Owning a classic car: Is it worth it?

[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?

[chookaradley]

Values for good clean original cars are through the roof no doubt. The question for me is is it sustainable?, or does the covid tax mean the car you buy for 50k today is worth 30k when all this covid stuff is over??.

[jaydee]

Is it worth it?
Blood oath, love working on and driving my XC.
Having said that I was followed into my quiet little cul-d-sac yesterday.
I'm always watching my mirrors and he wasn't behind me when I first turned off the main road, but suddenly there he was behind me in my street.
I got his registration and recorded it just in case.
But you can get a lot of enjoyment out of your classic, speaking to and helping like minded people.
Swapping parts, receiving parts or giving away parts is a real buzz, knowing it's helping keeping a classic going.
Not to mention car shows and cruises.
Perth is pretty small too, so classic car thefts get a lot of attention and not very common.

[connors]

Probably the wrong place to talk about a Brock Commodore but I have had several over the years and when I have sold them done quite well and it allowed me to buy a follow up car. The downside is sourcing quality parts and constant worry about theft. The time buying old calssics is gone as prices are onwards and upwards.

I recently bought an AU XR8 that is quite tidy, and even though not much younger its nice to have some mod cons like decent headlights air bags etc and everything working like new. The biggest thing I like about he more modern classici is that the AU has cup holders.

The older classics are good if you can are willing to do the work, I think only you can work out if they are for you,

Regarding price falls, it will happen but they always seem to come up and in the eman time you can drive and enjoy them/

[jstanovic]

Good question. To me having a garage queen is not what it’s about, getting out and using it is where the enjoyment is. If that is not enjoyable anymore then prob time to sell, unless you have the room/money to keep it.

I have an old classic that isn’t so desirable compared to the Aussie cars so I only get the odd comment. Works for me as I take it out whenever I can, picking up kids, to the shops, quoting jobs etc and I’m not too worried if it’s going to get stolen haha!!

[slowsnake]

Of course its worth it, they are meant to be driven not admired!...you own and drive it and let others admire it, but on the road not the grass.
These are not Ferraris these are only pertinent to Aussies, if our cars had a world market that would be really cool, but drive what you got and enjoy it now, we might not be here tomorrow!

Cheers King Billy

[Rallye Sport]

For me they're worth every dollar, skinned knuckle and long wait for parts I've ever spent on them.

Common sense and etiquette needs to be applied though.

Driving them I quite often get people wanting to have a chat at the servo, so stop and have a chat most people are just reminiscing on the past.
If they make an offer politely decline and tell them why.
On the roads people will quite often see an old car, assume its slow and want to pass, let them do so.
I get tailgaters so I'll just pull up a side street do a U'ey and keep cruising.

Security wise they're always put back behind closed doors in a secure garage, disabled and parked in.
If you think someones following you, keep driving, pull into the nearest servo, shopping centre or public place.
Most importantly to me is one the old man taught me. Never upset the neigbours. They're valuable security. Keep the noise down, don't go rip roaring around the suburb and give them a wave as you go by.

Once all thats said you'll meet some great likeminded people and forget all of your worldly woes driving around in them.

[shedcoupe]

Sometimes yes, sometimes no.
A mate has a heap of classic cars that he pays to store because he doesn’t own property but lives in a rented shack.
All good maybe. If he’s happy.
But he’s not because he gets no respect from his (rich) girlfriend.

[Franco Cozzo]

Originally Posted by Rallye Sport

Driving them I quite often get people wanting to have a chat at the servo, so stop and have a chat most people are just reminiscing on the past.
If they make an offer politely decline and tell them why.

I had that with my old F100 - two of the randoms who started conversations with me out of the blue had them when they were new as a work car in the 1980s

[PG2]

Originally Posted by Rallye Sport

...

Driving them I quite often get people wanting to have a chat at the servo, so stop and have a chat most people are just reminiscing on the past.
If they make an offer politely decline and tell them why.
...

Once all thats said you'll meet some great likeminded people and forget all of your worldly woes driving around in them.

I love a chat.

