Owning a classic car: Is it worth it?

[66FAIRLANE]

Originally Posted by Top_Ghia

They can not drive them without being asked if they want to sell them.

Nothing wrong with that. It's when the first question is "what's it worth mate?" that ****s me. Right there thats the end of the conversation.

[Trevor 57]

Originally Posted by Top_Ghia

. They can not drive them without being asked if they want to sell them. Sure it’s great to know that they are valuable and sort after.

Never been asked to sell mine in the 11 years I have owned it - and it is a nice looking car

[98TLS]

Originally Posted by Trevor 57

Never been asked to sell mine in the 11 years I have owned it - and it is a nice looking car

image

image

image

Thats surprising to be fair,and yep it is a very very nice looking car.
Mate own this old Capri which has produced a few good offers over the years but all turned down he simply wants to pass it on to his young fella along with a few others,kinda cool that classic stuff gets passed on to family i reckon.

[Trevor 57]

Originally Posted by 98TLS

Thats surprising to be fair,and yep it is a very very nice looking car.
Mate own this old Capri which has produced a few good offers over the years but all turned down he simply wants to pass it on to his young fella along with a few others,kinda cool that classic stuff gets passed on to family i reckon.

my first born son has dibs on the XP, his brother has a very nice XE in process - they are twins



It is getting the running gear from our XE racecar transplanted in it and getting some rust cut out - 1982 model, been with the same owner since early 1984, he sold it to my son, he was 90yo (my son put those wheels on it for a roadworthy, it had the original wheels)

[98TLS]

Originally Posted by Trevor 57

my first born son has dibs on the XP, his brother has a very nice XE in process - they are twins

image

It is getting the running gear from our XE racecar transplanted in it and getting some rust cut out - 1982 model, been with the same owner since early 1984, he sold it to my son, he was 90yo (my son put those wheels on it for a roadworthy, it had the original wheels)

Seems we are on the same page then,nice.

[ebv8]

classic cars are not worth it financially even if you sat on a Phase 3 XY GT-HO imagine the upkeep and insurance you paid to keep it in the shed, the repairs and imagine the feeling of driving it and having a close call after some numpty pulls out in front of you.
but that feeling waking up in the morrning knowing you own it.... priceless (i wouldn't actually know)

thats how i justify it to my dad who sold his Ph2 XW GT-HO a year after i was born in 1980, he will not let me sell my 1of1 BA GT after his regret.

if your a classic car guy/girl its worth it big time but if you have to ask if its worth it them its not for you.

[bb_zetec]

I've had my 66 mustang now since 2012.

Has it been worth it...well, My wife and I got married in it so it is now a family heirloom and we wont be selling it.

Its currently being restored again...so im spending a bit on the paint and body.

I have had it on club rego since our marriage in 2013 so it has kept the cost down, and being a weekender it is on shannons insurance which is not too expensive.

Finding good classic cars can be hard, my convertible luckily was a dry state car so no frame rail rust.

I had a worse experience with my '78 Moke that i have, that was pretty badly rusted...bought cheap but has cost me a fair bit now. I've scrapped the entire body and got a new shell as contiuning with the old shell is not cost effective.

The plus with the old classics is that they are simple, minimal electrics and are enjoyable to drive...well something different.

Our Modern vehicles unfortunatly will start to deteriorate, even in storage. Eletronic capacitors will start leaking, solder joints will fail, sensors will stop working and that will be it.

A modern car is designed with planned obsolescence.

The only thing to stop a classic is probably when Petrol no longer exists...which might be sooner than we think?

[jaydee]

Originally Posted by Trevor 57

Never been asked to sell mine in the 11 years I have owned it - and it is a nice looking car

You probably haven't been asked because clearly it would be a stupid question
Obviously your pride and joy, rightly so.

[thefargo]

I welcome the attention the coupe gets; I allow others to sit in it and have their photo taken, I'll answer questions. Yes , I am asked what is it worth, and yes I am asked if I will sell it. usually I just laugh and say I'll add you to the list.

