Would you buy a car for a family heirloom?
Discussion
Talking to some friends at GFOS, they are thinking of buying a car to hand down to their children, which I thought was a lovely idea and considering doing the same. I found an old thread on here from 2004 but that was a lifetime with what’s happening in the car industry.
Asking the PH masses: what’s a good car to hand down? Ideally something that the kids will keep as a memory of their parents? Future value is always nice but this is designed to be something more sentimental, and something we can use and enjoy while we are still around. Budget ideally £50k so nothing like F1s or F40s!
Initial thoughts:
Aston V8 vantage
Jaguar E type (or F type?)
MGB or MGC
So I guess the question really is:
Something modern with modern electronics: touchscreens etc (Jag F type?)
Something from the 2000’s with basic electronics (E46 M3?)
Something classic (MG, E type?)
Or something vintage and even older ?
Needs to be something that ideally will still work in 50 years !
Thanks all
Asking the PH masses: what’s a good car to hand down? Ideally something that the kids will keep as a memory of their parents? Future value is always nice but this is designed to be something more sentimental, and something we can use and enjoy while we are still around. Budget ideally £50k so nothing like F1s or F40s!
Initial thoughts:
Aston V8 vantage
Jaguar E type (or F type?)
MGB or MGC
So I guess the question really is:
Something modern with modern electronics: touchscreens etc (Jag F type?)
Something from the 2000’s with basic electronics (E46 M3?)
Something classic (MG, E type?)
Or something vintage and even older ?
Needs to be something that ideally will still work in 50 years !
Thanks all
I think a car to pass down as a family heirloom should be something that you've shared and made memories in together. Buying one specifically for that purpose seems foolish unless you're going to use it together immediately.
e.g. Buy an M3 and go track-daying and road-tripping in it multiple times a year together and get involved. Rebuild a rusty MGB and use it together etc etc
e.g. Buy an M3 and go track-daying and road-tripping in it multiple times a year together and get involved. Rebuild a rusty MGB and use it together etc etc
Sorry to be negative, but I think that's a daft plan.
Why enforce your hobbies on your kids (and their kids)? Let them make their own choices. they may not like cars (my daughter likes her car because its red and always starts). They may like cars and want to chose what they like.
Cars need care and money spent on them to survive, so the kids either pay to maintain or suffer "guilt" from selling the "family heirloom".
Unless they are filthy rich, there are so much better things to do with £50k. This really smacks for "so much money - don't know what to do with it" or "more money than sense".
How does one car go to "children"? My sisters dislike being on a zoom together, let alone combined car ownership living 100 miles apart.
Why enforce your hobbies on your kids (and their kids)? Let them make their own choices. they may not like cars (my daughter likes her car because its red and always starts). They may like cars and want to chose what they like.
Cars need care and money spent on them to survive, so the kids either pay to maintain or suffer "guilt" from selling the "family heirloom".
Unless they are filthy rich, there are so much better things to do with £50k. This really smacks for "so much money - don't know what to do with it" or "more money than sense".
How does one car go to "children"? My sisters dislike being on a zoom together, let alone combined car ownership living 100 miles apart.
Edited by OverSteery on Monday 12th July 10:06
Talking to some friends at GFOS, they are thinking of buying a car to hand down to their children, which I thought was a lovely idea and considering doing the same. I found an old thread on here from 2004 but that was a lifetime with what’s happening in the car industry.
Asking the PH masses: what’s a good car to hand down? Ideally something that the kids will keep as a memory of their parents? Future value is always nice but this is designed to be something more sentimental, and something we can use and enjoy while we are still around. Budget ideally £50k so nothing like F1s or F40s!
Initial thoughts:
Aston V8 vantage
Jaguar E type (or F type?)
MGB or MGC
So I guess the question really is:
Something modern with modern electronics: touchscreens etc (Jag F type?)
Something from the 2000’s with basic electronics (E46 M3?)
Something classic (MG, E type?)
Or something vintage and even older ?
Needs to be something that ideally will still work in 50 years !
Thanks all
Asking the PH masses: what’s a good car to hand down? Ideally something that the kids will keep as a memory of their parents? Future value is always nice but this is designed to be something more sentimental, and something we can use and enjoy while we are still around. Budget ideally £50k so nothing like F1s or F40s!
Initial thoughts:
Aston V8 vantage
Jaguar E type (or F type?)
MGB or MGC
So I guess the question really is:
Something modern with modern electronics: touchscreens etc (Jag F type?)
Something from the 2000’s with basic electronics (E46 M3?)
Something classic (MG, E type?)
Or something vintage and even older ?
Needs to be something that ideally will still work in 50 years !
Thanks all
Would you not be better off putting £50K in a vanguard life strategy account instead? As others have said, unless that car has lots of family memories it has the potential to just be an inconvenience unless your children love the car.
