I am an honest guy in search of some honest advice. What would you guys do with the following situation.

I was a Senoir Systems Software Engineer for a major defense contractor when I purchased my '72 convertable and made very good money. I paid $12,000 when I bought it 7 years ago which was way too much for the mechanical P.O.S. which I had purchased. Every part of this car was worn out or rusted. I spent years of money, blood, sweat and tears replacing everything I could get my hands on (check my signature).

I woke up in the hospital one day and my life ended when my Cardioligist said I could not work anymore. It seems that our family genes make crummy hearts. My late Mother and Brother found that out last year. By the way, I am 46 years old and this has all happened way to soon.

The car is now up on jacks in the garage. I was driving the car when I could until the EFI fuel pump went bad which is more than my now Social Security income can handle. I now have hopes of pulling the body to replace the fuel lines and fuel pump. I have nothing but time until my time comes but I have only a few days a week that I have the energy to get around and do any work on the car. I am trying to do work that doesn't cost anything and do it when I have the energy to get to the garage.

I don't want to give up this car and hope to pass it to my oldest someday who is now 15. I am not joking when I say I have at least $35,000 to $40,000 in the car now. I have already restored everything I could with the body on and would like to pull the body to finish the job and replace the frame rails and #2,#3 mounts which don't look very good.

I did a bill consolidation against the car a few years ago (when I still had a career) and still owe about $8,000. It would be sickening to let go 7 years of work, blood, sweat and tears as well as the money invested for $8.000. The payments are hard to handle but loosing the car would be devastating.

What would you guys do in this situation? Although the car does not mean to me what it did (for obvious reasons) I do hope that my children can someday enjoy the fruits of my labor even if I am not here anymore to enjoy it with them.

 

God bless you, keep working at it as long as you can.
Have a safe and happy new year. :seeya :chevy :seeya

 

First of all I would like to say I am sorry about your health and carreer situation. That has to suck. If I were in your shoes I would Put my oldest on the car. You did not say son or daughter but that should not matter. I would be sitting in the garage every chance I had coaching the body coming off. I would have the AIM manual in one hand and a cold beer in the other. 15 is a good year to start learning resto on a car especially if you are planning to pass the car down. As far as making the note payments I can't help you there I have no experience as a financial consultant I lost enough money in the stock market last year to pay your note off.

I am sure if you and your 15 year old run into problems your questions will be answered here. Good Luck and I hope everything works out for you. My prayers are with you.
Bob

 

VetteNut72...

Life is definitely not fair. I wish I could give you some inspiration as to what to do, but we all take our own paths in this short lived area to our ultimate destiny. What one of us would do, another would not. My whole family is a walking cancer case just waiting to happen with only two members from my Grandparents on down who has not had the disease. One of them was my Grandfather on my mother's side & the other one is me. I don't want to know when I join the group. It's my choice that my family disagrees with, but I refuse to live in a shell waiting for what is probably going to happen anyway. Like you... I intend to see this Vette on the streets/strip the way I want it no matter what $$$ I go through. Ten years from now I might not be around to enjoy it.

I wish you peace in your own answers...

Barry

 

Vettenut

Sorry to hear about your health problems.

I think it is time for a family sitdown. You did not say if your 15 year old was as excited about the car as you are. It sounds like a monster car for a first car for a teenager, I know I wrecked my first car.

If the teenager is interested in the car, then you need to explain the burden the payments are on the family. Possibly time for a job at Big Macs.

I would only do what is neccesary to make the car road ready and safe. If your teen wants the car, you could do a want list and let them start working on it.

This is just my opinion, hope it helps.

Terry

 

This is a tough decision to make and it shouldn't be made in haste. If you need to sell the car for the sake of money, than it has to be. I wouldn't do anything with it at this time and tend to your health first. It would be great if your child would be enthusiastic about such a project but as mentioned before there may not be that connection to the car as you have. Young kids are usually interested in now trends. That is why you see so many ricers on the road these days. This is not a bad thing but something we all need to understand. The car will be a classic soon and it may have future value even if it sits for awhile. I have a young 24 yr old at home that loves the vette but would be totally overwhelmed if it was his burden. He is not a mechanic & would have to have the car serviced for anything that went wrong with it. These cars need to be owned by people who love to tinker with cars and don't mind getting greasy. Theyre not for everyone. Take your time in deciding what to do with it. I don't know how serious your health problem is but also keep in mind that things can also get better. Keep the faith & God bless.

 

It is a bummer that you might have to give up the Corvette, but in the end, if it's a choice between making life easier for your family financially and handing down a the car...Well, it should be a no brainer.

I can see where you are coming from. My Vette is in the garage awaiting it's turn, but I recently took a pay cut at work and the other projects I have been working on are being sold off. I have been building a GT-2 Datsun 240Z race car to campain in conference racing and let me tell you that I am taking it in the shorts as I sell the parts.

But in the end, I need to square the family before I work on the '72. It is my final toy and I think I might have to let that go, but it will pay off the final bills and leave me and my family with some breathing room. I have diabetes and it is chewing on me little by little, so I mean to have my kids and wife in good sorts before I start another project.

Sorry to say, in the end, its just a car.

Mike

 

Well said!
Todd

 

Thank you everyone for the kind words and advice. I have two sons and the oldest is just starting to think about cars and driving. Right now all he wants to do is play guitar which is great. I started playing when I was 5 years old and I am happy with his progress and his interest. We talked about working on the car together and he seems to be interested so we will give that a try this year.

Happy New Year Everyone !!

 

Sorry to hear about the health problems and the situation.

Personally, hold on to the car as long as possible. Easy to say, but I will do the same with mine until the option is no longer a choice. The loss of the car sounds to me as it would be more devasting then the stress of keeping the payments up. It is also a part of you. It will make it highly valuable to your sons in the future. This is not just a cool car you bought, but rather a piece of your life immortilized by a passion.

Additionally, while free time doesn't exist in my world with a 3 year old and I am no mechanic, I am up the road from you (Oro Valley), and help is available.

Use the resources around you.


Happy New Year

 

Quote:
_____
This is not just a cool car you bought, but rather a piece of your life immortilized by a passion.
_____

Robert,

Thank you for understanding and summing it all up. It's support like this that helps keep me going and means more to me than you could know.

Craig

 

Sounds as if you are not doing to hot there my friend.
This is Ken with the Yeller 81 . I can offer a little help if you need it no Money but Physical labor . I am kinda slow but steady .
Hate to see you lose that AWESOME car it sounds so good when you leave the Sonic Burger and get on it.
If you want some help and if I can provide it give me a call at 807-1947
Later and good LUCK
Ken :steering:

 

Good luck my Friend and as stated above, get one of your sons involved. It will show them the value of the mighty $$$$ and also some work ethic if you can get one or both of them to help physically and/or financially. It will hopefully keep them away from this RICE :crazy: craze that is sucking up and spitting out our youth, also and give the appreciation of real performance cars.
John