PLEASE HELP - Corvette c4
 

Hi all,
Completely new to this site, i am visiting here from the uk for two months and looking to take advantage of fuel prices here, my fathers friend who is a motor dealer has offered me a corvette c4 Automatic, soft top convertable 1991 in white, it has 125,000 miles on the clocks and had a broken radio, radio speaker, seats arent adjusting properly and the seat has a rip... also when i took it for a test drive and found the airbag light came on and abs light, i am looking for something to have a play about with out here and then sell (i have someone who can do the deal if i have left the country) apart from those faults everything else seems good. ive managed to get him down to $5600. my question is, firstly is it worth buying at this price? and i would be looking to buy and make immaculate and then sell, is there a market for these? as i went down to my local ideal classic car shop and they said it would be nothing other than a money pit and said there's no market for them... but they could be bias. all opinions on this are greatly appreciated as time is ticking and i can not decide what to do!

Thanks in advance
Elliott

Welcome Elliot.

My first take is that the price is a bit high for the amount of miles and the condition.

The 125k mileage does not scare me IF the car was properly serviced and maintained.

The INTL REST light could be a bunch of things from a simple re-set (disconnect the battery), cleaning of the senors on the frame or a bad CCM. The ABS could just need a sensor, a rebuild or could be more.

Interior is a question of taste. Some can handle rips, while others can not.

As far as money pits go, the cars are at least 20 years and older so expect maintenance. If you find a clean one with solid service records, most will run and run and run well.

So... Post pictures on the forum and you will get good direction. Also check out the "for sale' section and start to scour Craigslist, Auto Trader and Car Guru. Put up the links and we will point you in the right direction.

Thank you for the speedy response!,

i appreciate the advice, i have no problem with the faults and am happy to get them repaired, i'm just worried that once all faults are fixed whether i will be able to at least break even on the car, ive scanned ebay and craigslist etc and there seem to be a range of prices, i will attach some photos
https://cimg9.ibsrv.net/gimg/www.cor...aa4d711ac7.jpg

https://cimg0.ibsrv.net/gimg/www.cor...70d253b75d.jpg

https://cimg5.ibsrv.net/gimg/www.cor...337492c7bc.jpg

https://cimg6.ibsrv.net/gimg/www.cor...1c39730f33.jpg

also tyres are all continentals and have plenty of tread left and disks and pads look new, the main thing i would like to do it buy it make it perfect and then sell it on for about 6-7k

check the date codes on tires, age is important

From what I understand, you are going to use the car 2 months here, fix it up, then try to resell it and make money. The car is a desirable 1991 for a couple of reasons. However, under this situation you would be foolish to buy the car.

I'd agree. Your time window is really tight for your "problems" to get fixed, then market and selll your car. Most people don't buy Corvettes to "fix and flip" as there are too many variables.

Work a deal so you can rent the car, have fun driving/fixing it and turn it back in just before you leave. The best of all worlds.

BTW, the car does look reasonable in the photos

If you're only going to be here for two months, you may not be able to get those repairs done within two months. You wouldn't be able to use the car while it's in the shop, and where would you be if the shop ran into problems, or turned out to be a less-than-reliable shop? I'd suggest you find a way to enjoy your short stay here, rather than creating something for you to worry about! That sounds like a money loosing opportunity to me! There's probably a Corvette somewhere for you to enjoy as-is, without sinking money into it, then resell when you depart!

Since your fathers friend, who is an auto dealer, apparently decided that repairing the car before offering it to you would be a poor business decision, I'd take that as a hint from him. He should be your friend, but his interest is to make money on the deal!

Where will you be visiting during your stay?

:cool:

I would check the year on that car. The engine photo is a LT1 which wasn't available before 1992 and since it doesn't seem to have a MAF sensor, it should be a 1992 or 1993.

:cheers:

Why not buy it and ship it back to the UK after you are finished with your visit? A few years ago one of my friends in Belgium shipped a C3 to Amsterdam on a roll on/roll off ship for under $1,000.
I agree that it is not a 91 from looking at the engine bay. Looks to be a 93 or 94.
The car should be worth more in Europe as they are somewhat rare there.

I was wondering why nobody mentioned this!? Lt1 where an l98 would be in a 91.

Your ideal classic car shop isn't too far off base. It may or may not be a money pit. But that can be the case with any 25 year old car.

There is a market for them but at the right price. They are also not always quick sales.

Based on the issues you cited and the mileage, I wouldn't pay more than $3500 for that car. Which is probably about what your father's "friend" paid for it.

Here (utah) i would expect to see that car in the 5k range, 6k if the top works and you can't shove coins through the top when closed.

Also is anyone reading his posts and adding a slight English accent?
I was... :)

Looks like a lot of white around the lower lip of the convertible top in the back............where it meets the body Is that wax or was it repainted?

I have my doubts about being able to flip the car for a profit seeing as everyone tells me that C4 prices are at rock bottom at the moment.
Also I wonder how you would go driving in the US without insurance. In 2011 I bought a 68 Mustang Fastback from a guy in New Hampshire. I had this dream of driving my classic Mustang on Route 66 across America to LA to ship it home to Oz, but I needed to get the car insured before a I drove it. I contacted nearly 60 insurance companies, brokers and agents about insuring my car in America, but I was told exactly the same thing by every one of them. Without you having a permanent US address and a current US driving licence we cannot issue a policy, and that isn't addressing the problem of registering the car. And after being pulled over in Vegas for doing an illegal turn, I can assure you that you will be asked for a driving licence and proof of insurance.

My wife and I had no problem driving in OZ on a international drivers license. I only drove once, damn near getting in a head on. I didn't drive in Manchester England for that reason. OP, get an international driver license and insure it from your home base . Your not going to make any money flipping that car but if you break even, its a deal. BTW, route 66 starts in Chicago.

You will have quite a time getting maps of the remaining portions of the original Route 66 if that's your intentions. I've driven a lot of the route but my intentions are in a couple of years going back on as much of the original roadway as I can. There are some books with basic info on Ebay but I have not found what I would call good roadmaps that reference much of the original route, wish I could find some though (still have 2 years before going if all goes as planned).

Yes, I contacted my insurance company here in Oz to see if they had some sort of reciprical agreement with a US company without any luck.
I then asked how do backpackers go here when they buy an old van to tour the country, and was told that if they had a temporary address and an international drivers licence they would write them a policy. Unfortunately the US works differently to the rest of the world (one day they will discover metrics) and there was no way I could get insurance for my car, although they all wanted to insure it to go on a transporter and for the shipping to Australia.

When i went over to Europe, i learned that the usa and the eu have a trust relationship, my license and insurance is good over there, as is theirs here.
same deal with not needing a visa is visiting under x amount of time.

Some guys there from another company were visiting from india, they were not so lucky, and required a different drivers license.

I'm not sure how it works with UK, but i had assumed it was the same deal, maybe it has to do with the wrong side of the road thing?
​​​​​​​:trainwreck:

Old cars have hidden flaws, even for an expert. Some things only surface after you get accustomed to it. The C4 is a great car but its a maintenance money pit. If it was $4000 I'd say you can flip it but at $5600, with the known problems you would be lucky to get by with minimal work. If you are a gambler and its not essential that you sell it in the time you state, go for it but if it will break the bank to lose $$$, look elsewhere. Converts are worth more, but automatics a bit less. Interior work is pricey unless you luck out and can have it stiched up cheap. Same goes for the top. And yes, it looks like a repaint. For most of us on the forum owning a C4 is a life long passion. We debate whether its really worth it but at the end of the day we either spend the money or live with it. Good luck.