Re: [DML] Re: DeLorean for 17year old

["Jeremy D." <thesmokingman@xxxx>]

Hiya Ian. You seem like a bright young man and you remind me of myself
at your age. I became interested in DeLoreans at around 15 and I eventually
bought one last year when I was 19. I wish I could go back and tell 
myself the things I know now.

<<Like a lot of people (especially those in my age bracket), 
<<my primary concern is the cost of the vehicle. Using this 
<<as a basis for reasoning, it is almost completely illogical 
<<that I'm looking for a DeLorean. However, I'd be willing to 
<<put in the copious amounts of time and money 

I think most people underestimate the expense involved with restoring and
maintaining these vehicles. The initial cost of the car is just a drop 
in the bucket.
Especially if your planning on buying a car that needs extensive 
restoration like the one you described. You can save money by doing your own work, but 
it's important that you feel comfortable and have experience working on cars.

<<and I really think that'd be a better experience than 
<<buying a perfect condition concours car or even a 
<<decent-quality daily driver.

If you buy a project car be prepared to have it sit in your garage while
you spend large amounts of time and money restoring it. A lot of people fall
into this trap. They get tired of putting so much energy into a car they 
can't even drive and end up bitter and resentful of the car. Generally, unless you
enjoy the restoration process, I would recommend buying the best car you 
can afford. And if you cant afford a car in decent shape, you should wait until you can.

<<The car I'm currently looking at (I've posted about 
<<it before) is a very short distance from my house, at a 
<<truck yard. It's been there for a while and obviously 
<<doesn't run, but externally appears to be in good condition. 
<<It needs a bath badly, but the stainless doesn't appear to 
<<be dented or have major defects.

Be very careful with this car. You may have found a good project or a
car with more problems than you may prepared to deal with. My advice
is to make friends with a few DeLorean owners and have them come out
and thoroughly inspect it with you.

<<Another worry is the cost of insurance, but I have a strong 
<<sense that insurance companies would give me a hard time 
<<and high premiums for everything except a Yugo with a 
<<three-cylinder Mazda rotary engine.

Insurance is a huge headache for most young DeLorean owners. It's
either unavailable or the rates are unreasonable and out of reach. My
recommendation is to insure the car through your parents (you may need
to title it in their name) and buy another cheap daily driver car to 
insure in your name.

<<All in all, I think that a DeLorean is a very worthy automobile 
<<for my personal use (at least on the weekends, when I can use 
<<it to attract females and offers of money at the local shopping 
<<mall). It's a tad out of reach for most teenagers, but I still 
<<think it'd be a good investment, since the rarity and curiosity 
<<of the cars will most likely cause them only to increase in value.

Wrong on both counts. The car is definitely not a good investment. And 
the only people I have attracted so far with my car are other guys (car guys that is) so 
don't expect a DeLorean to turn you into some kind of Don Juan ;).

I think you've thought this through pretty carefully and you'll make a 
good owner, but you may be underestimating the demands of the car. Your right that it
is out of reach for most teenagers because most teenagers simply cant 
meet the monetary needs of a DeLorean. If you have limited income you should probably
wait until you can better afford it. That's probably my advice to you, 
take your time and buy the car when the time is right. You'll avoid making a bad 
decision, and you'll own the car instead of the car owning you.

Take care
-Jeremy
10842