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#2426399 - 12/31/17 01:15 PM Re: Did you ever liquidate to improve your situation? [Re: tboomer]
fourgearsavoy Offline


Registered: 12/07/04
Posts: 9044
Loc: Rittman Ohio
Well over the past few years medical bills and hospital stays have pretty much depleted whatever savings we had. So now I work my azz off at a flat rate technician job just to keep a cushion in the bank.
I still rely on building the occasional engine or transmission on the side to keep my old Savoy going. I could probably sell my Savoy and put a good chunk of money back in savings but I only have the one car and it makes me smile when I drive it.
If it came down to a roof over my head or a car in the garage the car would have to go. My wife calls the Savoy our retirement money and she's right because I'm never going to put an automatic in it so I'll drive it till I cant push the clutch anymore biggrin

I know I would regret selling my Savoy because it has become part of my identity twocents

Gus beer


Attachments
23231224_1750435168331817_8297307229037431265_n.jpg


_________________________
64 Plymouth Savoy
493 Indy EZ's by Nick at Compu-Flow
5-Speed Richmond faceplate Liberty box
Dana 60

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#2426404 - 12/31/17 01:23 PM Re: Did you ever liquidate to improve your situation? [Re: tboomer]
moparpollack Offline
I Live Here

Registered: 11/13/05
Posts: 14417
Loc: 85086
Thinned the heard almost 2 years ago to move to Phoenix. Still have toys and just getting back to where I was 2 years ago. The new shop was 3 times as expensive as the old one. The super expensive shop was something I hadn't planned on but living in tornado alley wasn't where I wanted to be. It was worth it in the end as it's 16 degrees and OKC and 55 out here in Phoenix! boogie
_________________________
67 Coronet, 68 Roadrunner, 69 Super Bee, 69 Coronet 500 convertible, This Space to be Filled, 79 D150 360, and a severe case of Mopar a,d,d

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#2426413 - 12/31/17 01:36 PM Re: Did you ever liquidate to improve your situation? [Re: OhioMopar]
dan9 Offline
super stock

Registered: 12/30/09
Posts: 974
Loc: pa.
I am 67. I have had 100's of cars in my life. I started getting rid of some my old cars about 10 years ago. I was up to 10 old cars (mostly all done). Last year I got down to my 70 Challenger that I decided to keep. I will always keep a car of interest because if I sold it I know it will cost too much to get back into one.

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#2426419 - 12/31/17 01:47 PM Re: Did you ever liquidate to improve your situation? [Re: tboomer]
11secdart Offline
master

Registered: 08/22/03
Posts: 3966
Loc: new jersey usa
Back in the late 70s I had an original 73 Duster 340 I took good care of never drove in the winter etc. even drove it to the Car Craft Street Machine Nats. once. I decided at the time to attend community college full time so I sold it to a guy the next town over. He totaled it a week later so hard it cracked the motor mount ears on the block, he was ok me and a friend bought some parts back for a few hundred bucks. turns out full time college wasn`t for me so I went back to work and finished part time and regretted selling the Duster. I didnt work for a year and a half 8 years ago but collected unemployment and before that still was receiving money from a 21 year job i was laid off from. Luckily my wife has a good job and we were ok financially I cut back on racing but still went on occasion. I am looking at retirement in a few years but as I look at my fleet they aren't really worth enough to bring any real money to make a difference except maybe my Dart which i have had for 35 years. I hope to still race even if i have to cut back and work part time.


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IMG_1068.PNG




Edited by 11secdart (12/31/17 01:48 PM)
_________________________
08 1500 Quad Cab Hemi 4x4
92 D150 5.2 (318) 2WD,shortbed,original owner, multiple time Trophy Class Winner @ Mopar Meets
68 Dart 408 ci, R3, Indy Heads, pump gas, 904, 3,150 lbs, footbrake, mid 11's
2013 Island Dragway Street Eliminator Points Champion
2014 Raceway Park 11.50 Index Points Champion

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#2426519 - 12/31/17 02:49 PM Re: Did you ever liquidate to improve your situation? [Re: OhioMopar]
a12rag Offline
top fuel

Registered: 04/23/07
Posts: 1921
Loc: Calgary, Alberta Canada
Life has a way of making you look at things differently at different age. I sold my Duster360 in 1990 to buy my townhouse ... sure did miss the car - I got it in 1984 and restored it, but felt I needed to "be an adult" and get on with life . . . fast forward 3 years, sold the townhouse, bought my Duster back from buddy I sold it to - his wife wanted bigger house and they sold me the car for the $$$ for the house !! . . . sold the Duster 1.5 yrs ago, and have not missed it ! I have my 70 Sport Satellite to play with (along with a few others).

