Many times, the purchase of a "hobby" car is based purely on EMOTION. And those that buy a $5000 for $5K (or more) and then dump another $10K into it, just because of EMOTION, have 'cast their lot'. If they ever would try to sell the car, it would bring....$5K.

I tend to purchase based on EMOTION and some measure of common sense. Knowing I'm going to put some money into the car, in addition to the initial purchase price, I look for a car that will be desirable [enough] to the masses that I won't get burnt, should I choose to sell later.

So, while paying top dollar for a '74 that still needs a significant amount of work, someone else might be happy with that choice. I would not. But, those 'differences' are what makes the world go 'round....

 

Maybe you should spend the money you saved by NOT over spending on your own car, by investing in some reading lessons.
The original post was asking as to the amount of money other forum members had spent on their own cars, not asking your opinion on whether or not it made financial sense for him to spend the money he has.
If you are not in this to make money, collector cars are bought 99% of the time with the heart, not the head and the sh*t eating grin when you drive it is worth the slightly empty wallet.

 

There's so many different parts and systems to these cars, and many 'while you're in there' upgrades too. I currently have $26k in my mostly restored '70. The little pieces will eat you alive. I imagine it would be worth $20k if I were to sell it, with extra points for the desireable year/model/options and a few minuses for aftermarket touches (L88 hood, vintage air, Borgeson, Dewitt's radiator/electric fans, etc. But i felt those modifications will make for a better driving experience while I have it. I could have bought a done car for the same money I'm sure, but this one will be just how I want after it's completed. And it sure makes for good conversation when I'm out driving it.

 

If you don't have any emotion involved with old cars it's just an investment. Try the stock market instead.

 

You are absolutely right! Nothing wrong whatsoever with your logic, but man, if that was applied to our Corvette world, there sure would be a lot less C3 'Vettes alive then there are now! I think it's great that you can balance your emotion with your logic and apply that to a purchasing decision, but it's not always that easy.

This kid here, buying the 68' Vert did it out of pure emotion! He may be but we gotta love him for it! Just looking at the pics, we know damn well, he's going to sink a ton of dough into this thing and I'm betting it's going to be at least 150% to 200% of what he could've brought a restored car for!

http://forums.corvetteforum.com/c3-g...n-project.html

He's been looking at that thing, sitting in the yard for ten years and now he's going to attempt to restore it! And we're stoked, because he's going to sweat, cuss and pour way too much money into this thing, ask us a million questions, learn a ton of stuff and when he's done, we're going to have another blue 68' Corvette Convertible running around and that's what it's all about!

I looked at thousands of CL ads and when I saw my 74', I knew, that was MY Corvette! It beckoned to me from the ad: "Hey glad you finally found me! We're going to have some great old times, I guarantee it" And you know what, that was a poor purchase decision too, I knew that going in, but guess what, the 74' was right on. We took it from a coughing, spitting POS to smooth running little puppy in the space of a few days. It had no dash, but when I took it out, man, was it stoked! We had an instant bonding and that car loves me and I in turn love it.

 

yea, I know... more than its worth..... but i love racing it, and it is a highly modified car. I will never sale it, it will go to my oldest son...... around $30,000 to date, not including the car..., but I'm almost completely done!!! nearly $13,000 in engine and transmission alone... then there are brakes, suspension, everything in the interior, paint, tires and wheels ($4k) ..... it just keeps going... but i dont really care, cars are my sons and I hobby, and Oxana (my wife) supports it fully...its a hobby... and hobbies cost money.


my reasoning? imho the C3 is the most amazing body style of all time... sexy as a beautiful woman.... and I like beating down new C6 ZO6's!!!:woo hoo:
the look on there faces is priceless!

I remember after one track race one of the C6 guys told me "nothing on that C3 is stock except the body!! I bet your a-arms aren't even stock!!" it was a good day. ;-)

 

Like I said...our differences are what makes the world go 'round.

Yes, the OP asked how much we had in our cars. But, I didn't think he was merely looking at the dollars we spent, but also the reasons we spent that amount on our cars. So, I provided my "rationale"...thinking that it might be useful to others who read through this thread BEFORE they go looking for a C3.

Some folks might get 'addicted' or obsessed with making a "silk purse out of a sow's ear" and be very happy with that. [Although, I suspect that most who have done that aren't really that happy, looking back on it.] But, this thread can be very useful to others if it provides all viewpoints of how folks have dealt with their C3 "hobby". It was not my intent to rustle any 'feathers'.

 

Seems I've spent most of my money on fast cars AND hungry women...
The rest I just wasted.

 

I don't think you ruffled any feathers.I think people who buy cars and expect not to lose money on them are called car dealers.
I agree with you in that I tend to buy cars that I think have a good market if I were to sell,but I still don't expect to sell for more than I have in them.
I have made a profit on selling these old cars before but I have also lost money on others.
I do it for the fun and whatever happens when I sell it is just fine with me.If it wasn't,I would find a new hobby.

 

Over the past 6 years... I have probably put between $10 - 15k into my 75. It's Worth It! Just for the fun I have had owning/driving/showing her is worth every penny.

I call her "My Mistress", the wife calls her "The Bitch".

 

Glad you feel good about your purchase. You must be a very good negotiator to pay only 50 cents on a dollar.

Why would anyone buy a two seater when there is not enough room in a SUV?
Answer: Just because!
These Corvettes are just toys, just like anything in life toys cost money.

 

I paid over $13K for my used '76. Over the last 24 years of ownership I've spent ~$15K in parts, upgrades, etc but saved thousands in labour as a DIY'er. It's worth about $10K now, maybe. But I don't need to worry about that because the car is a keeper. Maybe I'll get buried in it? Nah, it'll be my loss and someone else's gain but I'll be too dead to worry about it. Yep, I'm an enthusiast alright!

 

Let's just say that whatever I thought I would spend...it ended up being a helluva lot more. The trouble is, I ain't nowhere near being done. Hey...are we all having fun yet...or what?