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I bought a 1977 L48 automatic Vette a few months ago that was a beautiful car cosmetically but needed some mechanical work. I learned a lot from that car but at the end of the day it needed too many details fixed to make it right so I just recently passed it on to a new owner. I bought it for $5k, put almost $3k and tons of hours into it and sold it for $9k. I have now found another 1977 car but this one is a L82 4-speed and the owner is asking $6500. He says it runs and drives but needs brake and A/C work. I'm not trying to flip cars for profit but at the same time I don't want to end up upside down in the car. I know much more what to look for, especially on a 1977, so I'll have a better idea of what I will have to put into the car but what is a daily driver quality L82 4-speed car worth? This one is red with black interior, t-top but I don't know if it is numbers matching yet or even if it was originally an L82 car. Thanks in advance for your advice.
You flipped a needy 77 for 9k with 8k into it so you are already the guru at this,
But want to pay 6500 for another 77 with its own problems,
Perhaps you have a golden touch and will drop 4k into it and flip it for 15k,
I would have guessed needy 77s would fetch about 5 to 7 perhaps more if they can be safely driven,
You flipped a needy 77 for 9k with 8k into it so you are already the guru at this,
But want to pay 6500 for another 77 with its own problems,
Perhaps you have a golden touch and will drop 4k into it and flip it for 15k,
I would have guessed needy 77s would fetch about 5 to 7 perhaps more if they can be safely driven,
The last part was helpful so thanks for that. The first part was just offensive and rude. Not sure why you felt compelled to put that in there. Was there something offensive in my post?
The last part was helpful so thanks for that. The first part was just offensive and rude. Not sure why you felt compelled to put that in there. Was there something offensive in my post?
No, there wasnt anything offensive in your post,
Tone is lost in type, i post like i would stand and talk to a cat.
i wasnt being rude or offensive, you will see as others chime in most loose money on c3s its a running joke here and selling one car with problems to buy another with problems is ironic at the very least,
In general nice driver condition 74 to 77 base models hit a plateau and hover there having to be super special to rise above it, in my mind it was about 10k perhaps its gone up
and no thats not meant to offend either
Is an L82 4-speed still considered a base model? Does that increase the value of the car in any way? It's a more desirable car for me than the L48 automatic but I'm not sure if that translates into more or less real car value.
I'm not just selling one car with problems for another car with problems. The first car suffered from too many people doing sub-par repairs so it would have cost a ton to put it back right. It took all that I did just to turn it into a road worthy car that could be safely driven. My hope is to upgrade to a car that is at least still mostly correct so I only have to fix what is there and not replace a bunch of stuff that is just not correct for that car. Plus the upgrade to L82 and 4-speed is a bonus.
Edit:
I consider while perhaps unfairly due to low hp all 74 to 77s base model but no the car you want isnt "base" by true definition.
It sucks when any poor car got molested by hack jobbers in its life,
I havent a clue really about the L82 option it's the better engine it adds something but i know that 4 speed is so darn sought after it makes or breaks many sales so much so its kind of rare to find the car you want and at a super price,
I budget myself when i went vette shopping again in 09, convertible was the must then 68 or 69 then 4 speed and an entry price that was low for a chromie,
My 69 was is a Frankenstein, it had a nicely done but 73 modded front clip and automatic a base model convertible 6200 to my door,
And im nearing the end of a frame off rebuild. BB, 4 speed, road racer theme.
Rust is the value killer but if your 4 speed 77 is okay , nothing serious on rust i could see 6500 being a steal,
Its super cool you can flip into what your really want,
4 speed alone is worth that
pretty easy to spend several thousands extra on a car after purchase. sales tax, title fees, acquisition costs, inspections and repairs to pass inspection ( some states ), insurance, battery, hoses, etc., just to legally put it on the road.
a numbers matching L82 car will sell for a couple thousand more, but will cost you more to buy also.
plus you have to value your labor into the project.
the biggest value killer is rust and paint issues, then drivetrain issues, then the nickel and dime stuff that can amount to thousands.
number cars really mean nothing, I doubt the appreciation curve is any different. you just have to buy in at the correct price. ( don't pay numbers prices for a non numbers car)
pretty easy to spend several thousands extra on a car after purchase. sales tax, title fees, acquisition costs, inspections and repairs to pass inspection ( some states ), insurance, battery, hoses, etc., just to legally put it on the road.
