Someone talk me off the ledge

[bricktop]

Haven't posted in a while.....was rear-ended last fall in my TR6. Frame bent and not repairable. Got a decent insurance check and found another '76 to use as a donor. Made a rookie mistake and bought the car without putting it on a lift and guess what? Frame on the second car had been patched several times and neeeded to be replaced as well. Super.

First check was for 5k for a Ratco frame with all the fixins. Had not financially planned to have to buy a new frame and it has dawned on me that I don't have the money for this project. Projected to be 12-14k to "re-create" the old car on the new frame and that's WITHOUT new paint, which is not an absolute must but is needed.

My wife sees the credit card bills for this project and there is gonna be heck to pay. *sigh.....this is eroding my LBC experience. Ugh.

 

[DougF]

Part out the parts car, keeping anything you need and sell the rest online. You'd be surprised how much money is there to be made. Do as much of the work yourself as possible. Take your time and spread the cost over a longer period where it won't be felt/noticed as much.
Make a plan with goals and time frames and stick with it.
Good Luck!!

 

[tdskip]

Sorry to see your spirits down a bit but I think Doug makes some good suggestions there. Hang in there, keep picking at the jobs you can do.

Keep us posted.

 

[Mickey Richaud]

Yep - "Make lemonade". Doug's advice is spot on.

Best,
Mickey

 

[vagt6]

Bricktop, stop throwing dollar bills at that car: sell both cars and all the parts and get a NICE TR-6. In today's crappy economy, $10,000 - $12,000 or so will get you a VERY nicely sorted TR-6.

I actually looked at one from Craigslist locally a couple of weeks ago. Guy was asking $13,000 and the car seemed darn near perfect. Lightly used, but nice paint, interior, etc., restored by a professional mechanic. That's the one you want to get, from an owner who knows his stuff.

Sell it all, get a completely restored one from some poor fop who's over his head in it. Can't lose, and they're pretty easy to find nowadays.

Good luck, let us know . ..

 

[DanB]

I know the TR6 you bought. It is a great looking car. The rear frame has a big plate welded to it or something like that from what John told me. I think he felt like it had been an adequate repair by the previous owner. I'm pretty sure he told me his mechanic assured him it was good.
Aside from that plate on the rear trouble spot on the frame, the car is in pretty good shape, right? Can the frame repairs be repaired?

Dan B.
S. Charleston, WV
66 TR4AIRS EFI
80 TR7 DHC

 

[bricktop]

You know Mark, if I was going to do that....cash out and start over on a car search....I should have done it BEFORE I plunked 5k down on a new frame. I've already started over the falls, so I'm gonna have ride it out at this point.

I wish I had come on the forum as soon as I found out the frame was gone. I may have done just as you suggest.

 

[Mickey Richaud]

Don't second-guess. Press on, regardless!

 

[bricktop]

Dan,

Yessir, you do know the car I bought. He was certainly not obligated to do so, but I wish John had let me know about the frame situation. Shame on me. The frame had been patched in several places and I don't know what that "plate" is covering up. I don't even wanna know. My shop brought me in, put it on the lift and made no bones about the unsat condition of the frame. It was a kick in the crotch.

At any rate, the car looks fine from 5ft and the tub/floor pans are in fine shape. The interior is well worn and I can't drop 17k on the conversion and NOT get the interior completely redone as well. Paint job is a respray that I would classify as a high-end Earl Scheib at best.

Problem is, I am trying to replace a vehicle that was bought for less than I paid for the donor car and was in good enough condition to place in car shows with no additional work right from the get-go.

I'll have a hellua nice TR6 when this is done (minus new paint), but I'll also have 25k tied up in it (and will still need a respray) and won't be able to recoup that much on a resale. I have made about every mistake possible during this process. Yikes.