Parked alongside a new Bentley at a winery recently, and as I was walking back to it, the Bentley owner commented on how nice it was, my point being a lot of people appreciate a classic car.

I always get a wave or two when driving, there is always comments, if /when I stop.

There is nothing wrong with people appreciating an older car.

I got a lot of positives recently at the servo, when I filled up, as it was raining, and other people were saying how good it is that I drive it! (in the wet).

Yep, it's a car, that is why they made it.

[ESPJG32]

Hi bb_zetec
when it comes to a Moke the really late model ones are the best 1980-81 they were Galvanised bodies the earlier ones can be a raffle in the rust dept...I hope
you didnt finish up with one of the chinese replica bodies of recent years...they are nothing like a real moke body and a moke built on one of those will have no value in the future

[rare ss]

I've always wanted an XY GT (well a phase 3 but who wouldn't) or a XA GT Sedan, but alas missed the boat as my old man wouldn't let me get a V8 for my first car

round the same time my cousin got a genuine tru blu XY GT for mid 20's, we kinda thought it was well overpriced at the time, and the colour wasn't my pick, but he's still got it in the shed now and it's worth a tad more these days!

I managed to get my hands on a few VK Brock commodores over the years, still have one and don't ever plan on selling it unless it makes way for a GT

I've not a fan of these car becoming collector pieces for the wealthy, they all have their own soul and are built to be driven and enjoyed not just looked at

[Polyal]

Its all just money though right?

Is it worth it, depends on perspective. I am a bit of a mix, I do it as an enthusiast but I am not about to over invest or wizz money against the wall for the sake of a romantic dream.

I do enjoy just cruising around, the random conversations etc.

I dont enjoy the internal battle of full resto vs maintain...but hey atleast I have the option.

I actually dont mind the rich etc buying them up, for the most part it means they are preserved but ideally its nice seeing them at car shows etc.

The next 5-10 years are crunch time though, its 50/50 IMO...I think we are getting close to peak but the oncoming generations dont have the same love affair.

[bb_zetec]

Originally Posted by ESPJG32

Hi bb_zetec
when it comes to a Moke the really late model ones are the best 1980-81 they were Galvanised bodies the earlier ones can be a raffle in the rust dept...I hope
you didnt finish up with one of the chinese replica bodies of recent years...they are nothing like a real moke body and a moke built on one of those will have no value in the future

Hey mate....yes i am aware of that. No i got another 1980 Galvanised Body to replace mine. i am going to move all my running gear, subframes across to it once the replacement is painted.

Unfortunately i spent money doing repairs on the old body and then more and more got uncovered...you live and learn i guess. The old body has gone to be crushed and turned into the new MGs you see running about.

[CoupeKing]

Totally worth it. I purchased my XB Coupe right out of high school, and some of my mates from primary/high school who were with me when I got it still cruise to this day together.

Not much better than on a nice spring day tearing up the Hume, all windows down, right hand on wheel left on toploader, and about to raid a country bakery with this pumping out of the speakers.....

[Trevor 57]

jeez, makes cruising in my under-powered 6 cylinder XP Coupe with the factory push button AM radio seem pretty mild

[DJR-351]

Originally Posted by Trevor 57

jeez, makes cruising in my under-powered 6 cylinder XP Coupe with the factory push button AM radio seem pretty mild

Yeah your probably right, I reckon you should sell it while you can still get a few bucks for it....

I might know someone if you get stuck trying to offload it

[CoupeKing]

Originally Posted by Trevor 57

jeez, makes cruising in my under-powered 6 cylinder XP Coupe with the factory push button AM radio seem pretty mild

That's alright, you'll get to your destination more relaxed, and I'm sure if you pick the right station the top ten hits will be played the year your XP was ordered. Plus you save $$ on petrol, probably enough to pay for your lunch and at least half a slab.

But unless you leave early we're getting the first round of pies - slightly overcooked with flakey pastry on top.

Cav just Googled price of Bugatti Veyron.

