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Sell car or keep as an investment?

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Sell car or keep as an investment?

Old 06-13-2014, 08:29 PM
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Default Sell car or keep as an investment?

I had a post a couple of weeks ago about a car I purchased from an estate and I'm looking for some advice from someone that knows more about cars and their value than me.

The car is a 1997 Lincoln Mark VIII w/ less than 18K miles. The car has spent it's whole life garaged, it had TST rust proofing when the car was new, it has every option that was available back then. I had the car put on a lift and it's clean as can be without a spec of rust. The pearl white paint is in new condition and the interior is like new, it's essentially a new 17 year old car. The air ride suspension was serviced @ the dealer before the car was in the estate sale so no issues there. I have put 100+ miles on the car and everything works perfectly including the climate control & A/C system.

The only things I am planning on doing with the car is to put a set of factory wheels back on the car. There is a paint chip on the front of the car I am going to touch up and then I'm going to wax it. I was going to have it professionally detailed but there really is no reason, it can't get much cleaner.

My cousin owns his own repair shop and he does car restoration's. I took the car to him and he said I should store the car because it will be worth more in 10 years than it is now. His thought was how many 1997 Lincoln's w/ 18K miles can there be? With taxes I paid less than $6K for the car and I was already offered $8K that I turned down. The offer came from the owner of a local Ford dealer and he told me if I change my mind to let him know.

The questions in my mind is should I take the $2K profit and run or would it be worth storing the car as an investment? I don't need the money but a 33% profit in 2 weeks is pretty hard to pass up. The places I have called looking for wheels have told me they are a pretty rare car since there wasn't that many sold. I think this car listed for around $45K back in 1997 and at the time it had about the same HP as a Corvette. I understand that being rare doesn't mean it's collectable or it will increase in value hence my dilemma of keep or sell.

Since I don't know who else to ask I'm hoping to get some accurate advice from THT members. What say you?

Russ
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Old 06-13-2014, 08:33 PM
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As the song says. Take the money and run
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Old 06-13-2014, 08:34 PM
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Take the money. It is not a particularly attractive car and I can't see it ever becoming a classic.
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Old 06-13-2014, 08:53 PM
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Take the money and run like you just peed on an electric fence.
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Old 06-13-2014, 09:19 PM
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Originally Posted by kevincook View Post
Take the money. It is not a particularly attractive car and I can't see it ever becoming a classic.
X2
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Old 06-13-2014, 09:29 PM
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Sell it.
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Old 06-13-2014, 09:36 PM
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Ok so far unanimous to sell it. From what I've saw from previous sales I think the car is worth $10K-$12K. I may call Tim the dealer owner that offered to buy it and see if he would go up to $9K.

Take the money. It is not a particularly attractive car and I can't see it ever becoming a classic.
Seems like people either like or hate the style. I didn't see any info on line that would make be think it will become a classic either. Personally I have always liked the style and especially I like the way interior curves around the driver. If I keep it I will have a hard time not wanting to drive it. It's a great car to drive, the seats are more comfortable than my wife's Cadillac and it even rides better.

Thanks so far guys.
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Old 06-13-2014, 09:36 PM
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Originally Posted by Blacktip6 View Post
Take the money and run like you just peed on an electric fence.
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Old 06-13-2014, 09:41 PM
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4.6 modular V-8, 290hp- nothing special. Only highlight is that it'll accept the same mods/parts that a Mustang will (except for headers, I think).

Nothing special about the design, either. KBB high is in the $3500 range.

Sell it and move on.
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Old 06-13-2014, 10:49 PM
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Its redeeming factor is the low miles, otherwise they are not that desirable. You paid 6k, and have an offer for 8k . . . store it for ten years, and get 8.5k. Take the money and run!

The issue here is that some cars are destined to be classics, and some just get old. This is the latter.

Not trying to sound harsh, just realistic.
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Old 06-14-2014, 12:33 AM
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Sell it.
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Old 06-14-2014, 03:05 AM
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Heave Hoe.
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Old 06-14-2014, 03:13 AM
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Originally Posted by kevincook View Post
Take the money. It is not a particularly attractive car and I can't see it ever becoming a classic.

I agree


Maybe 50-60 yrs from now it MIGHT be worth something but I seriously doubt it

Way too many produced and not a very popular car on top of that

If that that was a serious offer at 8K, I would already have that check in my hand, I would have thought more along the line of $3-4 K TOPS
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Old 06-14-2014, 03:27 AM
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Sell it, none of my son's teenage friends were interested in that type of car. We were lucky to find someone similar to yourself that always wanted one and ended up buying ours. If you can make money off it and have no desire anymore to drive it around then let it go.
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Old 06-14-2014, 03:55 AM
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Drop it like its hot
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Old 06-14-2014, 04:14 AM
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Finding the few buyers who that sled would appeal to is your problem...

I did the same thing with a low mileage Solara convertible...but drove it and used it sparingly for a year and a half and made a few bucks and moved on.

There just isn't anything special about that Lincoln to get anyone excited about.
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Old 06-14-2014, 04:16 AM
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That car is as fugly as it gets. If you can find some sucker to pay you twice what it's worth, sell it to him.
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Old 06-14-2014, 04:20 AM
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Neither. Drive it. Where are you going to get 150000 more miles for 8000 bucks?
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Old 06-14-2014, 04:26 AM
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I would've never bought it in the first place.
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Old 06-14-2014, 04:35 AM
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Originally Posted by Afishinado View Post
I would've never bought it in the first place.
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