When I finish restoring my 1968 GT/CS I will probably have more invested in it than its current market value but have no intention of selling it anytime soon.

Do you have more invested in your GT/CS or HCS than its worth on the open market?

If you did a full restoration you likely have more money in it that it would be worth if the market did not correct ;) Its real easy, depending on what you started with, for the costs to outweigh the value on old cars, but then again investment and restoring should rarely be used together IMHO. Know plenty of the Shelby guys with $200K+ in $100-140K cars.

Currently I'm right side up in 10 or so cars...... but then again none are what I could consider to be restored condition.


What may be more bothersome for most, is not being able to insure your car for what you have in it :undecided

If you did a full restoration you likely have more money in it that it would be worth if the market did not correct ;) Its real easy, depending on what you started with, for the costs to outweigh the value on old cars, but then again investment and restoring should rarely be used together IMHO. Know plenty of the Shelby guys with $200K+ in $100-140K cars.

Currently I'm right side up in 10 or so cars...... but then again none are what I could consider to be restored condition.


What may be more bothersome for most, is not being able to insure your car for what you have in it :undecided

Good point Jeff!! Unable to insure car for what you have in it!!

My insurer only asked me for the receipts for my car purchase and restoration expenses. The file was 4 inches thick, but they agreed to insure it for what I had in it.

When considering the money put into a project and how much it is worth...

here is my scenario

3rd Engine...total of all spent 15k at least
5th Transmission overhall...total of 7k at least
Ford 9 inch...2k
Stereo....2k
Vinyl top $500
Brakes front and rear....$2500
Alum Radiator $500
Traction bars and suspension(replaced 3 times)...$2k at least
Slicks and racing equipment...$1000
Rims and Tires.....$2k
Body Shop Invoices.....$10k easy
Car bought for $10k

That totals $54k and that doesnt include at least $2k i spent getting all the working Air Conditioning parts and labor for getting it "working"

I've easily spent over $50k on my car...but alot of that money was wasted in the destroyed engine, destroyed transmissions, worn out shifter, etc etc the list goes on...

There is probably another $50k to spend on the car before im "done" with it too.

Can't sell it for the money in it. Although i think it would be foolish to not give up the car if someone is offering $40000-$50000, right?

...Seeing that I acquired mine for driving over collecting, it's anyone's guess whether or not they will yield a greater return on investment. Operating costs, maintenance and repair (although not nearly as dramatic as David's) combined with today's trend of falling prices indicates "no". Should they go the way of the Shelby in the future and be more sought after as trailer queens - then it will be time to sell.

I bought my CSs (not as projects) to capitalize on their unique appearance and driving afford-ability (for the time) with hopes of realizing a return on investment sometime in the future.

IMO, the folks who are in the best shape (investment wise) are those who bought nice cars in the '80s & '90s for $5K to 10K and have maintained & perfected them accordingly...

Bought my CS in the early 80's with a fresh paint job for under 4K. I had the interior all redone in the mid 80's. Needs a restoration now, paint is faded and the front seats are in need of a redo but the kids could care less, we have a blast taking it out to the ball games and just having fun. I reached a position that I could start a restore and actually decided against it so I could continue playing with it with less concern until my youngest reaches a little more mature age.

I'm certainly not upside down on value at this point, may be in the future.

Cory

All I'll say is
"yes"

I'm probably close. I'm in mine $25K. I'm pretty sure I could get that from the right person.

Steve

Hagerty will insure it for whatever you want. You just have to pay the higher premium for the higher worth.

www.hagerty.com

I'm into mine @ about $22K+/-. I bought it about 2 years ago, added several features for my own preferences. The crunched fender repair will cost me another $1,000 when all is said & done.
I don't really buy a Mustang with profit in mind. I just like to re-do what is necessary, and upgrade as I choose. Then I drive it & enjoy it. Sooner or later someone else sees & likes my handiwork, and offers enough $$$ to entice me to sell it. Then I get another, re-do it, and the cycle starts all over again. I only do '68's as that is my year/model of choice. I've never lost $$$ on any Mustang I've ever had - just thankful that I have a hobby that pays for itself. Most hobbies are cost - no return.
This is my FIRST C/S, although I had many '68's over the years. The 1st C/S I ever saw was 25 years ago, and I just blew it off as some advertising quirk, not realizing the rarity & history. I suppose that if somone "made me an offer I couldn't refuse", I'd sell it. But I'd find another one in need of rescue and do it all over again!! Can't do the full bore/rotisserie route or frame work I used to be able to do (time marches on!), but I've still got a few turns of wrenches left in me:wink: .

Neil

Hagerty will insure it for whatever you want. You just have to pay the higher premium for the higher worth.

www.hagerty.com

Has anyone (or knows anyone) that has collected on a total loss when the stated value exceeded replacement/market value?