[Trevor 57]

I paid $18k for mine in 2010. One in a similar condition to mine sold recently for $71k (mine wasttle better I thought) Most are going for around $45k - not a bad increase in 11 years

[Paull]

Originally Posted by Top_Ghia

I know 2 guys that are long time classic car owners who bought their Toranas many years ago for just a few thousand dollars. But times have changed and these tidy examples have grown in value greatly. They can not drive them without being asked if they want to sell them. Sure it’s great to know that they are valuable and sort after.
But it has ruined the ownership experience for them. They are just waiting for the day they are followed home and they get knocked off. They are now selling them as the risk has become too great so it’s time to cash them in and move on in life.
They’ve had their fun but now stress about the cars because of their value. When they originally bought the cars they were cheap project cars to build and thrash.
So do you feel that your $5,000 skid car that is now worth nearly six figures has lost its shine?

Great question and thanks for posting. Definitely one of the best questions I've seen on the forums in while. So much so that I've read all comments and can certainly relate to them all.

Having been a buyer of many cars through the '80's, 90's, Naughties but far less so in the Teens (almost up to triple figures now), what I miss is the ability to simply go out and find a cheap old Aussie car, irrespective of make/type. Having been a big believer of "Better to look at it, rather than to look for it", I've always had lots of spares/spare cars. These days, you just can't do that anymore. Also, wanting to buy cars that I had back in the 80's & 90's (Chrysler CM Regal & WB Caprice), these things are almost non-existent but also far too expensive for me to be able to buy. That is, as much as I want to get one these, I know that this will never happen. Yes, I'm a mad keen car buyer/seller/collector.

When it comes to the concern of driving/theft/damage, I've never been a huge fan of the attention that these things get. This is one of the reasons that I sold my XC Cobra and no, I don't miss it. What I much prefer is driving my XD (ex WAPOL pursuit factory 351 4 speed). The beauty of this is that no one ever looks at it as it just blends in. And yes, even in my P6 LTD, I've had people follow me until I stop and it's the usual long story/wanting to buy but I'm mostly cool with that as I'm pretty sure, no one would ever pinch one of these things.

Is it still worth it - that's a big fat yes from me. Although I don't get to use my cars much these days, it's great knowing that they're still there and can either be used/driven or there as a future resto project.

Lastly, when it comes to car clubs, think about joining one that is not GT/Torana/Monaro/Charger etc. Nothing against these clubs it's just that having been in the Leyland P76 Club (yes, I know, heard all the jokes, many times over), it is full of genuine car people that are great to catch up with, appreciate anything on 4 wheels and are not dismissive in any way, of any and every type/brand of car.

[Top_Ghia]

Some really great replies everyone. This thread was in no way meant to bash classic cars, their owners or the ownership experience.
I did want to hear people’s thoughts on what the increasing value of them means to your ownership experience.
I’m certainly glad these cars are still cherished and cared for, particularly now our automotive industry is history.
Hang on to them. Look after them. Share them when you can.

[Paull]

Originally Posted by Top_Ghia

I did want to hear people’s thoughts on what the increasing value of them means to your ownership experience.

Apologies, missed that point.

Best way of answering that is that the last time I had someone wanting to buy my P6 LTD, the question was raised as to value: my answer was quite simple - it has no value. I do not see it as an item worth X dollars, it is simply a car that I will have until I'm gone. And that is pretty much the same for the rest of them: I do not see them as appreciating/depreciating assets: they're my cars and I'm keeping them.

[Trevor 57]

Originally Posted by Paull

Apologies, missed that point.

Best way of answering that is that the last time I had someone wanting to buy my P6 LTD, the question was raised as to value: my answer was quite simple - it has no value. I do not see it as an item worth X dollars, it is simply a car that I will have until I'm gone. And that is pretty much the same for the rest of them: I do not see them as appreciating/depreciating assets: they're my cars and I'm keeping them.

