Classic car, would you buy this

littlebrooklyn

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Keith is once again looking for a classic car! He got scammed on eBay this morning and we nearly lost £5,000 eeekkk!

We saw this car and have phoned up about it but the one thing we are both unsure about is that it was restored 20yrs ago, although the interior has been done more recently.

We did find this one too that had undergone a full body off restoration a couple of years ago. I don't particularly like the colour of this one and it turns out someone has already put a deposit on it, so we can't have it anyway.

Now after seeing how much work went into the second car with the restoration we are a bit concerned that as the first car was restored 20yrs ago that it could soon need a lot of work doing to the bodywork :confused:
 
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Gkinghorn

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He is a glutton for punishment .... How come you Nearly got scammed?


==========================
 

drdre78

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always try and pay by card cos you can get your money back if you get scammed
 

Chrishazle

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Midgets can be rust traps, particularly sills but also wings. They're also not particularly comfortable - I had to drive my son's one from East Sussex to Southampton to put it on a RoRo boat to Australia - not an enjoyable drive! Wife was not too enamoured of it the few times she went in it as a passenger. ~Why not look for a grown up toy - like a 944S2 or 968 cabriolet?? For that money you'd get a really good 944S2 cab or a decent 968 cab!
 

cleverdicky

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If you like MG's, get an early one. (and I mean early)
 

47p2

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Never buy a classic from ebay without seeing it first

Pictures do not show the full story and vendors descriptions are often nothing like the actual vehicle for sale
 
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littlebrooklyn

littlebrooklyn

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He is a glutton for punishment .... How come you Nearly got scammed?



==========================

He is indeed a glutton for punishment. I told him when he sold the TR3 that he would eventually want another one, but he said he wouldn't! The scam on eBay was that the car seemed to be such a good price that it made us both wonder if it was too good to be true. Keith got a lot of paperwork through from eBay that claimed to offer him payment protection etc. and instructed him to transfer the full amount to them, but just to double check he phoned eBay and it seemed the paperwork wasn't from them, despite it looking very genuine. We've never used eBay to buy a car before and didn't realise that most people just pay a small deposit at the time of purchase then pay the remainder when they pick up the car.

If you like MG's, get an early one. (and I mean early)

Keith did look at a 1962 Mk1 but it was very basic and didn't even have windows that you can wind up. I'm not too keen on cars that are really old. When we had the big old Austin Healey it was a flipping nightmare as the exhaust was under the passenger seat and the heat from it was just awful, I had to sit in the car with my legs out of the way.

Seems that the older cars are also a lot of money and with the weather we have in this country there doesn't seem much point in spending out shed loads for a car that spends so much time off the road.
 

Mic

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Buy a drawing of the car you yearn for and hang it on the wall but whatever you do don't buy an actual ''classic'' car unless you have got thousands of pounds surplus to your needs.

Mic
 
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littlebrooklyn

littlebrooklyn

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Buy a drawing of the car you yearn for and hang it on the wall but whatever you do don't buy an actual ''classic'' car unless you have got thousands of pounds surplus to your needs.

Mic

Well Keith has this theory that classic cars are a better investment than putting your money in the bank. Right now I can't counter that theory as interest rates are appalling. As he was in a hurry yesterday to buy the car that was the eBay scam I decided it would be easier for me to use my savings and promptly emptied one of my ISA accounts, which I obviously can't use again, so if I put the money back into my other savings account it will only be earning some pathetic amount of interest. We did make a fair profit on the last two classic cars we had, far more than any savings account, plus we had some fun in them too.
 

Some guy on the internet

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The scam on eBay was that the car seemed to be such a good price that it made us both wonder if it was too good to be true. Keith got a lot of paperwork through from eBay that claimed to offer him payment protection etc.


Cars have never been covered by Paypal protection, it's buyer beware!

Better read up on the rule of ebay if you are going to be spending a chunk of money on a car advertised there - http://ocsnext.ebay.co.uk/ocs/home?

In a nutshell, ebay is an advertising medium the same as Autotrader & they offer no guarantees or warranties on either the car or your money, whether you pay in full or pay a deposit. Pay nothing until you have satisfied yourself on the deal - car & vendor.