I've yet to see that. Did ask my insure what they thought would happen. Their answer was that we would pay you what the car was worth. Sounds like lawyers again :( Did ask one company about ten years ago what would happen - they stated they would pay for what it was worth not what I was paying (my stated value) :0


Have a few more months on my collector car insurance (for five cars) Will put the question to them and likely will adjust down - no reason to pay for coverage that I can't get back ;)

I too am not interested in restoring and spending $$ money. I enjoy being able to enjoy and drive my CS for the time being. I also live in a place where it would be hard to have a "cherry" ride but maybe eventually. :wink:

Some people have a little more disposable income to enjoy their passion. (dam david!) :cheesy:

When I am ready to drop some coin into the ride or upgrade the engine or tranny its great to see the resources will be available from the forum. And some that have done it more than once. :tongue:

I have more money in one of my houses than it's worth - just that cycle of life. My feelings are you don't buy these (or any car) for profits that can be madeyou buy them for the love of them. Around 1990 a friend bought a 66 Shelby H for 35K and in 1997 could ostly sell it for 25K - go figure. The dollars amounts may be off a bit but you get the point. Just enjoy and it'll turn out okay - IMHO

Some people have a little more disposable income to enjoy their passion. (dam david!) :cheesy:



Ya I know, its rediculous. The lesson to be learned is... do it right the first time, otherwise you'll just be wasting money.

This is why when people ask me, "do you want to sell it?" i say, "no, but do you have 50 grand?" LoL

But with all the cracks in the paint and with the tears in the bucket seats and old, faded carpet... i don't think anyone would even pay $25k for it.

But it is the "fastest GT/CS on the planet"-PMN haha that makes it PRICELESS

Yes. I have a lot invested in mine and possibly more than it would sell for. However, no issue with getting insurance for what I THINK it is worth.

Paul

" NO ", It is worth more than the $3700 I paid for it new.

I have had lots of folks ask me how much I have invested. My reply - I have no idea and if I were to look at the receipts I'd cry.

Don :eek:

I have had lots of folks ask me how much I have invested. My reply - I have no idea and if I were to look at the receipts I'd cry.

Don :eek:

Happy cry I assume?

Cory ;)

...No,
"Happy" is John MicGilvary who only has to insure his car for $3,700!

;-)

...No,
"Happy" is John MicGilvary who only has to insure his car for $3,700!

;-)

Tim,

I may be "Happy" but my car is insured for alot more than $3700.

To answer the Thread ?. ( Do you have more invested in your GT/CS than its market value ? ) = "NO"

I know John :-) I was making loose reference to what some insurance companies would review as "worth" vs the actual market. I've heard horror stories of some of the hassles people have endured in the past. That's why it may be good to have periodic appraisals performed...

I also know that you are the premier "NO" person on the subject :-))

answer to the original question............

no

I'd guess that I have a ton more money in my HCS CJ than I could get for it. Don't really know, but I thought I paid too much for it at the time I purchased it, and the market is softer now.

Scott

When I finish restoring my 1968 GT/CS I will probably have more invested in it than its current market value but have no intention of selling it anytime soon.

Do you have more invested in your GT/CS or HCS than its worth on the open market?

Hello,

If you LOVE your car, it shouldn't matter, if you're not out to make a profit. It's no different than paying an arm and a leg to save your favorite pet, simply because you love it.

Stacey

I'd guess that I have a ton more money in my HCS CJ than I could get for it. Don't really know, but I thought I paid too much for it at the time I purchased it, and the market is softer now.

Scott


you did and I would be happy to pay you 30% less than what you paid for it since we are such good friends.

keep in mind every car you own will lose value. Buy a new car now and it 5 years it sure is not going to be worth what you paid for it. That is a cost of living.

Hagerty will insure it for whatever you want. You just have to pay the higher premium for the higher worth.

www.hagerty.com

Unfortunately that is not a true statement. They will not insure a $20K car for $100K no matter how much you are willing to pay. Underwriters have final approval on agreed value and they will not overstate/over insure the value. That would set them up for big time fraud.

Has anyone (or knows anyone) that has collected on a total loss when the stated value exceeded replacement/market value?



Jeff, remember there is a difference in stated value and agreed value. With agreed value, they have to pay the number that is agreed upon in the policy.

Stated value leaves that opening for difference in car values.

But it is the "fastest GT/CS on the planet"-PMN haha that makes it PRICELESS


ABSOLUTELY!!!

--PMN

Jeff, remember there is a difference in stated value and agreed value. With agreed value, they have to pay the number that is agreed upon in the policy.

Thought I understood the difference until I asked an agent and I read the small print in most/all policies where it refers to arbitration, insured paying all cost,........ Thought I understood the difference until I read the small print in most/all policies where it refers to arbitration, insured paying all cost,........

Bottom line as I understood it was that the company would pay me what they decided was the value (if my agreed on was “unreasonable”), I could not sue them and if I could I would end up paying more in lawyer fees than the difference.

Guess none of us know how it would work out until we went through it 

Just the American way