So I'm graduating law school soon. Will be working in a prosecutor's office. The experience is great but the salary is not (comparable to what most urban cops/ firemen start out at). The only problem is, with a house payment, I can't afford to spend too much on a car. I want something fun to drive, but can't afford the new line of V8 Mustangs, Camaros, or Challengers. I've been a 12 year old Explorer for 5 years and… it's just time.
I can only spend in the neighborhood of $15,000. My dad suggested I look at a classic car. I only travel 3 miles to work so reliability isn't a SUPER concern. I've driven several 1960's Mustang and early 1970's Corvettes. I can afford nice restored models of both.
Here's my dilemma.
I don't want my colleagues to think I'm (a) some sort of redneck or (b) a tool.
I think they look cool and I know they're fun to drive, but I could understand how both of those other inferences could be made about someone daily driving a classic car.

Would love to hear opinions on this. Didn't really know where else to ask so II thought it would be helpful to ask a cross section of people I don't even know (hah). Thanks.

You only need to know one thing, Frank. Buying and restoring a classic car is a labor of love. You'll never get out of it what you put into it (financially speaking). If you can live with that, then go for it.

Case in point, I have a 1976 Eldorado convertible here in Florida. Triple white. It's mint and it cost me a fortune to get just right. It's worth a pretty penny, but not nearly as much as I put into it. And I wouldn't trade it for the world. It gives me THAT much pleasure.

Then again, I'm A LOT older than you, and it wasn't an impulse buy that I made while I still had student loans. Only you can answer that for yourself. If you can swing it, both emotionally and financially, then go for it, kid .

So the upkeep is a big expenditure. Interesting, interesting.

Sounds like fun, I can say the cars like you mention are owned my several of friends and neighbors. I myself have something like PB, a Caddy.

These cars are not everyday cars for me or my friends, each of us have other vehicals we use daily and throughout the winter.

I have not seen my friends cars all winter other than if the garage doors were open and my Caddy has not been out for Months, could you imaging driving through the snow or into one of the potholes that we have had this winter, I'm talking about Eastern LI NY an it seams from your location posted would be pretty much the same in NJ.

Good Luck and I hope you get something you love. Maybe try to budget a little something for a second car or Truck, maybe a Station car as we call them. An affordable small truck or sedan. You leave in a parking lot and dont worry about it.

GL

Frank, I advise you to not buy a classic car at this stage of your career. You pay a substantial premium for a classic car over what it would fetch as a plain used car of that vintage. Older cars require lots more maintenance/repair than newer ones, are less reliable, get less mileage. And, as PB said, if you really value the way a classic car looks and runs, you'll be sinking an awful lot of money into it when you can least afford it--and you'll never get most of it back on resale

And then there's the issue of: a classic is in the eye of the beholder. I own a classic: a 2000 BMW E39 M5. Only 45k miles, and fewer than 2k were brought into the US. I have it listed all over the place and have yet to sell it. Why? Because only a Bimmer collector would consider it a classic, and pay a premium price.

I own a 1964 Jaguar XKE roadster which I have owned since1971 and I can tell you that restoration cost's a fortune. Back in 76 when I totally restored mine it was expensive and now parts prices have skyrocketed because so many people are restoring these beautiful cars rather than getting something modern. Routine maintenance is an absolute must. Since I relocated to the south 20 years ago I hadn't driven it and although it only has 28,000 original miles on it, I will have to dump some bucks into it to have it running right.

Everytime I hear XKE I think of the song "Dead Man's Curve", (which is how I learned what an XKE was)

I was cruisin' in my Sting Ray late one night
When an XKE pulled up on my right
And rolled down the window of his shiny new Jag
And challenged me then and there to a drag



My ex husband liked classic cars. We had a 37 Ford and a 42 Studebaker. Fun to drive in. Not that I ever worked on them, BUT the motors seemed so uncomplicated than they do today.. Ha ha.

TIS

Appreciate all the feedback. My dad owns a 56 T Bird, but like PB, it sits in the garage from October until April. I guess my concerns about what other people in the office might think should take a backseat to the cost of ownership. The Mustang I want to buy (which is becoming less of a reality the more people I talk to) was completely restored and is listed for $13,500.

What concerns me most is it being a daily driver. The office gives us cars to drive while working. It really only needs to get me to and from, and for personal errands. That being said, what I'm hearing is that if (when) something does go wrong, it won't be cheap, and parts might not be readily available regardless. I'm not a rash person and owning an old car is totally out of character for me. Thanks again for the feedback.

Bigboy, you could solve Britain's balance of payments problems just by replacing the clutch on that E-Type.

I was thinking seriously about buying a used Ferrari. So, I consulted the the guy whose garage works on my M5, and who services a fleet of Ferraris owned by a local collector. He told me Ferraris require major servicing every 15k miles. The engine has to be removed for every major servicing--and it's $4k just to remove the engine. After hearing that, I abandoned used Ferraris and bought a new BMW M4.

Go for it, make your Heart Happy.

Maybe you will live and learn, you might regret not getting it down the Road.

Get the Car. I did when I was your age. I bought a dream boat, my friends thought I was nuts, a 1982 Caddilac Fleetwood Broughm white with the Burgundy Leather interior. Never regretted it.

Get the Car.