P.S. If I was looking for one of those I'd be looking in a UK Healey or MG club.
 

antijam

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Well Keith has this theory that classic cars are a better investment than putting your money in the bank. Right now I can't counter that theory as interest rates are appalling.


A lot of people are currently thinking the same Lyn, but like any other 'investment' prices can go down as well as up. The poor returns on bank and saving accounts is fuelling the current boom in classic prices and many people who know nothing about the cars are buying all sorts of junk in the hope of a better return.

My garage houses a 1947 MGTC and a 1963 Daimler SP250, both owned for over forty years. In that time the values have been up and down like a whore's drawers. The current price boom means I'm sitting on (or driving in!) a nice potential pile should I care to sell, but I'm under no illusions that in a couple of years prices could have fallen through the floor again. Still, I bought them because, despite their limitations and weaknesses, I like the cars.

The very best examples of the very best classics can produce a good return - but unless you're carrying out maintenance and restoration yourself, second rate ones are just a money pit.

Sprite/Midgets are good examples of cars of their era - not very well made, not that pleasant to drive and prone to rust. Restoring one to first class condition will cost much the same as restoring an old Porsche or Lotus but it will never achieve the same value.

As Mic says, buy the picture and enjoy. If Keith still wants to scratch the classic itch, do check a potential purchase very, very carefully - there's an awful lot of (even 'fully restored') rubbish out there.
 

Frontstep

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You have to see them in the flesh, pictures are not always worth a thousand words.

There is always a chance that you are looking at pictures of another car.
 
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littlebrooklyn

littlebrooklyn

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Well he has put a deposit on it and is taking the train up to Stafford tomorrow morning to have a better look and if it's what he wants he will bring it home.

We did make a good profit on our last 2 classic cars, but I would imagine that as this car is already cheap we won't make much on it, if we do intend to sell it on.

Keith has spent a lot of years in the past doing total restorations of cars like Lotus Elan's and other cars that he would then ship to buyers in Japan, so he hopefully knows his stuff. I on the other hand know nothing which is why I ask on here to try and get some unbiased views.

So we will see how it goes tomorrow :rolleyes:
 

range rover

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Funny you should mention the Lotus Elan, I was just going to say that was my dream car when I could afford it but not the insurance ! I had a drive in an Elan BRM , could have bought it for £1,600 all those years ago, would probably have wrapped it around a tree though. Are Lotus 7's not collectable? My late Brother had a Midget, I seem to remember it had rust problems.
 

Frontstep

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I sold a midget many moons ago, it went to Germany of all places and it was RH drive.
 

cleverdicky

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the 'old' classic MG I mentioned I was thinking of is a MG TD if thats correct.
Serious money for some reason?
Probably only because they look the part.

But if you want a serious project that could bring in the big bucks, you need to look no further than a humble vw beetle.

Some proper serious money changes hands often by nut cases for these and their parts if they are good.

Cant imagine why tho ' ?
 

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If you are going for a frogeye then invest in a good grease gun - as you will be using it once a month on the front hub assemblies - if you don't, then don't be surprised to lose a front wheel.....

There are a few nasty jobs on frogeyes - Kingpin changes make grown mechanics weep in despair! Oh, and no proper front windows - little slidey perspex things with insecure locks..
 
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ampwhu

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Buy a drawing of the car you yearn for and hang it on the wall but whatever you do don't buy an actual ''classic'' car unless you have got thousands of pounds surplus to your needs.

Mic

I disagree.

I have a 55 Austin A30 and it costs me £61 a year. that's just the cost of the insurance. if it requires any parts, I either hunt them down on ebay or I get them through the owners club for very reasonable money. I have upgraded my car quite extensively and it has been self funded. parts I wanted to change, were sold to pay for the new parts. if your careful, classic motoring can be quite cheap.
 

ampwhu

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If you are going for a frogeye then invest in a good grease gun - as you will be using it once a month on the front hub assemblies - if you don't, then don't be surprised to lose a front wheel.....

There are a few nasty jobs on frogeyes - Kingpin changes make grown mechanics weep in despair! Oh, and no proper front windows - little slidey perspex things with insecure locks..

untrue. the front suspension only needs to be greased every 3,000 miles or so. I have driven them for over 20 years and have never lost any wheels. you don't need to change any kingpins if you grease every 3,000 miles.
 

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