Over the years have had some cool, orphan, mopars that most did not pay huge $$ for - I think I pretty much broke even. Fast forward to today, and retirement looming in 11 years (or sooner - I hope) . . . but really want to pay off the mortgage before I retire - probably will sell off a few cars (have the 70 Sport Satellite, 04 Xfire, 06 Magnum, 64 Falcon ragtop, and a few more) . . .

For me, the hobby has allowed me to meet some awesome people who I can call friends ! So going to the car shows, is more a social thing than car thing. Really doesn't matter what I drive, so long as I can see all these great people !!! . . . but, am pretty sure I will always have some old car to putter around on, and enjoy driving . . . .

Everyone's situation is different, along with what is important to them. Just have to figure out what you feel is important in your life, and then act accordingly !! . . .

Happy New Year To all !!!!

Cheers

Mark


Attachments
Satellite Leth May 2013.jpg

Satellite2 Leth May 2013.jpg



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#2426557 - 12/31/17 03:22 PM Re: Did you ever liquidate to improve your situation? [Re: a12rag]
pittsburghracer Offline
Slowride

Registered: 02/02/05
Posts: 12170
Loc: PA.
I had my house and shop for sale during my Divorce in 1998 and after getting talked into it by my listing agent and local bank I refinanced my house and Bought out my retirement, 401K, and house equity, and I am still happy in the same house since 1984. I still have a few low interest loans (2.74 percent ) and a school loan for my son to pay-off yet. I retired in 2010 on a 33 year pension and hopefully will begin collecting 70% of my Social Security when I turn 62 in march of 2018. Looking forward to the raise in monthly pay.
_________________________
1970 Duster
Edelbrock headed 408
6.143@110.89 mph
9.73@135.05 mph shifting at 6700 RPM
422 Indy headed small block
6.001@113.27mph
9.44@138.23

Untitled by John Cadamore, on Flickr





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#2426718 - 12/31/17 06:59 PM Re: Did you ever liquidate to improve your situation? [Re: Grizzly]
OhioMopar Online   content
master

Registered: 08/17/03
Posts: 7632
Loc: Mt.Gilead, Ohio
Originally Posted By Grizzly
"Did you ever liquidate to improve your situation? "

No.

Why would you have to? Use your rainy day savings to improve your situation.

Rainy day savings? What are these things you speak of?

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#2426721 - 12/31/17 07:04 PM Re: Did you ever liquidate to improve your situation? [Re: Trulyvintage]
OhioMopar Online   content
master

Registered: 08/17/03
Posts: 7632
Loc: Mt.Gilead, Ohio
Originally Posted By Trulyvintage
Going thru a Divorce will answer that for most guys.

Marriage again to the same woman almost immediately after that
and a second divorce will further Educate.

I have lived on next to nothing for so long now
it has become a way of life.

I have learned what you truly value has no price and cannot be taken from you.


Jim drive

The divorce made me dump my long term R/T project. It also taught me to not try to make everything perfect when it's the only muscle car you have to enjoy!

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#2426722 - 12/31/17 07:04 PM Re: Did you ever liquidate to improve your situation? [Re: EV2Bird]
OhioMopar Online   content
master

Registered: 08/17/03
Posts: 7632
Loc: Mt.Gilead, Ohio
Originally Posted By EV2Bird
If you leave your car sit, it costs nothing to keep. If you sell it off now figure 2x or better to get back to where you were.

I have zero debt but still go by if I dont put money into my mopars unless I sell off some stashed parts or maybe one day a car or two. But when I do sell off parts its a 70/30 split with the 70% going back into my habit and %30 gets banked.

Good luck whatever you do.

Good points as well.

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#2426725 - 12/31/17 07:07 PM Re: Did you ever liquidate to improve your situation? [Re: OhioMopar]
amxautox Offline
Still Retired. Still Posting on Moparts. A Lot.

