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When Should I Give Up And Walk Away?

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Old 09-04-2018, 12:45 AM
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ryanstreet
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Default When Should I Give Up And Walk Away?

Here is my situation.

I bought a 1978 C3. It needed some suspension work and some parts looked worn out. Otherwise it seemed like a good car. I made the purchase, knowing I would have to put some money and work into it. No problem.

Shortly after I bought the car I took the car into a mechanic for a tune up. The next day the engine blew a piston and cracked the block. The engine was destroyed. I had to sink $6K into the engine / parts / etc., to get it running again. This was NOT part of my original plans or budget.

After I finally got the engine running, all of the original issues it had when I bought it was still there. So now I had to address those.

I took it to a shop on a recommendation of a few friends. That was one of the worst places imaginable. They said it would take a week of work plus parts ordering lead time. It took seven weeks. I had to actually tow the car away from the shop. It came back with more problems than it went in with.

I took it for a test drive to assess what I needed to fix. A quarter mile into the test drive, my diff completely locked up. I inspected the differential. The previous shop had replaced my diff gasket and didn't put fluid back into the diff. This is where I am today.

I've been trying to get this car on the road for over a year now. Every time I think it might be okay, it ends up breaking again. I'm $25K into this car just to get it running.

I keep thinking I shouldn't give up on the car because everyone else seems to be screwing it up. That doesn't, however, excuse the fact that it's always broken and costing me a ton of money I didn't plan on spending.

So here is my question to you all: should I give up and walk away? Should I keep going? When would you walk away?
Old 09-04-2018, 01:09 AM
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ddawson
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Well the rear end was a human mistake, the engine blowing was just age or a bad rebuild.

Without doing the work yourself things get expensive fast.

Make a list of what needs to be done. That will help paint a better picture on where you stand.
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Old 09-04-2018, 01:23 AM
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ryanstreet
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Thanks for the reply @ddawson.

Here is what was done to it:
  • Engine (350 performance SBC)
  • Fuel lines
  • Fuel pump
  • Brake Master Cylinder
  • Brake Booster
  • Parking Brake Components
  • Polyurethane bushings in the front and rear suspension
  • New Front Shocks (Bilstein B8s)
  • New Transmission Front Seal (old one leaking)
  • Rear End Housing Cover Gasket
  • Reverse lights, turn signals, running lights (electrical issues)
  • Pitman Arm
  • Power Steering Valve
  • Idler Arm
  • Window Motors
  • Rear offset Trailing Arms
  • New Front Main Seal
  • New Rear Main Seal
Here's what (I think) still needs to be done:
  • Brake booster (the booster the shop installed doesn't work)
  • Differential (shop messed up the diff)
  • Windows need fixed (shop messed up the windows)
  • Clean up slop in steering (pitman, idler, and PS valve were supposed to fix this, according to the shop)
  • New Tires
  • Alignment
  • Tune Carburetor
Here's the kicker. This is the stuff I think needs to be done. But every time I try to approach fixing this stuff, that's when things like the brake booster and diff go out. I keep trying to fix it, but it never seems to want to stay fixed.

Could other stuff go wrong? What else should I be accounting for here? Should I give up and walk away?
Old 09-04-2018, 02:11 AM
  #4  
Priya
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Tough choice. You've had lots of bad luck with bad shops. On one hand you hate to keep spending money on it but on the other hand you've already done a great deal of work to it that you won't get back if you give up on the car and may need to put into a different car if you buy used.

Are you firm that you want a C3 Corvette, or would some other car make you just as happy? If you're looking at another old sports car you could easily end up in the same boat you're in now.

I think I would come up with an estimate of how much the remaining repairs you think you need would cost and decide if that amount of money and what you think you can sell this car for add up to you being able to buy something else you like.

I'm a pessimist myself but if I was in your shoes I'd likely not give up on this car if it's got a good interior and good paint. The big expense you've got left is the differential. If you buy new or have new parts put in your present housing (if its salvageable) that's going to be a significant cost. You could buy a used differential for a lot less and get it put in but then you are wondering about the condition of the used unit. I'd look for a used unit that you can hopefully have someone knowledgeable look at for you, or one you have confidence is in good shape because it came from a wreck where the differential was rebuilt and the owner has receipts or one that's currently in a car you can test drive.

Have you been under the front of the car to see if the parts supposedly replaced look new? If it was an honest shop that did the steering work one would think there would probably not be a lot of expense left to get the steering right.

What's wrong with the windows?
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Old 09-04-2018, 04:51 AM
  #5  
zuendler
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Selling a not driveable car will cost you more than replacing the diff.
So you have to do it anyway. It´s doable at home, i did it already.

And then you want to replace the brake booster, no big deal if your back
is in good shape and you have thin fingers to work under the dash.
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Old 09-04-2018, 05:37 AM
  #6  
SB64
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I feel your pain as I am sure others have also. It's not an easy decision but one that needs to be made. I have often reached a point where I have had enough and even tested the market.Zuendler is right in the sense that it is hard to sell a project car and get your money back. So either take the loss or keep going. My only salvation is that all of the work is being done by me so that makes a big difference. Good luck with your decision. Looking at your list it seems like you might be able to finish if the money holds out.

RVZIO
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Old 09-04-2018, 05:40 AM
  #7  
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I recommend you keep the car, and take it to Bairs Corvette. You will not get ripped off there. You either want a Corvette or not. It is true that if you have to pay others to do work on a car, or anything, for that matter, it will cost you a lot more. Being able to fix things with your own time is a valuable asset, but not everyone has that skill set. But if your skill set provides you money to spend on the car, then you just have to look at it that way.
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Old 09-04-2018, 06:17 AM
  #8  
Eljay
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It seems like half of your remaining work is stuff these shops should make good on. No fluid in the rear, I would have towed right back to that shop.
Old 09-04-2018, 06:50 AM
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Easy Mike
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Do you want the car? You don't actually say you do.
Old 09-04-2018, 07:12 AM
  #10  
Bob K
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I understand the money pit syndrome. I’ve always liked the 78 body style. Looks like as long as the “bones” are good I would keep the car.

