Massive E-Type Dilemma...
Discussion
So I bought my dream car, a '64 4.2 coupe in 1994 as a box of bits for, IIRC, £6.5k.
Spent around 8 years and another c.20k restoring it (new bonnet, no rust, full new leather interior, the lot).
Since completing the restoration in c.2002 I've only done about 5k miles in it!
Reason is there's always one last thing to get set up right whether it's carbs or suspension or that niggling something...Basically it's a very sound car with several upgrades such as brakes, exhaust, electronic ignition etc. I'll not go into detail, but basically it's straight, looks the dogs b
ks, and when the planets align it drives beautifully too:
It's a known car to the JEC and was valued by them last year, for insurance, at just under £50k.
Yesterday, out of the blue (it's not advertised for sale), someone offered me £40k for it. And I don't know what to do:
Spent around 8 years and another c.20k restoring it (new bonnet, no rust, full new leather interior, the lot).
Since completing the restoration in c.2002 I've only done about 5k miles in it!
Reason is there's always one last thing to get set up right whether it's carbs or suspension or that niggling something...Basically it's a very sound car with several upgrades such as brakes, exhaust, electronic ignition etc. I'll not go into detail, but basically it's straight, looks the dogs b
ks, and when the planets align it drives beautifully too:It's a known car to the JEC and was valued by them last year, for insurance, at just under £50k.
Yesterday, out of the blue (it's not advertised for sale), someone offered me £40k for it. And I don't know what to do:
- It has huge sentimental value becasue my dad who passed away in February helped me with it a lot.
- I don't feel I've got any enjoyment out of it so far especially with the monumental amount of work I've sunk into it (anyone who's *fully* restored an E-Type will know what I mean).
- With a young family I don't have time or money to sort out those final niggles.
- The money would make a *big* difference to our household budget.
- Will my son want it in 20 years time?
- Medium term, will it go up in value massively if I keep it?
- Medium term, will it go down in value massively if I keep it?
- Would I get more if I advertised it (not that I really want all the hassle and negotiation involved)?
patmahe said:
If you can afford to keep it then I would it obviously means a lot to you. However if you are struggling to put food on the table and have a 40k asset you could live without then to me its a no brainer.
It all depends where on this scale you sit.
We're not struggling with food yet, but it would mean no mortgage. No mortgage would mean more disposable income, and maybe even selling my old 330i and getting a more modern sportscar that I could drive every day and get some pleasure out of.It all depends where on this scale you sit.
Then again if I sell a perfectly good E-Type that I've actually built myself without really getting to know it as a driving machine, can I ever call myself a petrolhead again?
It does mean a lot to me. In many ways it defines me to a lot of people who know me (how's the Jag? rather than how are you? etc)...
Not exactly in E-type territory but I bought a Triumph Herald Convertible many years ago from a relation. Sold it after a couple of years because it was hardly used and I thought the money would be useful. I'm now in a better position and very much regret getting rid of it and cannot find one that only cost a week's wages nowadays.
Keep it!
Keep it!
Chiswickboy said:
Not exactly in E-type territory but I bought a Triumph Herald Convertible many years ago from a relation. Sold it after a couple of years because it was hardly used and I thought the money would be useful. I'm now in a better position and very much regret getting rid of it and cannot find one that only cost a week's wages nowadays.
Keep it!
Of course, that's the other thing: If I sell it now, there's no way I could afford an equivalent in a few years' time *probably*.Keep it!
- Definitely* not an E-Type with totally known provenance which mine obviously is (which is worth a lot in E-Type land).
I must admit, considering it's almost a 50 year old design, it does drive incredibly well. The gearchange is actually better than my '02 BMW.
It's been sitting in storage for 10 years...that must say something about my motivation levels to actually sort it and drive it. I can't figure out if this will change in the future. With an E-Type its always just one more little thing...
It's been sitting in storage for 10 years...that must say something about my motivation levels to actually sort it and drive it. I can't figure out if this will change in the future. With an E-Type its always just one more little thing...
For a what looks like a sorted E-type....£40k I'd bite your arm off.
If there's one thing I have to do before I die is own an E-type. Since I was a lad travelling up the M1 when it ended at Nottingham I just loved looking out for E's clutching my Observer's 1963 Book of Cars in my hand.
The fact that £40k would pay off your mortgage - what can I say!!!
A nigh on 10x would cover mine hence why I don't have an E-type!
For goodness sake keep it - £40k will be loose change in 10 years.
If there's one thing I have to do before I die is own an E-type. Since I was a lad travelling up the M1 when it ended at Nottingham I just loved looking out for E's clutching my Observer's 1963 Book of Cars in my hand.
The fact that £40k would pay off your mortgage - what can I say!!!
