Need Serious Advice

mdjay · Feb 28, 2006

StangDreamin' said:
First; ask yourself these questions:

Is this company car "permanently" yours?
What are the company's policies on use other than company business???
If somebody t-bones you as you're taking the kids to work, are they covered under the insurance? Yes, your car's insurance!
You'd be surprised how many times the other guy's insurance will balk, and who's stuck with the hospital bills?
What's the company's policy on taking the car to the grocery store? The ball game? The local Pub?

If you can live with the answers to these simple questions; then by all means, dump the cash into the '67! You don't need another car payment and the late-model will be all that and soon-to-come mechanical repair bills. Like Worth said, the '67 will be much less expensive to repair. Also, you won't be tempted to make another "project" out of the late model - like I heard somebody admit to doing with their "new" DD on another thread!

If you can't force yourself to live with the answers to these questions; well, I guess it's time to see how low you can haggle those payments on the late-model.

SD brings up some very good points here. However even with the work truck just being used to and from work, it takes a very important load off. Sink it into the 67.

I have to agree with Worth on the dependability issue. These cars are pretty dependable. Especially if it's completely restored from the get go. If not, it can nickle and dime you from time to time but it generally is cheap to maintain. The 95 on the other hand will tend to be a bigger strain to maintain.

If it comes down to needing a dependable daily driver and you don't get your work truck, I suggest putting the money down on a cheap gas, dependable, brand new car with a warranty! The 95 will just be another money pit and the 67 project can wait.

killer medic · Feb 28, 2006

Wow...

So many good points, I think my decision is even expanding to the possibilites, from buying a brand new car, to using the company car, to fixing up Missy (my 67 stang). All I can say is... thanks guys. It all helps tremendously. I am still waiting on the damn job for an answer!!!

TO answer your question StangDreamin', the car would NOT be permanently mine. I can take it home and drive it around. It is insured through the company (though the "going to the grocery store" scenario is a good point to look into). But if I leave the job, I lose the car of course. So it is something to think about. The prospect of a new car is a good idea with today's longer warranties. However, the looming car payments that can I would rather put into Missy's restoration is the real heartbreaker. I think I would have heartaches every month to plop $275 to $400 monthly on a car that will continually lose it's value, while I can put that into a car that will only increase in value. It's a matter of practicality vs. principality (sounds kinda cool)! Everything really hinges on what the job tells me, which is really starting to irk me, because I have been waiting on for a definitive answer since Thursday! So we will see.

Platonic Solid · Feb 28, 2006

mdjay said:
...If it comes down to needing a dependable daily driver and you don't get your work truck, I suggest putting the money down on a cheap gas, dependable, brand new car with a warranty! The 95 will just be another money pit and the 67 project can wait.

Though I agree the 95 is likely to be just another money pit, buying a new car is certainly not the answer for the budget minded. I managed to achieve all of your criteria when I purchased my son’s 2001 Ford Escort in 2004 (with 40,000 miles on in) for $5,000 out the door. I did spend an extra $1,000 on the, dealer offered, 3 years warranty (that covers all major malfuctions), but I will get that back in 3 years if no claims are put against it.

WORTH · Feb 28, 2006

killer medic said:
So many good points, I think my decision is even expanding to the possibilites, from buying a brand new car, to using the company car, to fixing up Missy (my 67 stang). All I can say is... thanks guys. It all helps tremendously. I am still waiting on the damn job for an answer!!!

TO answer your question StangDreamin', the car would NOT be permanently mine. I can take it home and drive it around. It is insured through the company (though the "going to the grocery store" scenario is a good point to look into). But if I leave the job, I lose the car of course. So it is something to think about. The prospect of a new car is a good idea with today's longer warranties. However, the looming car payments that can I would rather put into Missy's restoration is the real heartbreaker. I think I would have heartaches every month to plop $275 to $400 monthly on a car that will continually lose it's value, while I can put that into a car that will only increase in value. It's a matter of practicality vs. principality (sounds kinda cool)! Everything really hinges on what the job tells me, which is really starting to irk me, because I have been waiting on for a definitive answer since Thursday! So we will see.

Don't lose any sleep waiting for the JOB to call, I applied for a job in December, they interviewed me 3 times, I was just awarded the job 2 days ago and the start date is July 1 Isn't bureaucracy a wonderful thing???

krash kendall · Feb 28, 2006

WORTH said:
Don't lose any sleep waiting for the JOB to call, I applied for a job in December, they interviewed me 3 times, I was just awarded the job 2 days ago and the start date is July 1 Isn't bureaucracy a wonderful thing???

So the truth comes out as to why you're back all of a sudden! Then, like a theif in the night you'll vanish July 1st. When will we ever have the time to work out the logistics of the 90 degree retarded ignition, floating cylinder head, fast burning fuel powered engine we were designing a year or so ago?

WORTH · Feb 28, 2006

krash kendall said:
So the truth comes out as to why you're back all of a sudden! Then, like a theif in the night you'll vanish July 1st. When will we ever have the time to work out the logistics of the 90 degree retarded ignition, floating cylinder head, fast burning fuel powered engine we were designing a year or so ago?

LMAO, damn I had forgoten about that. If you want the short version,(it kinda blends right into this thread), after owning my own shop for 20 some odd years, my kids are all out of school, my house is built, I built my dream garage at home and my wife is making enough to pay all the bills I decided that I didn't have to agrivate myself with these computer controled nightmares that they are building for us now so I gave the shop to my lead mechanic and went into semi retirement last march.

