People who love money own and drive classic cars

'68cuda416

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Think about it......cost basis analysis of buying a very nice old at least driver quality car versus buying a brand new car? How about the yearly taxes if you live in a state that has personal property taxes......my Demon and Barracuda are appraised at 100 dollars a piece. Price differences between repair parts. Return on investment will always go to a classic car, insurance is cheaper, and the list goes on of all the benefits but i'm trying to stay more focused on the financial beneficial reasons. What say you?
 

67Dart273

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I have not found that to be true. Cost vs driven per mile= sky high. Even though mine has been "apart" I did not want to be limited by "collector plates" of some type. I have what Idaho calls "year of manufacture" plates, and I pay full price normal registration PLUS a premium to have the YOM plates. My liability is certainly not less, and the volume and cost of parts and maintenance is astronomical. You have to, in some way, factor in the much greater time spent just FINDING parts. Searching C/L, Marketplace, Ebay whatever. Often there is shipping costs.
 

'73red-duster

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PP taxes are pretty reasonable here. Taxes on my classics this year were $4.85 each. My ‘17 Ram was $414. Ins on the two I have full coverage on average just a little over $100 for 6 months. As of right now, I have regular plates on my classics, so I’m not limited, and as far as insurance goes, they are both listed under 5,000 miles. I didn’t drive both of them half that much last year.
 

'73red-duster

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Pretty sure that the majority of those profiting on these classics are the body shops, and mechanics that we pay to work on them. :)
 

Oldiron440

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If you don't spend to much on the car and crazy parts and do your own work your classic will be worth more than you have in it this year and next try that with a new one.
 

'73red-duster

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If you don't spend to much on the car and crazy parts and do your own work your classic will be worth more than you have in it this year and next try that with a new one.

I agree, as long as you can do all your own work. Most mechanical I can do myself. I’m envious of those of you that can do body and paint.
 

barbee6043

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Back before retirement I drove a Duster of some sort to work every day. Just solid driver type cars. Usually slants. When I would sell one, always more than I had in it. It was tagged antique and insured as a classic. Never an accident and never an issue. But that was Mo.
Once I had a little Ford Ranger, 15yrs old. Bought it fr $1000 with 125,000 because it had an off and on bad rely that costs $13. I put 200,000 more mi on it and sold it for $1000.
I have never NOT lost $ and cost me with any modern car .
 

MOPAROFFICIAL

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I've put 7 grand into my car... and it was all tires, wheels, exhaust,suspension and drivetrain.

The car is in faded primer still.

$140 a year registration ...19 yrs ago it was $40.... California is always making you pay over again for something you already own.. It's a joke.

One wonders if it could be taken to court over the idea of taxing something already paid, taxed and privately owned ..
 

'73red-duster

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I've put 7 grand into my car... and it was all tires, wheels, exhaust,suspension and drivetrain.

The car is in faded primer still.

$140 a year registration ...19 yrs ago it was $40.... California is always making you pay over again for something you already own.. It's a joke.

One wonders if it could be taken to court over the idea of taxing something already paid, taxed and privately owned ..

Glad I live in Missouri. PP tax on my Dart Sport was $4.85 and license for two years about $60.
 

Moms68

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My 2003 truck, 4x4, is my daily driver. 1 more year it will be eligible for “classic” plates. Here in CT, the highest tax state, the truck can only be assessed for 500.00 with respect to property tax. I’ll drive it until the body falls off.
 

harrisonm

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Tough question. Notwithstanding the pleasure and joy one gets from owning, driving and working on a classic car, you wanted to focus on finances. I will agree that there are a lot of financial advantages. Annual taxes and registration here are very low. Insurance (Grundy) is very low. I think I pay $225 a year, but there are some restrictions. For the most part, it is probably cheaper to repair a classic car. Considering parts, a new carb, for example, costs far less than some of the sensors, catalytic converters electronic modules, etc. on modern cars. Labor is a different matter. If you have to pay someone to work on your classic car, it may be expansive, but probably no more so than labor on a modern car. On the other hand, if you can do your own work labor is zero. So regardless, if you add parts and labor together, classic car work is probably cheaper than on modern cars. Cost per mile driven is probably much higher than on a modern car. Many of us use high octane fuel. Most of us probably change oil at less than the 7500 (or so) mile interval for modern cars. Plus, we probably all spend money on upgrades and doo dads here and there that we do not do for the daily driver. Plus, my 69 340 (360 HP) 4 speed Barracuda gets about 10 MPG in town and about 15-16 on the highway. Overall, it may be a wash. BUT, we don't own classic cars because we are concerned about whether this or that costs a little more or less than with a modern car.
 

barbee6043

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Here in Tx you buy a 5 year antique tag and total cost including property tax for that 5 yr period is like what $50-75?
I did that with my 1995 Ram 3500 insured thru collector car co. I told that how much I usually drive it per year and the head guy aid why not! $100 a yr. or was it less?
Back in MO.the antique tag was what $20 and good forever. Did not even ask for a vehicle inspection!
Every state is different!
 

