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Joined: Jul 2007
Posts: 28,892 Likes: 350
Salty Sea Dog Member of the Inner Circle
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Salty Sea Dog Member of the Inner Circle
Joined: Jul 2007
Posts: 28,892 Likes: 350 |
My 9 y.o. Boxster S dropped 50% of its value by the time I sold it a year later...  Could probably buy another for 3 or 4 k now...
Graham (G4FUJ)
Sold L44FOR 4/4 Giallo Fly '11 MINI Countryman Cooper D All4 '90 LR 90 SW
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Joined: Mar 2012
Posts: 4,648 Likes: 123
Part of the Furniture
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OP
Part of the Furniture
Joined: Mar 2012
Posts: 4,648 Likes: 123 |
Never considered classic cars share before and it would be a very individual choice - my version is based foremost on trust and a gentlemans agreement but  has figured out the following: Go halves on everything - leave fuel at approx 50% level If one wishes to sell, the other must agree to buy the remaining share or agree to sell. Draw up a legal document confirming ownership and also include 50% ownership in wills. Storeage and maintenance at this specialist classic car facility - so drive up in mog - swap - off with the driving gloves and flat cap and on with the red braces. Drive off in the Porsche - get it out of my system and after a few days or so swap back. http://ikclassicsandracing.co.uk/bm/car-storage/index.shtml  And it would be handy because you could drop the morgan off for servicing or if it needed any work doing - shut up! Ownership and insurance would be in one name with the other as a named driver (I know - but like I said - based on trust) Useage would be flexible and sorted out amicably.  If it all goes tits up - be prepared for a write off - only £23k and anyway it will probably end up cheaper than that blond we were talking to in the pub at the weekend - I said SHUT IT!
2021 Lapis Blue Plus 6  You know it makes sense!  2016 Carmine Red 991.2 C4S
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Joined: Sep 2011
Posts: 14,748 Likes: 158
Member of the Inner Circle
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Member of the Inner Circle
Joined: Sep 2011
Posts: 14,748 Likes: 158 |
I had a work collegue that had a new Porsche in about 1987. He came back after picking it up from a routine service and looked somewhat depressed. It had cost him a whole months of his executive's salary to pay for the service. To keep up appearances he was always short of cash. In the end it cost him his job because he started selling off showroom and demonstration stock on the sly and got caught out when someone called for a warranty repair on a computer that had gone missing from the showroom.
Moral of the story: check out what ownership is going to cost you before you decide.
Peter
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Joined: Sep 2006
Posts: 7,363
Talk Morgan Guru
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Talk Morgan Guru
Joined: Sep 2006
Posts: 7,363 |
Never considered classic cars share before and it would be a very individual choice - my version is based foremost on trust and a gentlemans agreement but  has figured out the following: Go halves on everything - leave fuel at approx 50% level If one wishes to sell, the other must agree to buy the remaining share or agree to sell. Draw up a legal document confirming ownership and also include 50% ownership in wills. Storeage and maintenance at this specialist classic car facility - so drive up in mog - swap - off with the driving gloves and flat cap and on with the red braces. Drive off in the Porsche - get it out of my system and after a few days or so swap back. http://ikclassicsandracing.co.uk/bm/car-storage/index.shtml  And it would be handy because you could drop the morgan off for servicing or if it needed any work doing - shut up! Ownership and insurance would be in one name with the other as a named driver (I know - but like I said - based on trust) Useage would be flexible and sorted out amicably.  If it all goes tits up - be prepared for a write off - only £23k anyway - I said shut up!  - basically how our 'gentleman's' agreement works, apart from the petrol which we don't split. The cars registered and insured in my name, but kept at my brother's as I've run out of garage space.  As regards running a Porsche, including a classic one, I've found them to be reliable if maintained properly. However, a Peter Morgan report before buying should provide reassurance. Brian Brian
Brian
1970 Morgan Plus 8 - Moss Box (Indigo Blue) 2014 Morgan SP1 (Rocket Red) 2015 Morgan Plus 8 (Rocket Blue)
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Joined: Mar 2009
Posts: 11,524 Likes: 312
Smile, it confuses them Member of the Inner Circle
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Smile, it confuses them Member of the Inner Circle
Joined: Mar 2009
Posts: 11,524 Likes: 312 |
Bring you back from the edge. No it don't think so. Where do I push !
