Tough Decision - Pontiac GTO Forum
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post #1 of 25 (permalink) Old 10-13-2012, 05:09 PM Thread Starter
 
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Tough Decision

Ive got a very tough decision to make guys and I really need to hear from my fellow GTO owners.

I have a 1970 GTO that I have 98% frame off restored myself over the last 2 years. I never drive the car. I really have a love/hate relationship with this car. This probably sounds crazy but I have about $33k invested in this car so far. I have advertised it on craigslist for $23k and I had a guy that owns a car lot locally come look at it and I told him $18k was bottom dollar on it. He said hes gonna research it some and get back with me. I heard he was gonna throw a bigblock in it and some 22s on the back and 20s torque thrust on it if he buys it. That sorta makes me sick to think about that happening to a car that I have put so much time and money and a part of me into.

Im torn as whether to sell it or not. If I keep it and drive it it will slowly decrease in value or someone will knock it out of the road for me. Then Im screwed. I really hate that I put so much money into it. Fact is I wont have the money to finish up the little stuff for a while, like a few years.

If I sell it Im going to pay my z71 off, buy a late model trans am or GTO and install a storm shelter at my house. I just dont know what to do honestly. Everyone says take the $18k. Nobody seems to understand that car is a part of me its not just a car I went to a lot and purchased. I built this car! But on the other hand. I never drive it cause Im affraid to mess it up. I want to drive it but I dont want to ruin something Ive invested so much into.

Give me your thoughts guys cause seriously my nerves are torn up on what to do and losing sleep thinking about it eitherway.


Here is a few pictures of her.





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post #2 of 25 (permalink) Old 10-13-2012, 05:58 PM
 
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WOW ...nice car....... I had a car that I built and then sold it.... sometimes wish I had kept it. I never build a car thinking I am going to come out flush....It seems to always cost me more to build them, rather than buy them. Only you can decide what is right for you...... Also if I have a tough decision to make, I have learned to take my time. If you are unsure, let it ride a couple days, until you are ok with either outcome. If it is meant to be it will be.... good luck.
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post #3 of 25 (permalink) Old 10-13-2012, 07:51 PM
 
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I bought a Z71 new in 2000, and when my wife was pregnant with my first child in 2002, I sold a nice '69 Firebird 400 4 speed to pay off my Z71. I got 12K for the car 9 years ago. I just sold that 2000 Z71 last month for $6000 and that Firebird is worth more than 18K now. I got rid of my payment, but I lost my Firebird for a POS "new" truck that will depreciate every year you have it until you either sell it or sell it for scrap. New cars/trucks these days are pretty much disposable, and very few will ever be classics. I would think long and hard about it if I were you. You have to do what is best for your situation, but selling a classic car to pay for a new car is a very sensitive subject for me, and one of the few downright bad financial decisions I've ever made. If I had it to over again, I would have kept my Firebird and sold the Z71. I would bought a little older truck and let it depreciate.

In short, I wouldn't trade 2 two Z71's for that GTO because in 10 years you won't have 18K worth of trucks. JMO...

'67 GTO 400 H.O. - 4 speed - 3.55 posi

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post #4 of 25 (permalink) Old 10-13-2012, 07:56 PM
 
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BTW - if you keep it, insure it and drive it. Enjoy it. Classic car insurance is not that expensive, and if something happens to it, you'll be covered. That car is not going to go down in value if take care of it and drive sometimes. Drive it on nice weather days, and be smart about where you take it and park it.

'67 GTO 400 H.O. - 4 speed - 3.55 posi
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post #5 of 25 (permalink) Old 10-13-2012, 09:03 PM
 
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"if I have a tough decision to make, I have learned to take my time. If you are unsure, let it ride a couple days, until you are ok with either outcome. If it is meant to be it will be.... "

"I would think long and hard about it if I were you."


Hmmm, I am detecting a "pattern" here, in the advice being offered. Sound advice at that.

I hope whatever decision you make it works for you, both long and short term.

The glass is half full of course; I always try and remember that, there're people out there (zillions of 'em) that'd LOVE to have our 'problems'

Best o' success!
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post #6 of 25 (permalink) Old 10-13-2012, 10:11 PM Thread Starter
 
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The only time Im in love with this car is when I drive it! As crazy as that sounds. When its setting in the garage collecting dust. I hate that car! But everytime I drive it I fall in love again. I cant go anywhere without ppl saying "hey man thats a badass car" or "I had one of those back in high school wish I still had it". I even had a lady tell me "I went to prom in one of those".
Paying of a truck isn't my primary reason for thinking about selling. My wife wants a storm shelter pretty bad. We lost our home almost 3 years ago to a tornado. Thats how I built the GTO, I took my left over insurance money went out and bought some GTOs and put this together. I even sold my avalanche half way through the build because I ran out of money. I couldnt have a half done car setting in my garage for the rest of my life. With out the tornado hitting and having some money left over. There is no way I could have ever afforded to build this car.

The only other thing I really hate is I want to take it out on long trips for shows like from my house to the Rod Run in Pigeon Forge is about 4 hours. If I break down, most parts stores do not stock these old pontiac parts. For that reason I have really wanted to do a LSX conversion. I know alot of ppl are against that, but parts for those are readily available at any chain parts store. To do the LSX conversion Im looking into about another 3-6k in this car.