I know I certainly would have zero interest in maintaining and paying for some old car that my dad had bought on a whim 20 years ago as he thought I might like it.
I know I certainly would have zero interest in maintaining and paying for some old car that my dad had bought on a whim 20 years ago as he thought I might like it.
It depends really on what your plans are with the car, the age of the kids and their interest in cars.
It's not going to be seen as an heirloom if there's no attachment to the car.
Get something you can take them on road trips in, maybe get in to track days or autotests/autosolos and sprints etc. Work on it and service it with the kids if you have the ability and aptitude to do so.
If it's not going to be used then depending on what you go with, say with the Aston it's just going to be an expensive car in the garage.
Maybe you'll get lucky and it'll appreciate, no one really knows with the way the motoring world is going, but it's just going to be an investment that'll end up being sold with no thought.
It's not going to be seen as an heirloom if there's no attachment to the car.
Get something you can take them on road trips in, maybe get in to track days or autotests/autosolos and sprints etc. Work on it and service it with the kids if you have the ability and aptitude to do so.
If it's not going to be used then depending on what you go with, say with the Aston it's just going to be an expensive car in the garage.
Maybe you'll get lucky and it'll appreciate, no one really knows with the way the motoring world is going, but it's just going to be an investment that'll end up being sold with no thought.
The trouble with having a car as an heirloom is the size of it. What if your children end up living in an apartment in New York city?
Another issue might be getting them to buy into the idea of it being an heirloom. I guess if you can give them some fond memories of it, a few nice days out in it, etc, then that could work.
Many modern classics that have ECUs are starting to experience problems with failure and a lack of replacement parts
https://blog.heritagepartscentre.com/blog/2016/05/...
Though there are some aftermarket companies cropping up making replacements, it's still a risk.
Another issue might be getting them to buy into the idea of it being an heirloom. I guess if you can give them some fond memories of it, a few nice days out in it, etc, then that could work.
Many modern classics that have ECUs are starting to experience problems with failure and a lack of replacement parts
https://blog.heritagepartscentre.com/blog/2016/05/...
Though there are some aftermarket companies cropping up making replacements, it's still a risk.
Edited by georgeyboy12345 on Monday 12th July 10:25
The bangers and cash programme is always fascinating to see how little stuff is worth.
Given it’s had to be stored, fettled etc for decades. I liked the bloke who he kept a his fathers non working a type in garage for 40 years. Worth about £4/5 k.
Even the auctioneer said he’d have been better off selling it 40 years ago and banking the cash.
Of course who could see mk 1 escorts etc suddenly being worth anything. No one wanted them when they were 10 years old and so on. Capris were a joke at the back end of the 80’s. Again who would have thought it.
Space/storage is yr issue for that length of time and then recommissioning costs.
Given it’s had to be stored, fettled etc for decades. I liked the bloke who he kept a his fathers non working a type in garage for 40 years. Worth about £4/5 k.
Even the auctioneer said he’d have been better off selling it 40 years ago and banking the cash.
Of course who could see mk 1 escorts etc suddenly being worth anything. No one wanted them when they were 10 years old and so on. Capris were a joke at the back end of the 80’s. Again who would have thought it.
Space/storage is yr issue for that length of time and then recommissioning costs.
+1 with all answers above.
Unless there is family emotional connection to the car, it will be meaningless.
My Lotus was bought new in 1999 when my kids were tiny, was used to take them to school etc. One of them has already dibbsed it for when I can no longer fall in/clamber out.
So by all means buy a classic for yourself to enjoy. If your kids enjoy it with you, then the result will look after itself.....whether they decide to keep it or sell it on after you die.
Unless there is family emotional connection to the car, it will be meaningless.
My Lotus was bought new in 1999 when my kids were tiny, was used to take them to school etc. One of them has already dibbsed it for when I can no longer fall in/clamber out.
So by all means buy a classic for yourself to enjoy. If your kids enjoy it with you, then the result will look after itself.....whether they decide to keep it or sell it on after you die.
It sounds like a nice thing to do but I've got rid of most of my old stuff so as not to burden my kids with it. I wouldn't like to think they felt the need to keep something just for sentimental reasons, it can be very tying. Also neither of my kids have a garage or anywhere to store a vehicle.
I'm on with buying a cheap property at my favourite seaside so everyone can benefit from it, it may go up in value but that's not the motive, my grandad had a caravan at the seaside that he passed down, it was fun but that was in the 70's and it's long gone. I considered doing the same but nice statics are expensive and have a limited lifespan.
If my kids were into cars and bikes I might think differently but to them they are an evil necessity except maybe for travelling to that free holiday at the seaside.