The problem is that someone will come up to me to talk about my car and it is normally them that have to find a break in the conversation to say, "Anyway..."

[Top_Ghia]

One thing these guys did mention is that as these cars go up in value the type of owner changers. They used to meet up with other Torana owners and talk Toranas and other owners would really know their stuff.
But now wealthy collectors buy them so when they get together their knowledge of the cars is limited to their market value, not the technical details.

[Crazy Dazz]

It's an interesting conundrum.
Most of us that don't, would love to own one.
especially cos I love tinkering and doing my own work, and I long for the days when checking fuel supply involved looking at the glass fuel-pump, and checking for spark required asking your missus to hold the lead whilst you cranked.

But yes, if I owned a genuine HO, I would sell it, because I'd be scared ****less to drive something worth that amount of money.

But a more basic classic I don't see a problem with. Even if its worth $50k, so what, there are plenty of $50k+++ cars on the road. And I would rather have something that generates respect, rather than people thinking I'm a ****er because I drive a Lexus or a BMW

[Citroënbender]

It’s no longer worth it IMO. Your choices about what you do to - or with - it are public fodder, like a supermodel’s body. You are discussed, judged behind your back. Theft risk, time-wasting ear chewers dribbling half-baked nonsense. New Australians who think it fair cop to lose their kids or other half all over the car for a photo, no asking first. Hidden speed cameras and nannying road rules; can’t even have a properly good time driving it.

I get on well with most of my immediate neighbourhood, it buys me slack with my streetfront projects and a little extra security, but I’m honestly glad they’re not too precious.

[Trevor 57]

I am very conscious when out and about in mine. Due to the lack of technology these old cars are easy to pinch. I trust no-one. Mine is very secure at my house.

I rarely leave it alone in carparks.

[mondeomatureguy]

Hi guys,
In the 90s till 2006 i had a Valiant charger CL 265 Hemi engine 4 speed manual.
It was my daily driver in those days but i kept it in good condition. In 2005 i was on the way home from work and noticed two guys following me.
I took a few turns on the way home that i didn't really have too and sure enough they did the same thing.

In the end i went and parked across the road from the local Police station and they drove past and didn't stop. i drove straight home put the car in the garage and the alarm on.

In the end i was worried about just parking it at work. I sold it in 2006 and did think about buying another classic car didn't do it.

I did meet a lot of nice guy's at car show's etc and we all had a nice long talk about car's.

[slowsnake]

Originally Posted by shedcoupe

Sometimes yes, sometimes no.
A mate has a heap of classic cars that he pays to store because he doesn’t own property but lives in a rented shack.
All good maybe. If he’s happy.
But he’s not because he gets no respect from his (rich) girlfriend.

Sack her!.lol.


Cheers King Billy

[oldel]

I don't think it's worth owning a classic worth ~100k+ for most people - like the average person who just bought them cheap and don't have the income to support such a now expensive car.

You'd be paranoid, have huge insurance concerns, need very high security garaging, could only drive it to car shows.
If I still owned my RX3 I would have sold it already. I had a mate with an XU1 that got stolen.

So much babysitting, and for many people they don't have the security and probably think the ins. for something that used to be cheap is a waste.

There's some classics worth owning with less drama, but not the aussie 70s big names because it takes over your life, time and money.

E: That said I've mentioned before I'm glad to live in my area and do the school run down hepburn ave to greenwood. Every day I see some sort of classic car being driven, so it's probably not as bad as I fear and OP makes it out to be, at least not in this little area of Perth. I'm suprised how many pop up at 3pm on a week day getting a little run. I've speculated before that Padbury, Kingsley to Greenwood and surrounds with their bigger blocks must all have backyard garages packed with old classics. Blocks not big enough to subdivide like further south, but much larger than newer houses further north - and not everyone wants a pool.

[anto]

They’re definitely worth having but at what cost ? I park my coupe anywhere when I take it out, it’s insured. What’s the point of having one if your too scared to take it out. They’re fun to work on and mess around with too although it’s becoming more and more expensive when it comes to getting any work done and parts are going through the roof.

