When we are old ! what to do with our Corvettes

[Roy B.]

For us I sold off a few to better our retirement > Sold three at auction to help out our three kids to get a better start in life. The few I have left will be sold at auction and put in trust for my grandchildren=( when I start drooling on myself ) remember we cant take them with us ?

[Kenny C.]

Re: When we are old ! what to do with our Corvettes

Not true
I saw a story recently where a gentleman in I believe Georgia had himself buried in his beloved Pontiac. His wife was none to happy about it, however he apparently had it all prearranged so she couldn't do much about it. The fluids had been drained and certified as clean and the tires removed. He was actually sitting in the drivers seat when placed in the hole. I tell my kids that's what I'm doing with my cars, maybe turn my plot into a junk yard or some other fitting tribute to a guy who has had his butt sticking out from under a hood his whole life.

[Steven S.]

Re: When we are old ! what to do with our Corvettes

Thats a waste of a good car IMO. Best thing in my mind is start looking for good homes for them and let another generation enjoy these cars. Perhaps consider it a little bit of your "legacy" passed on.

[Michael J.]

Re: When we are old ! what to do with our Corvettes

My son and daughter badly want my C2s, so no problemo, they will live on!

[Larry T.]

Re: When we are old ! what to do with our Corvettes

You bring up a point I have thought about a little bit. I am a relatively young man in the collector car hobby at 42. When I went to Bloomington Gold I felt like I was surrounded by all of my Dad's friends. He is 65. If most of the collector cars out there are owned by men or women that are say 55+, where will all of these cars end up in 15-20 years? Further, what will happen to the values? The children of a lot of collectors will be selling the cars for various different reasons. No interest, intimidated by the upkeep, to satisfy estate taxes to keep other things, etc. Will there be a glut of cars on the market? I seriously think we may have seen the top of the market for a majority of these vehicles. Even if there is another run up, the prices can not hold, can they? There will always be a special few that continue to rise, but many of the more "ordinary" vehicles may not see the values they have seen before until many of them are treated as though they are not cared for and there are only a few really nice ones remaining. Just one train of thought.

[Kurt B.]

Re: When we are old ! what to do with our Corvettes

My restored 68 along with my parts inventory has been promised to my son with the understanding that if he ever thinks about selling it , I will come back from the grave and kick his butt.
He is 32 and loves it as much as I do because when he was born, I brought him home from the hospital in it wearing a Corvette T-shirt, infant size.
Kurt

[Phil D.]

Re: When we are old ! what to do with our Corvettes

I was hoping that each of my cars might sell for enough to cover mabe six months in a really top notch nursing home. I hope that's still a good 50 years away but my doctor was shaking his finger at me today - darn triglycerides. If the BBQ gets me before my time tho, I'm sure my brother would take care of my Corvette at least since he's NCRS too. I don't have any kids to leave my other cars to and been thinking I need to make a will and specify what to do just in case. I've thought it'd be nice to leave them to favorite charities. I know I see charity cars on Barrett Jackson, but I haven't got anything that Barrett Jackson would be interested in, no big blocks or super rare whatever, just the kind of stuff you see at your local car shows. I just thought it would be kinda cool if like on BJ, people might pay even more than its worth just because its going to a charity and get their face on TV sort of thing. Gets the charity some advertising value too I suppose. Don't know if thats realistic on a smaller scale outside BJ or if it would be better to just leave instructions for a knowledgeable executor to liquidate and distribute the funds.

[Michael A.]

Re: When we are old ! what to do with our Corvettes

For us I sold off a few to better our retirement > Sold three at auction to help out our three kids to get a better start in life. The few I have left will be sold at auction and put in trust for my grandchildren=( when I start drooling on myself ) remember we cant take them with us ?

At 50 I hope this is more than a few years off for me, but it's never too early to start thinking about it. One of the big reasons I took my 18 year old son up on his idea to drive Route 66 in my 66 roadster is that I wanted to pass the love of the car on to him. I think it worked! He loves to take it out from time to time and I don't put TOO many restrictions on him. As much as I love my car, the sight of him driving off - occasionally with his sister at his side - is absolutely priceless. If I'm lucky I'll be able to teach a grandchild to drive it.... but there's no rush for that!!!! ;-)

Cheers,

[Michael J.]

Re: When we are old ! what to do with our Corvettes

You bring up a point I have thought about a little bit. I am a relatively young man in the collector car hobby at 42. When I went to Bloomington Gold I felt like I was surrounded by all of my Dad's friends. He is 65. If most of the collector cars out there are owned by men or women that are say 55+, where will all of these cars end up in 15-20 years? Further, what will happen to the values? The children of a lot of collectors will be selling the cars for various different reasons. No interest, intimidated by the upkeep, to satisfy estate taxes to keep other things, etc. Will there be a glut of cars on the market? I seriously think we may have seen the top of the market for a majority of these vehicles. Even if there is another run up, the prices can not hold, can they? There will always be a special few that continue to rise, but many of the more "ordinary" vehicles may not see the values they have seen before until many of them are treated as though they are not cared for and there are only a few really nice ones remaining. Just one train of thought.