Registered: 05/13/03
Posts: 96122
Loc: On The Boat, On The Lake, Wa. ...
Originally Posted By OhioMopar
Originally Posted By Grizzly
"Did you ever liquidate to improve your situation? "

No.

Why would you have to? Use your rainy day savings to improve your situation.

Rainy day savings? What are these things you speak of?
Too many rainy days here. Not enough savings.
_________________________
Tom

"Everyone should believe in something; I believe I'll go fishing."

-Henry David Thoreau

Men and fish are alike. They both get into trouble when they open their mouths

author unknown


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#2426726 - 12/31/17 07:07 PM Re: Did you ever liquidate to improve your situation? [Re: BSB67]
OhioMopar Online   content
master

Registered: 08/17/03
Posts: 7632
Loc: Mt.Gilead, Ohio
Originally Posted By BSB67
No, I have not.

A decision only you can make. Probably 10 aspects that you need to weigh based on you personal situation and priorities.

I do think what would you do with the money is a key question.

Personally, I'm not a big fan of paying off low interest debt. If I was to liquidate, I would use the money to make money.

Only 10 aspects would be great. Lol.
Then money would only be used to improve my situation. If it were more dire, this would be a no-brainer. But this is just merely do I want to keep going with limited fall-back options, or liquidate and have more fall-back options.

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#2426727 - 12/31/17 07:08 PM Re: Did you ever liquidate to improve your situation? [Re: OhioMopar]
Alaskan_TA Offline
Fluffy Balladeer

Registered: 01/20/03
Posts: 26148
Loc: Still moving in.
Not everyone has savings.

I did.

I also had income from a rental property.

Broken back in 2003, renters not paying rent, property payments, could not work due to the injury.

Full coverage health insurance that was evidently not really 'full'.

The part they did not pay was close to 120K & I was not able to work for 3 months.

It was devastating financially.

It took 11 years to wipe the debt out, but I did it.

Sometimes, life throws stuff at us & we gotta do what we gotta do.

Every set of circumstances is different.

I do miss the T/A though........

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#2426741 - 12/31/17 07:15 PM Re: Did you ever liquidate to improve your situation? [Re: 2boltmain]
OhioMopar Online   content
master

Registered: 08/17/03
Posts: 7632
Loc: Mt.Gilead, Ohio
Originally Posted By 2boltmain
You own 1 muscle car? I would not sell unless your health-home-back taxes depended on it. If you own more than one I say by all means cut back. As we get older most of us find it easier financially and physically to put our resources toward one beloved classic.

I only own one true muscle car. The other one is something anyone with a credit score or a down payment can get. But it is comfy.
_________________________

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#2426745 - 12/31/17 07:18 PM Re: Did you ever liquidate to improve your situation? [Re: not_a_charger]
OhioMopar Online   content
master

Registered: 08/17/03
Posts: 7632
Loc: Mt.Gilead, Ohio
Originally Posted By not_a_charger
I've been fortunate enough that I've not HAD to do so...but that's because I work for one of those horrible, scumbag insurance companies, and my wife is a public school teacher, so we're getting fat and happy on the public's dime, according to the Moparts "You are overpaid/underworked, and I am underpaid/overworked" crowd. boogie

I've chosen to sell some stuff in order to keep things stress-free financially. Tuition, college savings, retirement savings, etc...are all more important to us than having multiple toys. My only debt is my mortgage, and it's so cheap that it's not worth paying off right now. I still have my 78 Trans Am and my 82 F250, and my wife still has her 64 Valiant convertible. We've contemplated selling the TA and the Valiant, but haven't decided. I'm probably done with the Mopar muscle car scene, and the Mopar scene in general, though if a screaming deal on a cool car fell into my lap, I'd consider it.

I thought about buying a Scat Pack Challenger, or a Lebanon Ford 727HP Mustang, but can't bring myself to pull the trigger and spend that much money on a car that I will only drive 6 months out of the year. If I were struggling financially, I'd sell whatever possessions I needed to without hesitation. Family comes first. It would certainly be hard to part with some things, but if it had to be done, it would be done.

You also have that huge moderator paycheck coming in. So that has to count for somthing...