[Dezza]

When I drive my classic, I love the attention it receives. At servos, etc. I always have people approaching for a chat, asking questions about it, what year is it etc. The waves and thumbs up from other classic owners is great. It's a nice feeling

[nitro50th]

Originally Posted by oldel

I'm suprised how many pop up at 3pm on a week day getting a little run.

If I know I'm going to be busy on the weekend, I often take my car out for the school run. My young bloke likes getting picked up in it too!

Mine is certainly not worth as much as some, but in the last 4 or 5 years of current ownership (I owned it from 1990 to 1999 and sold it, then bought it back in 2017), I haven't gone more than 2 weeks without taking it out. I just enjoy driving it too much, and can't see the point of owning such a car that get's left in the garage for months on end.

Having said that, I do get ansy leaving it in carparks where I can't see it, but I don't see that being any reason to consider selling it just yet.

Going on country cruises with like minded others is what it's all about.

[Warrenk]

Currently with interest rates low, classic cars are increasing in price as people paying off houses are able to afford a few things that might have been beyond their financial reach if rates were higher. Once interest rates start increasing and this extra cash they have disappears and if rates go up to 5-7% these people will have to choose between their house or their toys. The house will probably always win and there could be a flood of these vehicles on the market. Price drops like a rock, similar to GFC.

[FairmontGS]

I don't start or drive mine at all. I have it parked up on stands in a secure garage under a cover. No-one other than my wife and I have seen it in over a decade. I just like thinking about how much it goes up in value

[Franco Cozzo]

Originally Posted by FairmontGS

I don't start or drive mine at all. I have it parked up on stands in a secure garage under a cover. No-one other than my wife and I have seen it in over a decade. I just like thinking about how much it goes up in value

You need to run an Instagram, your tag could be #CPAthings #CPAlyf

Then bring it to the attention of GT clubs

[slowsnake]

If I park my old AU2 in a shopping centre carport I look for 2 of the latest model cars and park between em!


Cheers King Billy

[Warrenk]

Originally Posted by FairmontGS

I don't start or drive mine at all. I have it parked up on stands in a secure garage under a cover. No-one other than my wife and I have seen it in over a decade. I just like thinking about how much it goes up in value

Will you ever sell it?

[Franco Cozzo]

Originally Posted by Warrenk

Will you ever sell it?

Depending on graphs, some three letter codes, house prices, rental returns, inventory costs, inflation rate, what OPEC is doing, US foreign policy, Sportsbet odds on Barnaby Joyce starting a third family, the price of bats in Wuhan wet markets and a little bit of looking at the sun for good measure and I reckon we'll come to a decision, which may or may not be selling the Falcon

[slowsnake]

Originally Posted by FairmontGS

I don't start or drive mine at all. I have it parked up on stands in a secure garage under a cover. No-one other than my wife and I have seen it in over a decade. I just like thinking about how much it goes up in value

Geez, don't you worry at all about condensation in the diff and gearbox gears sitting above the oil level?..that would worry me to death!,,but your car and do as you like with it, whatever makes you happy!


Cheers King Billy

[Falcon SXR8]

Its worth every second of it. Life is to short to drive boring cars. No better stress relief on a friday arvo than firing up your old dinosaur, hitting the back roads and letting the old girl thunder through the countryside.

[FairmontGS]

Originally Posted by slowsnake

Geez, don't you worry at all about condensation in the diff and gearbox gears sitting above the oil level?..that would worry me to death!,,but your car and do as you like with it, whatever makes you happy!


Cheers King Billy

Nup, people who bid on these things rarely check if they actually go. When the time gets nearer to selling I'll decide which route to pitch - maintained or 5 bags of chook poo and a box of rats.

[Trevor 57]

Took my XP Coupe out for a run with our car club yesterday and guess what? It was raining . . . . . . . .shock horror - hell no, it is just a car, it gets wet when I wash it LOL

It was our biggest car run since the inception of the club 5 years ago - the small rural pub was very pleased with the 63 people who showed up for lunch and drinks