Looking to buy a '78, silver anniversary paint, L82. Current Owner is the 2nd owner and purchased in 1980. Car has been sitting for 10 years, doesn't run, interior is out and will need to be replaced.

The downside is the floorboards are rusted out. The passenger side would probably give way with any weight on it and the driver's side feels pretty week although the carpet glue is really blocking a good inspection of that side.

Looking at the engine, I am assuming it needs a total rebuild, but should be salvageable upon a cursory look. All the weather stripping needs to be replaced, but the body looks pretty straight other than a few minor repairs and paint. The wheels look to be in decent shape, put the rubber is barely hanging on. I had trouble getting a good look underneath, but I could only really see surface rust. However, I do have some concerns about rust I can't see. I am also not sure about the electrical system, assuming I will need to redo that as well.

With that being said, I don't mind a long term project. This will be something I can teach my son on as he gets older. I'm not looking to make money on this project, but I also don't want to overpay for something I'm going to have to start a frame off with. I would love to save this one as it is going to fall apart otherwise.

With all that being said, what would a '78 in the above condition be worth? I don't think the birdcage is rusted out from what I could see, but I am figuring the floor pans aren't the only rust issues on the car. Thanks for your expert advice and hopefully I can join you guys on the forum more often! Not my first project, but would be my first vette!

 

sounds like everything needs to be done on this car and you dont appear to be positive concerning the amount of rust in critical areas of the frame, so my number is 4K.

 

If you post pictures people will be able to give you a better idea on value.

In case you have not read ten rules for buying your first corvette check it out.
https://www.corvetteforum.com/forums...-corvette.html

 

Youre going to lose money no matter what you pay for the car. In the end the cost of parts will exceed the value of the car. But.....there is no greater satisfaction than taking a neglected relic and making it a head turning thing of beauty. Mine was a disaster. 4 yrs later, this.

 

If I couldn't buy that for under $2500, I'd walk away. Even if you can do the work, it still will be expensive to do.

 

Tell them you'll take a hundred to haul away. Sounds like a big project

 

I would start the teaching process on how to identify a good project car. Their are too many of the 78-79 cars around to start with the bottom of the pile.

 

Same here. I bought what has been described as a "basket case", and now, even half done, it`s beautiful!

 

Gto

I would go 2000$ tops and that would be it. If those floor pans are shot your probability of the cage and upper frame have good rust damage too. It sounds like you know what you want and need to do so go rescue that bad boy before she returns to the earth.

 

What is the seller asking for the car? Sellers sometimes have the impression what they have ought to fetch good money for no reason other than it's a Corvette.

 

Walk away. This is a losing proposition any way you look at it.

 

If cheap it might be a donor car. It is possible that it is not worth rebuilding, better to buy one that is already finished if affordable. You will be upside down on this car forever, even if it is given to you.

 

My wife gave me three rules when I bought my car:

--It had to be "classic". After lots of research, we narrowed our focus to mid-70's 911s and chrome bumper Corvettes.
--It had to be $8k or less.
--It had to RUN and DRIVE.

The last one was probably the most important to her. Nothing is more discouraging than spending good money on something and not be able to ENJOY it for many years and many (many, many, many) thousands...or tens of thousands...of dollars.

Before my Corvette I was dead set on building a Factory Five GTM. The money wasn't the hangup so much as my being lucky to finish the car before the kids are most of the way into high school.

I looked for a long time (6 months of religious morning and evening scouring of the 'for sale' resources) and finally found "my" car.

I love it. I'm deeply passionate about it. I wouldn't change a single thing about it. And I'm glad I waited for it.

If this is your car, awesome. Go for it.

If you have reservations about this car, don't get it. I promise another will come around. If it is double the price but runs, drives, and has some issues you can have fun fixing, you'll be QUADRUPLE the price ahead in costs instantaneously. I promise.

 

If a '78 anniversary is your dream Vette, go for it and have fun. But for a few dollars more, why not track down a chrome bumper car in the same condition. You're gonna throw the same amount of money and effort fixing it up regardless of the year, and the initial purchase price will be a small percentage of your total investment. And by the way, think about how much money you plan on investing and what you'll end up with.

 

Buy the car for a few hundred bucks, and teach the kid on how to part a car on ebay. With the profit, buy a better car.

 

If the floor is rust, underside is rusty.....Id walk

To do one right you could very easily sink 30k+ into a car worth maybe 10-12k

I would never do a frame off again

 

I am going to have to agree with everyone else. A rusty 1978 Corvette is a parts car at best. There are way to many nice ones to buy rather than sink money into this money pit.
Believe me when I say that even the "nice" ones will have plenty of father/son projects to keep you busy.

 

IF you do some searching and homework, you can find a great condition Silver Anniversary Corvettewith under 590K Original miles with zero rust..
EVEN

 

For the price of the paint and the floorboard repairs alone, you could be driving this one tomorrow:

https://www.corvetteforum.com/forums...-survivor.html

Add in the time you would NOT be driving the project-car, the pain and effort of getting that rust fixed (Unless you do body-work, welding and paint yourself, and have literally no other obligations or demands on your time than working on this car with your son).

I'd rather be cruising with my son on the back-roads, or spend a weekend with him replacing the (already-purchased) carpet and fixing the speedometer, than getting rust in my eyes and forking over $2-3K every few months to have the major work done on a car I'm not driving.

 

Are you sure about doing this? I did a body off on a 1972 a/c LT1 in 1988. It took me over a year and I had the engine professionally rebuilt and the paint was also professionally done. I did the interior, frame and suspension. This was supposed to be a teaching opportunity for my then 12 y/o son.
Well, it took me over 14 months, I underestimated the cost for every portion of the rebuild, and wound up with a beautiful restored a/c LT1 Then sold it 8 years later to pay for my son's final year in a private college. Was it worth it? I still am not sure. Would I do it again? No.
Would I even buy an older Corvette? Still debating. Currently have a 12 GS vert with the 3LT package. I can't see giving up the ride, convenience and looks of the C6 for a C3. Even though I enjoy the C3 look.