looking for my first vette... need help

[mbalogh]

Hey guys -

I'm new to the forum and to Corvettes in general. I've liked them for a long time but could only recently afford to even think about owning one. I have an opportunity to purchase a '75 from a friend for $9k and I'm wondering if it's a decent deal or not. He's done quite a bit of work on it himself and has all receipts from the previous owner as well. From what I can tell it's a solid car. Basically I'm looking to be able to get my money back when I sell it in a few years to upgrade to something a little more unique with a little more horsepower, etc.

Here's the specs:
- 62k original miles
- 1975 350 ci L48 165 hp engine
- 4 speed manual
- Bright blue with black interior (originally a white interior... professionally redone in black)
- power windows, brakes, steering
- AM/FM stereo
- two sets of t-tops... dark glass and matching body color

Virtually everything in the car besides the interior color is original and all numbers match. Replacement parts are all OEM. The paint is in good condition, no cracking and only very minor blemishes. The car has always been garaged and never been driven in rain or snow barring accidental rain showers when out on a ride. No rust on the frame or undercarriage. All it really needs is rear tires (about 75% worn) and rear shocks and it's a great driver.

So what do you guys think? Personal opinions on body style, etc aside, is it worth the money as a good starter vette? And more importantly, why do you think it is or isn't a good car? What else should I be looking for?

I realize this is inviting lots of opinions and a very long thread, but I'm just learning about vettes and this is the best way for me to figure this out. Thanks for helping out the new guy!

~Mike Balogh

 

[81 Corvette]

if i was going to buy a vette today, i'd buy the 81 on ebay for the buy it now price of 9K

do a search, its a 454.

 

[GTR1999]

75's are nice because you can build them much better then the way they came. 9K seems high for a 75 though,it would have to be an exceptional car IMO for that. An L-82 would get more of course.

The area's to check are the same for C2 and C3 cars:
Frame for rust
windshield frame for rust
number matching
options
mileage, if true
suspension
drivetrain
brakes
Interior
body/paint

What was done to it and what does it need? for 9k you may be into another 5-6K without a lot of work.If the cost goes beyond a realistic resale value then you lose or you're married to the car. Can you do the repairs or would you have to bring it to a shop?

I'm not trying to turn you off to this car but if you're new to vettes DO your Homework first. Is there a club near you where you could talk to members about used cars or repairs?
Good luck

 

[ScrantonScrambler]

A 1975 would make a great starter car & a 9k price isnt out of line for a really nice one.
If the rear tires are seriously worn different than the fronts the car may have suspension issues which can be costly.
At a minimum you should be checking for the presence of shims in the (rear)T arm pockets & equal amounts of shims in the upper control arms(front) and that the strut rods arent bent.
When you drive the car does it go straight down the road?
A lot of times sellers will put a new set of tires on a car right before the sale to hide suspension problems. At least your guy hasnt done that.
Check the frame, windshield frame & door areas for rust.
Just curious on how well you know the seller & if he takes such great care of the car why is he running junk tires?
Can you take pics of the car & post them?
What county is the car in? If it's in Sussex I will look at it with you.
Good luck in your search & dont make an impulse buy. There are plenty of cars to pick from.

 

[CQRT]

GO FOR IT !

Mike:
Sounds like youv'e done a fairly thorough assessment of the car and although it's not a steal, it sounds like it could well be worth it pending an independent mechanical review. Apart from bushings and brakes, you're looking in all the right areas to consider for a first Vette.
I didn't see that you mentioned AC-- a consideration in the humid NJ summer, but if you're not going to use it as a daily driver you can rely on Corvette's notorious 2-65 air ( 2 windows down, 65 mph).
These boards are an excellent source for info and opinion. The c-3's are great fun at a reasonable price and parts are plentiful. Learn as much as you need to know about the car and then pull the trigger-- Make him an offer-- it sounds like a great car!
CQRT in AZ

 

[Piet]

Welcome to the forum!
A great place for info!