a numbers matching L82 car will sell for a couple thousand more, but will cost you more to buy also.
plus you have to value your labor into the project.
the biggest value killer is rust and paint issues, then drivetrain issues, then the nickel and dime stuff that can amount to thousands.
number cars really mean nothing, I doubt the appreciation curve is any different. you just have to buy in at the correct price. ( don't pay numbers prices for a non numbers car)
Yes, that's the situation I got into with the first car and what I am hoping to avoid with the second car. It was a bit of a struggle to get out of the first car without losing real money....I know I lost if you consider the time and effort I put into the car but I don't count that as real money. I still enjoyed the first car and loved driving it. It got compliments everywhere I went but I'm a stickler for things being right and that car was not going to get there without a lot more time and money. If the L82 and 4-speed options don't add any significant value to the new car then I have to be careful about how much I pay for it versus what I find that it needs in the way of repairs when I go to look at it. I have my fingers crossed that it has not been hacked up too badly.
...Is an L82 4-speed still considered a base model?...
No. The base engine was the L-48 and the M20 4 spd was standard. The L-82 and M21 4 spds were optional and the buyer had to pay for them. Does the car your looking at have the M20 or the M21?
I don’t know, I won’t be able to see the car until Sunday. It won’t be a make or break point for me I don’t think. Unless there is some major issue with one of the transmissions that I need to watch out for?
No, the diff is minor gear ratio differences. Bats was paying you a compliment. Usually people buy them for 8k, put 3k and tons of hours in and sell them for 6 and feel lucky. You probably paid yourself about $2.50 an hour. Assuming about 400 hours work total and 1k markup.
No. The base engine was the L-48 and the M20 4 spd was standard. The L-82 and M21 4 spds were optional and the buyer had to pay for them. Does the car your looking at have the M20 or the M21?
Exactly right. An L82 and 4 spd on a ‘77 is about as far from a base model as you could get that year. Absolutely worth a premium.
I bought a ‘77 L82 4 spd with about 18k miles on it in the early 80s and it was a fantastic car.
I bought a 1977 L48 automatic Vette a few months ago that was a beautiful car cosmetically but needed some mechanical work. I learned a lot from that car but at the end of the day it needed too many details fixed to make it right so I just recently passed it on to a new owner. I bought it for $5k, put almost $3k and tons of hours into it and sold it for $9k. I have now found another 1977 car but this one is a L82 4-speed and the owner is asking $6500. He says it runs and drives but needs brake and A/C work. I'm not trying to flip cars for profit but at the same time I don't want to end up upside down in the car.
If you are unwilling to end up upside down, you should not be looking at "inexpensive" C-3's. These are 35 + years old cars that require a lot of maintenance and repair and are money pits. Fully restored Corvettes are expensive and MIGHT hold their purchase price (but don't count on it). If you must have an "inexpensive" C-3, look for one that the owner has poured much money into, has become disgusted, and is trying to unload. If you buy this, you MAY limit your cost exposure by completing the repairs/restoration, OR, you MAY have bought a piece of rusty junk . This is a hobby. People own them for enjoyment. These are very few owners who have left the hobby with more (or even close to the same amount) of money than they brought into it.
I used to buy 10 year old accords at the auction for 4-500 bucks. Fix timing belt or trans or light nose hit. 35 buck quart of paint. Sold 2 weeks later for 15-1800. The people that have to get to work tomorrow aren't shopping for Corvettes. It's a luxury item. They don't have to have it. If you want to buy fix and sell something and make a little money that's the way you have to go.
There wasn't a lot of options regards performance to my limited knowledge in '77s. I bought a new 1977 L82 A3 in 1976. List: $10,915.00. I paid $9,500.00 for it. The L82 was 220hp, chrome air cleaner housing, chrome covered the ignition at the firewall. The valve covers were brush alloy with front to back fins. Very choice looking.Mine was optioned with cruise control PS PB AC AM/FM TILT/TELESCOPIC WHEEL, rear window defogger. That's about it. It had spray painted grey rallye metal wheels with the chrome rings and chrome hub cap. Sport factory mags were an option mine did not have. The L48 was not very pretty under the hood. Black and red paint as I recall. 190hp.
Last edited by Skid Row Joe; 11-22-2018 at 06:23 AM.
11-21-2018, 10:26 AM
Another 1977 Vette
