Simply what the title says. Say someone offers you a mid-80s Rolls Royce, low miles, in fine operating condition. Only catch is - you have to keep it, at least for a couple years, rather than just turn around and sell it.
Me - no, solely because I don’t think I could fit my upright bass in it, and wouldn’t want it to take up as much room in the garage. If I had a bigger garage and could keep 3 cars…
I can’t afford the gas, insurance and upkeep on a junkyard special so no.
The cost of 3 years long term parking is going to be a fraction of the selling price, so of course. If you enjoy driving luxury vehicles that becomes a bonus, but there’s virtually no downside in accepting.
I’d accept it and drive it. Maybe I’d sell it eventually, maybe I’d keep to be buried in.
I don’t keep cars in the garage except for my wife’s car when it snows (and then only until the driveway is cleared), so that’s out.
I might be willing to drive it for a couple of years for the novelty of it, but expect that the expense of maintenance and repairs would make the novelty quickly wear off.
I got rid of a 1992 BMW in 2004 because I got tired of the incessant, expensive repairs. (The BMW was a joy to drive, but its reliability was atrocious.)
I expect that owning a 1980s Rolls in 2020 would be a much, much more expensive proposition than my old BMW. The only reason I’d even consider it now is the novelty of owning a Rolls (as I mentioned), and the fact that I’m now in a much better financial situation than in 2004.
This offer is the very definition of a white elephant.
Egads! No! Ugly af, costly to maintain, a big heavy behemoth gas guzzler.
From the 80’s? No thanks.
Early 1960’s or older in mint condition and I would, for sure.
Sure, I’d park it out back, put it on blocks, place a car cover on it and pay storage insurance only on it until it was time to sell. The only work I would do is make sure the battery was charging and turning over the engine for a couple of minutes about 4 or 5 times a year. Then sell it for a tidy profit when the obligation to own it runs out. Hell I’d have a buyer lined up a couple of months ahead of then I would think no problem.
Do I have to pay a gift tax? Or does the person giving it to me pay that? Because that changes the equation.
I could imagine just driving it into the ground, then when it dies, selling it for salvage. Could be fun for a couple of years. My younger dtr is considering just that. (The car is my FIL’s.)
FWIW - an average used Rolls is not as expensive (to buy!) as you might imagine.
That’s a good point. I just looked on one of the auto sales websites. 1984 Silver Spur with 73,000 miles, listed at $19,900. How much might get after having to deal with such a car for two years? Not enough to justify the trouble.
That’s right in the ballpark.
1970’s? Yes. They looked nice. 1980’s? No. They were unfathomably ugly and bought by people with more money than taste. Now they are cheap enough to be the province of people who have neither. Any decent $10,000 used car today will be infinitely more comfortable and better in every conceivable way.
I just looked it up, and you’re right. It depends on the model, but a mid ‘80s Silver Spur (for example), goes for about $20K to $40K.
What do you get for that? A old, heavy, gas-guzzling vehicle with no safety features (not even airbags). The only thing it has going for it is the luxurious aspect of it, but that would be largely overshadowed by the age of the vehicle. If you like old cars, it would be attractive, but I don’t particularly, at least not for my daily driver.
I probably would. I’d put liability-only coverage on it. I don’t currently have a car. I’d park it on the street in front of our house. Some of the juxtapositions (incuding but not limited to simply seeing me get into or out of it) would be fun.
Yeah, maybe that. I have an extra parking spot in a garage so storage wouldn’t be much of an issue for me. But while it is technically free money (I’m sure I’d turn a profit), whether I’d want the minor hassle of keeping, insuring and lightly maintaining the thing for a couple of years is another matter. Because it would not be anywhere near life-changing free money for me and I hate minor hassles. And I have not much above zero interest in a Rolls in of itself - I don’t particularly care to drive boats like that.
I’d might take it but have mild “buyer’s” remorse afterwards. On the wrong day I also might just say no.
Yeah - that’s the way I feel. Would get a kick outta wheeling up to the golf course in it a la Al Czervik, but I think it would get old fast, especially switching from my current GTI.
Well put.
If I cleared $15K it would go far towards putting a new deck and driveway on my house. Not life changing but definitely worth my time.
My 87 year old neighbor has a 2007 Mercedes Coupe parked in his back driveway with a cover on it for over 5 years now and he basically does as I describe. Now I could turn my nose up at him as I serviced my Rolls, that is until he brings out his 1946 Indian Chief and kickstarts it. Hell up to 3 years ago he still drove it around the block.
I’d take it. I’ve got plenty of room to park it and whenever I could I’d sell it.
I spent a weekend being driven around in an 80s Bentley a couple of years ago it was pretty comfortable. Of course I had to be driven around in it since I couldn’t fit behind the wheel. Two friends and I were given the car as a loaner by a wealthy friend and two of us we 6’6"+ while the midget was 6’1" he was the only one that could drive the car so we ended up with a nice car with plenty of room in the back and an included driver. I’d guess the Rolls has a similar driver’s position.
Huh. I had a '92 beamer that I drove for 14 years. Yes, toward the end some expensive things started breaking like the suspension, but before that I found it extremely reliable. Basic 325 with a manual shift and it was fun as all getout.