1971 Ford F150

Discussion in 'The Drivers Lounge' started by Stan Smith, Sep 27, 2016.

  1. EX396

    EX396 Well-Known Member

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    You can continue to buy new, trade it in, buy another, over and over if you wish. There are certainly positive aspects to that approach, but thinking you are spending less money that way is ludicrous.

    New vehicles are the largest ticket item you will likely ever buy that depreciates. The average vehicle will lose over half its value in the first 5 years of ownership, most people are financing them during that time as well. Meaning finance charges AND full coverage insurance.
     
  2. pro1driver

    pro1driver I am LAST

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    i have very good credit, this qualifies me for zero interest rates. my trade ins are always worth money, good money towards a new purchase.

    you have to have insurance on classics too, don't you..?? in a few posts previously, someone said that too is expensive, costs more than an ordinary newer vehicle..what savings are there...???????
     
  3. EX396

    EX396 Well-Known Member

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    In my state, yes. I pay 2.2% of its value annually for my classic, for full coverage.

    For my new-ish cars I am paying about 1.5x that rate and I don't have full coverage on 2 of them.

    The biggest financial hit is depreciation.
     
  4. Apostolic

    Apostolic Super Moderator Staff Member

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    Not just the money it costs to repair if it can be,or to replace it with another Hot Rod,or Classic.
    Its the hours building it,or taking care of it.
    Also to take in to account the enjoyment thats lost.
    When you get in a crash.
    Or it is stolen which is what happened to my '30 Ford chopped & channeled 5 window coup.
    I had a lot of nice Hot Rods growing up,however after the loss of that car,that was the last one I ever had.
    After that it was just regular vehicles.
     
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  5. ABFer

    ABFer Super Moderator Staff Member

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    My policy on 'new' cars is buy older low mileage and run 'til dead and what bugs me the most is that I have to buy crash and comprehensive insurance (if my vehicle is worth over $5000 or so I keep it covered).
     
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  6. Apostolic

    Apostolic Super Moderator Staff Member

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    A year after I retired I financed a new 2010 Kia Soul for my wife.
    1 year later I also financed a new 2011 GMC regular cab full size 1/2 ton 4x4 pickup for myself.
    The Kia came in at just under 20 grand,my pickup was just under 32 grand.
    My credit was good so it was zero interest on that loan,her loan was for 5 years mine was for 6 years.
    The insurance was $900 per year on both,with $ 500 deductible.

    I'm happy to say they are both paid off,also happy to say we are planing to run both of them till they are junk.
    Heres a side note,both vehicle loans added up to more than I paid for our hobby farm with a 2 bedroom house,barn with an attached horse stable on 5.5 acres.However I was able to pay the vehicle loans of within 5 years,where as the farm loan was for 30 years.
    Which I'm also happy to say I was able to pay that loan off 2 months ago.
    Now if I could only keep my wife away from QVC we'd really have it made.
     
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  7. EX396

    EX396 Well-Known Member

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    I almost went that route, just couldn't bring myself to pay a whole bunch of money for something new-ish with no idea how it's really been treated. I know that financially, letting someone else take the largest hit on the depreciation makes the most sense. Instead, I just buy new, keep the vehicles modest, and for a long time. Including motorcycles and RV, I have 8 vehicles with a total of 557K on the clock...only full coverage on the 2017 and a classic car. Everything else is just PL & PD.
     
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  8. Stimpy

    Stimpy Wingnut

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  9. Stimpy

    Stimpy Wingnut

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  10. pro1driver

    pro1driver I am LAST

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    judging by the inept way of nearly losing control, best to have had a professional race that thing.
     
  11. DCM_Doc

    DCM_Doc Well-Known Member

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    A friend put a blueprinted 425 Buick in his friend's 70 Ford LWB a few years ago. The truck looked like it had just been driven off the farm. The truck was driven almost daily on a 45 mile commute on I 40. A lot of people were left behind when they made fun of that truck.
     
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  12. Apostolic

    Apostolic Super Moderator Staff Member

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    I had lowered '50 Mercury coup,completely dechromed shaved doors with electric door opener buttons behind the dual spot lights.
    It also had the wide white wall tires,& bubble skirts,the power plant was Buick with 3 speed on the floor.
    That was a nice car,wish I never sold it,however I almost lost my license street racing.

    Yup I had some really nice Hot Rods growing up,with a little forth sight I may still have at least one of them now.
     
  13. mud

    mud Wonderin'

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    I turned 18 years old in 1969. I went to high school in a kind of affluent area. I had friends who had 350 Novas, 389 GTOs and 383 Roadrunners. I drove a 1963 Chevrolet Belair four door with a 250 six cylinder engine, and a 2 speed power glide transmission, that I bought from my dad.
     
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  14. Apostolic

    Apostolic Super Moderator Staff Member

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    Whatever got you from where you were to wherever you wanted to got,it didn't matter what it was mud.
    I pretty much spent every cent I made on my cars,& its all water under the bridge,as I have nothing now to show for it.
     
  15. mud

    mud Wonderin'

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    By 1969 I had become a high school senior nerd rebel.
     
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  16. Apostolic

    Apostolic Super Moderator Staff Member

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    Yes thats another thing with me I was more car crazy then most,I only finished the 7th grade.
    One reason was a very abusive Dad.
    The other was I was more into working & spending all of my living on Hot Rods, then being able to concentrate on school.
     
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  17. mud

    mud Wonderin'

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    I left home for Marine Corps boot camp two weeks after high school graduation. My Dad was not abusive but raised me with a lot of discipline. In retrospect ( years later) it was a good start in a young mans life.
     
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  18. Apostolic

    Apostolic Super Moderator Staff Member

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    I had a really tough life until I became a Christian & was able to apply the Bible way to my living.
    After becoming a trucker I had some hard jobs starting out,however after a few years & learning to be savvy about the trade.
    I was able to take the good with the bad & make a real good living.
    I know without a formal education, God was the one who blessed me to be able to break into the industry in the first place.
     
    Last edited: Mar 6, 2017
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  19. Stimpy

    Stimpy Wingnut

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    This sounds really sweet. ...
     
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  20. Apostolic

    Apostolic Super Moderator Staff Member

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    With all of the extra power in that racer,he could haul some really heavy loads.
    However just for an everyday grocery getter why would you need so much power?

    I see the body is in great shape for that model year.
     

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