the road. No matter the cost it was money well spent. And yes I am stuck in them both now. I'd have to sell both just to pay for one.



If you never try to do it You will never be able to do it

oleanderjoe Avatar
oleanderjoe Gold Member Joseph Baba
Fresno, CA, USA   USA
Been in this Repair / Restoration "BUSINESS" as my main source of income since 1985 when I opened my first shop. 'YOU AINT NEVER GOING TO GET RICH"
Trying to build a car for "Resale", (Read between the lines) >>>>> Y W L Y A . I have built Two complete cars for "Resale" How did it work out. ??????? '
" READ LINE ABOVE AGAIN "
And taking all into consideration. The ONLY work I send out is "Engine Machine Worn Only" Sewing Seat Upholstery. I personally do EVERYTHING myself., Body work, paint, electrical, upholstery from scratch (No Kits) engine, suspension, carbs, etc, etc, etc, SOOOOO, if you have to farm out work, and are trying to make a profit. " READ LINE TWO ABOVE AGAIN" For some reason, I feel like having some CHEESE. ?????


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Midgies Dad Avatar
Midgies Dad Ben M
York, ME, USA   USA
I've had Midgie since 1994. She's a driver that runs well and has a nice paint job but a worn out interior. She'd probably bring $4k if I sold her. I bought her for $250 and have spent over $12k (the paint job alone was $5k) but that averages out to less than $500 a year, for the pleasure of having a sports car to take off in whenever I want to. I haven't invested, I've just made a series of small car payments.

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Red midget Avatar
Red midget Robert G
Honesdale, PA, USA   USA
I'm the original owner of my '70. Last year someone cut me off and I wrecked. I thought they would total the car. I was ready to buy it back regardless of the cost. They didn't total it, and now it's getting a full paint job and front end rebuild. I look at it like a family member needing medical attention, you don't just discard them, you keep them around. I guess I'll be discarded before the midget.

Havenor Avatar
Havenor Richard Costa
Fairhaven, MA, USA   USA
Wow! I'm right side up or at least square, got a really good deal. I don't believe in going upside down on any car if I can avoid it.

66jalopy Avatar
66jalopy Silver Member Phillip Jolliffe
Lake City, FL, USA   USA
I have about $6,000.00 in mine, have used it for 5 years, it should be worth $6,000.00 I paid almost $30,000.00 for my SUV, used it 5 years, now it's worth $9,000.00. Basically free driving on the antique.

westfield7 Silver Member Michael Wooten
In the path of Totality, SC, USA   USA
1983 Westfield Seven "Green Car"
Is this like Wheeler Dealers where we don't count the cost of our own labor hours (and the donated labor of friends)?

66jalopy Avatar
66jalopy Silver Member Phillip Jolliffe
Lake City, FL, USA   USA
Yep, More bang for your buck than Disneyland

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