Should I Buy Another Car?

[Calais]

So I've gotten word of an extremely cheap car, a 1973 Ford Gran Torino for $3000. It's supposed to be in excellent condition, and white!!! I don't know all the details and I don't really know the likelihood of this happening, but I'm definitely interested.

I find it difficult to afford the insurance and gas on my 1979 Cutlass Calais, but I can get the Torino on classic insurance and pay only a few hundred dollars per year. I need to find a way to get the $3000, though I think I may be able to swing it. As a result my funds reserved for improvements on the Cutlass will dwindle. I had originally intended to buy an everyday car and put the Olds away but if I get the Torino I may end up using the Cutlass as a DD.

I'm in a tizzy, what to do? Any advice guys?

[Eddie6th]

Re: Should I Buy Another Car?

Sounds like a nice model!

If you put the GranTorino with classic insurance,is it possible where you are,to put the calais on an insurance deal where you phone and insure whenever you want to use it?My freind does that here and saves a lot of money.

[ClearlyCoated]

Re: Should I Buy Another Car?

The Starsky and Hutch-mobile?



How could you pass up a classic? By all means, buy that car!

[roushstage2]

Re: Should I Buy Another Car?

Sometimes though, "classic" insurance means you can only drive the car so many miles in a year. Just something to think about and double check as well.

[Andrew C.]

Re: Should I Buy Another Car?

Sometimes though, "classic" insurance means you can only drive the car so many miles in a year. Just something to think about and double check as well.

Yep as roushe said, most of the time you can get classic insurance but the prices vary upon your annual drive miles on the car. Most of the time it is only a few hundred per year if sitting in your garage most of the time.

Go check it out in person and bring a magnet with you. Make sure that the entire car isn't bondo'd together on every panel.

[J. A. Michaels]

Re: Should I Buy Another Car?

I would go for it. If it is in good shape they are few and far between. Grab it while you can.

[Nappers]

Re: Should I Buy Another Car?

Gran Torino's were great cars.

If you really like it, get it! But, check out the insurance as Tyler said, hate to have it get damaged and not get covered cause you were driving it too much or not within specs of the insurance!

[Calais]

Re: Should I Buy Another Car?

I know about the insurance: I am going to only really drive it to and from car shows and sparingly every other weekend or so. It will truly be a "fun car", but not for everyday. The best part is that if it ends up impractical or a financial strain Gran Torino's are selling like hotcakes now because they are fresh in everyone's mind from the movie and Starsky and Hutch. I won't have any trouble selling the car, I know most of the show-car/classic car guys in the area. I can put it in the Antique Automobile Association's newsletter free of charge. I can probably even make a quick buck on it too if I do resell.

I made this thread because I wanted an addition opinion on the matter and see if there is something about the situation I'm overlooking.

[Michael Stoops]

Re: Should I Buy Another Car?

In the long run the Torino is probably a better investment than the Calais and if you can pick one up in the condition you describe for that kind of money, go for it. Grundy and Hagerty (among others) offer collector car insurance at very competitive rates and they do NOT have mileage restrictions. In both cases you can get quotes online with no obligation, meaning you can research that aspect of this potential deal very quickly. Do you have someone knowledgeable enough to go over the Torino with a fine tooth comb and make sure it really is a good deal? Getting involved in "hidden" restoration work can get expensive pretty quickly.

Obviously the Calais is your baby..... can you deal with using it as a daily while lavishing your attention on another car?

[Mister B]

Re: Should I Buy Another Car?

Not trying to be rude or anything, but you said you find it hard to afford the insurance and gas on your Cutlass. I don't see how purchasing the Torino will help that situation? You will still have the expense of the Cutlass plus the additional expense of the Torino.

I know everyone can get bit by the bug when they find something they really want. It happens to all of us from time to time here on MOL , but this is a lot more expensive than a bottle of wax. Just make sure you think it through completely before you dive in.

It would be a nice car if it is in good shaoe though.

Good luck.

[Nappers]

Re: Should I Buy Another Car?

.....Obviously the Calais is your baby..... can you deal with using it as a daily while lavishing your attention on another car?

And how will the Calais feel with another car in the picture?

[Justin A]

Re: Should I Buy Another Car?

Instead of $3000 on something you have to insure and put gas in, why not spend the $3k on This? lol

I don't know...but since you said that you're having difficulty with gas and insurance on one car, why do you think you can afford a second car that's going to need gas and insurance (however cheap)...seems kinda like having a hard time with a credit card and getting another one to pay the first...

[Calais]

Re: Should I Buy Another Car?

In the long run the Torino is probably a better investment than the Calais and if you can pick one up in the condition you describe for that kind of money, go for it. Grundy and Hagerty (among others) offer collector car insurance at very competitive rates and they do NOT have mileage restrictions. In both cases you can get quotes online with no obligation, meaning you can research that aspect of this potential deal very quickly. Do you have someone knowledgeable enough to go over the Torino with a fine tooth comb and make sure it really is a good deal? Getting involved in "hidden" restoration work can get expensive pretty quickly.

Obviously the Calais is your baby..... can you deal with using it as a daily while lavishing your attention on another car?

Torino is an easy resell if it becomes too much to handle. I had heard about Hagerty, my friend has it on his Cadillac Fleetwood and its only an 1989.

I know a bit about checking out cars, but my uncle used to work for Ford during the late 1970's and 1980's and knows all about these kinds of cars; he's gotta come check it out with me.

As it is the Calais is my baby and my daily driver. The Torino will serve as a carshow/weekend car, while the Calais will remain my pampered DD. As a show car it really won't get as much attention as my Calais, an all out paint correction and bi-weekly maintenance (covered in the meantime).

[Calais]

Re: Should I Buy Another Car?

Not trying to be rude or anything, but you said you find it hard to afford the insurance and gas on your Cutlass. I don't see how purchasing the Torino will help that situation? You will still have the expense of the Cutlass plus the additional expense of the Torino.

I know everyone can get bit by the bug when they find something they really want. It happens to all of us from time to time here on MOL , but this is a lot more expensive than a bottle of wax. Just make sure you think it through completely before you dive in.

It would be a nice car if it is in good shape though.

Good luck.

Long-term, I find myself working a lot and having very little money left over after insurance, gas and a detailing product here and there. With the Torino, I can pay off the insurance once (during the summer when I work more) and not worry about insurance, hardly drive it so gas will not be too expensive.

That is part of why I made this thread; I talked it over with my parents and they aren't thrilled with it, but aren't adamantly against it either. I wanted to get some insight from other people who may have been in the same position or have some ideas about this kind of thing. I know its kind of a balls-to-the-wall, spur of the moment decision but thats how good classic car purchases seem to made, it seems.

[roushstage2]

Re: Should I Buy Another Car?

I was going to get Hagerty on my Roush, but I can't afford the "all at once" payment. I do know someone who has it on a few older Porsches and likes it a lot.