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  #31  
Old 04-10-2022, 04:54 PM
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Lots of great thoughts from you guys ! Adding to the resale value or marketability of my home is not really a concern, as i plan to be here for as long as possible. I don't really have any other interest or hobbies. So i believe i would regret selling the cars more than spending the money to build ? I tend to over think everything ,especially financial stuff. As said ,We don't know where the collector car thing will be in 10/15 years from now? but i'm not sure i really care ? Having everything under one roof would just make what i love to do even that much more enjoyable. Probably just not the best time to be building because of the cost that's for sure...
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  #32  
Old 04-10-2022, 05:43 PM
CamaroNOS CamaroNOS is offline
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Originally Posted by William View Post
At 57 you're 8 years from Medicare eligibility, 10 years from SS FRA. Unless you want to pay for private health insurance, you need to keep working until 2030. You just took a pay cut and are now contemplating burning a large sum of cash for a garage addition to store cars you don't drive. Even you know those cars have probably peaked in value.

Were I in your position, I would not bet a good chunk of my future retirement funds on old Muscle Cars being a wise investment. There is tremendous pressure to get rid of fossil fuels. 12 state governors have asked the current administration to ban the sale of new fossil-fueled cars by 2035. Maine has already raised the possibility of banning gasoline.

By the time you retire, the world and our hobby will be a very different place.

Man did you hit it right on the head William, atleast for me.

Over the past several years now, I have come to realize (personally) that two vehicles are just what I need and here is my reasoning.

1. I still work so I am a busy guy with life.
2. I am not a millionaire, just a smuck with average life/income/family which has granted me the ability to have an average size shop which holds two cars.
3. I do not have the ability to drive more that one car at a time, let alone four/six/ten/etc.
4. If you have more than one car, that means they do not all get driven like they need to be.....in my world.
5. I really don't like paying storage/insurance for my toys if I am not using them.

I am also a believer that our beloved muscle cars will not be a great long term investment. Just read the above quote/facts which tells me the writing is on the wall and has been on the wall for 10 years or so. Covid really messed that natural progression. The ONLY reason cars and everything else went to the moon lately is obvious. In my world (1969 Camaro's) they were steadily dropping in value (slowly) for years prior to Covid and I was fine with that. Everything has a shelf life.

So in a nutshell, downsize the fleet a bit while prices are at all time highs.

And more important, prepare for your well deserved retirement.

Paul
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  #33  
Old 04-10-2022, 07:06 PM
GMC_Typhoon GMC_Typhoon is offline
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True, but lots don't want a 4 car garage, so it could decrease the pool of interested buyers in the future.
I was speaking more of an outbuilding per se, not actual garage doors.
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  #34  
Old 04-10-2022, 07:13 PM
GMC_Typhoon GMC_Typhoon is offline
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Originally Posted by GrumpyJeff View Post
Lots of great thoughts from you guys ! Adding to the resale value or marketability of my home is not really a concern, as i plan to be here for as long as possible. I don't really have any other interest or hobbies. So i believe i would regret selling the cars more than spending the money to build ? I tend to over think everything ,especially financial stuff. As said ,We don't know where the collector car thing will be in 10/15 years from now? but i'm not sure i really care ? Having everything under one roof would just make what i love to do even that much more enjoyable. Probably just not the best time to be building because of the cost that's for sure...
Yes you would regret selling your cars. You can't unring a bell. Seems to me like you already know what you want to do. I do understand that cars are just stuff, but sometimes they are irreplaceable.
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  #35  
Old 04-10-2022, 07:51 PM
EZ Nova EZ Nova is offline
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Grimpy, if you are thinking about keeping your cars, and you can afford building, then just do it and build. There is litterally no down side to building onto your place.

At this time I have 4 cars. I have 2 car garage at house, so 1 there, and own rental stuff where my single unit will hold 6 plus work space. I like having options and I doing what I want with my stuff.

Go for it buildon. You won't regret it. Now selling off and downsizing?? I can see regrets and seen it happen before.
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Old 04-10-2022, 10:44 PM
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I think you'll find when everything is at home, you tend to appreciate the cars even more. One of the things I enjoy most about my building at home (aside from having my cars in one spot), is the things I have collected for memorabilia.

In short, it's my happy place. You cannot put a price on that
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  #37  
Old 04-10-2022, 10:57 PM
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Anyone remember when muscle cars had PEAKED in value in the 80s and they’d never be worth that money again? What happened there? I’d say right now the euro trash (as we affectionately call them) is at a peak. Muscle cars are in a valley. Only time will tell what it brings when the whole world goes electric. (Assuming that happens) remember the 70s when muscle cars weren’t worth squat people were offing them and a 62 vette was $400 to $1800 people were standing in line for gas on odd and even days and solar panels were going on roofs all over America? What happened with that? It’s hard to judge what tomorrows markets will bring
Think of the cars you may have sold and what they’d be worth today? Now think of what a new car cost is today? A model X Tesla tri motor is $165k well optioned. Again hard to say because that car will run a 9.90 new from the factory. And a muscle car ran 14s We know our cars will become more and more rare as some people decide to drive and enjoy them and use them up. Only question that remains is will they be desirable still? Rare isn’t what matters, it has to be coupled with desire. So to answer your question. Do what you enjoy and worry about the money as a secondary because there’s no way to know for sure.
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  #38  
Old 04-11-2022, 12:13 AM
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Quit posting all this logical chit. You guys are making me feel like a moron..... and old... I am pushing 70. Reality is starting to set in, and I don't even have my dream garage / storage facility done yet. Lord, I hope I live long enough to enjoy it.
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  #39  
Old 04-11-2022, 12:24 AM
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Originally Posted by Lynn View Post
Quit posting all this logical chit. You guys are making me feel like a moron..... and old... I am pushing 70. Reality is starting to set in, and I don't even have my dream garage / storage facility done yet. Lord, I hope I live long enough to enjoy it.
I hear ya.....sorry to make ya feel bad. That was not my intention.

Go borrow $125,000 and build the "best damn garage in town" as Grumpy would say. Mortgage it over 50 years and and you will be the smartest one of us all.

Just make sure you invite us all down for a nice cold beer when you have your grand opening shin dig.

Paul
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  #40  
Old 04-11-2022, 01:17 AM
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Purely tongue in cheek. Your self evaluation is nothing but good. I would be glad to host a shindig here in Guthrie, "Murca" when I get this shop done. I bet my buddy at Short's automotive would co-host. He is in the original Chevy dealer location (Austin Chevrolet). One of the members here has a car that was originally sold from that dealership. There is a pic of it on the wall in the showroom (which is now a bicycle shop). The elder Mr. Short just recently passed. He worked in that garage right up to the end. His daily driver was a beautiful 69 Chevy, 283 PG car. He started working there in the 50s.
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