 

[ottawa3]

Part of this comes down to what you can afford - I overspent on my first three and went beyond my budget into credit - it was rare that I got in the car without feeling guilty for the debt load I was carrying and it really kind of ruined the experience. I finally sold it - about a 3K loss. I am starting again from scratch with another 3, years later - but this time I have the budget and will take the time. I'd suggest you think hard about whether or not you will be happy with the product that you will have in the end - its sounds like maybe not, in which case, I'm with those who suggest taking a loss now and looking for something that will make you (and your partner) happy - best of luck whichever way you go,
Kerry

 

[vagt6]

Dan,

I'll have a hellua nice TR6 when this is done (minus new paint), but I'll also have 25k tied up in it (and will still need a respray) and won't be able to recoup that much on a resale. I have made about every mistake possible during this process. Yikes.

Bricktop, I'll take the subject line of your thread literally and try to get you "off the ledge": if I'm reading this correctly, a simple math calculation will reveal that you may save money (actually spend less) by selling what you've got and buying another, nicely sorted TR-6.

I know how you feel, but it's simple economics. You can fetch maybe $5-6-7K, or more, by selling the frame and parts you have now. Then, you can purchase a lovely TR-6 with no rust that needs nothing for around $12-$15,000, <span style="text-decoration: underline">total expenditure</span>. Why spend $17-$25K <span style="font-style: italic">for the same thing</span>??? Heck, you can find a near-concours condition TR-6 for less than $25K!

The logic escapes me. Not trying to intrude, but I've been where you are before and later wished someone had kicked me a bit harder to get out before the real bleeding begins.

Best regards, I hope this is helpful. :thumbsup:

 

[DanB]

Mark,
Where's the fun in that? Bricktop is going to have a car he knows inside and out and knows everything is 100% correct, and did it himself, or had a hand in every part of it. Owning these cars cannot be based on value, because we are always going to lose money. Sometimes worse than others, but it is the enjoyment of figuring things out and fixing them, and getting the cars on the road and enjoying them that makes the hobby worthwhile. It is a hobby, after all.

At least for me.

Dan B

 

[KVH]

I would lean against "parting" out the car. Just me. I know there could be some common sense there.

If someone will take both that RATCO frame and car off your hands for a good price, and you can put it all behind you in one tidy little transaction, I could see you going in that direction, but that's a big decision only you can make.

On the other hand, you bought that RATCO frame. If you are mechanically inclined, or have friends, maybe the cost can be less, and maybe stretched over a long period of time. Maybe stick it out one little bit at a time. Keep a big smile on your face and keep remembering you only go around once.

Tough call.

 

[TR4A_IRS]

Maybe you could just buy this?

Nice TR6?

 

[justin_mercier]

I went the opposite way myself, I bought a cheap TR6 with known problems and I'm trying to make a nice TR6 out of it =)

I was going to go the RATCO frame way myself, since the frame on my TR6 is bad, but I found a used doner frame that was already sand blasted, acid dipped and repainted for 500 bucks. I just need to repair the cracked diff mount on the right side, and replace the Tshirt, and it's good to go.

My 'personal' feeling is, do whatever is going to make YOU happiest in the long run. If you'll be happy with a car knowing you saved it from the brink of the scrapyard and brought it back to a great car, do it, if you'll worry about the money instead, sell it and buy a great one with now ork to do.

 

[Lewis_McDorman]

I overspent on my first three and went beyond my budget into credit - it was rare that I got in the car without feeling guilty for the debt load I was carrying and it really kind of ruined the experience. I finally sold it - about a 3K loss.

It's a matter of perspective. We're in debt on our minivan and would lose more than 3K if we sold it now. That is not a source of regret for us, nor is the van anywhere near as fun to drive as a Triumph. I realize that the van was purchased because it is a necessity, and the Triumph for pleasure.

In the final analysis, you don't need to regret what you spent on the Triumph or losing money on it. Your only regret should be the interest you paid on the debt. Try to remember that you share the road with a lot of people who spent more on the car they're driving that you spent on the Triumph (guessing) and that they financed most of it, and that they get not thrill or enjoyment out of driving it.