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Looking at a 1972 LT1 VIN 1Z37L2S507383. All engine components check out. Engine block code is CKY Rear end ratio is 4:11. Color is Elkhart green. Completely unrestored, marginal condition. Need to check out the frame rust situation. Assuming the rust is not too bad,what is it worth? Guy is asking $21500.00. The car is worth $40 - $50 restored to mint, so is this a good buy?
Should have some pictures next week, I know that's what you guys will ask for!
sorry about the title typo, the car is a 72!
Last edited by jrheyerly; Oct 11, 2011 at 10:47 PM.
Looking at a 1972 LT1 VIN 1Z37L2S507383. All engine components check out. Engine block code is CKY Rear end ratio is 4:11. Color is Elkhart green. Completely unrestored, marginal condition. Need to check out the frame rust situation. Assuming the rust is not too bad,what is it worth? Guy is asking $21500.00. The car is worth $40 - $50 restored to mint, so is this a good buy?
Should have some pictures next week, I know that's what you guys will ask for!
sorry about the title typo, the car is a 72!
Real Lt-1 cars are considered desireable are they worth between 40 and 50K, maybe for pristine examples.How much of the work can you do yourself?. You said original paint (that could be between 7 and 10 thousand for a good quality paint job) add another 3 or 4 if you have to do the interior.You could find yourself upside down in a hurry, unless you can do most of the work yourself.You said "Assuming the rust is not too bad" why would you assume that? the car is almost 40 years old and if it is indeed "marginal condition" there might be rust issues in the frame as well as the windshield frame.My car had the worst case of windshield rust I'd ever seen, but I pressed on and got it fixed(it was almost the dealbreaker for my entire project).
My advice is to check the car out very thoroughly, take someone with you who can be objective. Of course we want you to return here with your findings and pictures.
Good luck
Regards
Roy
That is the problem. Take a $20,000 car spend $20,000 on it and guess what, it is worth $30,000. But the big question is what it is worth in 10 years. Maybe a car like this would be best kept in original non restored condition. The biggest issue will be the extent of the rust in the frame and birdcage. Will post pictures soon.
Hi jhl,
I think that a very close second in importance, (after rust), is whether ALL the parts that make this a car an LT-! car are there and in usable/restorable condition. I don't think it's wise to have to find a lot of number and date specific parts that might in the end give the car a 'put together' appearance/feel.
Regards,
Alan
Guy is asking $21500.00. The car is worth $40 ---Looks like a No brainer to me---Just wonder where your getting the 40K figure. Mecum sells the 71 LT1's for under 30K.
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It would be a sweet car for sure. Rust, well all cars will have some. My 72 looked nasty. Dirt and sand from sitting under a carport in the desert. But, no major rust. I removed the body and began a restoration a few months ago. Yrs of dirt and surface rust hid a very solid frame and body. You really need to look the car over hard. I paid 8k for my base model 72 in May. Has all original major parts. So like others have said, take a real hard look, try and come up with a plan and what it will cost to implement then make a decision as whether you feel its worth it.
It would be a sweet car for sure. Rust, well all cars will have some. My 72 looked nasty. Dirt and sand from sitting under a carport in the desert. But, no major rust. I removed the body and began a restoration a few months ago. Yrs of dirt and surface rust hid a very solid frame and body. You really need to look the car over hard. I paid 8k for my base model 72 in May. Has all original major parts. So like others have said, take a real hard look, try and come up with a plan and what it will cost to implement then make a decision as whether you feel its worth it.
if it’s an LT-1 you are looking for this one here in Sweden might be of interest?