I am in a bit of a quandry that requires expert advice from my fellow Corvette owners. Back in December I purchased a 90 coupe with 35,500 miles for 8k. Brought it home and garaged it until the spring. Over the course of the winter I worked on it putting about $1800 worth of work into it the bulk of which was a Pioneer AVH-X5500BHS stereo and all four speakers and amplifiers rebuilt by Bose. Also, there was about $1500-$1600 of body work and paint to be done. About a month ago I registered the car and took it to my mechanic for an oil change and inspection. After putting the car on a lift he determined very quickly that the car had been a major, unreported accident. I say unreported since nothing showed up on CarFax or Auto Check. I took it to a restoration specialist who gave me an estimate of between $2200-$2500 worth of frame and undercarridge damage. Armed with the report, I returned to the dealer where I purchased the car. After two weeks he has offered to buy back the car for what I paid for it. Since he sold it in Dec. because he did not want to sit on it all winter, I feel that knowing exactly what it needs to be fixed and what I put into it, he would come out better than before. So my question is this: Do I sell it back to him and take a $1200 hit(I can remove some of the stuff I put into it) or do I go full speed ahead and fix it myself and end up with a total investment of about $13,500? I await your response.

 

$1500 worth of paint and body work and you didn't suspect a damage history? I can't believe the dealer offered to take it back. Just because CarFax and Auto Check doesn't report damage doesn't mean it never has been wreaked, anything over 10 years ago seldom made Car Fax. In cold climates minor accidents causing frame/undercarridge due to weather are very common, and if the police weren't called or an insurance claim filed, it didn't happen (according to Car Fax) Since it seems to be an issue with you, take the money.










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The fact the OP is even bringing this up now, means he will never be happy with the car.
Can't say as I blame him though.

 

Sell it back. You just learned a $1200 lesson. You're lucky the seller is agreeing to buy it back.....he could have told you to pound sand and sue him...which would have taken years. Next used Corvette you buy, I'm betting you'll ask the seller to put it up on the rack before you pull the trigger.

You're never going to like the car. Cut your losses.

 

I would take it back and just take the hit and give it back. Unless you really really really like the car

 

It's a tough situation to be in. I agree with the others that you are lucky to have the dealer willing to buy it back. Taking a $1200 hit is tough.

It sounds like you had plans for this car and have begun putting those in motion. If fixing it will make the car safe and what you want, it may be worth keeping. It's not like you'll be too deep invested.

 

Sell it backand take as much of your stuff back out---Did you try to ring the the Dealer up for your additonal loss???

 

Sell it and move on. When you let go of the steering wheel, the car goes around in circles.

 

If you decide to keep it and fix it, ask the dealer to cover the repairs. Looking at it from his point of view, shelling out $2,500 for the repairs may be a lot better than buying the car back for $8,000. If he did that, he'd have to either have it fixed himself or risk the liability for selling a car he knows has problems. If he fixes it he'll have over $10,000 into the car, then he'll have to sit on it while he tries to sell it to recover his money. He'd be a lot better off paying you for the repairs, or at least splitting the cost with you. And even if he only splits it, you're now in the same position of losing $1,200 that you would be in if you sold it back to him. If he pays the whole thing you're $1,200 ahead of where you would be selling it back. Of course, all that assumes it can be properly repaired for the $2,500 you stated.

 

Cut your losses now!...

I've spent more than $1200 trying out different exhaust systems.

 

Yep, sell it back. If you don't you will always wonder what future issues may be on the horizon due to the frame damage. There are some great deals out there and you can re-install your stereo components in a newer, undamaged Corvette

 

On the other side of this debate...If the restoration specialist is well versed on the C4 Chassis (important factor) $2,500 repair doesn't seem like the damage is all that bad. I could be wrong, but if the car is not driving "yawed out" right now, or pulling hard, it might not be that bad.

If you could that dealer to cover the repair, or even part of it, this might be worthwhile. That way you keep what you've done thus far, you get the problem fixed, and you don't have to run around and search for a new car to replace it. Just a thought.

 

How do you get the sales tax and fees paid to the state back?

 

Lets say you already owned the car and had an accident causing the damage. You would of course get it fixed right and know the whole story. Would you feel bad about it, yes but like I said you would know all the facts. In this case you will always have doubts, maybe regrets and it will be money you will never get back, because it always costs more than the estimate. So you're now upside down on a car you could have gottten out of easily. I say sell it back, get a clean car and remember I would rather spend "fun money" (want to money), exhaust upgrade, newer rims etc. than "have to money", frame damage, engine/ tranny repair. They come over time too but spend it at your choice.