How would you feel?
My half sister sent me this link. Knowing what a passion we all share for our S2000's I can't imagine this actually happening, how would you feel?
http://www.cbsnews.com/stories/2006/01/17/...C-SearchStories
http://www.cbsnews.com/stories/2006/01/17/...C-SearchStories
Saw that on CNN last nite. Amazing that nobody had tried to title the car all those years. In the picture it looked as though it had been kept in a garage as well. Pretty curious, I hope the police investigators who are trying to back track this tell the story.
Originally Posted by matrix,Jan 18 2006, 01:25 PM
Not sure if I would want the car back after so long...
Not even if its value has gone up so much? You'd just need to sell it: Bonus!
I would want it after so long even to just sell it on and get some money. Let's be pratical here if there is no sentimental value.
Originally Posted by The Woman,Jan 18 2006, 08:32 AM
Not even if its value has gone up so much? You'd just need to sell it: Bonus!
....I would absolutely take it and sell it.
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I'm curious about this and I'm not sure how this works, but the owner might lose money on this deal. Think about this:
If he put in an insurance claim 37 years ago when the car was stolen, and received a settlement, does he now have to reimburse the insurance company? If so, does he have to pay interest on the original settlement? If so the value of the original settlement might be more than the value of the car. Remember, the car doesn't have it's original engine or transmission, so the numbers don't match. Moreover, it's been repainted. While in good shape, all of these things diminish the value to collectors. Say the car is worth $30,000 today as is. What is the value of $5,000 (I'm guessing that was the settlement in 1969) received 37 years ago? Especially when you consider how high the interest rates were in the 70s.
If he put in an insurance claim 37 years ago when the car was stolen, and received a settlement, does he now have to reimburse the insurance company? If so, does he have to pay interest on the original settlement? If so the value of the original settlement might be more than the value of the car. Remember, the car doesn't have it's original engine or transmission, so the numbers don't match. Moreover, it's been repainted. While in good shape, all of these things diminish the value to collectors. Say the car is worth $30,000 today as is. What is the value of $5,000 (I'm guessing that was the settlement in 1969) received 37 years ago? Especially when you consider how high the interest rates were in the 70s.
The article says he did not insure it for theft. Couldn't afford it at the time. So it looks as though he may have dodged that bullet. I think I'd be inclined to restore it too. It would be great fun.









