Firstly, hello to everyone here on the forums! My name is Forrest, I'm 22 years old...heading into the Navy later this year. Have been shopping around for a car cruise around in locally this summer...after which I will either sell it or pass on to my brother.

Anyhow, I stumbled upon a 1987 Corvette on craigslist, and am leaning towards purchasing. It's competitively priced from what I have seen. I do not get the impression there are any major mechanical defects, the car seems to be in great shape and drives great. There is some wear-and-tear, but to me nothing unusual for a car of that age.

I was hoping to get some input from those wiser than I, admittedly I am not an expert on cars, and this is the first corvette I have ever looked at. I do kind of want something fun (although I do not intend to be drag racing down the street...got that all out of my system with a mustang I owned a few years back), I am not looking for a project car however.

To summarize its a 1987 5.7L V8 with the 4 +3 standard. 72,411 miles, original.
Paint is in good shape. All dash components/gauges and auxiliary functions work (A/C etc). Removable single-panel glass roof.

It drives responsively, shifts clean, no sputtering. Steering is a little stiff. I had it looked over by a local dealership corvette mechanic, and the following issues were noted:

Minor oil 'seepage' from various seals. This scared me a lot at first, however the mechanic seemed to feel it was to be expected for a car of this age.

Some of the fluids need flushing (in particular brake). Basically it appeared that the brake fluid had not been serviced in a very long time, if ever. I wasn't very surprised by this given the low mileage but am curious if anyone here has any input, or if this throws up a red flag.

Power lock on driver door is inop

Some of the driver seat controls inop (primary up/down forward/back and lumbar work)

"Left Rear Hub Loose" still trying to get a quote on this, does not seem like a major issue although one that definitely needs fixing.

Currently at $7200 with the seller, however when I get a quote on the LR Hub work, I will try to talk her down again.
Any input or opinions on the car would be greatly appreciated. Trying to do my homework before I buy!

Thanks!

 

Not sure about the "left rear hub loose" issue. My guess would be bearings?
If so, do them in pairs. It's a job any competent Corvette shop can do.
Had mine replaced a couple of years ago.

 

I'm not sure about that price. I obviously haven't seen the car but I sold my 92 to a friend and he recently bought a C5 Z06 and is considering selling the 92 now. Car is immaculate, over 400hp with a built 700r4 and a D44 rear. Mileage is comparable. I built the car, I know it's nice. He would probably sell it for 9K or a little better. I personally like the later C4's better. That's just my preference. I'm just saying to look around. Lots of nice C4's for pennies on the dollar.

 

FYI I purchased my 96 convertible for $11 with 87M miles

 

For a Vette with those issues the price seems a bit high.

If there is "oil seepage" it is not "normal", IMO.

Does your borther turn wrenches?

I'd price out the repairs and keep looking.

 

Rear hub is an easy fix. You get into replacing gaskets and that can be costly depending on which ones. Typically you can count on the valve cover and intake gaskets going. I think the price is high for what it needs. Im sure if you waited and looked some more you can find a better car for cheaper. Most importantly, dont be in a rush and dont be fooled by a car that "looks" nice. Good luck in your search.

 

Price is way too high.

 

You did not say where you are The price can vary by location. Here an 87, without the problems that you mentioned, goes for under 6k.

 

Picked up my '90 two years ago in South East PA for 4000. Had a cracked roof panel, weepy motor, and the previous owner thought the heater core was clogged (was just the blend door motor). For better or for worse I have at least that much in a 383, suspension, shocks, and tires. I either need to stop modding or stop adding it up!

 

I agree to high...Run Forrest...Run. Sorry I just had to. Good luck with whatever you get but I would try and stay with the later years if you are able to.

 

Remember there is no such thing as a cheap Vette. There are low priced ones that typically take some time and $$ to fix all the little things, or is that major things? Nicer condition Vettes will typically take more $$ on the front end and hopefully less in little things.

