What would you guy do

[Jmm24]

What’s up everyone, I joined a few months ago but this is my first time posting.

My Dad passed away in January and I inherited his little car collection and one of the cars is a 2005 4 option Red W/ white stripes GT. The car is in pristine shape and only has 150 miles on it. Everything functions and operates as should, not a mark on anything, the car looks like it just rolled off the showroom floor. It’s currently sitting covered in protected storage.

my question is what would you guys do if put in a similar situation. Would you sell,keep it in its current condition and wait till it appreciates more before selling it or would you just say f it and drive the thing a little bit and enjoy it. I’m 28 y/o, lifelong car guy and currently don’t “need” the money but can’t say it wouldn’t help either

 

[twobjshelbys]

This is just my opinion. If you're not going to drive it (which I would highly encourage, first choice), I would sell it (second choice). The appreciation curve is topped out. Between now and "then" it's not going to double or triple and you'd be better off cashing out now and investing the money in the stock market. Consider your "standing still" costs of registrations, taxes, and insurance.

Delivery miles cars do best at the auctions. With Covid shutting them down (sure, they may allow attendees but the numbers are still going to be low because people simply won't go like they did a year ago). Given that Bring A Trailer has been getting some really good numbers recently.

 

[Art138]

Unless you have a passion for the GT,a garage to keep it in,and factor in that the car needs to be maintained....I would sell. Low mileage cars do well.

 

[B.M.F.]

Drive that thing! It's worth what 330 right now. Even if you put 6000 miles on it its still a 250 car. What ever value is lost driving it can not be replaced by the enjoyment it will bring.. I wouldn't even look at it like what it will or would lose in value with more miles. Buy a spare set of wheels, put some driver friendly tires on it. Store away the originals. Have the car clear bra'd (do most of the car) and just enjoy it. Oh yeah.. make sure its insured well!

 

[extrap]

If you don't love the car, sell it!! And I'd sell it on Bring a Trailer.com; their fees are very very low (like $99 + pix) compared to the well known auction houses. Right now your car should sell for $330K+, and over the long haul you should certainly do better with the $ in index mutual funds vs the car ... as long as you do have the discipline to actually put all $330K into the funds and leave it there.

Now if you love the car, well ... you've got basically the best one you can get! (except the higher $ Heritage model)

What you really have is ... a great 'problem' (I'm sorry it had to come about by your father passing away) .. but possibly still a difficult decision.

By the way, I too feel the GT is currently peaking in value ... hope I'm wrong as I just bought one ... I always have a hard time foreseeing high appreciation in anything, especially a car (I never would've predicted the $150K '05/6 GT would be worth double, even after 15 years) ... but even if it continues up from here I don't expect its value increase will surpass typical long-term stock market returns. Good luck, whichever way you go

 

[Specracer]

I would sell it, as delivery mile cars bring a premium. With those proceeds you could buy another, and have some good $ left over. I would not drive it, unless you plan to keep it for the long haul.

 

[Tomcat]

Unless you have a passion for the GT,a garage to keep it in,and factor in that the car needs to be maintained....I would sell. Low mileage cars do well.

What he said...the ancillary costs to store, insure, maintain, etc...require a certain level of commitment ($).

 

[KennethClay]

I would sell it, as delivery mile cars bring a premium. With those proceeds you could buy another, and have some good $ left over. I would not drive it, unless you plan to keep it for the long haul.

+1. Unless the car has sentimental value (and BTW, sorry for your loss), you can capture the “delivery miles” premium in cash and get another one to drive if you want to own and drive a car. As a pure investment, you will likely do better in other assets. For most of us here on the forum, the investment value isn’t really the point, though it is nice that the cars have held their value well.

 

[junior]

First, sorry for your loss.
Second, If you're in this quandary, sell, Bring A Trailer e-auction house, the few that sold recently fetched a nice sum of money.

 

[Jetfire]

If your Dad loved loved loved that car, then I would never sell it. That's just me though but I'm sure there are many other things to keep in his memory as well

 

[GTinTN]

Sorry for your loss - losing a parent is a hard thing to go through.
You indicated you are a car guy. What do you think of the GT? Is it a car that speaks to you? Is it a car your father cherished?
I think only you know the answers that are important to your decision.

 

[BSim27]

Sad to hear about your father. And I agree that only you will know the correct thing to do for yourself and your family. Having said that, there probably hasn’t been a better time to sell a low mileage GT. Good Luck!

 

[STORMCAT]

Sorry to hear about your father. Life is about stories , emotions feelings and experiences.. All of those things live within you and you can't take them with you, no one can take them from you and can never be replaced. If you love cars and loved your father for me it's an obvious choice.
Keep the car, drive it and enjoy it and create your own memories. Take it to car shows share it with people and share the stories. Maybe you can pass on the car to your own son someday.. The legacy and the stories would continue, And great family tradition.
My father was the car guy Who got me intrested in cars when I was a young boy.. He's gone now..I'd give anything to have one of his cars and drive it today .

 

[DC-DD]

What’s up everyone, I joined a few months ago but this is my first time posting.

My Dad passed away in January and I inherited his little car collection and one of the cars is a 2005 4 option Red W/ white stripes GT. The car is in pristine shape and only has 150 miles on it. Everything functions and operates as should, not a mark on anything, the car looks like it just rolled off the showroom floor. It’s currently sitting covered in protected storage.

my question is what would you guys do if put in a similar situation. Would you sell,keep it in its current condition and wait till it appreciates more before selling it or would you just say f it and drive the thing a little bit and enjoy it. I’m 28 y/o, lifelong car guy and currently don’t “need” the money but can’t say it wouldn’t help either

You mention little car collection. What are the other cars? Do any of them have memories from your childhood? If so one of them may be the one to keep.

 

[AJB]

Any discussion with your dad beforehand?
I would give it some time since you don't need the money right now.

You may have a different opinion 1-2 years from now. My dad died in 2015. I am very glad I kept the small items he left.
I smile and 'look up' each time I pick up one of his favorite tools or drive his equipment .

We should all make a plan if possible.
My 'small collection ' will go to my daughter Megan, son in law Ryan and grandson Ford.
Andy (ajb)

 

[CampoLady]

Fathers that leave their children are something special. My dad
left me with a sore a$$ from all the beatings I got a kid....

 

[Stef]

IMHO,
If you find yourself in a situation were you need the extra resources for bettering your life or that of family, then perhaps sell.
I would consider it an heirloom and keep and enjoy it forever.
You'll only ever get one like this from you're father.
All the best whatever you decide.