So here is my story. In Sept of last year I was looking to sell my car and get a cheap kick around car for the winter (I ride a Ninja 650 during the summer). I was planning on selling my 05 Hyundai Tiburon to get out of the huge $385 a month payment (plus it needed a clutch).

So one day while riding around I saw a black 78 for sale. Immediately noticed the need for a paint job but figured I would stop and see how much the owner wanted. There was a slip of paper in the window stating it was a 78 L82 auto unsure of the mileage with a freshly rebuilt motor and tranny about 10K on each. It stated the tranny had a leak from when he installed it, but that it was a slow one. It needs a new interior, pretty much everything but the dashboard. Which is fine the interior is white and I want black on black anyways. Price tag 4K. "I think to myself SWEET! I can swing that."

Now I know I should have waited, had the car checked out, but my chance to finally own a Corvette took over and I bought it without even thinking. Here is where I think I made a bad decision. Forgetting the fact I have had the Vette almost a year and havent sold my Tiburon. I have found the 78 needs ALOT of work. Soon after I bought it I found the t-tops leak, nothing major just weather stripping. Then I noticed the floorboards have holes in them (he had mats over because there is no carpet up front, but brand new in the back, go figure). Then I got under the car. Its not TERRIBLY rusted, but enough to almost make me regret it.

Fortunately most of the problems are cosmetic, the interior lights don't work, speedo is off, some gauges don't work (although previous owner added aftermarket ones bolted under the steering wheel off to the side). The car drives great, but I want more. And every time I look at the car to try and decide what I want to do first I see about a million things that I would have to, or at least should do while I'm there. Which wouldn't be a big deal, except I just moved into an apartment with my g/f she is finishing school so she isn't working just yet. And I just don't have the money (or garage...yet) to work on it.

Here are some pics to help you see what I am going through.











My question to all of you, should I sell and wait until I can afford/have the space to fix one up right. Or just use it as is (which like I said I use my motorcycle for most of my driving so she won't be used often) and let her sit and patiently wait until I can pay her the attention she deserves.

 

If money is a considersation right now, I would suggest you sit tight and try to save your pennies.

The one thing I've learned is that every vette project leads to more projects and they cost more than I had anticipated. With an original 78, my guess is you'll get into major restoration which can cost more than it may be worth (from a value standpoint.)

If you have rust holes in the floor pan, I'm willing to bet the frame may need some work, too in the future. That may lead to a full frame off! If you really love the car, drive it/enjoy it and then start fixing things when the money is available and make it into the car of your dreams

 

Post some pics of the underside and frame. That will make it easier to comment on the overall condition and what you might expect to have to fix.



Rick B.

 

Yea, from what I have seen most of the frame is rusted but seems to be only surface rust. The front body mount that I can see through the kick panel does look to be in poor shape. I would love to do a frame off. But at the same time, I know it wouldn't be financially worth it. (plus a 69 is really my dream Corvette) I'll try and get some under pics when I get home tonight.

 

Like my brother once told me "learn to cut your losses". I would sell it with full disclosure of everything you know and have learned about the car. Some one will buy it for the right price and fix it like it should. Just don't hold on it it and let it rust and fall to pieces in your driveway. Let someone who knows what they are doing make it better. These cars are too special to be neglected.

 

 

I say sell, I purchased my first vette 5 1/2 years ago, A 1977 4speed around the same condition as yours. It also sat outside I paid $4500 I dumped loads of time and cash in it. Atleast 2 grand per year including maintance repairs. Well I started making more money and finally got a garage from a friend. I looked at the nice garage and what the elements through time did to the 77 I thought nope it would cost to much to finish. I sold it for $5200 Alot less than what I had into it and purchased a frame off resorted 69 for less than what I think I would have had in the 77 had I decided to restore it.

 

being from Lynn/Salem originally.............

the car is in much better shape than one would expect from a "driven" New England Corvette . Mine was in very similar, if not worse, shape when I bought it.

Treat it like I treat mine.. a rolling work in progress and work on one area / issue at a time. Eventually the car will come back. Mine still looks like crap, but underneath, it's almost a new car. (rear suspension / exhaust / engine / trans / trailing arms / e-brake etc etc etc....)

you got in on the cheap, don't lose focus. You can't wash and wax it and expect it to look like new.

 

That was my thought train. However now that I have it, selling it seems far to hard for me.

 

I like this outlook better lol. Just sooo much I want to do to it. Guess I'll focus on selling my other car to free up some money for it.

 

Assuming there are no major rust problems and that it is safe to drive right now, I would sit down and make a list of everything I want to do, then prioritize that list and try to group the items into reasonable projects. Then just start attacking the list step by step as you have the time and money to do so. Every little thing you fix, no matter how small, will bring great satisfaction.

 

I think this is a good approach. If you can make it a safe driver for when you can't ride your bike, it'll do for now. You can then fix it over time, or sell it later. Probably won't depreciate much from where you are now.

The Tiberon, on the other hand, is depreciating while you read these responses. If you can make the Vette your backup, economically, ditching the new car is your best course financially. This assumes that you won't lose your job for not being able to get to work because it's raining and the vette chose that day not to run. That happens. Often

 

If you want to take a ride up to Easton some weekend I'd be happy to give the car a look. I know where most of the evil lurks.



Rick B.

 

Thanks for the input everyone. As far as the rain, I have rain gear for when it rains and an electric jacket for when it is cold. The only time I would not be riding is if there is snow on the roads. And when that happens I have the Mass bay transit authority.

 

I would definately like to take you up on this. I'll PM you sometime maybe we can set something up. Im in Quincy now. So it shouldn't be that hard.

 

Im originally from Hyde Park- my best friend has a custom paint place in Stoughton, he might be able to suggest some help on body/paint.

I'm of the opinion that if the car doesn't have a broken frame, it might be just what you need to have right now. You sound like you totally dig the car, and it could be your work in progress. Fix a little at a time, don't get buried. Sell the other car and don't get ahead of yourself. You will likely have more in it than its worth when its over, but to me when you spend restoration money over years while driving the car, its worth it if thats the only way you can do it. You just arent ready to look for or even wait for that $25-30k '69 right now, Dream cars can come later.

Interesting that it has '79 seats added to it. Just one thing- just because the owner says its the right L82, doesn't mean it's so. I'm assuming you didn't really check the engine numbers. Do that.

The car could be fun. Play with it for awhile.

 

I noticed your avatar says you are in New Bedford. I live in New Bedford and I would gladly give it a lookover for you. Mine is a 78 also. I am no expert but I have learned alot from this forum and could probably tell you if it is fixable.

 

Quincy is 1/2 hour or less drive. I'm usually around on weekends working on the Vette (big suprise there!).



Rick B.

 

Yea I took the owners word for it. It seems like its got the right amount of get up and go and the badge, but hey if the seats aren't right then who knows. It doesn't really matter to me. If I do keep it I will drop a new motor in eventually anyways.

Yea when I bought the Vette I was living in my parents house in New Bedford. I should change that lol.

 

I am kinda in the same boat. I have been looking for my first Vette, and I purchased the one I liked the best. It is a wiring nightmare, but runs drives and looks killer, just many small things to replace. Good luck to the both of us.