I have a C5 which I am not planning on getting rid of. I have always wanted to restore or fix up another vette. I was on craigs list and found an 81 for $2950 for a running project. It does need repainted probably whole car and an interior as far as I can see in the pics. What you guys think of the price? One other question if the mechanicals are in good shape and don't need much and after other things are done and fixed properly what would the resale be on this car? Other than what you can see in the link should I look for anything else if I decide to purchase? Thanks for any input.

Here is the link..http://indianapolis.craigslist.org/cto/4141433934.html

 

1st off I'm am nowhere near an expert and there are several memebers here much more qualified than me to answer your questions but since no one else has responded as of yet I'll offer my thoughts. What are your expectations for this restoration? Are you looking for driver quality or show quality? How much can you do yourself? What is your overall budget (add 50%)? If you can't do paint and body work it may be best to keep looking. Have you seen this car in person? Do you know where to check for rust? If you don't know these cars you need to take someone who does for another trained pair of eyes. Rust in the birdcage is a deal breaker for sure. You even need to check for frame rot. The pictures don't really show much other than the front bumper probably needs to be replaced. I'm willing to guess this car will look a lot worse when you actually get to see it. The body and paint work will add up very quick. Then add the cost of the interior repairs. What about new weatherstrips and emblems? That's not even getting into any mechanical issues and required maintenance.
Most of the time it's best to by the most car your budget will allow as it's cheaper in the long run.
As far as resale goes that would depend on how far you go with the restoration. If you think you can get your money back or make a profit think again.
I'm sure I asked more questions than I answered but I'm just trying to give you and idea of what these "project cars" can turn into. Good luck with what ever you choose to do.

 

Almost too good to be true, so ask why the asking price is low.

Google 81s for sale and/or surf through eBay for a ballpark figure on value. Naturally, the values could change between now and the time you get this car finished.

 

3JsVette, thanks for the response back. I have been reading about the bird cage and the frame rust on these cars and that would be one thing I would check for sure. Money is not a real big problem. I was looking between daily driver and show quality. I know it could be worse than the pictures since their not showing a whole lot. The price could be reflective of other bigger problems..ie their reason for selling. I know the paint and interior are the biggest expenses on these cars as well as any thing mechanically that needs fixing. I may pass on this for fear of the unknown and set my sights on something else. Again thanks for the response.

 

I know that is one of the reasons I was considering it. If it doesn't need much then I am ahead of the game, but if some thing is to good to be true it probably is...


I have done that and they range from $7,000 upwards to about $20,000, and I know that depends on condition.

Thanks for your response as well.

 

If the paint and interior are worn out.... wouldn`t the mechanical components be about the same? True, common parts like brake pads and shocks get replaced as a car ages, but what about control arm bushings, tie rod ends, springs, etc?

 

Hi d,
When the selling price gets down to the $3000 and below range it's probably because you're really buying 'part' of a car.
Although it may be physically all, or mostly there, it needs so much work, expertise, and money, that a buyer would be wiser spending more money on a better car.
A very needy car eats money at a scary pace!
Regards,
Alan

 

Lets say you talk the guy down to $2500 and you do all the work yourself, including paint. I would say that you will invest $10,000 into the car. Now you will have $12,500 into the car and you knew everything is new and redone the way you want it. You will know every inch of that car. If you go out and get a nice one for lets say $10,000 you are going to put $2500 into it to get it the way you want.


I also sold a C5 and bought a C3, I bought an 80 for $12,000 and thought I was getting as real nice car. Then I dug into it and have put a ton into it. I wish I could have found one for $2500. I would be $10,000 ahead right now.

 

The author pulled the post on craigs list so I am assuming the car is sold. So all bets are off on this one....Thanks to all who responded. I was getting to the point of passing on this one, but this takes care of it. Again thanks to all who responded.