I finally got time off during the summer on Cape Cod, I spent the entire summer playing with my 5 year old grandson, had a blast. We did much needed yardwork and even built a 15X20 fishpond with a waterfall

But at 53 I found out I'm not ready to retire so I started shopping for a cushy job. I was just hired as a maintanence supervisor for a local municipality that owns an Indoor skating rink and a seasonal trailer park. They're gonna pay me 40K, give me a crap load of benny's and I get to play outdoors instead of in a greasy shop

The only downside is I had to shorten out my car list a bit,(don't have the room at home that I had at the business). I'm down to the 69 coupe, 70 ragtop,46 pickup, 65 pickup, and I just picked up a 74 F-350. Now all I have to do is get the wife out of that damn computerized Grand Marque and into a nice Galaxie and I'll be in heaven

krash kendall · Feb 28, 2006

Great update! It's always nice to hear good news and stories. That sure sounds like a dream retirement job.

As I said in the other post with the photo of me and my son under the car, my wife is starting her practicum next week (nursing unit clerk) and will hopefully be employed shortly after, making more money than me. We will have to see how the benefits play out between the two of us. But, sort of like yourself, it will be nice to not be chained to this machine shop I run due to the burden of being the sole provider. I'm hoping to spend more time with my son and do a lot more flying - maybe become an instructor. I never would have thought at 34 I'd be considering a carreer change, but life should be dynamic not static. Hey, here I thought we highjacked the thread yet we've come full circle to starting new jobs related to lifestyle commitments!

WORTH · Feb 28, 2006

I'm old school so I never wanted my wife to have to work, so money was never in excess. But I made enough to have my toys and support the family, but now that Wicked is working and makes a decent paycheck all the pressure is off. And I found out that is a great time to look for work. Instead of being forced to take a job I was able to look around, talk to a few prospectives and decide what I WANTED to take. It was pretty funny interviewing for this job, instead of them interviewing me, I was interviewing them

The big bonus will be getting a paycheck that I don't NEED.

Can you say "unlimited auto parts"?

killer medic · Feb 28, 2006

Gee, that sounds so splendid... Here I am 28 years old with tons of responsibility and not even a garage. What a challenge!!!

WORTH · Feb 28, 2006

killer medic said:
Gee, that sounds so splendid... Here I am 28 years old with tons of responsibility and not even a garage. What a challenge!!!

ya but you live where a cold day is 50, there are pluses and minuses in all of our lives Around here today was 18 degrees, that's to cold for this old man , but I'll be heading down to your neighborhood April first, figured I take a nice long vacation while I have the chance I'll probably keep this job til I die and they'll only give me 4 weeks vacation a year

killer medic · Feb 28, 2006

WORTH said:
ya but you live where a cold day is 50, there are pluses and minuses in all of our lives Around here today was 18 degrees, that's to cold for this old man , but I'll be heading down to your neighborhood April first, figured I take a nice long vacation while I have the chance I'll probably keep this job til I die and they'll only give me 4 weeks vacation a year

Good point! By the way, 65 is a cold day...

WORTH · Feb 28, 2006

killer medic said:
Good point! By the way, 65 is a cold day...

LOL, we don't do long sleves til it hits 32. Actually the temp isn't the worst part, it's when it goes back and forth between 50 and 20 every other day. ya can't even figure out how to dress. I really don't mind the cold if it stays even, but I do like heading to the Keys once a year

Platonic Solid · Feb 28, 2006

killer medic said:
Good point! By the way, 65 is a cold day...

Geez, I didn't notice you were in Florida. Heck I'd drive an old stang every day if I had your weather. It's not like you'd be driving it in snow.

Yesterday morning it was 10º here. Lately I've really come to appreciate the remote car starter my girlfriend got me for Christmas.

killer medic · Feb 28, 2006

But keep in mind, when it gets hot here, it gets HOT. The humidity is a virtual steambath. It stinks because it makes the car difficult to keep cool. And don't forget... we have hurricanes. Always sucks to wonder if your home will be okay this year or not, much less your car! Experienced 3 of them in a little over a year. Thank God my pony did not incur any damage.

StangDreamin' · Mar 1, 2006

killer medic said:
TO answer your question StangDreamin', the car would NOT be permanently mine. I can take it home and drive it around. It is insured through the company (though the "going to the grocery store" scenario is a good point to look into). But if I leave the job, I lose the car of course. So it is something to think about. The prospect of a new car is a good idea with today's longer warranties. However, the looming car payments that can I would rather put into Missy's restoration is the real heartbreaker.

That's why I had put the " " around "permanently". Been there, done that; put a little bit of $ into an '81 Chrysler Cordoba company car once. Don't laugh, it was a freeway eating cruise-mobile, and it got better gas mileage (surprinsing for a Mopar 360) than my 406-powered F100 (okay, maybe that wasn't a surprise). The next guy got an awfully nice car when I quit for my new job!

The "new car" idea scares me anymore..... When the Generic Chevy Truck breathed her last gasp, my car-dealer buddy ran my credit and found I qualified for a brand-new 2005 F150 SuperCrew he wanted to get off the lot (December '05); but I freaked out at the prospect of another house payment Got a good deal on an '02 half-ton Super Cab 4x4 - only $342/monthly with a three-year Ford bumper to bumper Extended Warranty tacked onto the deal. So, if/when the 5.4 cammer spits out a plug or two, I stand a good chance of only paying $200; rather than the $3700 charge for replacing the heads

While you're trying to nuke this all out, don't just look at next year; look at 2009.

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