Would you sell this mint 66 Fastback (pics included) for the new GT500?

[Rock36]

Not to be overly harsh, but your wife is being extremely short-sighted.

She's thinking of your '66 GT as just a car. You both are totally discounting and ignoring what the '66 GT has done for you as a long-term investment. You're both ignoring the fact that it's making more money for you, sitting in your garage and driving that 500 miles a year, than cash would make in a high-yield money market or investment account.

Don't get caught up in the "oh, we've got too many cars" cliche'. That only applies when you've got too many NEW cars hanging around, costing you insurance, and costing you depreciation...

Your '66 is making money just sitting there, and the market is not showing any signs of slowing down. Keep it, you can have your cake and eat it too, because...

The amount your '66 increases in value each year, is more than enough to pay the INTEREST on the money you finance on the GT500, which in effect, means you ARE paying cash when you keep the '66. You can consider it 0% financing, by applying the appreciation of the '66 to the GT500 payment.

I'm just doing sloppy math in my head, assuming that you do have $15-20K to put down on the GT500 in the first place.

If you did sell your '66, I'd take 100% of that revenue and put it back somewhere where it'll continue to make money, sharp investments, another collector car, anything.

You need to treat your '66 GT as a retirement account, not as a car, and get over the "stigma" of it being a car, which the ladies sometimes very unwisely just discount as "toys", not realizing that they are lucrative toys to have.

+1 Very well said

This is magnified by the fact that GT500s are selling well over MSRP right now. If you got one now and paid $50K+ you would be hopelessly upside down in it when the car reaches MSRP in a year or so. Even if you pay cash for it, you still paid $10K too much for it. The GT500 will probably be a classic someday too, but only if you wait a few decades, keep it pristine, and only drive it 500 miles a year....just like your 66.

 

[blacksheep06]

I think you just need to lay down the law, the mrs. doesn't understand the program here LOL. You say you can afford to own both, enough said. One car is a collector's item the other is basically a daily driver, it's apples and oranges.

I say make a compromise with your wife, keep the 66 and wait until the dealer mark up wears off and you can pick one up for MSRP, that way you get both and save 20 grand, everybody wins

 

[SVTMustangMan]

Be the man of your household and get both.