401k lt1
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Melting Slicks
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From: McCloud CA
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401k lt1
I was looking at my 401K and thinking it really wasn't doing very well I'm at the age that I can use it and not be penalized. So I decided to complete the trilogy[ C1 C2 C3] so I purchased A Top flight 72 LT1. The car just got to my house on sunday and WOW it is every thing the guy said it was and then some. It has 68000 original miles with a full correct restoration. This car is an investment but I would like to enjoy it some. My question is how much can I drive it and not really kill the value of it. And I mean not beating on it.
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Apr 2, 2019, 11:31 AM
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At 59 1/2 you can at your option make a withdrawal. At 70 1/2 you must take a withdrawal. This is the governments way of telling you that death is around the corner. I subscribe to the belief that dying penniless is a sign of a perfect budget. Apparently, so does Reno.
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I don’t think we can properly answer the question without complete pictures.
My real answer is that these cars are meant to be driven. Reasonable miles are expected and encouraged!
My real answer is that these cars are meant to be driven. Reasonable miles are expected and encouraged!
Le Mans Master
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From: Temple Terrace Florida
Congrats on the new purchase. My feeling is to drive the wheels off the car and not worry about the resale. I always thought that not driving the car is like not sleeping with your wife so she will be tight for the next guy after you are gone. 
Enjoy the car. Jerry
Enjoy the car. Jerry
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Not a bad idea....Drive it and don't worry about it...Congratulations!
Dcamick
Dcamick
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Melting Slicks
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From: McCloud CA
C2 of Year Finalist (appearance mods) 2019
Thread Starter
Melting Slicks
Joined: Apr 2013
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From: McCloud CA
C2 of Year Finalist (appearance mods) 2019
Melting Slicks
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From: Dadeville AL
I bought a 72 LT1 used in 1973. It is still one of my all time favorites. I'm sure you'll enjoy your's too. .... As for driving it? I've owned my 63 coupe for 40+ years and it ages and needs attention whether I drive it or not. So I drive it when the weather is good and the parking is acceptable. I don't impose any limits on too much or too little.
BTW, if memory serves me right my LT1 had a dual points distributor and a 7,000 RPM redline. A new set of points would last about six months of daily driving before the points would start to float. A dwell tach was my frequent companion. I also recall that at full throttle that engine felt like any other small block until around 4,000 RPM. Then it sprang to life. As a young man I spent a lot of time looking for reasons to keep the revs above 4000.
BTW, if memory serves me right my LT1 had a dual points distributor and a 7,000 RPM redline. A new set of points would last about six months of daily driving before the points would start to float. A dwell tach was my frequent companion. I also recall that at full throttle that engine felt like any other small block until around 4,000 RPM. Then it sprang to life. As a young man I spent a lot of time looking for reasons to keep the revs above 4000.
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The guy cashed in his 401K to buy a C3. He'd better be concerned about resale... isn't that the point of the thread?
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At 59 1/2 you can at your option make a withdrawal. At 70 1/2 you must take a withdrawal. This is the governments way of telling you that death is around the corner. I subscribe to the belief that dying penniless is a sign of a perfect budget. Apparently, so does Reno.
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Melting Slicks
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From: McCloud CA
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And the last check I write will be a rubber one preferably to the IRS
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From: CT
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Melting Slicks
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Le Mans Master
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From: eastern NC
Team Owner
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St. Jude Donor '05
WHo cares, he is enjoying life, cant take it with ya!!
At 68k and being restored go put a bazillion miles on it....they arent making any more of them and long as its in good shape dont think it matters.
That one has sat around long enough;kinda fun driving a brand new "old" car in todays day and age.
Get bummed when I take mine out and see nothing older on the road than 5-10 yrs old..ever. No wonder younger people arent interested, they probably never even seen one.
At 68k and being restored go put a bazillion miles on it....they arent making any more of them and long as its in good shape dont think it matters.
That one has sat around long enough;kinda fun driving a brand new "old" car in todays day and age.
Get bummed when I take mine out and see nothing older on the road than 5-10 yrs old..ever. No wonder younger people arent interested, they probably never even seen one.
Last edited by cv67; Apr 2, 2019 at 03:01 PM.
Drifting
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From: New Baltimore Michigan
How much less would you have paid for an all original car, all restored with 78,000 miles vs the 68,000 miles it has now? I dont think that will change the value much, and I'd be willing to bet that the longer you own this car, the nicer it will get.
Drifting
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From: LA-LOWER ALABAMA
Means I had a better than balanced budget
Last edited by smacota1; Apr 2, 2019 at 03:49 PM.
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Reno, a terrific looking car, with a great color combination!
I have a red '73 convertible with black interior, there's is just something about the shape of the shark convertible that seems timeless... to me.
Good luck... GUSTO
I have a red '73 convertible with black interior, there's is just something about the shape of the shark convertible that seems timeless... to me.
Good luck... GUSTO