I'm on with buying a cheap property at my favourite seaside so everyone can benefit from it, it may go up in value but that's not the motive, my grandad had a caravan at the seaside that he passed down, it was fun but that was in the 70's and it's long gone. I considered doing the same but nice statics are expensive and have a limited lifespan.
If my kids were into cars and bikes I might think differently but to them they are an evil necessity except maybe for travelling to that free holiday at the seaside.
Personally I wouldn't plan to. Feels like something you're doing for you.
If they grow up with the car, love the love, hate the idea of you selling it.. well you'll know that and can pass it on in your will.
But otherwise.. they might not want / like a car. They're big and need storage and maintenance. If it's not their thing they'll want to flog it straight away. Or feel compelled through guilt to keep it, because heirloom. Then it appears on the 'nice cars rotting away on my neighbours driveway' thread...
If they grow up with the car, love the love, hate the idea of you selling it.. well you'll know that and can pass it on in your will.
But otherwise.. they might not want / like a car. They're big and need storage and maintenance. If it's not their thing they'll want to flog it straight away. Or feel compelled through guilt to keep it, because heirloom. Then it appears on the 'nice cars rotting away on my neighbours driveway' thread...
Edited by The spinner of plates on Monday 12th July 10:51
Unless its got family history its just a car, not an heirloom.
And, your descendants may not be interested and feel duty bound to keep it, or may not have space, or just flog it.
Plus, prices are high for anything interesting at the moment, but all cars have a lifecycle and as those who had an affinity for them die off they go from being desirable to just old relics that they may not have any appreciation of.
Your opinions of things are formed, to a great extent based how you felt about it at the time, and at the time you were probably a kid, in a time where there was less stuff about so it got an awesome rating which stays with it despite you largely knowing better that it is probably a right old woofer.
Same for old computers, I loved my Commodore 64 and get nostalgic for the games, my kids look at it and wonder WTF is that crap, but the sights and sounds are burnt into my memory from 1984, it isn't in theirs and you cant fake it, they get nostalgic about Half Life and Halo.
Same with TV programmes, had someone telling me that "The Prisoner" was the finest TV ever produced when I mentioned I had been to port Merion for the weekend, I was aware of it and I watched a couple of episodes and thought it was a bit lame, but I am 50 now and didnt see it as a kid in the late sixties.
My uncle has had a car since 1967, 54 years an his son will likely inherit it, but doesnt have a garage, so not sure how that will work.
And, your descendants may not be interested and feel duty bound to keep it, or may not have space, or just flog it.
Plus, prices are high for anything interesting at the moment, but all cars have a lifecycle and as those who had an affinity for them die off they go from being desirable to just old relics that they may not have any appreciation of.
Your opinions of things are formed, to a great extent based how you felt about it at the time, and at the time you were probably a kid, in a time where there was less stuff about so it got an awesome rating which stays with it despite you largely knowing better that it is probably a right old woofer.
Same for old computers, I loved my Commodore 64 and get nostalgic for the games, my kids look at it and wonder WTF is that crap, but the sights and sounds are burnt into my memory from 1984, it isn't in theirs and you cant fake it, they get nostalgic about Half Life and Halo.
Same with TV programmes, had someone telling me that "The Prisoner" was the finest TV ever produced when I mentioned I had been to port Merion for the weekend, I was aware of it and I watched a couple of episodes and thought it was a bit lame, but I am 50 now and didnt see it as a kid in the late sixties.
My uncle has had a car since 1967, 54 years an his son will likely inherit it, but doesnt have a garage, so not sure how that will work.
We have one in the family that has happened by accident.
I think buying one specifically will mean it's never really an heirloom, higher end you go, the more it turns into an investment. If they ever get highly valuable then it will come a time when it gets sold for cash because money is worth more than a priceless car that no one can afford to run/insure. If there's multiple children interested then they may not be able to "buy out" the other parties etc.
Ours is the great oxymoron of being priceless, yet worthless. An Austin A35. May as well be worth a million quid, it ain't going anywhere.
I've told the story before but it's essentially three generations and 50years into the family.
Thankfully parts are common as muck and dirt cheap.
The holy trifecta is "worthless, prone to rust and very rare/obscure".
I think buying one specifically will mean it's never really an heirloom, higher end you go, the more it turns into an investment. If they ever get highly valuable then it will come a time when it gets sold for cash because money is worth more than a priceless car that no one can afford to run/insure. If there's multiple children interested then they may not be able to "buy out" the other parties etc.
Ours is the great oxymoron of being priceless, yet worthless. An Austin A35. May as well be worth a million quid, it ain't going anywhere.
I've told the story before but it's essentially three generations and 50years into the family.
Thankfully parts are common as muck and dirt cheap.
The holy trifecta is "worthless, prone to rust and very rare/obscure".
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