I have owned a 67 GTO post coupe for 10 years now, due to moving and school I was not able to do much to it for most of those years. Two years ago I decided to pull the body off and start a frame off resto(mod). I am now married and have decided to return to school. This means I will not be able to afford to do any more work to the car for another 5 years as I wont have the time or the money. When I bought the car I swore I would never sell it but looking at the cost of going back to school and having it sit ANOTHER 5 years makes me question if I should try and sell it to pay for school. I should note that I told the wife if I sold my car to pay for school it was the FIRST thing on the list to buy once I graduated (luckily for me she likes muscle cars). So, do I sit on it for another 5 years without doing much of anything to it, or sell it and make school easier then shop again when I graduate?
It depends on how much you have in it, and if you can replace it for that price later, and how much of a difference it can make towards your education. If it is decent and you have nothing in it, then keep it. Either way, you may regret it later. But, take care of you and family now, time for toys later.
To be realistic, it sounds like you bought a complete car and took it apart. And it's still apart. That means selling it would not gain you much. It's worth less than half of what it was all in one piece, maybe less. The prices of these cars are down now. They will go back up, but hopefully not to the unrealistic and innappropriate levels that they were at, making them out of reach for most. My advice would be: 1) Hold on to the car and weather the storm, or 2) put it all back together so you can sell it for the most amount of $$$. Selling a basket case is a losing proposition 100% of the time.
If you can afford to...I would keep it. As already stated, it is apart and prices are down. But...what you have is better than money in the bank. That is IF you can do what you have to do without what little you would get for it.
I would keep it, you won't get that much for it now and the way prices have increased over time, 5 years from now the prices will be higher. Plus after your schooling you'll be making more money to spend on it.
+2 with GeeTee, car in boxes is half of what a runner would be. Market is way down, been watching the sales and very few cars selling for reserve besides verts, survivors and judges and even those are few and far between. I can get a nice 70' with the judge trim for a fair price that only needs final prep and paint. Was kicking around buying and finishing to flip within the next few years for a little profit (and driving to shows and such with the sign in it ) but for what the markets saying it's worth, it's a crap shoot.
Those are all very good points, I knew that selling it in the condition it was in was going to be a losing battle. I plan on doing my best to keep it and then resuming the restoration when funds permit. If it comes down to having to sell it to stay in school then so be it but I think holding on to it for another 5 years will be worth it in the long run. I've talked to way to many people who sold a car they loved only to regret it years later. Thanks for the advice and info on the market!
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