Unemployment

I worked for a large Ford dealer in Ohio. 2 Ford stores, 2 Dodge, 2 KIA and a VW. I was there for 5 years and 911 came and I lost over 1/2 my 401K.(It never rebounded by the way.) 1st week of Dec, that year, my employer let over 25% of us go, blaming 911. Lived off of 401K money. 6 month's later they called me back, I was the only one, but with a pay cut and did the work I was doing, but now for all the stores. As the years passed, they sold 1 store and another, moved some around and consolidated. Flash forward to end of 06, only 1 Ford and VW left. Another Merry Christmas, "we think you still make too much and we sold everthing off, so your gone again". Less than 7 months after that, they closed all together. 6 more months no work, spent rest of the 401K.

My Mustang is the only thing of value that I own and don't owe money on. And in Ohio, things are not great.

So, yes, I thought about selling and it kills me to still think it after owning it for 33 years.

Edited by - 289kford on 08/29/2009 10:04:45

I can't beleive you started this thread.I have been seriously thinking about testing the waters on what my car is worth.I just started with the resto and collecting a few missing parts when My wife lost her job in Jan.. I (cabinetmaker) have been real slow for the past 2 years (also battling some health issues).Now I am doing all I can to keep the house and keep my financial problems from effecting my two daughters.I have been selling off other cars I had but the K is the only one left that is worth anything substantial .I really thought I would own have this car for the rest of my life.Somethings got to give soon or the K will be moving on.

mike

It is not much better on this side of the pond. I work in construction and am self employed. All this year I have had only had a few days work ahead at any one time.

I have now run dry. There are things possibly on the horizon, but I know the winter is not going to be great.

The good news is UK house prices are starting to rise again, albeit by a tiny amount, if a bit of confidence returns and the banks start to lend again things will look up.

I shall just batten down the hatches and try to ride it out.

It saddens me that some of you guys may have to sell, I wish you all well and hope you get thru this with your K's

Mark

Been there, done that! Having been employed in underground coal mining in the Midwest, being out of work was no stranger, Strikes, contract time, and lack of customers were all a source of ucertainty. I held on to my "K" through some undertain times, and when the mine where I worked shut down altogether we managed to keep the old Mustangs through some lean times. My wife was very understanding which was the key to sanity and survival when things were at the lowest point. Was lucky to find a good job, and made it to the end of my working years without selling any "toys". You will survive, you will worry about the future, and if you have a bit of luck you will end up better off, but the uncertainty is the worst part. If you have desire and can adapt to new things a better life is in your future. Good luck to all of you.

I haven't been on here in a while because I've been unemployed since February of 2008. I'm still unemployed and my wife was off for a year during this period. I didn't really consider selling the car since it is in a lot of pieces but did try to sell the '77 T-bird with no luck. Nobody is looking for a BIG car. Wife has since gotten a good job. Meanwhile, my father-in-law died and I was given a few hundred bucks that I may spend on parts to get things moving again. He'd like that, as he was a retired mechanic and encouraged me to work on my car by lending me tools.

Hang in there friends!

Hi, it sounds like your economy is slowly starting to pick up finally. Glad you got a job Z. Ray and hopefully any other member as well. Hang in there fella's and the Best of Luck finding work and keeping those Kars.

Zed

Sadly even if you did try to sell, finding a willing buy is hard. In April I agreed to sell my 66KGT coupe back to the guy I bought it from. He went to his bank. To refinance his house. He had over $50,000 equity in. The bank said "sorry we arn't doing that now". When banks wont loan money it's hard for anyone to do anything. I am in construction and last month was the best one we have had this year. Still only making about have what I did before 9/11 though. I hope we are at the end of this ression. I know whatever I sell now I will never be able to afford to replace in the future.

Larry

Ray

I'm sorry to hear that, I too thought thoght you had found a job and were on the up.

Keep positive things always turn up

Mark