Re: [DML] Diamond in the rough?

[Soma576@xxxx]

In a message dated 1/17/04 8:52:54 AM Central Standard Time, 
jjdyn0mite@xxxx writes:
7) Given the limited amount of information that I have at this point, 
what is a ROUGH estimate of the cars worth (let's assume it's an 81 
manual, black interior, 50k miles, and not currently in running 
condition) so I'll know how much to consider offering.
>>>>>>>
This is a very difficult question. The first thing i would ask is, why 
exactly is it sitting in the yard without even a cover over it? i would assume 
that the car broke down and they just parked it. what was the nature of the 
break down? did it overheat? if so, then you are potentially looking at many 
thousands of dollars just to get the car running. 

IF the car were in perfect shape, it would be worth maybe $15K-$23K, 
depending on its show worthiness. If the car has overheated and the interior is as 
bad you say, i would not offer more than $6K for a neglected wreck of a car. in 
any case, you should really find an experienced owner to take a look at it 
for you and let you know what is garbage that will need some serious $$$ to make 
right before you make an offer. people get into trouble making offers on 
cars that have not been inspected by a more knowledgable person.

how nice do you want it to be when you are done? I bought my car for $15K 
(all systems worked and was 90% cosmetically acceptable) and have since done 
almost everything to make it 100% reliable, show worthy, and to my comfort 
tastes. I want my car to be a damn-near perfect driver. when i am done in 2005 i 
will have spent about $35,000 total (incl. purchase price) but it will be one 
of the best out there. imagine how much money YOU will have to spend just to 
get it half decent! 

in order to fix this car, you will have to have fairly deep pockets (sounds 
like your job will supply that some day) and a passion for a piece of history 
that you can drive to work if you desire or show at a public event (and 
probably win a trophy). in all honesty, this car is probably not an economically 
good choice but must come the heart. if you don't have the passion to put more 
money into this car than you will ever get back, you should consider a 
$13K-$16K driver. there are plenty of decent cars in that price range that don't 
need much to get 'pretty good'. the best cars will almost always eat more money 
than they are worth. you really need the passion to make that sacrifice. 

but then again, if you are crazy enough and have more money than you know 
what to do with, you could take ANY hulking wreck and turn into a show winner!

Good luck,
Andy


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