‘Cars, girls, and cruising’: When owning a classic conjures up a romantic past
For some car enthusiasts, owning a classic is more than just an investment.
A recent BloombergBusiness article cautioned investors looking to triple their money by buying a vintage car, saying only 3 percent of the antiquated vehicles sell at auction, and likening their engineering to “50-year-old bicycles.’’
“Would you do your taxes on a computer from 1965?’’ they ask.
Luckily, for many classic car enthusiasts, owning a vintage automobile is much more than an investment. It’s a link to a romanticized past.
‘Cars, girls, and cruising’
“I grew up in the ‘60s,’’ said Jim Carini, a member of Mustangs of Massachusetts car club (MoM). “Back then, it was cars, girls, and cruising.’’
Carini bought a metallic green 1964 Ford Mustang in 2009, “one of the originals,’’ for just $500. He spent the next six years restoring it from the ground-up.
“It was a labor of love,’’ Carini said. For him and other members of MoM, the decision to buy a classic car had nothing to do with making a risk-free investment or procuring a lucrative return at some future date.
“Owning a classic car reminds you of when you were younger,’’ Carini said, adding that his very first car was a Mustang. “I loved it when I was a kid.’’
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Iconic Ford cars and trucks:
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Carini only drives the ‘64 Mustang on weekends to car shows, and never takes it out in the rain. If his wife wants to go for a drive, they take their newer 1989 Mustang convertible. He wants to preserve the car so he can hand it down to his son one day.
Carini’s love of cars apparently runs in his genes – his father was an auto body technician. Carini passed this appreciation down to his son, who owns a classic, and Carini expects at least one of his grandsons will harbor a love for vintage vehicles.
Many other classic car owners feel the same way, Carini suspects.
“I don’t think a lot of people who own them plan on selling them,’’ he said. “For me, it’s about owning this car and working on it, more of a hobby than an investment.’’
‘Better than money in the bank’
Other classic car owners recall even earlier memories that sparked their love for vintage rides.
Boe Kalinoski, another MoM member, remembers sitting in a brand new AMC Hurst SC/Rambler at a Somerville dealership in the summer of 1969. It was the dealer’s only Rambler, and it was colored in true “Yankee Doodle’’ fashion with red bodysides, hood graphics, and a blue dorsal stripe. Kalinoski was 14, car-shopping with his dad.
“The salesman said, ‘What are you doing in that car?’’’ Kalinoski said. He laughed. “I was always fond of those cars because you never really saw them.
Twelve years ago, Kalinoski was at an AMC car show in hopes of finally buying a Rambler when his phone rang. It was his son.
“He said he found one in pieces in a magazine,’’ Kalinoski said. It was one of the Yankee Doodles. “So I bought it and put it back together. It had sentimental value to me.’’
There are only about 200 “Rambler Scramblers’’ left in the country, and Kalinoski estimates his is worth $60,000. But he won’t sell it. Just this past weekend, his Rambler won “Best Original Classic’’ at a hot rod car show at the Merrimac Valley Pavilion in Tewksbury.
“It’s better than money in the bank,’’ Kalinoski said. “It’s something you can enjoy.’’
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