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MG TD TF 1500 I paid too much for my TD BBS discussion at MG-Cars.net
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MG TD TF 1500 - I paid too much for my TD
| I was probably too impatient when I bought my 1953 TD four years ago. I paid 20.000 Br. pounds for it. In addition I had to pay another 5.000 pounds to get it into Norway. Now there are two other TDs for sale here in Norway. Both have the price of 11.000 Br. pounds. So, if I had waited, that is what I could have paid. Well, done is done. But if I was to sell it, I think I would send it back to Britain. It seems to me that everything is very much cheaper in Britain compared to Norway, except mg tds! I know the MG TD is a lot cheaper in the US than in Britain, but it costs a lot more to travel to USA to look at cars. :-( |
| Raymond Wardenaer |
| Raymond I don't know anything about the car that you bought, but keep in mind that this is a hobby.... Hopefully, you have a "family" car that you drive daily. If ordinary new cars, in Norway, are like American cars, the car loses value the minute you drive it off the dealer's lot. While collector cars, like the TD can increase in value, that is the exception, not the rule.... Typically, more money is spent on antique vehicles, than can possibly be gotten when you sell them.... There are always exceptions, but those are the top 1%..The other 99% just enjoy the car, and don't think about the loss, or lack of increase, in value. To repeat...It's a HOBBY, not an investment. The TD that I am working on, is still in pieces, and I have already spent more on it than I can hope to recoup. If I get close to even, I will be happy. Edward |
| E.B. Wesson |
| I totally agree with Edward. I bought my TF in 2007. Raymond, sound like you bought your TD in '08. After that recession got in full swing, classic car values dropped, just like home prices in so many markets. I fret about this from time to time, but I am still very happy to have the TF that I bought for a variety of reasons. I think back to the TD I bought in 1971 for $1000 and that brings me some comfort. This is the best HOBBY I have had in years. Hang in there. Tom '54 TF |
| Tom Norby |
| Edward, the TD is my only car! However, I am now considering to get an MGB GT to use in the winter. And, of course I agree with you both. I dreamt having a TD since I was 13, but it still is a fact that I could have had one for less than half the price! But when I bought mine, there were no cars for sale in Norway, and I wrongly thought that I would get very good prices in "cheap" Britain. But I am happy with my car anyway... |
| Raymond Wardenaer |
| Raymond - The best way to prevent buyers remorse is to quit looking at adverts for TDs ;-) If you are happy with your car, that is what counts. Cheers - Dave |
| David DuBois |
| I am a classic car collector of both American and English cars and the reduced value is just a sign of the times and reaction to the stock market. The car values in the past 3 to 5 years has gone down around 40% from what I am seeing. The problem is that many Sellers seem not to understand the market and expect to recover cost and hopefully profit. Just not going to happen until we experience a global market recovery in the stock, housing and job markets. Watch ebay or classic car auctions and you will see the majority of sales not meeting the reserve. |
| Russ Little |
| Have fun and enjoy it. Think how much a girlfriend or some other hobby could cost! Hi Russ, you are right on with your assesment of the car market. Even some of the higher end cars (Aston Martins, etc.) have plunged in value. George |
| George Butz |
What is the Smile worth every time I get out and drive my TD? To me its priceless!
