Oh wow. I had to bite my tongue today.
My pal who sold me the Honda is looking for a car for his son, who doesn't seem to be the most 'car-friendly' individual from what I've heard. He's hoping to find a nice, cheap car for himself because his Malibu is having issues. He wants to get himself a cheaper car, and get a decent beater for his son to drive. I asked him how much he was hoping to spend on the 'beater,' and he mentioned if he could find something for $1200 he'd be happy.
He also said something about wishing I would sell the Honda back to him during the conversation, however I'm not entirely sure what he meant by that.
Honestly - there's no way in Hell I'd sell the Honda to anybody for $1200. Thanks to all of the time and money I have invested in all of work I've done to it, I can't let it go for less than $3500 - I would lose money (at the very least). The State of Texas feels it's worth $2860 (which is what they based the taxes during registration on), and I've also got a lot of 'niceness' invested into the little car as well. All told, I bought the car for $800, spent approximately $500 getting it running again, then another $500 in miscellaneous things that were wrong with it as a result of age (brakes, rear wheel bearings, some sensors, et al). Then I decided to spiff it up a little with $800 in rims & tires, $150 window tint, $200 for 'new' Acura Integra seats, then finally $200 for a new stereo and alarm after it was broken into in March 2008. That's almost $3200 right there. Then there's the $200 for the clutch and shop-time expenses replacing it this past March when the Hobby Shop re-opened.
I actually kept all my receipts, and I'm invested into it somewhere to the tune of $4150. In the just over two years I've had it, I would've spent about half again that much money in gas just driving the Ram. So my investment has actually had a return for me, although I'm not sure of the exact math involved. But I'm definitely ahead of the game, that's for sure.
Granted, I don't expect to get all my money back out of a car when I decide to take it on as a project. But what I have invested in the little car is a lot more than just money. Had I paid someone to rehab the Hatch, I would've spent over $1000 in labor alone just getting it running again, not even counting the clutch and other things that I've done to it.
Sorry Bro - can't see it happenin'.
Not to mention the psychological torture I would have to endure watching his kids destroy something I saved quite literally from the junkyard.