Rust Mortgage

A "classic" car, motorbike, or boat that old farts purchase from one another under the auspices of fixing up and restoring, but is invariably neglected, and allowed to continue to deteriorate upon their own driveway or lot.

AKA junker Fixer Upper project car

"You heard Tim took over a Rust Mortgage? That thing's gonna sit in the grass until it turns to dust."