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| C.R. Tyrell |
| I could have paid more, I could have paid less, I could have gotten a "more perfect" car .... but I got the one I wanted when I wanted it and I have enjoyed every minute of it, even fixing minor things as I discover them. I also keep an eye on the market - it's part of the hobby for me. It's fun seeing what's out there. BobbyG |
| Bobby Galvez |
| Yes, I understand what you are all saying. I am retired and my resources are restricted. Wouldn't you say paying twice as much for a car than necessary is not very wise? That is what I wanted to say. I enjoy my car very much, and I shall not sell it. But anyway... |
| Raymond Wardenaer |
| Raymond, Hindsight is always 20-20 so there's no need to worry about whether you spent too much or not. Just tell yourself that the cars you've seen advertised lately are not nearly as good as the car you presently own (and they're probably not!). Gene |
| Gene Gillam |
| Gene, your so right. I have over 30000 in my car. Its worth probably 20 but who cares. I love my little blue car and would not sell it for anything. I built it, I put it back into running condition, and that is priceless... |
| Tom Maine (TD8105) |
| Raymond, You could not have bought a TD for half the price four years ago, and you have had four more years of enjoyment from it than if you had waited until now to buy one. I think you did the right thing. James |
| J K Barter |
| Raymond- The time you spent starting the post was wasted. If you made a decision that was honest to yourself, based on your knowledge and situation at the time of decision, then any "excess" you paid was only a minor tax on a lifetime of pleasure. If you knew you were dying tomorrow, you'd be happy to spend ALL your money on the car today. If, as we hope, you live another 50 years, it is a few cents a day. The really expensive stuff is what you really want but don't buy/do when you could. I sold a guy an Austin Healey 3000, his "lifetime dream" car. A little tatty but completely drivable, and suggested we throw a quick paint job at it, so he could drive it without being embarrassed, get some enjoyment, and decide what it really needed and whether he was willing and able to commit to a full resto. It would have been a 20 footer and a good DD. He drove it 17 miles from my house to his, and parked it in the barn for a couple of years. Then he took it completely apart, and asked me for a time and dollars quote to rebuild the shell/sheetmetal, since he was intent on doing the rest. My price was $9000-"OK" but my time was one year or a bit more -"too long". He spent the next few years hauling around on a trailer (about 6-12 hundred miles per trip) to a dozen or more "Professional Restoration Shops", finally contracted with one to do it, for twice my price but half my time. They took twice my time for four times my price, and the car was two inches longer on one side than the other - he couldn't even fit the rear axle under it. They took it back and wrecked the front putting it in the trailer. Two more years and it came back not much better. A lawsuit and a settlement later, he had about $25000 and 15 years invested. Another 600 mile trip for the next shop to redo it, another year, same result. The next shop finally got it passable, but I wouldn't have let it out the door as it was. He got it home, was diagnosed with cancer, and died 20 years after this started, leaving a pile of freshly painted parts he only drove the first 17 miles. A friend was the executor of the estate. We found enough bills to figure out he had spent well over $50,000 plus the court settlement - amount unknown- that we could document, which certainly was not all of it; the car sold as a "kit" for about %15,000. Think about this anytime you start to question yourself while you are riding around chasing volleyball girls with a smile on your face. FRM |
| FR Millmore |
| Raymond I survived esophagus cancer , the worst chemo you can think of. They took my stomach out this all happened 10 years a go. I finally realised that: in my last shirt I wont have any pockets . So enjoy your live with the car you dreamed of . Gerard |
| Gerard Hengeveld |
| Oh, my God! Well said, ALL of you. I am going to enjoy my little TD and TF so much more, now. You guys really hit the nail on the head. Raymond, let's you and I remember these comments and adjust our perspectives. Thanks fellows. Jerry |
| Jerry Chandler |
| Raymond, In 1966 I bought my dream car. A 1953 MG TD. Paid $1,300 for it. I was 26, single, first job out of college and had no car experience. I took the engine out and had it refurbished. Drove the car every day for the next 2 years. Sold it (long story) in 1968 for $1,300. Spent the next 42 years regretting that sale. About 2 years ago I decided to buy another TD. (recapturing my youth????). This bulletin board was unknown to me. I had no knowledge of the state of the market for TD's. I didn't even know if any of them were still around and running. When I saw the advertisement for the car I noticed some drool on my chin. It was portrayed as mint condition(chuckle, chuckle). They were asking $32,000 and I paid $28,000. (There's a sucker born every minute). I do almost all the mechanical work myself. Eventually I named the car Mobius. Not only for the twisted frame but because everything I do takes twice as long as you might expect (at least twice as long). As you can see from the summary report I have already put $30,000 more in to it(so far!). Do I regret the price I paid? .... A little. Do I love my car? ...... A lot. The only time I think about it is when it comes up on the BBS. It's running great. We can do nothing about the past but learn from it. Enjoy the present. Make plans for the future. Mort 
