Would you sell this mint 66 Fastback (pics included) for the new GT500?

[Tokey]

I have a all original (including interior), numbers matching, 66 GT Fastback that's in pretty good condition with only 2000 miles on rebuilt motor - basically we drive it about 500 miles a year on the most perfect of days.

I'm debating selling the car to get the new GT500. I'll still be able to get the GT500 if I don't sell, but I won't be paying cash and I really didn't want to take out the loan if I could help it.

What would you guys do? I kind of think I would be an idiot to sell this, but the wife wants one or the other - not both.

Here's where all 24 pics are posted if you want to see more:

http://www.jonanddawn.com/66mustang/

And here's a few to show the condition of the car:

 

[03 SVT VERT]

Personally, I would never sell a classic car for a new car. But, I was once told by a friend who is a multi-million dollar car collector, "Don't marry the car." Meaning, if a good deal comes up or you see something else you like go ahead and try something new, don't hang onto a car for any other reason then you enjoy driving it.

 

[SVTdriver]

While I really like the shelby. I'd say your crazed to give that car up for it. I sold mine because I didn't have time to work on it. And would rather let someone else have it. Than watch it rot away. But I wish I would have been able to keep the car.

 

[Rock36]

+1

While the new Shelby is cool. It isn't a classic. Keep the 66.

 

[GNN60GT500]

I could sell my 66 fastback right now and do what you are doing- but Im not-

the new Shelby for all intensive purposes does everything better then my fastback-

but I dont care- no new Mustang can match the feeling of driving a classic

 

[GNN60GT500]

I could sell my 66 fastback right now and do what you are doing- but Im not-

the new Shelby for all intensive purposes does everything better then my fastback-

but I dont care- no new Mustang can match the feeling of driving a classic

 

[LIZARDKING]

I love the early Mustangs, my folks bought a new one in 67, thier first new car. Our family owned it for over 20 years. It became a family member, I saw America from the backseat of that car, it was tough when it came time to sell, but we got over it.

Time marches on, I wouldnt own an early one now. I enjoy the creature comforts of the new cars.

If a new GT500 is what you want and you will enjoy it, I say sell the 66 and dont look back.

 

[COBRA90GT]

Tempting, but no way I'd give up a classic 'stang like that! Keep it.

 

[brands5.0]

I would keep it . Look at it this way you'll be able to buy shelby for the next couple years. But if you sell and want ot replace your 66 in a few year how hard and $$$ would it be.. Sheblys WILL go down in price over the next few years and many people will be upside down in them and you might be able to buy a 2007 GT500 in a few years with low miles for a good deal high 20 to low 30's

 

[Rexfelis]

Wow!

Damn, that's a nice '66!

I wish we could get my wife's '66 (coupe) looking that nice!

Sadly, though, while I appreciate nice cars, I'm worthless when it actually comes to working on them...

 

[iskwezm]

I would NEVER sell mine to replace with a off the lot dime a dozen GT500, yes it is nice, but you cant replace what you have now.I had to sell my other toys for my 06GT.

View attachment 456071

 

[The Fang]

Only if you get a 100k or more!

 

[shooterm1]

Playing the devil's advocate . . . . . . . .

I have a all original (including interior), numbers matching, 66 GT Fastback that's in pretty good condition with only 2000 miles on rebuilt motor - basically we drive it about 500 miles a year on the most perfect of days.

I'm debating selling the car to get the new GT500. I'll still be able to get the GT500 if I don't sell, but I won't be paying cash and I really didn't want to take out the loan if I could help it.

What would you guys do? I kind of think I would be an idiot to sell this, but the wife wants one or the other - not both.

since you are getting it out only about 500 miles a year "on the most perfect of days" and that you should be able to bank a few extra bucks (if the sale goes well) ,,, I say go for it!!!

But promise me that you'll drive it on more than the most perfect of days! Or at least move to California.

​

 

[351CJ]

I'd wait until GT-500 prices tank.

Then and only then, sell your 66 and get a GT-500.

 

[roboto1720]

SWEET !!!!!

Both of those old fastbacks are SWEEEEEEEEEEEEET ! I'd like have both of those!

 

[RICKS]

Not to be overly harsh, but your wife is being extremely short-sighted.

She's thinking of your '66 GT as just a car. You both are totally discounting and ignoring what the '66 GT has done for you as a long-term investment. You're both ignoring the fact that it's making more money for you, sitting in your garage and driving that 500 miles a year, than cash would make in a high-yield money market or investment account.

Don't get caught up in the "oh, we've got too many cars" cliche'. That only applies when you've got too many NEW cars hanging around, costing you insurance, and costing you depreciation...

Your '66 is making money just sitting there, and the market is not showing any signs of slowing down. Keep it, you can have your cake and eat it too, because...

The amount your '66 increases in value each year, is more than enough to pay the INTEREST on the money you finance on the GT500, which in effect, means you ARE paying cash when you keep the '66. You can consider it 0% financing, by applying the appreciation of the '66 to the GT500 payment.

I'm just doing sloppy math in my head, assuming that you do have $15-20K to put down on the GT500 in the first place.

If you did sell your '66, I'd take 100% of that revenue and put it back somewhere where it'll continue to make money, sharp investments, another collector car, anything.

You need to treat your '66 GT as a retirement account, not as a car, and get over the "stigma" of it being a car, which the ladies sometimes very unwisely just discount as "toys", not realizing that they are lucrative toys to have.

 

[shooterm1]

Not to be overly harsh, but your wife is being extremely short-sighted.

She's thinking of your '66 GT as just a car .....

> reasoning with a woman - by proxy - /// over the internet ????

yeah, good luck with that

 

[RICKS]

> reasoning with a woman - by proxy - /// over the internet ????

yeah, good luck with that

Hey, posting on internet forums in general is a waste of what could be far more productive time, so, what the hell, I gave it a shot!

 

[luvthatstang]

I would wait a while before deciding whether to buy the GT500. It won't be long before we start hearing from the new owners of the Shelby and we'll find out how good it really is. You may decide that your gem is sitting in your garage. Wouldn't it be awful to find that out after you sold it?

By the way, that is a beautiful car!!!

 

[AdamantiumKnot]

Keep the '66.