Can you replace the rear yourself? It’s not difficult. Bairs is a great place to deal with, but they are pretty far from you to have the car towed there.

Old 09-04-2018, 08:21 AM
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Originally Posted by Eljay
It seems like half of your remaining work is stuff these shops should make good on. No fluid in the rear, I would have towed right back to that shop.
Old 09-04-2018, 08:44 AM
  #12  
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For $6000 you could have had a new GM crate motor with much better performance and at least a couple thousand back in change. You're not doing your own work so my advice would be to sell and buy a later model low mileage car. Great deals to be had on C5's these days. I would get a used diff or fix the one you got, you'll take an awful beating on a car that can't be driven.

Unless someone has money to burn, 40 or 50 year old cars are not for people that can't fix'em themselves.
Old 09-04-2018, 09:05 AM
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If you are unable to wrench on this car yourself this $25K car will be a $35K car in short order. That's crazy money to dump into a 1978.
Old 09-04-2018, 09:18 AM
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derekderek
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you don't work on your own car. unless you are willing to google and youtube every repair, buy tools and do it yourself, this car or ANY car not under warranty is not for you. it is a simple car to work on. but a garage is a whorehouse. go there. pay money. get screwed.
Old 09-04-2018, 09:37 AM
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Originally Posted by Eljay
It seems like half of your remaining work is stuff these shops should make good on. No fluid in the rear, I would have towed right back to that shop.
OP towed the car away after 7 weeks. If it was from this shop, I'm sure it was not an amicable parting. Their defense will be "we weren't finished with the car and you removed it, not giving us a chance to fill the diff." Chances of getting a nickle out of them are slim and none. Sure he can take them to small claims court, but my money will be on the garage winning.
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Old 09-04-2018, 10:00 AM
  #16  
E.Murray
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I feel your pain. I named my car "Perseverance" about a year and a half ago. I bought it with a budget of $14k and 6 months. I'm at over double the money and almost 3.5 years. But it was continually that same question - Bailing out now means I'm left with something I can't sell (except at a huge loss), but the next step is $1,000 (or $3,000 or whatever). Keep moving or not? Literally every single last stupid step took many times longer than I expected and lots more money. I've been "finishing up" for a year and a half. Every weekend for the past year, I've said, "One more weekend and it will be done!" No exaggeration there. Every weekend for a year.
I'd have to agree with the rest of comments here. If I'd been paying shops to do the work, I'd have more than 50k in a 28k car (not to mention dealing with the geniuses who run the shops). If you have just some basic tools, a garage, and a willingness to learn, a C3 is a really good car to learn on. They're pretty easy to work on, not complex, and parts are easy to get. And when you're done, you have a Corvette. If you don't have the space/tools/desire to work on the car yourself, you might be ahead to bail on this car and either
1. Buy a finished restored car (you'd save money in the long run and keep your sanity).
2. Choose something more modern.
If numbers matching and the purist's thing doesn't bother you, there are lots of C3's out there that are ready to go for less than you have in yours. Mine is in the "for sale" section for 28k, for example (and everything is rebuilt on it). If, however, your goal is to build the perfect car for you, I completely get that. But it's never cheap...
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Old 09-04-2018, 10:25 AM
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Originally Posted by Easy Mike
Do you want the car? You don't actually say you do.
Mike kinda sums it up here. You have a car that has a max value that leaves no room for error so it’s all sunk cost. But, is this the car you really want to live with? If so, then you stick with it. If you settled for this car, get out of it and put your money and time into the car you really want.

After I found the ‘69 I was looking for, I wound up spending way over book on the car because I wanted it just so. However, I realized the only way I’d get my “value” was to enjoy the car, and I have. I’ve driven the heck out of it and enjoyed it since it was “done” (kinda) in 2009. That’s the only way to square your time and money investment with market value, because these cars get in the Red very quickly.
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To When Should I Give Up And Walk Away?

Old 09-04-2018, 10:41 AM
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kenba
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This is a classic reason to make sure what you think you are buying is what you get. If you expect a mechanically sound Corvette have it checked before you buy. Know what it needs before you buy not afterwards Most of the time its better to pay more for a Corvette that has most of the things done than spend less & buy parts & have it wrenched on..
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Old 09-04-2018, 10:56 AM
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ryanstreet
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Originally Posted by slammin
OP towed the car away after 7 weeks. If it was from this shop, I'm sure it was not an amicable parting. Their defense will be "we weren't finished with the car and you removed it, not giving us a chance to fill the diff." Chances of getting a nickle out of them are slim and none. Sure he can take them to small claims court, but my money will be on the garage winning.
That's correct. We did not end on good terms. So that's out of the question.
Old 09-04-2018, 12:13 PM
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Its tricky to schedule a differential replacement since you can't really move the car with it out. The best thing to do would be to raise the car in your garage/driveway, pull out the old diff, then send it, the half-shafts, and driveshaft out to be rebuilt (I can personally recommend Bairs for half-shafts, and GTR1999 on this forum). If it can't be rebuilt, it can be replaced.

I've never tried this myself, but perhaps a truck-based mechanic could come to your house to do this for you. They focus on the one job, you retain possession of the car.

You'll need a new diff to sell the car, and once you drive it, I'll bet you'll want to keep it!
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