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| Mort 50TD (1851) (Mobius) |
| Raymond another thing to consider is that there are 20,000 pounds cars and there are 11000 pounds cars. These advertised cars may not be as mechanically fit and as good condition otherwise as yours- they may be 11,000 pounds cars. From your videos your car appears to drive and run great, and is very presentable- enjoy it ;^) |
| Dallas Congleton |
| Mort's Quicken report looks just like mine, albiet a bit higher than mine! Did you include the "special tools" in that category? Thanks for reminding me Mort (not!). Glad I'm not the only Type-A guy here. Ed |
| efh Haskell |
| Mort YOU WIN! (LOL) Edward |
| E.B. Wesson |
| A dubious honor! |
| Mort 50TD (1851) (Mobius) |
| Raymond, As Iīm the only one except you on this forum that have actually seen your car, I tend to support those who have said that your TD is better than the two that are for sale now. I would also like to say that many of the comments above make an impression on me, and I totally agree: Though most of us have limited funds, letīs just accept that money spent is money spent, and enjoy life as best we can. We donīt know much about the future, whether prices will go up or down, or how many days we have left. Tore |
| Tore |
| Raymond, I think most everyone here would agree that life's too short to drive boring cars. Enjoy!! |
| Keith Yarbrough(TD1558) |
| Just kind of a reverse story. In 1958 I purchased a TF1500 for $850, remember then it was just a used car. I owned it for 20+ years and finally sold it for $4500.00 And I'm still kicking myself in the behind for selling it. I now own a restored TD with all the upgrades I have always dreamed of. I also own a TF1500 with matching numbers that has also been restored. I'll never get my money out of either of them, but I will have the joy of owning them and caring for them the rest of my life. I only hope that the next caretakers love them and care for them as much as I do now. Sincerely, Bob |
| Bob Jeffers |
| Raymond! I have also seen your car and it is a beauty. Buy the best and cry only once! After the purchase focus on joy, not cash. Regards Jan |
| Jan Kristoffersen |
| Hey Bob, did you ever use the Judson??? |
| Tom Maine (TD8105) |
| Raymond: the thing to remember with old cars and airplanes is that financial justification for owning them is NEVER going to be there:) The ownership should fill an emotional need.... God God if my wife ever found out the amount of money that I spent on my airplanes over the first part of my life and now in the restoration of my 54 TF in the last few years, she would DEMAND equality then I really would be in trouble. We recently moved to Balfour BC and the "honey do" list got tremendous that plus finishing off work in Calgary until retirement in Oct has put a real dent in the time that I have had to put into the car. Still, this winter I will rebuild 2 motors in AZ and then in the Spring will come home and start working on what is now a "puzzle" of pieces. I will love doing it and yes! I will spend more money (hopefully less of it.). The point for me is that the 54 TF and the Mooney have pieces of my soul; although I will probably trade in the Mooney for a puddlejumper taildragger. One additional point is that I have found it hard to believe and wonderfully refreshing to have met/communicated with so many people who share our hobby and give so freely of themselves and what they have to help others. This BBS is something else:) Best regards and thanks to all for the past help received and future help that I know that I'll need! Rod Murray |
| Rod Murray 54TF 3006 |
| I guess I approach all my classic vehicles in a different way. I see what they are fetching for normal market price and set that minus about 25% as my absolute maximum budget. Usually my goal is 50% of current market value. That has served me well. But then again I make sure to buy a very good example so as to avoid a lot of cost. I do not cut corners however. When I rebuild I do so such that I don't want to touch that vehicle for another 20 0r 30 years. So all my classic bikes are all in great shape. For my TD I was fortunate in that there was no up front cost as it was a gift from my Uncle. But still, it took 3 years and $12k to bring it to what is is today. (it was fairly rough but did not need an engine overhaul). Of course that means 99% of the work was done by me. I stopped just short of dropping $4k on rechroming. While the chrome on it is not the best, it's pretty hard to justify that kind of coin to make it perfect, and in the long run would not net a good return on that investment. Money better spent on new suspension and brake components. In the long run though it is all about your enjoyment. |
| L Rutt |
| I started out being anal about every penny spent on my TF. Made an excel spreed sheet to track when & where each part came from, part #, and the cost. Still have "the list" ...haven't made an entry in years, can't remember last time I hit "auto sum". Most of the reciepts for the last 6 or so years are in a box (somewhere). IMHO: I think it's better that way. When I'm feeling down a ride with "Izzy" makes it all better. Can't put a price on that! |
| David Sheward |
This thread was discussed between 08/06/2012 and 14/06/2012
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