Here's the car I am looking at
89 Coupe 6-speed 126 or 129k, can't remember exactly
Issues
Needs major hood repair - missing a chunk right above right tire
Motor is running on mabe 6 cylinders. Has fuel, spark is questionable (backfires)
Clutch lets up high, might need a TO bearing as well, shifts fine in 1st three gears, upshift or downshift.
Seat leather is trashed.
Rear hatch won't open.
Needs paint all around
Front suspension badly out of alignment, mostly toe, but right camber looks off too. Frame does not look bent.
Car starts and runs.. but barely.
Interior is otherwise intact, but filthy.
Comes with 89 wheels (1 bent from same hit that damaged hood) and a full set of 90 wheels in OK shape, straight but a little scratched. Car will need tires. New Crane cam and springs included.
AC.. didn't even check.
I offered $2500, which he accepted a few hours later, but I think I might offer less.

Here's my list of what it needs
Complete front suspension rebuild - bearings sounded fine
Clutch
Minor-major engine work. If it needs a rebuild, this will become either an LT1/T56 swap (have a fresh engine/trans), or LS2/T56 (have trans an 3/4 engine)

All said and done, I think I'll have ~$2800-4500 (plus purchase price) into the car depending on paint and hood options. $2k to get it on the track safely.
I am looking for a track car. I do all my own work.

Am I nuts?

anybody got a 89-91 6-speed coupe needing less for <$5k near Motown?

 

How can you offer less when you have already offered $2500 and he accepted? You already have a deal.
Bernie

 

either buy it or walk away.

 

That reads like a parts car to me. I'd have offered $500.

 

Perhaps I should have not said offered, we were discussing price. We're talking $$, not settling on one. Let me paraphrase here to clear a few things up.

Me:" Dude, I know you want $3000, but I wouldn't go over $2500... and I'm not sure I'd even do that".

3 hours later I got a PM from the guy that said "I'll take $2500... but only until Sunday. "

To which I replied - "I talked a little more with a buddy of mine that know these cars, and he is pushing me toward finding a cleaner car. He thinks $2500 may be a little high (I know what your thinking, sorry). He too is concerned that the trans/engine and suspension, not to mention body issues, will cost me more than finding a better running car. He's forwarding me some other cars to look at that are a little more, but in much better shape. "


His reply, pasted here, not my typing " yea ive considered parting out the car but thats just to much work right now... id never have the time to get anything off or send anything .. just gimme a holler if youre still interested"
So, is it a deal? No, I TALKED price with him, we have not settled.

I love the "until Sunday" part. Will the price go up then?

I told him maybe, and would have said $500 if I really wanted to seal a deal.. or get punched...

So getting back on the real intent of this thread, what do you guys think I should offer him. Is $500 a realistic number?
I forgot to mention that the trim/weatherstrip between the glass and the doorsill is cracked and split pretty bad too.

 

It doesnt sound worth it to me, unless you get it real cheap.

 

It sounds like you will have more money in it, than it will be worth when you get ready to sell. Now if you plan on keeping it for a long time and make a project out of it. It might be worth 2,500.

 

If he gave you that car for nothing and you fixed everything theres not a chance in hell you would ever see your money back.Always assume the worse

 

Unless you're going to make a track car out of it, or a parts car, I don't know how you could come out ahead (or even).

 

Walk away! Better deals out there. Ask Carl J. he was looking when he ran across the deal I gave him.

 

 

You can definately spend your money more wisely.
Bernie

 

Ditto for your time. Parts car or RUN away from that ****, pronto!

 

wow... you guys are 50/50 on this one..

I'll see if he calls me back, I might offer a parts car price if he REALLY needs to get rid of it. Other wise... run away!!!

Thanks for the reality check.. I never meant to buy the car as a fix and flip. My rationale was that if an 80k mile car for $6k needed as much suspension work to make it track-reliable, then I had a cheap roller to go nuckin futz with and didn't have to worry about resale. I have other PT's I can drop in (HotCam'd LT1/T56 and LS2/T56), and I am sure I'd have an off-track shunt.

I'll let him sit on it for a while. If I get if for $1k, I can part the car to the street rodders looking for C4 suspension bits...

Anybody have $4-5k car in good mechanical shape?