Everyone loves a Morgan. Even me, unless it's broken again.
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Joined: Jun 2012
Posts: 1,337
Has a lot to Say!
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Has a lot to Say!
Joined: Jun 2012
Posts: 1,337 |
if you go the share route you might be able to pick out something from Yacht Sharing agreements yacht share which is quite common
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Joined: Jan 2011
Posts: 5,549 Likes: 67
Charter Member
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Charter Member
Joined: Jan 2011
Posts: 5,549 Likes: 67 |
Clipper, I understand your dilemma, I can't remember the number of times I have had my wallet half out in the wish for an old Ferrari but common sense always seems to win. Why not consider membership to a classic car club, you can then get your fill of various cars with no worries about the usual outgoings.
Reg
Here for a good time not a long time!! Reg
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Joined: Aug 2011
Posts: 7,553 Likes: 88
Talk Morgan Guru
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Talk Morgan Guru
Joined: Aug 2011
Posts: 7,553 Likes: 88 |
David Based on the fact that (as far as we know) we only get one go on his planet; my advice would be to go for it. OK, maybe get it checked out by a Porsche expert first. My desire, even though I worked for Suzuki, was to own a full out, ridiculous, Race Rep Ducati. I made no financial sense at all, but the three years I owned that bike were briliant. Eventually, illness caused me to sell it and finally give up riding superbikes, but I can still grin with the memories.
Bud 4/4 "Stanley"
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Joined: Dec 2009
Posts: 37,403 Likes: 977
Tricky Dicky Member of the Inner Circle
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Tricky Dicky Member of the Inner Circle
Joined: Dec 2009
Posts: 37,403 Likes: 977 |
Please do it David.
My brother in law always maintained he would own a 911 before he was 40 - he died at 39 of Cardiac Myopathy 12 years ago now and it taught me a lot.
Now's the time.
Last edited by 4/4sportsfun; 17/02/14 11:54 AM.
2009 4/4 Sport Henrietta 1999 Indigo Blue +8 2009 4/4 Sport Green prev 1993 Con Green +8 prev
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Joined: Aug 2006
Posts: 7,929 Likes: 131
Talk Morgan Guru
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Talk Morgan Guru
Joined: Aug 2006
Posts: 7,929 Likes: 131 |
I know Porsches are anathema to many Morgan owners, but I have fancied a classic Porker for a while and really, really, really want this gorgeous 1987 £45k 930 Turbo.
From the photos, it would appear to have been tampered with (exhaust at a minimum but I would guess it has been lowered (this is challenge to tell from the photos but I would check it still has the OEM suspension). The 930s are going up in value but the strongest are the early 3.0 cars and, lesser so, the last G50s. This isn't either and therefore, is quite pricey unless it is an absolute beauty. Unmodified cars command strong money, the moment they are modified, I'd be less comfortable with paying market value. Long term, a car with solid history, should hold its money and gain. The 930 is a tricky car to drive and many have been in the hedge - a good inspection is necessary. With respect to the people recommending Peter Morgan, be aware that he uses other people to assess many of the cars and the quality can vary. Furthermore, if the car isn't going a ramp, the inspection will be very cursory. Personally I would find out where the car is located and have it inspected by one of the good independent Porsche garages (if you get stuck, let me know and I will try to recommend one). I am often accused of being a Pork-fan and I am, unashamedly. They make brilliant sports cars and whilst some of the modern cars can be accused of being anodyne, this is predominantly because they do what they are supposed to do very well. Running costs CAN be expensive but not like the horror stories told. Buy a good one and it won't be expensive to keep on the road - buy a dud (poor service history, damage repaired) and it can cost you into the tens of thousands to put right. As for the 930 driving experience - the gearbox is primitive and the turbo has tons of lag but I imagine it will put a HUGE grin on your face. Let us know how you get on!
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