I agree with those above. You should pass it to him when you know he is ready. Be it when he graduates, or when he buys his first place with a garage. I'm sure that is why it was left to you, because he knew you'd do the right thing.
Maybe he thought you'd appreciate it more because you worked on it with him. Personally, I'd keep the car. He gave it to you for reason. I'm sure his son got many sentimental things as well.
Thanks for the killer advice from everyone, I can see we have a great group of people on here. I have decided to give it to him after he graduates. He and his fiance (spelling?) are planning on buying a house in Austin around x-mas next year. When they do I will give it to him for a x-mas/house warming present under the condition that if he ever needs the cash for selling it that I will be the first person he asks no matter what gets offered for it. He is a good kid and I know he can be trusted with it. He had a lead foot as a teenager but he is doing real well now. And since he will be living in Texas too we can get together for shows and races. I will be going to Oahu end of October to get the car put in a container for shipping. So it should show up in Cali on Nov 12 and I will be driving it from there to Texas. Anybody want to do a road trip? Should be fun I know I will use alot of fuel, but the car has always ben a reliable gem and I cannot afford the extra 2K to have it trucked from Cali to Texas.
Thanks for the killer advice from everyone, I can see we have a great group of people on here. I have decided to give it to him after he graduates. He and his fiance (spelling?) are planning on buying a house in Austin around x-mas next year. When they do I will give it to him for a x-mas/house warming present under the condition that if he ever needs the cash for selling it that I will be the first person he asks no matter what gets offered for it. He is a good kid and I know he can be trusted with it. He had a lead foot as a teenager but he is doing real well now. And since he will be living in Texas too we can get together for shows and races. I will be going to Oahu end of October to get the car put in a container for shipping. So it should show up in Cali on Nov 12 and I will be driving it from there to Texas. Anybody want to do a road trip? Should be fun I know I will use alot of fuel, but the car has always ben a reliable gem and I cannot afford the extra 2K to have it trucked from Cali to Texas.