I came across a 1970 LT-1 the other day. It is a 3 owner vehicle. The current owner is an highly regarded Harley mechanic in town and trustworthy without question. The car has sat undriven for 23 years with 56k original miles. The car was garaged because he lost his license for hot rodding his camaro too much (not the vette since he was afraid of an accident in a fiberglass body). I need a little advise on buying the car. I am not looking to be a full restoration ASAP, just make it mechanically safe and operable. Asking price is $12,000. Details are below and any help would be appreciated. I apologize for the length.

1970 LT-1 in Donnybrooke green, coupe with matching numbers; missing the original IG ignition (in favor of points) and the original air cleaner; original bow tie valve covers are present but not on the car (one was cracked due to overtightening). The original owners manual is in the car; the interior is green; the passenger seat is split at the seams and some of the handles and ***** are missing; body is excellent; paint is fair with one warn spot on the cowling over the wipers, and some cracking in 2 places; power windows as the only option; no AC, power steering, power brakes; has side pipes and rear pop out glass.


[Modified by wireless guy, 7:02 PM 4/19/2002]

 

IF it's a real 1970 LT-1, then you would be one sorry MF'er if you didn't pick it up for $12K

 

23 years is a long time! Every system will need a rebuild after sitting for that long. I get nervous after a few years, but 23 makes me downright scared! :eek:

$12k, then paint, rebuilt engine, rebuilt trans, rebuilt rear, rebuilt brakes, new tires, new interior, etc. You will be upside down in value on this one real quick...

-Joe


[Modified by Flareside, 11:40 AM 4/19/2002]

 

If it is a truly matching #s '70 LT1 (VIN & codes on motor & tranny), $12K is a steal. Restored LT1s (especially 1970 - low production year) are going for 2-3 times that.

Mark

 

I was originally looking for a LT1 and did a lot of research on them, but had to settle on the L46 engine because they were major $$$. Only 1287 produced. Like the other post say, if it's a true LT1, 12K is a great price, even though you'll put some money back into it. Good thing about putting your money back into this one is that you'll probably get it back out if you sell it. Another 12 to 15K invested in the car would be worth it. My .02 worth! Oh, by the way, if you don't want it..... let me know!

Robert
'70 350/350 4-speed coupe
'98 6-speed coupe

 

That's a tough one. You already have several opposing views! From, "snap it up immediately" to "You will quickly have more in the car than it is worth"

You say the air cleaner is not original. What about the carb? (If it is the right # and date I would bet it's the original). The sidepipes were not a factory option, so not original. 70 LT-1 is a rare and desireable option, but a green coupe is less desireable than say, a red convertible. :) The 70 model year has some rare and expensive parts. Since the car is presented as "mostly original" I would check for some of those parts, like the front grill, maybe the alternator. (Arent original 70 exhaust tips rare?? Probably missing with the sidepipes!)

I see both sides of the arguement: It's hard to say the car is worth less than $12k, but it also will be easy to put more into it than it will be worth. MJ

 

Some things to look for just to be sure it is an LT-1.
CTK engine suffix.
Holley carb. R455A.
6500 red line on tach.
Single fuel line, split to each carb bowl.
2 1/2" exhaust. Not 2"!!!!
Large radiator, 27" and no expansion tank.
No AC!!!!
If there is no documetation, tank sticker, protecto plate, etc. the value will be something less but these cars range from 10K to 42K.
Good luck, and if you decide to not buy it let us know. I will come look!
Dean

 

Buy it ....Even if it is "no-Sale" green it is still a good deal

 

I'm curious what you guys think about the 23 years of inactivity in a garage? Nobody seems to be addressing what is, to me, the biggest issue here.

Heck, I'd love an LT-1 for $12k just like the next guy!

 

It all depends on the garage.... I've seen cars that sat for 20+ yrs. in a garage that needed very, very little to get it on the road.....
I've also seen cars that needed just about everything. Why ?

IF the garage during the 20+ yrs. didn't fluctuate a lot in humidity or temperature then the car should be pretty decent. My worries would be the "oil" - rubber bushings & parts - "hoses" - old gas in the tank, etc. :yesnod:

The fluids need to be 'tested' in order to acertain if any problems have occured... such as the carb. is probably 'inoperable' and will need a rebuild if the gas wasn't drained out. Also, the battery might have 'leaked'.

All rubber parts need to be checked for cracks & dry rot :chevy

 

The car was originally stored in NJ (not sure if a heated garage). It has been in Tucson, AZ for the last 8-10 yrs.

All hoses, belts, fluids, bushings, will be replaced, as well as thermostat, radiator rodded or replaced, carb rebuilt, tank drop and cleaned, brake system rebuilt including caplipers and hoses.

 

We had a body off restored 1970 454/390hp 4 speed with the same color combo (Donnybrooke Green/green) but with leather seats. The car was gorgeous after the resto and the motor was original (rebuilt, balanced and blueprinted) and had a heck of a time finding a buyer. Seems like nobody wanted a green/green car. I wouldn't buy one.
Just to throw my 2 cents on the fire.... If it hasn't been run in 23 years, there's more than $20k worth of work that needs to be done to make it perfect.