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#2426747 - 12/31/17 07:21 PM Re: Did you ever liquidate to improve your situation? [Re: tboomer]
OhioMopar Online   content
master

Registered: 08/17/03
Posts: 7632
Loc: Mt.Gilead, Ohio
Originally Posted By tboomer
Hmmmm..We don't need to sell anything but as me and the wife get older we have been talking about a new ranch style home. My pride and joy is my 64 Dodge 330 sedan that started out as a low 12.00 bracket car and is now low tens. The Docs won't let me drive it anymore and if I sold it that money would go a long ways to a new basement and if I sold my current split foyer we could pay cash for a new home in the country. work

Any chance to put the 30 back on the street detuned?

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#2426752 - 12/31/17 07:26 PM Re: Did you ever liquidate to improve your situation? [Re: Superfreak]
OhioMopar Online   content
master

Registered: 08/17/03
Posts: 7632
Loc: Mt.Gilead, Ohio
Originally Posted By Superfreak
Selling everything off to start new means you will be spending money right off the hop to get the necessities so how far ahead would you really be by selling the bee. I remember you saying it was/is your dream car. I would keep the car and do what it takes to improve your situation to where you can be comfortable. Unfortunately a lot of people get caught up in the idea that they have to keep up with the Jones's and things can get out of hand. Everyone's situation changes at one time or another and choices must be made. Best of luck with your decision and best wishes for the new year.

It has become my dream car since owning it. It was supposed to be B5/B7. But after having it for a while, and seeing how many B5 cars are out there, I like the uniqueness of it being black. I wouldn't like getting rid of it, but there are worse things in life than being without a car. I am just not experiencing any of those right now! Lol.

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#2426757 - 12/31/17 07:29 PM Re: Did you ever liquidate to improve your situation? [Re: OhioMopar]
cudaman1969 Offline
master

Registered: 01/25/04
Posts: 3872
Loc: fredericksburg,va
"It also taught me to not try to make everything perfect when it's the only muscle car you have to enjoy! "
This is what I'm thinking also, a guy said years ago, it's still cool to everybody no matter what it looks like. Just drive it.

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#2426758 - 12/31/17 07:30 PM Re: Did you ever liquidate to improve your situation? [Re: fourgearsavoy]
OhioMopar Online   content
master

Registered: 08/17/03
Posts: 7632
Loc: Mt.Gilead, Ohio
Originally Posted By fourgearsavoy
Well over the past few years medical bills and hospital stays have pretty much depleted whatever savings we had. So now I work my azz off at a flat rate technician job just to keep a cushion in the bank.
I still rely on building the occasional engine or transmission on the side to keep my old Savoy going. I could probably sell my Savoy and put a good chunk of money back in savings but I only have the one car and it makes me smile when I drive it.
If it came down to a roof over my head or a car in the garage the car would have to go. My wife calls the Savoy our retirement money and she's right because I'm never going to put an automatic in it so I'll drive it till I cant push the clutch anymore biggrin

I know I would regret selling my Savoy because it has become part of my identity twocents

Gus beer

You have a great car for sure. Of course you wouldn't put an automatic in it. That is reserved for the guys who try to take the least talented route to racing. grin

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#2426762 - 12/31/17 07:32 PM Re: Did you ever liquidate to improve your situation? [Re: cudaman1969]
OhioMopar Online   content
master

Registered: 08/17/03
Posts: 7632
Loc: Mt.Gilead, Ohio
Originally Posted By cudaman1969
"It also taught me to not try to make everything perfect when it's the only muscle car you have to enjoy! "
This is what I'm thinking also, a guy said years ago, it's still cool to everybody no matter what it looks like. Just drive it.

I have enjoyed it a lot in its rough state. I could do without the whole "smell like exhaust every time I drive it" thing, but I can work through that without tearing every nut and bolt out of it.

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#2426767 - 12/31/17 07:37 PM Re: Did you ever liquidate to improve your situation? [Re: moparpollack]
OhioMopar Online   content
master

Registered: 08/17/03
Posts: 7632
Loc: Mt.Gilead, Ohio
Originally Posted By moparpollack
Thinned the heard almost 2 years ago to move to Phoenix. Still have toys and just getting back to where I was 2 years ago. The new shop was 3 times as expensive as the old one. The super expensive shop was something I hadn't planned on but living in tornado alley wasn't where I wanted to be. It was worth it in the end as it's 16 degrees and OKC and 55 out here in Phoenix! boogie

Finishing the new shop would make things much easier for me. I have the ability to supplement my income out of the garage.


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