buying a GT350H in the late 70's

[Steve McDonald Formally known as Mcdonas]

I had purchased car 1431 in 1971 and in 1978 had a chance to purchase another GT350H, this one was 1855. found some of the paperwork from the purchase.
It took two years to pay it off at 23 payments of $99.11. My oh my, times have changed
We sold it for $5,000 to buy our first house, should have kept it.

[deathsled]

You can't drive a house but you can live in a car....  (Unless it is a motorhome).

[J_Speegle]

..........We sold it for $5,000 to buy our first house, should have kept it.

Pretty good money and profit for a used 66 Shelby especially a GT350H, given what someone likely paid for it after they were used as rental cars. in 1966/67

We can never go back except in our memories 

[NC TRACKRAT]

Wow! 15% interest rate!  That was a bad time to finance a car.

[FL SAAC]

Wouid you like to double your original investment?

Payment can be made in cash or crypto currency, your choice.

Please advise and kindest regards

[Steve McDonald Formally known as Mcdonas]

Yes, even our house had a 12.5% interest rate. My brother always reminds me of the "one that got away" in 1973. CSX2027, $3500 and my 66 H car, it had 14,000 miles on it, Webbers in the trunk, 2 AFB's on a retrofitted 289 (car was an original 260).  I had most of the money and my brother offered to loan me the extra $1500 at no interest. Didn't get it because it had no roof or heater.. Also turned down a 1969 GT500 maroon with white interior, had a leaking worn carb and they wanted $5000 in 1979 and a 1968 GT500KR convertible white for $600 ( his girlfriend was pregnant and he needed money for the wedding) in 1974  Dumb mistakes we made in our youth

[deathsled]

You don't know how much that hurts to read your post on CSX 2027 for $3500.00

[98SVT - was 06GT]

the "one that got away" in 1973. CSX2027, $3500 and my 66 H car......

Cobras (until the 1990s when the rocketed up) were always just over the horizon of available cash. Once you have enough $ they moved up faster than your disposable cash. There was one guy in COCOA who had a specific amount he put away each month for a Cobra. He finally bit the bullet and bought a red 427 continuation. He basically said it's about the fun of driving it and he realized if he had an original it would sit in the garage more as artwork.

[Steve McDonald Formally known as Mcdonas]

Maryland National Bank offered10 year financing in  the late 70's saw a deal for Cobra for $20,000, would have been 10 years at $200 per month. Wife decided having kids was more important, she was wrong as none of our kids like cars

[mark p]

Maryland National Bank offered10 year financing in  the late 70's saw a deal for Cobra for $20,000, would have been 10 years at $200 per month. Wife decided having kids was more important, she was wrong as none of our kids like cars

... even when they were little? 
Our - now adult - kids have little interest at this point as well, they are all big city dwellers. But back in the day - they used to argue over who got to go with me to the autocross or car shows (since only one passenger spot).

[67 GT350]

Maryland National Bank offered10 year financing in  the late 70's saw a deal for Cobra for $20,000, would have been 10 years at $200 per month. Wife decided having kids was more important, she was wrong as none of our kids like cars

... even when they were little? 
Our - now adult - kids have little interest at this point as well, they are all big city dwellers. But back in the day - they used to argue over who got to go with me to the autocross or car shows (since only one passenger spot).

Kids do not care when they see all the "care" that goes into a car. Another problem, manual trans. I wonder if you bought a 2021 toyota and took care of it, if one's kids would care about it in 30 years? (we know it would be around and driving)....

When did this all start, with kids not giving a crap about cars?

I think 2 reasons. Barret Jackson, the year 55-57 T-Birds were going for 175K, 70 Boss 302's were going for 200K, when 67 shelby's were going for 300K, and these kids saw the parents smiling at the thought of their car's value.
AND
the comeback of the newer Shelby's....(buy it, beat it, put it away wet, destroy it, put it in the garbage and buy another one to beat)

One man's opinion- Micheal Savage.

[427hunter]

Maryland National Bank offered10 year financing in  the late 70's saw a deal for Cobra for $20,000, would have been 10 years at $200 per month. Wife decided having kids was more important, she was wrong as none of our kids like cars

... even when they were little? 
Our - now adult - kids have little interest at this point as well, they are all big city dwellers. But back in the day - they used to argue over who got to go with me to the autocross or car shows (since only one passenger spot).

Kids do not care when they see all the "care" that goes into a car. Another problem, manual trans. I wonder if you bought a 2021 toyota and took care of it, if one's kids would care about it in 30 years? (we know it would be around and driving)....

When did this all start, with kids not giving a crap about cars?

I think 2 reasons. Barret Jackson, the year 55-57 T-Birds were going for 175K, 70 Boss 302's were going for 200K, when 67 shelby's were going for 300K, and these kids saw the parents smiling at the thought of their car's value.
AND
the comeback of the newer Shelby's....(buy it, beat it, put it away wet, destroy it, put it in the garbage and buy another one to beat)

One man's opinion- Micheal Savage.

What does any of this have to do with the peek back in time Steve gave us on the purchase of 1855? Not every thread needs the "Debbie Downer" perspective. 

[67 GT350]

I was responding to this part.

".. even when they were little? 
Our - now adult - kids have little interest at this point as well, they are all big city dwellers. But back in the day - they used to argue over who got to go with me to the autocross or car shows (since only one passenger spot)."

This is what is sad. I wish todays kids could have the happiness and enthusiasm that some of us older people had back in the day. Thats all. I did not know I was not allowed to comment on a part of a post.

[JBinAlabama]

THIS is a great read guys!
I've been in the same boat for years......always just out of reach.
About 12 years ago I gave up on an original cobra and bought a backdraft.
It's been a fun toy. My son will turn 20 in October. He has quite a bit of wheel time.
He likes cool cars.
I switched insurance to Hagerty, they won't even let him drive the backdraft with me in the car too😂

We just did a road trip to buy a 66 gt 350 this week. It will be his inheritance and he is stoked!
Most of his friends know zero about old cars.
It makes me wonder about the future value as an investment in our throw away society.
He is about to help me track down all the missing pieces.
Should be a cool father son event.

[gjz30075]

"We just did a road trip to buy a 66 gt 350 this week. ......"

In a different thread, I'd love to hear more about this story.