Oh my, I hope you are right! I mean even at 67 (in ten years) who wouldn't want to buy a newly frame-off restored '66 425 HP 427 fully numbers matching wth all docs for under $50,000. I could love that future.

[Patrick H.]

Re: When we are old ! what to do with our Corvettes

I was hoping that each of my cars might sell for enough to cover mabe six months in a really top notch nursing home. I hope that's still a good 50 years away but my doctor was shaking his finger at me today - darn triglycerides. If the BBQ gets me before my time tho, I'm sure my brother would take care of my Corvette at least since he's NCRS too. I don't have any kids to leave my other cars to and been thinking I need to make a will and specify what to do just in case. I've thought it'd be nice to leave them to favorite charities. I know I see charity cars on Barrett Jackson, but I haven't got anything that Barrett Jackson would be interested in, no big blocks or super rare whatever, just the kind of stuff you see at your local car shows. I just thought it would be kinda cool if like on BJ, people might pay even more than its worth just because its going to a charity and get their face on TV sort of thing. Gets the charity some advertising value too I suppose. Don't know if thats realistic on a smaller scale outside BJ or if it would be better to just leave instructions for a knowledgeable executor to liquidate and distribute the funds.

When you go to a nursing home, you are allowed to keep three (3) things: 1. your home, 2. your car, and 3. $2000 in your bank account. The government is allowed to spend (take) the rest of your money to pay for your nursing home stay. I've specifically instructed my wife that "if" it ever looks like I'm going to head that direction, buy a home on the lake and a vintage Ferrari, and let Medicaid pay my way in the nursing home. No, I'm not kidding.

Seriously think about seeing a trust / estate lawyer and learn your options. I see way too many people who haven't a clue.

Patrick

[Jerry W.]

Re: When we are old ! what to do with our Corvettes

Vicariously....When it comes times for another day....The only things you get to Keep...Are the things you give away.....I gave the 62 to my son....He now has two vettes...We're doing a body off restoration now.....I haven't let go altogether :-)

[Terry M.]

Re: When we are old ! what to do with our Corvettes

Seriously think about seeing a trust / estate lawyer and learn your options. I see way too many people who haven't a clue.

Patrick

Excellent advice Patrick.

Unless you really dislike your heirs, in which case letting them sort out the mess could be the ultimate revenge. And NO, I am not kidding either.

[Joseph T.]

Re: When we are old ! what to do with our Corvettes

I was hoping that each of my cars might sell for enough to cover mabe six months in a really top notch nursing home. I hope that's still a good 50 years away but my doctor was shaking his finger at me today - darn triglycerides. If the BBQ gets me before my time tho, I'm sure my brother would take care of my Corvette at least since he's NCRS too. I don't have any kids to leave my other cars to and been thinking I need to make a will and specify what to do just in case. I've thought it'd be nice to leave them to favorite charities. I know I see charity cars on Barrett Jackson, but I haven't got anything that Barrett Jackson would be interested in, no big blocks or super rare whatever, just the kind of stuff you see at your local car shows. I just thought it would be kinda cool if like on BJ, people might pay even more than its worth just because its going to a charity and get their face on TV sort of thing. Gets the charity some advertising value too I suppose. Don't know if thats realistic on a smaller scale outside BJ or if it would be better to just leave instructions for a knowledgeable executor to liquidate and distribute the funds.

Take the triglycerides seriously and do something about it...don't wait!

No one makes it out alive..but no reason to check out early!

[Tom P.]

Re: When we are old ! what to do with our Corvettes

When I can no longer drive (safely), I'm going to take the 56 out into a field, pour gasoline all over it, put a match to it and that's it (seriously).
None of the 5 kids would, or could, properly take care of it, or they would sell it.
I KNOW a lot of Corvette owners, but do not have any Corvette friends (or car friends) that I would sell or leave it to.
I'm not particularly a charitable person, so that's out.
It won't even NCRS Flight (not even 3rd Flight), so it won't qualify for an NCRS member to have it.

[Stewart A.]

Re: When we are old ! what to do with our Corvettes

Tom that hurt reading that ! Pour fuel on the car and burn it. Ah your an angry man Tom. I kind of understand what your getting at maybe you should be buried in it that might be better than burning it. Or you could send it down under for me I will look after it and give it a bit of a thrashing every month just for you. Stewy