I got some thinkin to do I know that for a fact. Thanks guys for your responses. And I welcome more responses. I feel like Im putting one of my kids up for adoption here.
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post #7 of 25 (permalink) Old 10-14-2012, 07:08 AM
 
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Wow. Don't know where you're at (we're in So. MD) but, were it not for the fact that I am dropping the $ hammer on a '73 Challenger w/ a 440 Magnum in it later this week, I'd swing by and beat that flipper's offer by $500 or so, just so you don't have to worry about her, in the future! (FWIW, the guy I'm buying the Chally from said one reason he is selling is all the domestic heat he's enduring over the facts that, after he bought it 8 years ago, he had to buy a trailer and then a truck to show it long distances, as you describe!). Best o' success man and I am grateful that none of your loved ones were injured in that natural disaster.
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post #8 of 25 (permalink) Old 10-14-2012, 07:26 AM
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OO, I sympathize brother. It's very hard to put something you spent so much time and energy (and love) on into harm's way by driving it. When I first started driving the Beast, I was a basket case every time I took it out worrying that something was going to happen to it, or someone was going to steal it. I can tell you this though, as time has gone by those feelings for me are letting up to the point where I flat LOVE driving this car. I can relax when someone comes to look at it when I'm out somewhere (and they almost always do) and they have nice things to say about it. I get a kick out of watching their expressions change when I say, "And I did every bit of it myself."

Those feelings you get when you drive the car? That's telling you something. These cars weren't meant to be locked away and protected, they were meant to be enjoyed - by you, and by the people who see it. Yeah, it's true that "something might happen" but you know what I think? If I let the fear of that keep me from enjoying this car, then eventually what will happen is that I'll come to the end of my life, or at least the end of my being able to drive, and I will have missed out on untold hours of fun and enjoyment and all I'll be able to do (if I'm still breathing) is to sit around and wish that I'd taken advantage of the opportunity when I still had it. So, my recommendation? If your financial/family situation is such that you don't have to sell the car, then don't. Get it finished and then get it out on the road and ENJOY IT! The worry and fear will ease with time.

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post #9 of 25 (permalink) Old 10-14-2012, 07:59 AM
 
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Originally Posted by OrbitOrange View Post
The only time Im in love with this car is when I drive it! As crazy as that sounds. When its setting in the garage collecting dust. I hate that car! But everytime I drive it I fall in love again. I cant go anywhere without ppl saying "hey man thats a badass car" or "I had one of those back in high school wish I still had it". I even had a lady tell me "I went to prom in one of those".
Paying of a truck isn't my primary reason for thinking about selling. My wife wants a storm shelter pretty bad. We lost our home almost 3 years ago to a tornado. Thats how I built the GTO, I took my left over insurance money went out and bought some GTOs and put this together. I even sold my avalanche half way through the build because I ran out of money. I couldnt have a half done car setting in my garage for the rest of my life. With out the tornado hitting and having some money left over. There is no way I could have ever afforded to build this car.

The only other thing I really hate is I want to take it out on long trips for shows like from my house to the Rod Run in Pigeon Forge is about 4 hours. If I break down, most parts stores do not stock these old pontiac parts. For that reason I have really wanted to do a LSX conversion. I know alot of ppl are against that, but parts for those are readily available at any chain parts store. To do the LSX conversion Im looking into about another 3-6k in this car.

I got some thinkin to do I know that for a fact. Thanks guys for your responses. And I welcome more responses. I feel like Im putting one of my kids up for adoption here.

I was speaking mainly of the thought of paying off the Z71 and buying a new T/A or GTO. I just see that as trading an investment for something that will go down in value. The storm shelter is probably a good idea, but I would try to finance it without losing the car. We lost our home in 2010 to a fire, so I know what's that like. I wouldn't wish that on anybody.

.If you are really worried about it breaking down on long trips go buy an alternator, voltage regulator (if it still has one), starter, points/ign module, coil, fuel pump, fuel filter, and a starter and put them in a plastic tote in the trunk. Take a small tool kit and you'll be set. Short of a major engine failure, and that's really the main parts that could put you on the side of the road. You can buy all of that for about the price of a water pump on a LSX engine -lol. I used to do something similiar when I drove my Firebird, my '69 Chevy CST/10, and my '71 GT-37 to Turkey Run and PCB (although I didn't have everything I listed above). I had an alternator fail on the GT-37 and the one that came on the car as a spare in the tote, and it got me home.

Good luck with whatever you decide. I've had several cars over the years that I really, REGRET selling, and I think in time you would really regret selling such a beautiful car. I have dreams that I still own my '69 Firebird -lol. It was a starlight black car with a parchment interior, RAIII, 4 speed, 3.55 posi. I had a new complete interior kit, (about $2800 worth), new radio, gauges, radio, D98 stripes, and tons of other parts new in boxes for my GT-37 that I lost in the our fire. I had the stuff stored in my office and the insurance would not cover it. I decided to sell the GT-37, because I would have had to buy everything again, and I just lost interest. I thought I was done with old cars, but I couldn't stay away. I am just now starting over with the '67 GTO I just found. The '67 GTO is my dream car, so this one is going to be a keeper if I can.

'67 GTO 400 H.O. - 4 speed - 3.55 posi
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post #10 of 25 (permalink) Old 10-14-2012, 10:30 AM
 
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If that car is as sweet as it looks in the pictures........I think you ought to keep it and sell something else.....I have NO idea how you did that for 33K....and I sure wouldn't sell it for 18K !!!!!!!!!!! Just sayin' Eric



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