 

Wow! That is very interesting. I knew the color was a negative, but I didnt think it was that big of a deal. Personally, I like the color and would not let the color prevent me from buying an otherwise good car. However, my wife wouldnt let me!! She said, "No Orange cars, no yellow/brown cars" (She was referring to Warbonnet Yellow). She isnt wild about green either. So I got a blue one. :) MJ

 

I'd say go for it!!!,..maybe offer him initailly $10K,..even if it is the less desireable green and you have to do some rebuild/refurbishment/restoration work. I don't think that you'd be too many $'s behind if the car is a true matching #'s car and has documentation,.i.e. protecto plate, window/tank sticker. A ,for real 3 owner, 56,000 mile, '70 LT-1 would be a great deal for most people looking for a car with great fun/driveability and some continuing appreciating investment potential. Speaking from experience, I just recently purchased a 2 owner, high mileage California car, documented '72 LT-1, T-top, Targa Blue, all original,.. right down to the original spare tire for less than $12K, with about $18K of receipts over the last 18 years from the prior owner..my car had not been driven much in the last decade,.< than 10K miles so yes, as others have posted here, alot of things like valve seals, hoses, w/s,interiors, and leaking calipers, trans, rear pumpkins, power steering etc. r going to be normal replacement/rebuild items especially over 23 years of inactivity. I had a mechanic and a fiberglass bodyman go thru my car before I made an offer so I knew where I stood before negotiating a purchase price. I found that some of my leaking/dripping stopped by just exercising/driving my car. I wish you luck and I think that you r on to something good there. As u know, of over 66,000 vettes from 70-72, only < than 5,000 had the LT-1 option and the '70 is a true high performance engine before all the EPA crap started being installed. Tom :chevy Save The Wave!!! :cheers:

 

$10k is the price for a matching # LT-1 in the condition you describe. A friend of mine sold a running '69 435hp coupe in similar condition for $10k. That was a matching number car that was needing a complete cosmetic restoration but was mechanically pretty good.

 

Ask your wife why she dosent like War Bonnet Yellow!!!!! :mad :mad :lol:

I personally would love to have any 1970 LT-1 regarless of exterior interior color. Thoses cars are Bad butt. $12 grand fro a number matching LT-1???????????? GO FOR IT.
John

 

The car sounds very attractive if it is an original. But, yes you need to plan on replacing all the seals and rubber in the car. Had it been stored in AZ all those years, probably not. But N.J. is another matter. One year in N.J. would be equal to 10 in AZ.

I'm curious why the distributor change. The TI has always been the hot ticket. MSD makes the closest thing to it today.

Drain the gas (tank, lines, & carb) and oil. Flush everything out if you can. If the car hasn't even been rolled around a bit over the years, the wheel bearings may have been damaged and need to be replaced.

The rings may have rusted to the bores during all the years. Remove all the plugs and squirt a couple cans of penetrating oil into all the cylinders. Also, when you refill the crank case with oil, pour oil down all the push rods, lifter valley and rockers to lube them up a bit too. Spin the oil pump with a drill attachment if you can. Don't turn over the motor yet! Squirt a lot of good motor oil into all the chambers and let soak for an hour or so. Now, slowly turn the engine over with a wrench on the crank pulley. You may have to rock it back and forth a little if there is a little ridge left from the rust. Once the engine pulls through smoothly several times you can probably put new plugs in, prime the carb and start the motor. It will smoke horribly with the oil in combustion chambers, but it should clear out in 5-10 minutes.

Don't rev the motor much. Some of the valve springs are probably weakened by being in a compressed position all those years, a job for the following weekend! If you can jack up the rear and let the drive train with new oil and grease run a bit that would probably be good too.

Hope this helps, please keep us all posted on what you do! The 70 LT1 is probably about the best behaved, spirited Corvette made until the new ZO6. Zora clocked a faster lap on a press day with the LT1 (which was supposed to be released in 69) than with the ZL1. Truly a fabulous car. I ran mine as a factory spec 370 horse LT1 and loved it! Everyone will always love the '70 LT1 :yesnod:

Chuck


[Modified by Chuck Harmon, 6:53 PM 4/19/2002]

 

Because of the location it was stored(NJ), I would bet there is alot more deteriation then you realize. As long as you have a solid foundation, frame, uncracked body, the asking price is fair. Though don't be surprised if you end up dumping another 5000.00+ into it to make it trustworthy. That motor is more than likley hurting for a refresh. That surface rust on the crank journals, and cylinder bores will not do alot of good for the motor once it has been started. You may want to consider priming the motor before it is started. Get the lubricants circulating.
Approach it with caution. :cheers:

 

green/green is the only color they made them in :D

 

I know there were only 1287 LT-1s made in 1970, but does anyone know the quantity made in coupe vs vertible and how about the number that were green/green. Trying to determine the rarity of the combo since the consensus seems to be to buy.