Re: When deciding what to buy....

Posted by JD in KC On 2011/5/22 8:55:51

The car you gave as an example represents some very hefty expenses and time to get it looking good again. The electro-hydraulic window/seat/top system is problematic in many ways. On the other hand, it comes with some very desirable parts and if restored, would be spectacular.

How much of the work are you able/willing to do yourself? If you are considering having all the work done for you to get it up to #3 condition, then I'd guess that you'd spend more than the cost of the car and would end up with a car worth less than you spent. If you had it brought up to #1 condition you would spend way more than the purchase price but the car might (I repeat might) be worth more than you put into it (if you could find a buyer at those stratospheric prices).

I have a 22nd series Custom sedan (condition fair) and a 23rd series Custom sedan (condition good). I bought them knowing with an absolute certainty that I was going to spend more on them than they are worth (monetarily). I bought them because I enjoy having, showing and driving them. I enjoy the look on the face of a 20 something when he looks under the hood and sees the enormous straight eight. I enjoy all the 'thumbs-up' I get just driving around town. I like listening to all the stories from the 50-60 year olds about their father, uncle, or neighbor that 'had one just like it' (even though the car in their memory may have really been a Hudson). That's what makes it 'worth' it to me.

Ultimately it's up to you as to what you want and how much you are willing/able to spend to get it. I personally believe that 'buy the best condition car you can afford' is probably very good advice, I just never followed it.