Hi everyone,

I'm new here, but I'm really glad I found this forum. You all seem to be so helpful (I pray you'll be easy on me)! I've read many of your posts to similar questions about cars in good condition, but sadly, mine isn't. :-( Still, please help!

I am very ashamed - I've let my older Vette get into pretty bad shape. It basically runs good, just looks bad. "Fixing it up" has always been on my list, but with a job from hell and other things having to come first (like replacing the gaskets in a leaky fuel rail)... well, you know how it goes.

In a desperate effort to "make ammends," I recently bought a 2002 C5 Convertible (I *promise* to take better care of it this time!) but the Chevy dealer here in Dallas offered me a trade-in value for my '89 Vette of only $1000. I about choked! For that price I decided to keep it.

Now someone is offering me $3000. Should I break down and take it?

I still feel the urge to fix the car up and give it back some of its dignity. However, maybe I need to start being realistic and admit that I may never have the time. :-(

Here's a detailed description of the car and its condition (items not mentioned are in working order, of course!)...

------------------------------------------------------------

1989 Corvette Coupe, 101K miles, automatic, burgundy
Black leather, everything stock with Bose cassette

Still runs well and dependably, rides well, although cosmetically
I think it might be considered to be in "rough" shape (it's seen quite a bit of sun)

The following things are wrong with it:

- For last 6 months, coolant requires periodic refill, oily residue visible
in antifreeze (could head gasket replacement be necessary?)
- Runs sluggishly in very hot humid weather (95+)
- "Check Engine" light sometimes comes on during long trips
- Needs new paint (although I've wet sanded the entire hood and it
looks good wet! :-)
- Needs new tires
- Mufflers and pre-muffler pipes rusting
- Stereo speakers make much noise at low volume/related to engine RPM
- Passenger-side power lock not working (must lock manually)
- No leaks, but where window comes out of door, weather stripping needs
replacement and hatchback weatherstrip should be reglued
- Passenger seat seam needs to be re-sewn,
leather needs reconditioning including steering wheel
- 3 of 4 instrument cluster lights are out

-----------------------------------------------------------

My main question concerns how much these flaws detract from the low book value.

Also, if it gets down to selling it at such a low price, I'd rather see it go to a Corvette enthusiast... someone who will make the car happy again. :-)

Thanks so much for your time,

TJ

 

you should get at least 5-6 thousand for it :D

 

If it's got a head gasket going on top of the other problems, I don't think $3k is far out of line. One of the forum members sold his good running, good looking 88 for $5,000 or $5,500 a month or so ago. His may have needed paint, but not a lot more. Put a $5,000 tag on the car but just be willing to accept less if it doesn't sell quickly enough.

 

$1000???? :eek: That dealer was trying to steal it from you!

Even in rough shape you should easily be able to get $3000 to $4000. If you held out for awhile you could get it but you may just want to take the $3000 offer. You figure that the buyer will have to fix the head gasket, get new tires and paint it. It sounds like a deal for someone who could do the work themselves.

Smart move on not GIVING it to the dealer.

 

Well, considering that the dealer has well over $1,000 of "bargaining" room on a clean deal, what it basically boils down to is that he wasn't charging you for the disposal of your car. Dealers don't want "project" cars because they can't get rid of them, so they basically take what they're going to give you for it out of the headroom on the selling price.

 

Hi again y'all,

Thanks for the suggestions. It really helps!

I would've thought dealers would have connections to people who would really know what to do with such cars, even if just to part them out. (Well, okay, maybe not, because used parts compete with their enormously priced new GM parts...) But why can't they, at the very least, connect you with more of a "sales network" just so they can give you more of a *fair deal*?

I'd think that the wheels alone on the car are worth more than $1K.

Now I could imagine if my car was an '89 Toyota or something (I know a guy who got the same $1000 trade-in for his junky old Toyota*), but this is a Vette of course - has collector appeal - and the car still looks bad-butt despite its dull paint and is still damn fast!

Thus a friend said I should've taken that $1000 offer as an insult and a sign not to trust the dealer and taken my business elsewhere - plus I didn't haggle much on the list price of the C5 I bought (but it was exactly the car I wanted and I wanted it bad!)