Overall though, all Vettes will take time, $$ and work to keep them in prime running condition. You need to be willing to devote all 3 to keep it running well. In addition, having mentioned you're going into the Navy soon, what would you do with it while deployed? IMO inactivity is hard on any vehicle but Vettes seem to like attention. You may end up spending a lot more getting it out of storage than if it had been driven.

It may make more sense to wait till you're through with the service and look for one then.

Just some thoughts.

 

I have an 87 as my DD. I truly love it, and will never part with it; the C6 would go if things ever got dire.

I got the 87 in 1991 from an older couple when I was in my 20's...second owner. It was wow, led to even more wow, mind blowing, and truly awsome experiences...and is involved with most of my favorite memories. I drove it all over the Northwest, and it now has 150K.

I purposely got an 87 auto as dad worked at a Chevy dealership, and the autos were the most trouble free. He did not necessarily approve of the purchase, but was tickled to give me genuine GM presents for it each Christmas and Birthday for about 10 years.

First major thing to go was the front crank seal, which I replaced at 100K, and sleeved the balancer. I put on a new timing chain and oil pump (without pulling engine) at the same time. Reverse went at 25 years old, so I had the 700R4 rebuilt for about 1K, and rear main seal replaced while they had it out. Two alternators (10 minute job), a water pump, and starter along the way....and lots of tires. I did all this in the driveway with very basic tools.

In the last 27 years, I have seen only one 87 that was in as good of shape, but I would only expect about $6K max for mine given my mileage.

The single best money I ever spent was $40 on MAF relays...cured a 5 year intermittent on and off love affair with the check engine light. The single smartest thing was to drill a hole in the wheel well inline with the number 4 spark plug to facilitate easy removal.

No Corvette service or parts cost ever hurts or feels bad if you truly love the car. With this forum, and youtube, you can fix anything. I had no such advantage over most of the last 23 years; armed with only the Chilton manual, which is lame compared to the FSM which is now readily available.

For you, the biggest cost might be insurance, and the biggest long term cost might be each day you don't have it (spoken like a true 50 year old). It looks to be in nice shape and well cared for. If it is the exact car you want, try to get it for $6,500 to $6,800; if not exactly what you want, then a bit lower. If the seller seems very firm, saving a few hundred wont mean much unless you have a big thing with getting a deal (I did). Not everyone can own one of these, and the seller has a very limited pool of buyers.

Weigh all the things others said above...some very sage advice.

I would say storage is the biggest issue to balance. If that is licked...then do it. You may have challenges, but won't have any regrets.

 

I'd keep looking for one with no issues. You've got many hours of work and/or many $$ needed to just get the car to a no issue status. You're bound to have more problems as we all do so starting with a good baseline is all the better.

 

I agree with many others in that you can certainly find a better example in the $7,000 range. However, those are pretty good miles and it seems that the majority of the issues seems relatively minor. This would be nice car if you were good with a wrench, and were looking to keep it for awhile.

However, in your case, if you were looking at passing to your brother, I would consult with him as well, keeping the previous paragraph in mind. As far as reselling, try to make a deal that you feel reasonably comfortable knowing that you can get most of that back. If you can do the work that needs done, you should be able to, depending on your market.

Although this is a Corvette forum, I will also throw this out there. If your looking for a fun car for the summer, for the price range your in, look at LS1 f-bodies as well. For this money, you should be able to get into one that needs almost nothing.

 

I owned an '86 coupe that I really liked, but based on that ownership, there are two major things I think you might want to consider: 1) the 4+3 is junk; impossibly expensive to fix; and not worth the investment to put in just a simple 4-speed, or more exhorbitant 5-speed or 6-speed; if it is working now, it won't be for long - your brother will hate you; 2) the dash units seems to have been manufactured on the weekend by a night shift high on weed as they are almost always in need of something. In my opinion, the price is about $3000 too high.

Just my $0.02

 

Nice looking car with stiff price. You might be better off with a 89 or newer if you are wanting a manual transmission. The 4 + 3 can be difficult in more ways than one.