A nigh on 10x would cover mine hence why I don't have an E-type!
For goodness sake keep it - £40k will be loose change in 10 years.
That is beautiful!
By whatever means, I think I'd be tempted to try to find the money or make the time to get the niggles sorted, then spend a summer driving it and enjoying it once it is "just right", and then think about selling it.
I think if you sell it when it's at 90% you'll always regret not having hung on in there to get it to the state you want it in. And as you say, if you don't keep this one the chances are you'll never get another.
So I'd encourage you to keep it, finish it and enjoy it for a little while.
By whatever means, I think I'd be tempted to try to find the money or make the time to get the niggles sorted, then spend a summer driving it and enjoying it once it is "just right", and then think about selling it.
I think if you sell it when it's at 90% you'll always regret not having hung on in there to get it to the state you want it in. And as you say, if you don't keep this one the chances are you'll never get another.
So I'd encourage you to keep it, finish it and enjoy it for a little while.
caiss4 said:
For a what looks like a sorted E-type....£40k I'd bite your arm off.
If there's one thing I have to do before I die is own an E-type. Since I was a lad travelling up the M1 when it ended at Nottingham I just loved looking out for E's clutching my Observer's 1963 Book of Cars in my hand.
The fact that £40k would pay off your mortgage - what can I say!!!
A nigh on 10x would cover mine hence why I don't have an E-type!
For goodness sake keep it - £40k will be loose change in 10 years.
Well, OK, so what is it's value? Yes, what someone will pay, but unless I advertise it, so far I have a sample of one...I've experienced E-Type "people" a lot during the rebuild, and frankly, many of them...If there's one thing I have to do before I die is own an E-type. Since I was a lad travelling up the M1 when it ended at Nottingham I just loved looking out for E's clutching my Observer's 1963 Book of Cars in my hand.
The fact that £40k would pay off your mortgage - what can I say!!!
A nigh on 10x would cover mine hence why I don't have an E-type!
For goodness sake keep it - £40k will be loose change in 10 years.
Difficult one.
An "E" type Jaguar is my dream car (Silly really, when there are far better cars out there, but none more iconic..(imo)
I remember first hand the stir they caused when they were launched in 1961, when the typical family car would struggle to reach 75mph.
On balance, I would say keep it, £40k is an awful lot of money though, when it has virtually been in storage 10 years, but I know they can be a money pit....
Difficult one......
An "E" type Jaguar is my dream car (Silly really, when there are far better cars out there, but none more iconic..(imo)
I remember first hand the stir they caused when they were launched in 1961, when the typical family car would struggle to reach 75mph.
On balance, I would say keep it, £40k is an awful lot of money though, when it has virtually been in storage 10 years, but I know they can be a money pit....
Difficult one......
Gruber said:
That is beautiful!
By whatever means, I think I'd be tempted to try to find the money or make the time to get the niggles sorted, then spend a summer driving it and enjoying it once it is "just right", and then think about selling it.
I think if you sell it when it's at 90% you'll always regret not having hung on in there to get it to the state you want it in. And as you say, if you don't keep this one the chances are you'll never get another.
So I'd encourage you to keep it, finish it and enjoy it for a little while.
Well yes, that makes a lot of sense.By whatever means, I think I'd be tempted to try to find the money or make the time to get the niggles sorted, then spend a summer driving it and enjoying it once it is "just right", and then think about selling it.
I think if you sell it when it's at 90% you'll always regret not having hung on in there to get it to the state you want it in. And as you say, if you don't keep this one the chances are you'll never get another.
So I'd encourage you to keep it, finish it and enjoy it for a little while.
I have this vision of my 5 year old in his Britax seat and me driving through the countryside with the roof & rear quarterlights open, the sound of the Classicfabs exhaust and huge smiles on our faces.
Then I remember it's only got lap belts, so they'd need replacing with 3 pointers (£££)...Then there's the proximity of a steel A-post to a 5 year olds' head...
I dunno.
dr_gn said:
No mortgage would mean more disposable income, and maybe even selling my old 330i and getting a more modern sportscar
So sell the E-Type, pay off your mortgage and then (presumably) take out a loan to buy a massively depreciating "modern sportscar"?It really doesn't matter whether you don't drive your E-Type a lot, just looking at it and sitting in it is enough.
An acquaintance of mine sold his prize-winning Jensen FF for (at the time) strong money back in 1990. Like you, he had put many hours into the car and it was probably the best in the UK (thus the world?) at the time.
What did he do? Went straight out and bought a top of the range Vauxhall Senator, using about three-quarters of the Jensen money.
Thought he was big time for a few months, but how much was the Vauxhall worth in five year's time?
The Jensen would have been his pension fund.
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