Anyway, the guy who offered me $3K doesn't seem like he's too good with cars. I think he wants to make it into a low rider or something. Like I said before, I'd rather sell it to a person who really appreciates Vettes. ...or am I taking this all too personally?

Thanks again!

TJ

(* - sorry if I offended any Toyota fans :) )

 

Oil in the coolant is probably not a head gasket. On my 87 it was the intake gaskets. My coolant was gross, milky, etc. There was no coolant in the oil at all. If that was true I might more suspect the head gasket.

I would do whatever you want with your car. I would be picky on who I sold mine to, even though it sounds dumb...I mean, I get attached to my cars. Unless you are in a bind for money, I wouldn't give it away. Maybe try to fix some of the simple, low cost stuff and you might be able to get a little more for it. :cool:

 

Heck I'd give $3k for it. Cuz the 89 has many advantages. All that stuff that's wrong with it is pretty minor, normal maintence stuff. (I'd say new radiator, hoses, and cap) Maybe new bulbs in the dash.

 

I would too BTW. :) You don't have any pics you can post of it do you? That might give us a little better idea of it. I mean 101k miles is not that high. I would say start at like $4950 and say negotiable. But I still think $3000 is a little too low.

 

Sell it to the person who offered you 3K ...I'll bet it will be his/her first Corvette and they will take care of it. Not like you and let it deteriorate. I think maybe the Chevrolet Dealer should have taken a look at your 89 and refused to sell you the 2002. You are a Corvette abuser...you get no sympathy from me.

 

Quote
'Well, considering that the dealer has well over $1,000 of "bargaining" room on a clean deal, what it basically boils down to is that he wasn't charging you for the disposal of your car. Dealers don't want "project" cars because they can't get rid of them, so they basically take what they're going to give you for it out of the headroom on the selling price.'

I think your right about the $1000 to bargain with but I bet that guy would not have a problem getting that $1000 back...and some. He would just send it to an auction and get 3 or 4 grand for it or I am sure he has contacts that would be interested in it.

I am sure everyone has these stories and I know the dealers have to make their money but it still just doesn't seem right. You have to question their ethics. Your stuff is always junk and theirs is always gold.

 

As an ex-EDS employee, I can tell you for sure that the dealer markup on a Vette is 15% at a minimum. We were able to order Vette's on option 1 and that was 20% off of base and options. This was generally 3% less than the dealer was billed for the car. Plus, depending on GM deals, the dealer could actually get more off that we did. GM offers the dealers different incentives thru the year depending on certain items they want sold. There is also the dealer holdback that GM collects and then returns to the dealer if they meet specific sales goals. Don't ever think the dealer is doing you a favor!!!! He is out there to make money and no matter how they try to make you feel as if you are important to them, if you don't buy it someone else will. I get a real kick out of the commercials that claim $x over invoice. That is the biggest load of meadow muffins to come down the pike in a long time. I bought a new car from a chevy dealer who didn't know I qualified for the discount. I had looked at a car on his lot and then went back and found the real cost for the car. He balked at my offer at first and then changed quickly when I handed him the printout I had showing the real price. Needless to say he sold me the car at my offer price. I can't believe that in Dallas you are having a problem getting a decent price even if the car needs work. If you want a quick and cheap way to help the sale price, go over to PEP BOY's and buy tires. You can get out the door for just over $600 and the tires aren't bad. They are made by Cooper but sold under PB's brand name. If you have time, drive out to Colleyville and have the Vette dealer there (it used to be Corvettes by Wes) and see what he would give you for it. You can then add at least $2500 and know you are in the right ball park.

 

Ouch! :( I'm sorry! People can change, really, they can! And I am going to. I'm so sorry, please forgive me, my poor '89! :(

I actually took good care of it (outside) until the late '90s, then my life, job, and everything went all to hell. I have, however, always taken good care of the engine - oil changes every 3K miles, etc.

It sux when you drive your Vette to work and they don't have covered parking, so the car either sits out in 100 degree summer days or under a tree and gets drenched in doo doo.

I'm already doing better with my '02. It only gets driven on weekends and now I have a used truck to beat up with the daily commute. If I hadn't gotten it, I would've never had a chance to redeem myself!

(I'll try to get some pictures put up before long... Thanks again all!)

 

Hey AJ, thanks for the good advice! You guys are talking some sense into me. :)