To Sell or To Keep.

[lytemup]

Hello all, been so long since I've been on I had to create a new account . Anyway, I'm looking for some advice. I'm trying to decide whether to keep or sell my vette. I've had it 11 years and put less than 1000 miles on it (it has less than 20,000 original miles total). In the last 4 years I've probably driven it less than 50 miles total. My life seems to have changed and it never seems to make it out of the barn in the spring. Having a young child now I don't even get to cruise with my wife... I do love the car, it's always been and still is my dream car.

Being a low mile original, I never seem to want to take it places (like work in the summer), and at the same time I feel like I'm wasting it letting it sit (I do take care of it, pump out the gas if I haven't driven, etc). Has anyone else gone through times like this and sold, or kept, a car and then later had things change again? I don't want to get 10 years down the line and completely regret selling it...I'll afraid I'll never find another like it.

It's a 1981 black L81, 4 spd, <20,000 original miles. Original tires, etc etc. Awesome condition. It seems to have gone up quite a bit in value over the last several years...are the nada values realistic? Is it really worth up to $31k (or how would I find out)?? I do not need to sell it from a financial standpoint. Only because I feel like I have too much stuff...don't use it...spend more time changing gas and oil than driving it...could be loved by another...

Thanks for reading and any advice you may have.

 

[Toms007]

Well, welcome back! All I can say is 1. If you don't have to sell, I wouldn't..........

I regretted selling my 64 coupe way back when, but there was no way I could keep it at the time. I did promise myself that I would buy another one someday, but when the time came the mid-years were out of my price range. I settled on a C4 and now own a C5. Neither one is close to the old 64 (not necessarily in a bad way). I'd still like to have another mid-year, but I'll have to hit the lottery for that to happen.

As far as value of your 81......I don't know if you would get that much for it today, but they are gaining value, so who knows.

 

[KANE]

Just my perspective

Unless it has something that makes it really desirable for collecting- such as rare AND sought after options... I'd say just keep it and drive it. Better the devil you know than the one you don't. Also- I doubt you'd say "I wish I never drove it" after racking up 6k fun filled miles.


Just my $.02... but I don't want to look back later in life and say "Gee, I wish I'd done ___ (insert whatever) more".:ugh

It is a car- it's likely not going to be a spectacular investment. That's what metals and stocks are for.


Years ago, I made a commitment to myself to limit the money I spent on my recreation cars. I have a ceiling of $8k-$10k as the max I want to spend when buying one. Why so low? So that I pick up only drivers... and enjoy them. My wife always said that you don't use the bed of a pickup truck until you scratch it. The takeaway is that if it isn't perfect- you're more likely to use it than to enshrine it.

I also make sure my recreational car fits my life- not the other way around. Which is why I don't have a Vette now. With the squad of kids I have- I needed something with more seats. I'll get another Vette later... but for now, I have what I'm supposed to have. And most of all... I'm enjoying it.

 

[KANE]

Just a quick add...

I totally understand the part about having small kids. At the end of this year I'll have 4 under age 7!

And for what its worth... after building two restomod Vettes... would you believe it's my bone stock Trans Am that really gets noticed- and gets a magazine article? Go figure. :L




I guess with the low mileage you have it is like having a new car. I'd just go out and enjoy it. You only get one trip through life!

 

[bill81vette]

1st welcome back!!!!!

I do have an '81.Its not a low mileage,/or 4spd\,but
it is MY 1st vette and I don't think I will part with it.
I love the looks of the 80-82 vettes,and the fact that they can still be worked on by the home grown mechanic!
I am beyond the raising kids stage and currently waiting for Grand-kids
within the next year???I'm told.
I understand you dilemma between having a sports car and raising kids.
just my .02 Good Luck!!!

 

[Huskerman]

It's a tough call but if you love the car and don't need the money for the family, I would keep it. I had a beautiful 63 roadster I completely restored and felt I needed to sell it also to put money into my business. I also had young kids and we needed a better car and work done to the house.....you know....It was a justifiable sell but now I wished I had figured something else out.

Like Tom said I did not know how hard it was going to be to ever get another C2 back again and I suspect I never will. If you don't have to sell your C3 I wouldn't. On the other hand if you do keep it, drive the thing....you and Momma will need some breaks from the kids from time to time and you can use the Vette as your freedom machine.......I wouldn't keep it to store it.

 

[Vettehead Mikey]

.are the nada values realistic? Is it really worth up to $31k.

Just for fun, I checked on the Nada site- says my '73 is worth $59,000. I'd be lucky to get a third of that on a good day. :eyerole

 

[Toms007]

Yup, what Huskerman said, DRIVE IT!

 

[Toms007]

Bill, yours isn't a garage queen? Dang you had me fooled.


I can vouch that Bill DRIVES his!

 

[lytemup]

thanks for all comments and welcome back. lots to think about! perhaps I need to see how the summer goes, my 2YO did love riding in her car seat in it last year!

 

[bill81vette]

you will be able to raise a new generation of corvette lovers!!!!

