Talk Morgan Forums Community The Malvern Arms car hoarding for the kids?

This weekend I went to see my MGB. The workshop owners son did an economics degree. For a paper he got the weight of the MGB parts that are used in the MX5 engine based rebuild and worked out the CO2 saving for those parts as they don't need to get the raw material and build the body. He then worked out the CO2 cost of a Tesla 3. The figures worked out that I can drive my MGB for 96,000km before it catches up. Seeing I expect I will do somewhere around 5,000km a year in that car that is about 20 years. By then I expect there will be a good electric/Hydrogen option to have the car rebuilt again with.

In less than a week my son turns 25. I had told him in the past my plan was to buy a Morgan and give him my Silvia Convertible when he turns 25. Unfortunately it got written off in a hail storm in 2020, I ended up letting the insurance company take it and I bought a Skoda Rapid that my wife loves and ordering the MGB, the Skoda Octavia that was sort of my wife's car is now mainly my car. While away he reminded me that if the car had not been written off it would be his very soon.

As far as hoarding a car for him it has been a much better investment to buy a house for him, his girlfriend and daughter to live in. As Richard said invest in bricks and mortar, or in my opinion invest in the land the bricks and mortar are on as that is what mainly goes up in value.

As far as hoarding a car he would like for sentimental reasons I should have kept the Silvia Convertible and not claimed the insurance.

One of the reasons for not keeping the Silvia was the expense of having so many cars. I am paying rego and insurance on the MGB, three Skoda's (my Octavia, Wife's new Skoda Rapid and her old Skoda Rapid that my son drives to work etc.). I am also paying the insurance on my sons Silvia hardtop that has a stack of engine modifications and the insurance on the Toyota RAV4 his girlfriend drives our granddaughter around in. I organised the insurance for both and have been paying it since. Yes they should pay it themselves but they can't really afford to pay their childcare, rent to me and other bills as it is.

I feel very sad the Silvia Convertible went, I loved driving it with the roof off and he was driven to school in it every day as I got it when he first started Kindergarten.

I expect when Howard started this post he really wanted people to say, Howard go and get an E-Type Jaguar for yourself to have fun in and justify it as a great investment to leave to your kids because they have gone up in value some much and they will keep going up in value. But I hope to live another 25 years or so and I feel cars would have changed so much by then, plus what people with money will want to own in 25 years will have changed and I am not convinced those cars will be worth a lot at that time. They are not bought for practical reasons so their value is based on supply and demand (which is really just desire as no-body needs an E-type Jag), supply will go down but will demand go up or plummet?

Say I live for another 25 years then my son will inherit probably two paid off houses and say $1.2M in my super. If I had kept the Silvia and paid the expenses of keeping it maybe he might inherit two paid off houses and $1M in super. No way in 25 years would the Silvia be worth $200K to sell but it could be worth that to him for sentimental reasons and his view might be he would rather the car because he is getting enough other assets, or he might think dad made the hard but right choice to all the Silvia to be written off because he did well financially and left me very well setup.