Should I sell my first car to pay for school? 1971 Camaro RS/SS

[6 Nebraska IDIs]

I bought this thing when I was 13 years old with every cent I'd ever saved. Its been a project with my dad and I since then, and the last 2 years I havent gotten very much done on it because of school, and then trying to get back into school. A real bummer when I originally wanted to get it finished by my HS graduation. But Im too much of a perfectionist and want to have a nice car when I get done with it.

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I have many many hours of work, blood, sweat, tears, and learning in this thing. Not to mention memories of working with my dad. I honestly dont think I can come to terms with selling it if I have to. I dont think I'll ever forgive myself.

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But I'm 20 years old now, should I just suck it up and be a man about this and sell it?

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I love this car as much as my girl. Not to mention I have over $4500 in the engine alone, another $3000 in NOS parts to restore it, another $2500 I paid for it, and many many other monetary things associated with this car.
I dont even know if I'd ever be able to come out on it.
Its still completely torn down, but allot of the body work is done, which I did with my dad, and learned allot.

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It is a real RS/SS 350 4spd car, and has potential to be worth ALLOT of money when its done because of how extensive my restoration is.

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What should I do guys?
I am a mechanical engineering major, that's only completed one year of school. I was in the Naval ROTC until I kept seriously injuring my left knee, so I lost any chance of getting a scholarship, and I need to get back into school.
Ultimately its my decision, but I want your guys opinions on if Im being juvenile and stupid if I keep it.

 

[sle2115]

I sold a similar car for me, a 1967 GTO and I have never been able to get over it. Do what you got to do, but it is tough, maybe even tougher some 20 years later...

 

[Diesel JD]

Not being juvenile about it....it would be real hard to sell something like that. Is that your only means to raise the necessary funds? If you can get those other three years or so under your belt, you'd probably be making good money and enough to fix it right once you get done, needless to say pay for your actual necessities. Its your call, I wouldn't want to have to make that decision.

 

[tonkadoctor]

You will kick yourself for the rest of your life. Get a student loan.

 

[h2odrx]

You will kick yourself for the rest of your life. Get a student loan.

Or maybe sell a truck or two?

 

[69oiler]

You will kick yourself for the rest of your life. Get a student loan.

what he said. as time goes on cars like that are only going to get more scarce and expensive if you can find another one. go into debt, it's the American way

 

[devildog88]

you'll never be able to replace it not just the car but mostly the memories and time spent on it . i remember when i sold my first car right when i went into the marine corps. my dad and i spent alot of nights and weekends under the hood of that car and there some of the best times i have ever had in my life.

 

[lotzagoodstuff]

I sold a supercharged Chevelle that I had since I was 19 so I could put more money down on my first house. Within a year I had to buy a Mustang to replace it and although the Mustang was cool, it was missing the one part I couldn't bolt on: fond memories.

I've owned three houses and about 20 vehicles since then, and the one thing I wished I would have done was kept one that I had early on in life. I have two buddies who still have the cars we bombed around in during high school/college years and I couldn't be more envious.

I'm not advocating debt, but if you have the room keep it.

 

[suv7734]

But I'm 20 years old now, should I just suck it up and be a man about this and sell it?

In a word- No

I bought this thing when I was 13 years old with every cent I'd ever saved.

Obviously you are the type of person that can find a way to achieve something by thinking about it and working for it.

Its been a project with my dad and I since then, and the last 2 years I havent gotten very much done on it because of school, and then trying to get back into school. A real bummer when I originally wanted to get it finished by my HS graduation. But Im too much of a perfectionist and want to have a nice car when I get done with it.

You obviously prioritize things which is good. The fact that it has been a project with your father is one of those priceless things and that is also something you can pass to your own son (or daughter) some day. I have things kicking around here that nobody else understands but they were things I did with my grandpa and no matter what, they are going nowhere- period.

I have many many hours of work, blood, sweat, tears, and learning in this thing. Not to mention memories of working with my dad. I honestly dont think I can come to terms with selling it if I have to. I dont think I'll ever forgive myself.

As above

I love this car as much as my girl. Not to mention I have over $4500 in the engine alone, another $3000 in NOS parts to restore it, another $2500 I paid for it, and many many other monetary things associated with this car.
I dont even know if I'd ever be able to come out on it.
Its still completely torn down, but allot of the body work is done, which I did with my dad, and learned allot.

Girls may come and go (and so does the money; usually with the girl )

It is a real RS/SS 350 4spd car, and has potential to be worth ALLOT of money when its done because of how extensive my restoration is.

If that is truly what you are in it for then it would make sense to sell it but I'm not hearing that from the rest of your post.

I think you're smart enough to be able to find a way to finance your schooling without selling the car.

JMHO

 

[rubberfish]

Get a loan or something. Keep the car
if it means that much. You can't replace
the story that goes along with the car.

 

[6 Nebraska IDIs]

Thank you all for all the kind words. You are the best bunch of guys!
Plus I forgot to add, it would hurt my dad like crazy if I sold something that meant so much to both of us.

 

[poolguy]

I agree with tonkadoctor and rubberfish, keep the car. There are always other ways to get through school. You will never be able to replace the car no matter how much money you spend, or how many cars you buy trying.
I lost my Dad years ago, and my first car before that. Man . . . what I would pay to still have that old car and the memories that go with.
Like h2odrx suggested, change your name to "1 nebraska IDI" !
At least, thats the way I see it.

Chuck

 

[Ford428CJ]

DUDE, That would be a HUGE mistake if you sold it!!!! Trust me.

When I went into the Air Force and I was about to get married . All the guys told me that I would have to sell off all my toys. I didn't believe them and I still have them.

I guess what I'm telling you is when times get tuff......they never last long and sometimes you can never replace what you lose (or sold to make ends meet). Those guys sold there stuff and wished that they had it back!!!! Because they had realized that they would have made it through it no matter what! JMHO

 

[hahn_rossman]

I hate to be the contrary type...but the memories and experiences you enjoyed with your father are the important part, not the collection of nuts and bolts in the garage! Ideally you would keep the car and finish it, but I would much rather you continued your education and kept your debt as small as possible. Despite all the "irrational exuberance" american consumers like to display, debt is bad. Get your degree, get a better job, start saving now for retirement. It's not as much fun as running up credit card debt on toys, but later your friends will wonder why you are so lucky.
Spend time with your dad while you can. I'm sure there are other projects you can work on together.

 

[The Warden]

What's your financial situation like? Do you qualify for Stafford loans or Pell grants, by chance?

School's very important...but, as others have said, you'll almost definitely regret selling that car for the rest of your life. If there's any way to get through school without selling that car, I'd recommend going that route.

Based on your signature, I get the impression that not all of those 6 IDI's are yours. How many are actually owned by you? If it's possible to cull the herd down to 1 (or maybe two ), with that one being either the best runner or the one that has the most meaning to you, I'd recommend going that route.

FWIW, I know how you feel, to an extent...my truck has about the same personal value to me that your Camaro does (although, I haven't done a bit of body work...yet...). Trust me, don't sell that car unless there's simply no other option...but, at the same time, from a long-term perspective, furthering your education is the single best thing you can do to advance yourself in life. That said, there are ways.