 

[Yoda]

Welcome back

"The nada values realistic? Is it really worth up to $31k"

That value is good for Hagerty Insurance and that's about it... Sorry to be bearer of bad news, but you car may fetch around $17,000 ~ $19,000 and that is because of the low mileage and being a 4-Speed Unless it is show room and you know someone at Barrett Jackson that would waive the commission and run it across the auction block for ya

I also have a1981 4-Speed mine has 73,000 miles. I am very intimate with every square inch of RARE :L It is like a brand new 1981, I drove it from Modesto CA to Bowling Green KY twice, CA to Auburn, IN once, Amarillo TX to Colorado Springs, Amarillo Bowling Green and several other events since I restored the ole girl :dance The options on mine are rather different, I'd say rare but, save the argument, I say they make one scratch their head...

Ok back to the price... Hagerty will insure up to NADA value or very close. Rare is insured for replacement of $28,500... HERE is the reality... I have toyed with selling my 1981 the past 6 years or so... I was asking $17,500 and can document the mileage, ownership, dealer delivery, optiins original window sticker and dealer invoice/build sheet the original build sheet is still on the top of the gas tank I also have about 12 pages in EXCEL of every maintenance and penny spent on the car along with paper receipts to back up the EXCEL Spreadsheets.. OK with all this said, the most I have been offered for RARE is $15,000 and that was about 6 years ago when there was still a bit of disposable income out there. Most Recent offer was $12,500 ..

There are a LOT of C3's out there and a lot of them sell for around $8,000 ~ $12,000.. I still follow the prices on Ebay and check Corvette Sales Mags...

I have told way too many people... go ahead and buy a $10,000 1981 Corvette and I will bet you by the time you get it in the same condition as mine you will have another $8,000 to $14,000 in it to have it near the condition of my 1981..

I would go out to the shop and fire the ole 1981 up right now and feel comfortable heading to either coast or across town...

The last two years I have put less than 15 miles on the 81 (as the kid told me at the State Safety Inspection) ... "Mr. Dougherty do you know how many miles you put on this car last year... Me: no idea You put 14 miles on it last year, man that's a shame... if I had this beauty I would be pimp'n all day and all night in her"

I would like to see someone enjoy my 1981, but in a good way not out there beating the snot out of her... If the right person offered the right price I could let it go, but until them I'll continue to sound like a broken record about the price verse' value to the low ballers

Bud

 

[73-81 BST]

1st car 67 cougar traded for a 240z....chalk that up to stupidity
traded z-car for 73 vette - life long Corvette Fever
traded 73 for 82CE sold to pay for college.....
later found an 80 indy pace car TA and bailed a buddy out and bought his 81vette...

25 a Vette and a TA....every REDNECKS dream

Then life changed.

TA is the best engagement ring made
81 vette ended up being a down payment on a house.

Fast forward 10 years, my son finds old picture album and asks "Dad where are all these cars now?"

IF YOU DO NOT NEED THE CASH....DO NOT SELL YOUR FIRST ONE.....You wil never get it back....

My son and I are working on a 82 now and I am enjoying every minute, but not a day goes by I wish I had my Cougar and 73 vette back......

STW

 

[6880 Mike]

..are the nada values realistic?...

No.

...Is it really worth up to $31k...

Regrettably, no. Sounds like a nice 81 just the same.

 

[i10fwy]

Keep it, There has been several times I have sold a vehicle only to regret it later. So, I agree with the others, if you don't have to sell it, keep it.

 

[minifridge1138]

Keep it.
Drive it.

Believe it or not, it really is that simple.
Life tries to make things more complicated than they really are.

I understand wanting to keep it from getting hurt, but (not to offend you) there's nothing special about a 1981 Corvette (I have a 1982 and there's nothing special about it, but I love it anyway).
Don't be afraid to use it to go get groceries, or random errands.

Enjoy it.

 

[Gohot]

What you have is a savings account that can't be easily accessed. One thing I would do though is either NOT drive it OR REPLACE those ORIGINAL tires........... they are a bomb just waiting to destroy your bodywork in the event they let loose................. I think you'v probably thought of that. DON'T risk it........

Otherwise, it's paid for, you owe nothing, and were times to get rough, it could be liquidated then in a couple weeks or a months time. Once your kids get grown some, and they're spending the weekend with Grandma or Grandpa or Aunt Happy, you can take a weekend day trip to somewhere nice. The kids will not remain little long, believe me...! The other thing you could do is trade it for something which takes less room to store, something which would hold its value, again, that 'savings account' that can not be readily blown, but must be thought about to access. An 81 is nothing particularly unique, other than next to last body style. I believe the next collectors will be the C3's as the C4's are still not that desirable due to the fact there's a million of them out there cheap. But ultimately a person falls out of love with stuff over time and the reasons to have the stuff changes and seems less important. You are in that place right now. Wise thinking would tell you it will increase in value if you at least maintain it. But if that is of no interest to you, it will deteriorate over time, and that will offset the value of the 'Collectible' aspect of it.