I never bought my XP as an investment, I bought it to cruise around it. My son will get it when I am ready to give it up, it won't be sold

As for car clubs, our car club prides itself on being a 'social club', rather than a 'car club', in fact we have a few member with don't own a 'classic car'

[HIPO]

Had lots of good encounters, with my 63 sport coupe Fairlane breaking the ice for conversation. A few ****ers too.
Best one when parked outside the Birdwood Motor Museum... 10yr old kid going off over it & even knew what is was, more or less. Best part was his beaming little head in the drivers seat while his Granny got pics. Let him run it through the gears. Was one of those smart beyond yrs kids.
Had 2 occasions when ph. numbers where given to me , asking to call them if i was gonna sell.

[roddy1960]

I bet in 1971 the buyers of a Phase 3 would never have dreamed of the value these cars get fifty years on. If they did many of them might not have been thrashed or crashed . Even a decently done replica earns some substantial money these days I believe..

My God ....Half a century old now is a Phase 3 GTHO . A tidy XK is exactly as ancient as me and probably looks and goes better.

[anobserver]

Paul said:
"... what I miss is the ability to simply go out and find a cheap old Aussie car, irrespective of make/type...."

That is a neat summary. The rise and rise of values especially in recent times has pushed many, if not most, Australian made cars away from being reasonable value. This has financialised the used and classic car market.

Now we have the speculators that dont value or respect the cars, only to profit from flipping them.

Top ghia put it well:
"I’m certainly glad these cars are still cherished and cared for, particularly now our automotive industry is history.
Hang on to them. Look after them. Share them when you can."


I dont begrudge people selling their cars and making money... but not when making money as a priority supplants the joy of ownership... for either current or aspiring owners.

[Express]

I don't mind people stopping to chat about the XY, I often get the same reaction when I walk the Golden Retriever.

I always get a kick out of the people who pull out their phones to take a snap when I pull up at the lights.

I don't take her out as much as I should but I still enjoy having her around.

That fact I enjoy cars in general makes it worth it to me, I don't have any other vices so it evens out.




.

[Paull]

Originally Posted by Fiji

When the production of new cars gets back on track, goodbye to used car prices.

I have been a firm believer that the rise and rise in price of old Aussie cars will stop and then drop. I have been saying this for years and years. And, as each year passes, I have been shown to be consistently WRONG!! I don't get it, don't know why and in that, I would not be agreeing with your comment - re old Aussie cars that is. In respect to your everyday 5 to 10 year old car, yes, these will drop in value but that is not what this thread is about.

[galaxy xr8]

Originally Posted by Fiji

People should sell now and run with artificially high prices. The bubble is about to pop..

Reason for jammed up used car prices is the availability of new cars. When covid hit, most new car manufacturers slowed up production, required less from their suppliers which also slowed their production. For chip manufacturers, they diverted their production to non automotive customers. Then there was an issue with a major supplier factory burnt down..

Automotive manufacturers completely misread demand for cars and are trying to ramp up production which is delayed. When they get production back, goodbye to used car prices

So people cannot get their new car so they are holding their used car, less supply and prices go up..

Also covid has people avoiding public transport so they are either not selling used cars, less supply or paying overs for the limited supply..

When the production of new cars gets back on track, goodbye to used car prices.

Oh yes people are going out of their way to buy classic vehicles like GT's and what not, which this thread is about, because they can't order their brand new Toyota/Nissan or what ever White good vehicle that they are waiting patiently for !!!!.

Classic cars will remain steady in pricing for ever now, just as house prices will remain steady, you could buy a GT Falcon back in the day for 10-20k just as you could buy a 4 bdr family house for 150k, you will never see those prices again.

of course there are the very over inflated prices you see on some these days, but the steady ones will remain and keep the market where it sits.

[PG2]

OK Fiji, you have had your go at derailing this thread.

Just to clear it up, the heading '... Is it worth it?' is referring to the worry of owning a classic car not the monetary worth of owning a classic car. I thought it was a dam good question for discussion.

Any further posts trying to derail this thread (ie trolling) will be deleted and warnings issued.

[Bossxr8]

Semi-conductor shortages of new cars has absolutely zero to do with classic car values. Might influence second hand modern vehicles less than 10 years old, but not old classics. People are not cross shopping the 2.