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June 8th, 2007, 09:40 AM #1What Would You Do?
Recently, my Mother-in-law passwed away. About 10 years ago, my father-in-law passed away. My wife and I are now settling their estate.
Back in 1972, my FIL purchased a 1968 Mustang with the intent to restore it and give it to my wife on her 16th birthday. For whatever reason, that never happened. He also purchased another 1968 Mustang around 1972 to use for parts while restoring the other one.
Fast forward 35 years later, there are 2-1968 Mustang's sitting in the garage. For all intentisve purposes, not much restoration was ever done.
We are split as to what to do with them. We could try to restore one of them and drive it or we could just try to sell both. Restoring it is obviously going to cost a good amount of money, but I am not sure how much or if it's really worth it, setting aside the sentimental value.
Not really sure what to do.
June 8th, 2007, 09:52 AM #2
I am probably not giving you the answer you are looking for as I do not have much knowledge about the costs that restoration would involve.
But they are 1968 Mustangs...you GOTTA keep one of 'em around for yourself!
I absolutely love vintage cars. What color are the Mustangs, by the way?
June 8th, 2007, 10:07 AM #3Originally Posted by Rachna06
June 8th, 2007, 10:13 AM #4
- Join Date
- February 8th, 2006
ebay, i know of people who sold vintage cars, and vintage mustangs are very popular.
otherwise, you will have to do a lot of work, get the cars moved near you, find someone to restore them, etc. $$$$$$$$$$$$
June 8th, 2007, 10:34 AM #5
- Join Date
- January 17th, 2005
When I worked in Corporate America one of the senior managers restored vintage cars as a hobby - couple of jaguars, mustangs, and a vette. One time talking about the gullwing Mercedes he was trying to buy to restore - he confided every spare dime he had went into the cars... plus a recent second mortgage.
Car restoration is a fine hobby if you have the cash to do it... I'd say sell the cars and with the profits buy your wife a beautiful, engraved piece of jewelry... something she will cherish as not only coming from you but will bring her memories of her fatherCharPaula
Staying focused on the bottomline
June 8th, 2007, 01:29 PM #6Originally Posted by SeymourButts
Also, charpaula, I really like your suggestion about purchasing engraved jewlery with the $ from selling the cars to keep the memory. Excellent suggestion!
June 8th, 2007, 02:17 PM #7
- Join Date
- January 18th, 2005
- Nunya, Business
My dad has a few old cars that he's restored/has had help, one a show car, many trophys.
"Restoring it is obviously going to cost a good amount of money, but I am not sure how much or if it's really worth it, setting aside the sentimental value."
The money you put into it, you'll probably get that back and more after it's restored. Using original parts, even better. Sometimes they're hard to find.
So after it's restored you can sell it pretty easily for more that you put into it, you can also make money with it in a few ways. Classis cars for movie shots. My dad also makes a few thousand over a weekend when Disney has the soap opera parade stars thing they do. Just driving the car with some soap opera star in the back waving their hand, easy money.
June 8th, 2007, 04:28 PM #8
And let's not forget about this: getting your hands dirty while replacing a carburetor is a welcome distraction to sitting on one's butt in front of a computer.
I'm grateful for my e-employment, but every now and then I just have to go get dirty. What better way to do that then by putting a car back together? If it were me, I'd bring the cars to my place and just take my time putting them together. I would look at it as an opportunity to bring the boys together, hang out with my sons (I don't have any boys yet, just the one girl), and have a good time doing something as manly as rebuilding a 1968 Mustang.
And I'm not even a Ford-man (I prefer the General).Chris Sturgill
"All my life I've had one dream, to achieve my many goals." - H. Simpson
June 8th, 2007, 04:34 PM #9
restore them or sell them to someone that definitely will, they have too much intangible value, richer still from your story told, to let them go unpolished.
if either is drive-able, get out in it. the mustang draws eyes and comments and you'll fall in love with it once you see how others lust after it.
June 8th, 2007, 04:38 PM #10
Seems like for 35 years your wife didn't feel the need to drive it, or pursue her parents from restoring it, so my suggestion is to sell it, unless there's some major sentimental value on them.
the engraved jewelry sounds like a good idea for the $.
June 8th, 2007, 04:41 PM #11Originally Posted by ReallyBigGuy
June 8th, 2007, 04:44 PM #12
Also, just re-reading it.. How much restoration did a 4 year old car need?
June 8th, 2007, 08:32 PM #13Originally Posted by ReallyBigGuy
June 9th, 2007, 05:57 AM #14
Originally Posted by ReallyBigGuy
- Join Date
- May 31st, 2006
- Houston TX
I think it might need some major work. The auto forum that I am on, there are people that buy wracked cars and stripping it for parts. Parts that they don't need are always posted in the For sale section.
Keep us posted and I am sure that it's gonna be a fun project.