petty437

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There is a couple I know who buy nothing but fairly clean classic cars (25 years old or older) as their daily drivers. They usually go south or west to get them. Keep them for 3 or 4 years, sell them, then start again. They do it because he can get & keep them running on his own, in their garage. A very nice garage I might add. They are never concerned about OEM parts or the like. They say laying out $5000 to $8000 is better than $30,000 to $40,000. I do get sad watching a nice looking 67 galaxy or 71 Satellite driving down in the middle of an Ohio winter though.
 

barbee6043

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^^^^^We have great weather, no salt, and very few old cars are ever dailies. Why. Even an idiot here makes stupid $.
But I would never drive one in say Houston totally f**** up traffic either IF I had to go any distance!!
I seldom see any driven much here in the sticks!! Seeing someone in an 80s Camaro is bout it.
No one drives old trucks here daily, not even the illegals! lol
 

dano

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Depends on your needs. I wouldn't use the Dart as a family car, the kids would ruin it. I used to commute 27 miles one way to work 5 days a week, arrival time at 6am. I wouldn't daily commute in the my Dart either. Rain, crappy drivers, crap on the road, and in a city that can't afford to be prepared for poor weather when we do get it. Now I work from home I'll drive the Dart to pick up my boys from school and cruise around, but it get stored for the winter. I used to drive a 66 Coronet here when I was in collage, 4 wheel drums, single master, leaking seals, I smelled like raw exhaust every where I went. Needless to say I was happy to get a modern car for the daily grind.
I'm well over $30k into the GTS that started in 1996, so even today you could buy a nice modern car for less.
 

'68cuda416

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I have not found that to be true. Cost vs driven per mile= sky high. Even though mine has been "apart" I did not want to be limited by "collector plates" of some type. I have what Idaho calls "year of manufacture" plates, and I pay full price normal registration PLUS a premium to have the YOM plates. My liability is certainly not less, and the volume and cost of parts and maintenance is astronomical. You have to, in some way, factor in the much greater time spent just FINDING parts. Searching C/L, Marketplace, Ebay whatever. Often there is shipping costs.
You have to in most peoples cases start off with a pretty good car, wasn't meant to mean buying a basket case and restoring it from the ground up. You can not get cheaper driving than a slant 6 Mopar period.....incredibly reliable, stupid cheap parts, just the true definition of what daily transportation was meant to be.
 

'68cuda416

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Pretty sure that the majority of those profiting on these classics are the body shops, and mechanics that we pay to work on them. :)
It wasn't meant to mean selling of the cars it was meant to provide an example of the simple fact that modern day cars depreciate every year whereas classics or old cars will or should hold thier relative value. Also one would hope that most could do the necessary work needed on a 60's or earlyish 70's car without too much trouble....even if they had to buy a manual or ask a friend to help that aspect of it should not be outside of most peoples reach.
 

'68cuda416

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Depends on your needs. I wouldn't use the Dart as a family car, the kids would ruin it. I used to commute 27 miles one way to work 5 days a week, arrival time at 6am. I wouldn't daily commute in the my Dart either. Rain, crappy drivers, crap on the road, and in a city that can't afford to be prepared for poor weather when we do get it. Now I work from home I'll drive the Dart to pick up my boys from school and cruise around, but it get stored for the winter. I used to drive a 66 Coronet here when I was in collage, 4 wheel drums, single master, leaking seals, I smelled like raw exhaust every where I went. Needless to say I was happy to get a modern car for the daily grind.
I'm well over $30k into the GTS that started in 1996, so even today you could buy a nice modern car for less.
I didn't intend for people to think I meant using genuine muscle cars as daily drivers.....I was more so meaning slant six cars, 4 doors, the not popular models, etc.
 

Ottmundr

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I have not found that to be true. Cost vs driven per mile= sky high. Even though mine has been "apart" I did not want to be limited by "collector plates" of some type. I have what Idaho calls "year of manufacture" plates, and I pay full price normal registration PLUS a premium to have the YOM plates. My liability is certainly not less, and the volume and cost of parts and maintenance is astronomical. You have to, in some way, factor in the much greater time spent just FINDING parts. Searching C/L, Marketplace, Ebay whatever. Often there is shipping costs.

Free shipping at summit on orders over $100. And, if interstate 80 isn't shut down I get it the next day.


:poke:
 

69conv

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First and foremost I love my cars. Remind me of family and times gone by. See my threads and you will know what I mean. Now to cost. Original purchase price. Scour the country for parts equals time committed. Ridiculous cost for highly questionable parts. Diagnostics to even determine what needs to be serviced or replaced. Time to remove and replace parts plus research to make sure its done correctly like plug reading and carb tuning. Did I mention the tools necessary to accomplish the above? I'm in Michigan so heated garage/polebarn. Did I mention I paved the polebarn and bought a lift? New larger tool box to hold some of the tools I need to keep everything running. Last engine swap borrowed picker and stand. That was lucky cause I didn't have to rent or buy. My Cuda got a ground up rebuilt motor, trans, 8 3/4 rear, espo springs, patriot headers, dynaflo exhaust, msd, aluminum rad, Legendary interior etc all installed by yours truly. Now I have rust on my frame. Wouldn't trade any of it for the world. I get to drive a 1 car parade and meet great people who would have never talked to me if the car hadn't broken the ice. BTW my Dad rides with me everywhere I go.Dads Barracuda Priceless. Then theres my other car.Help me sort my combo Same story different setting. Worth it!
 
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