Turnbull, Itoo was once going to dump the Jag and get a Ferrarai, which is still my very favorite car, but after much research I said to hell with it. Rubber timing belts need changing every few years at a cost of $4,500 +-. My current ride is a Mercedes S 430 which, while expensive to maintain is a wonderful ride. Great ride to California and back.

Excellent choice, Bigboy. I'm a BMW guy, and would always choose a BMW M-car over a Merc AMG car. But, if I were in the market for a big luxo sedan, I'd easily choose a Mercedes S-class over a BMW 7-series.

Get the 60s mustang!!!!

I'm in the exact same position as FrankMazola. I'm paying off a vehicle right now that will be my travel car when I make long road trips for either personal or business reasons.

But once I do pay it off (in another few years), I'd like to own a second vehicle. I'd LOVE to get my dream car but that's completely unrealistic - 1958 red and white Corvette convertible. However, what is more affordable is a 1965 Mustang convertible. I know absolutely NOTHING about cars so I understand I'd have to pay for it fully restored. I've been checking online and it appears it'd be between $20,000 and $30,000.

That's what I would probably be paying for a new car anyways and as some have said, get what I want. I'd like to own the Mustang. I would use this car strictly as a commuter car (my job is only 10 miles from my apartment) and errands car (grocery shopping and whatnot). However, as Turnbull and others have said, they get less gas mileage, are less reliable, etc.

So I'm in the same dilemma. I'm hearing cases from both sides. On the one hand: get the car, you only live once, if that'll make you happy do it, etc. On the other hand: you'll sink too much money into it, it isn't reliable, it's hard to work on, parts are hard to find, etc.

Anybody have any experiences with classic Mustangs or can offer up any advice? Also, weather isn't an issue for me as I'll pretty much be able to drive the car year around due to where I live.

I like to buy things used I save two thirds that I would pay for them used then new or rebuilding them myself which I would never would do.

There was a place here in Brooklyn you can buy used corvets for about 8 to ten thousand but that was ten years ago.

Someone was talking about studebakers. I had an Avanti when it first came out. I though at the time it was a cool car.

I wrecked my neighbors studebaket old one. It was in working order but he never drove it. He would just start it up every day. We had an argument he took me to court for punching his wife through his front screen door

Then as luck would have it someone stole his pride and joy that studebacker that he never drove and crashed it into a wall. I told the guy that was a shame I know you lived that piece of shit car.

Then I told him one day I will invite you to the party we will have after your wife dies.

Irishman, you should go on hemmings.com and check out Mustang prices. Nearly all owners of Sixties Mustangs know they have collector value, so you are unlikely to get a real "find" or a "steal" without paying that premium.

My brother had a 64 1/2 Mustang. Pure junk.

Find you a used mid 80's Buick Grand National. Not worth a ton, won't cost a ton, but one fun ride.

Thanks Turnbull and dixiemafia. Turnbull, do you have any exerpeince with hemmings.com or know anyone who's purchased vehicles through that website?

Back in the 80s I bought a '66 Chrysler Imperial from a colleague. Madonne! It was a boat; I could have lived in that car. They definitely don't make them like that anymore. It must have weighed 10 tons, it got about 8 miles per gallon, but it rode like a dream and sitting in it was like sitting on my couch. Unfortunately, parts were hard to come by, so I gave it up. God, I wish I had it now.

Yes, car was a Dreamboat.

My neighbor had one of these when I was kid, I thought he was POTUS.

This is just a random pic from internet.

Mine was a light green. They only made about 700 of them.

Yes. My 2000 M5 is listed on Hemmings. They are considered the best and most reliable of the collector car sites.

My car is also listed on Autotraderclassic. All I got from them was three "inquiries" from Nigerian scammers.

And you'd never lose it in a parking lot, Oli.

In the early Seventies, I worked with a guy who owned a '70 Olds 98. Another dreamboat that you'd never lose in a parking lot. He told me that there was a big market for old, king-sized US cars among migrant workers, because they traveled from job to job with their families and all their belongings.

Funny story: years later, my wife, two kids and I visited my brother in law and his wife and two kids in Freehold NJ. He suggested that we go to a local orchard and pick apples. So, the eight of us piled into his '78 Impala--last of the ultra-big Chevs. As we approached the orchard, I remembered what my co-worker had told me about big cars and migrant laborers. I had a premonition: the owner of the orchard would run out and say, "No, no--here you pay us to pick the fruit."

I drove a Buick Electra 225 one time. Talk about a BOAT!

A deuce and a quater.

This Bad Boy is being auctioned off in FLA today.

Wish I was there.

Nice Eldorado DP!

Irishman, I finally sold my collector car--a 2000 BMW M5--three weeks ago, thanks to an ad in Hemmings, both online and in print.

Took me almost a year to sell. I learned that there is enormous interest in collector cars. Also learned that there are collector cars--and collector cars. My M5 was collectable, but only to Bimmerheads who appreciated its rarity and special features. The real collector cars, like 5-7 Chevs, Cobras, '60's muscle cars, Ferraris, etc., have long-established followers and a regular marketplace with easy-to-find valuations. Lotta competition.

The Biaritz went for $19,000

A really nice group of cars going off tomorrow also.

Never discount the amazing cars of the 70's as well.

These cars are some of the most desirable and expensive cars of all.