Need an opinion

[Matthew M.]

I found by word of mouth a 67 roadster 2 tops small block NOM, 4 speed (not numbers) The owner works with my dad and has decided to sell. Dad went and looked at for as he is better with corvettes than I am. Car has been hit in the front both bumpers are tweeked, you can no longer turn the steering lock to lock. Looks like the frame is okay. Car has also been hit in the rear and repaired but not a real great job. My thoughts have started running to LS crate engines ect ect. What should a guy even offer on this car? My thoughts are maybe $15000 any help would be great the would make a nice fun driver.

[Robert R.]

Re: Need an opinion

Mathew,
There would need to be some more info as to condition of the body, interior, etc to say if that is a good offer.
If you want a car to have fun with, and you have some mechanical skills to get it to a condition where you would be able to drive anywhere, you can save money with the sweat equity you put in.
If you are paying someone else for the work, you could be in for more than your estimated budget allows. And you may be surprised as to what the costs are for parts alone just to make the car cosmetically and mechanically done.
Consider that paint alone will be $6 -10,000.

But then again, a '67 convertible is a really nice platform to work on.
Good luck and think the project through,
Bob

[William V.]

Re: Need an opinion

Matthew

I would start by having a knowledgeable person estimate the cost of body parts, repair and paint plus the mechanical parts & repair and add this to the purchase price. Then compare this figure with what the car may sell for. If you can do most of the labor the deal looks better. However, be careful because the more labor you pay for the higher the repair price will run. It's often better to purchase a finished car.

[Matthew M.]

Re: Need an opinion

Thanks Bob.
A little more info, the car is painted Red with saddle int. Looks like it was born white with saddle. The interior looks good for a driver not rips, tears, burns, the top is also in good shape. Car was born 327/350. My Father says it looked to him to still have right heads intake and carb, but he was not 100% sure without looking up numbers. I would just do the work on the car myself thats the part I enjoy, and my wife hates because I can never leave anything alone.

[Tom H.]

Re: Need an opinion

I will say, you won't find many 67's even at the project level for 15K.

[Chris E.]

Re: Need an opinion

In my mind, it all depends on what you want to do with the car.

If you want to buy it, fix it up and drive it for a long time, then the initial offer to purchase the car is less important.

If you want to buy it, fix it and sell it right away, you need to be aware of what it will cost to get it to a point where it is sellable. As mentioned earlier, paint is a big expense ($10K isn't an unrealistic number, including some body work), the motor is another ($5K isn't unrealistic) and the frame is the last ($5K isn't out of sight there either).

I'm restoring a 67 convertible right now, and with every part there is a choice about how much durability you want (total lifespan before a repair or replacement is needed) and how original looking you want. If you want a lot of both (highly reliable and original), the cost goes up, quickly. An example. A repaired set of original door sills could run you $80 for the repair. Buying a reproduction set (that aren't EXACTLY like the originals) are $50 for the pair. Buying a set of NOS door sills (if you can find them) is $300+.

There are 1,000 decisions like that in restoring a car. Having a strategy before you jump in is a life saver. Then you can go back and point to the strategy when you need to make a decision about a part.

[Matthew M.]

Re: Need an opinion

I have a rough idea as to what it will cost me to do the work. I am looking at making this a fun driver LS3 for power and a 5 speed, the rest with a stock look. I work at a Chevrolet dealership and can buy the crate and related acc at dealer cost. What I am worried about is low balling the owner and blowing it, I did this once before it and was more my lack of up to date knowledge on value that cost me. If I have more money in the car when finished than its worth so be it, doing the work seeing it come together and that amazing cant stop smiling first drive. That said I do appreciate any and all advice.

[Robert R.]

Re: Need an opinion

Matthew,
With what you said, and the comments you've already seen, if you are ready to make the offer, your next step is to talk with the owner.
Attitude is the key.
Whether buying or selling, "killing them with kindness" usually gets you what you want.
Good luck and when you do get it, make sure to take lots of pix so others on this board can help with your future questions on your project.
Bob

[Paul J.]

Re: Need an opinion

Mathew:

My first thought was to agree with Tom that $15k is low, but I checked UsedCorvettesForSale.com and found a similar 67 (fewer parts but better condition) for $16,900. If the seller is motivated, maybe $15 is not such an unrealistic price. If you make the changes that you suggest, don't forget that your used original parts have good value and can help subsidize your project.

Paul

[Ted S.]

Re: Need an opinion

Hi Mat My advise is to find a nice driver instead. It seems to me that the fact its a 67 is not a major concern for you. You can find a decent 63 to 67 in the 20 to 30 range that you can enjoy and work on while driving it. If you can get the car between 10 and 15 you are better off putting it on ebay and make yourself some money you can then use to purchase a solid driver. Unless you have experience in all phases of restoration and are willing to invest countless hours working on it as well as a substantial amount of money you are better off with a road ready driver. There are plenty of people in need of money in this economy. As an example my accountant just gave me his 89 white on red conv to sell. He spent over 10000 recently and the vette can be driven today with the need of seat covers, a new top, fresh rugs and misc int parts if one would want to make it nice. A 15000 vet easily becomes a 30000 vette and unless it has documentation will be worth no more than that. I considered the 89 for my wife then took it for a brief ride which reminded me of just how bad these vettes really are. Good luck and I will be happy to give you advice anytime Ted