Look at the buying guide here in the forums in the Learning Center

Good advise originally written by Evolution1980 in a previous post


1) Don't settle for the first one you see in your price range. There are tons of vettes out there for sale. Be patient (as hard as that is when knowing that you WILL have a vette soon). There is always going to be another one that you like a month or two down the road.

2) Get the year you want. If you don't care, then research various years, options, problems, etc., and narrow it down to at least a 3-4 yr span.

3) Buy the best one you can afford. Unless you've won the lottery, don't buy a junker then plan on fixing it up. One of two things will happen. You'll spend 5x more fixing it up than if you had just bought that nice a car in the first place. Or two, it'll start as a project car and likely stay that way for the next 10 years until the old lady complains enough about it being in the garage and to finish it or get rid of it

4) Check the frame for rust. If there's rust...pass. Unless the car is free.

5) Ask for receipts of everything that's been done. most people that fix up vette's for themselves keep all the receipts, just for this reason (should they want to sell the car and the next guy asks for them.)

6) Ask to take the car to a mechanic that you trust and preferably one that knows vettes. If the seller balks, you gotta wonder why he/she would object?

7) Don't let your enthusiasm cloud your better judgement

 

[resto75]

I would offer him $7500 and see if he will take that. The $9000 price is a little high unless it has a new or rebuilt motor. With only 62,000 miles it should have many more miles to go but somewhere down the road it will need a rebuild.
Make sure thats the correct mileage before you jump at it. Sounds like you checked it over pretty good.

Its better to buy one in good shape then one thats a junker and then try to fix everything.

 

[red70vette]

Your expectations of buying the car driving it and recovering your money in a few years is unrealistic. This car is almost 30 years old and if you drive it regularly you will be doing regular repairs to major components. Unless you do it yourself this can be very expensive. The more you drive it the higher the milage the less it is worth. The car is far from unique and there are plenty of them around so its value as a collectible piece is very limited. Low horsepower and low optioned cars are less desireable.

The price on the car is reasonable buy it, drive it, and enjoy it. It will deperciate far less than a new car or a late model used car will over the same period of time and will give you a great deal of enjoyment. It will also give you a great deal of headaches when it breaks down and it takes 2 weeks to get it on the road again. Remember it is 30 years old and it was designed to last 5-7 years.

Too many people expect too much from these cars. Be realiastic and if it appreciates in value that is a bonus.

 

[The73vetteman]

In my limited experience $9k sounds fair for the the car you describe, although no bargain. As red70 says, don't buy it as an investment. Over time you probably will see the car's value rise, but by less than than the money you'll have to put in to it. I think you buy C3s for fun not profit.

If you want to make money you'll have to look at the earlier and more unusual cars. I think anything with chrome bumpers and a big block is going to be more desireable.

One last point - regarding the mileage: I'm very sceptical as just just how much importance should be placed on low miles. Low miles often equates to short journeys and that can create problems. Don't forget too that a lot of wear and tear is not miles-related: plastics age, metal rusts, and so on.

Let us know what you decide to do about the car!

'73

 

[Evolution1980]

Welcome to the forum!
A great place for info!

..Quoting Evolution1980 from a previous post...

Look at the buying guide here in the forums in the Learning Center

Yeah...what he said I said...
Items 1,2,3 seem to be the most important at this point based on what you've said thus far.

 

[mbalogh]

Thanks to all of you for all the great advice!! I know the seller very well so I trust what he tells me about the car. Anything that he didn't fix or replace (like the tires) was for financial reasons... the same reasons he needs to sell. It's a work in progress that's only partly done.

Based on what you've all told me I think I'm probably going to pass on this one and look for something with a little more horsepower. If it were a great deal or a perfect car then I'd consider it further. But with the $9k price tag and some minor work I'll be over $10k or $11k. And I think I'd rather spend that money at the outset and get more of the car I'm looking for.

I'll defintely be hanging around and checking in as I go through the buying process. Until then, thanks for all your help!!

~Mike