Need your opinion on a 78 pace car

[pasvorto1]

I know a guy who is the 2nd owner of a 78 Pace car (I will verify the VIN #s later). It has 60,000 miles on it. It appears to be in pretty nice shape, with the exception of a "not leaking" crack in one of the t-tops. With 2 kids, he is not driving it. He wants $12,000 (what he paid for it a few years ago). I have been around E-Bay, etc and it seems that these are going for around $15,000 - $20,000+. Is he just giving me a great deal? I trust him to not being trying to cheat me.

 

[Guy]

Welcome to the !

I looked at a lot of 78 Pace Cars about a year ago and $12k would have been a good price even then (I bought a silver-green 82 instead) with either engine provided it's in good shape and everything works. It would be nice to know if the car has the L48 or 82 engine. I assume it's an automatic - if it's a 4-speed, grab it! Here is one of the best places on the internet to compare prices:
http://www.collectorcartraderonline.com/adsearch.html
Good luck and let us know how you make out.


Guy

 

[pasvorto1]

It's an automatic

 

[pasvorto1]

It also has a 4 barrel carb. Does that mean anything? Did all the 350s have that?

 

[Guy]

It's an automatic

Yes and here is some additional info: http://www.corvetteactioncenter.com/specs/1978/78prod.html


Guy

 

[pasvorto1]

Am I wrong in my research? Somewhere I found that the "true" Pace car had a VIN between 1Z87L8S90001 - 1Z87L8S86502. The "L" denotes an L48 185hp engine. Evidently there were, according to this place, lots of fakes.

 

[ImpalaPete]

Correct on both counts. The 78 pace cars have special VIN numbers. Lots of fakes were made over the years. The VIN is an easy way to tell. Then again, make sure your buddy does not have a Silver Anniversary edition instead of the pace car. The Silver Anniversary cars are also valuable but do not have a special VIN, so beware. Probably the only way I would buy the anniversary car would be if the owner had the original window sticker and/or broadcast sheet to prove it.

 

[jonstr]

Am I wrong in my research? Somewhere I found that the "true" Pace car had a VIN between 1Z87L8S90001 - 1Z87L8S86502. The "L" denotes an L48 185hp engine. Evidently there were, according to this place, lots of fakes.

The 'L' does designate the L48 motor, but the L82 was also available in the Pace Car. If equipped with an L82, the 'L' would be replaced with a '4'.

 

[captras]

Just a quick way to know if it is a genuine Pace Car. The 6th from the last number in the vin should be a 9 if it is an original pace car. Good Luck

 

[pasvorto1]

I went and looked at the car tonight, a little more closely. Firstly, it is not a pace car. However it is black top/silver bottom/red stripe in between. I was confused. It has leather seats (oyster). It has the L48 engine. It has air conditioning, but it does not blow cold (recharge?). The interior shows the 65,000 miles. Clock doesn't work. Radio has a digital clock and cassette player, so I know it is not original. Both T-Tops are silvered but cracked. Owner says they don't leak, but for looks they should be replaced. The first owner bumped the nose, so there is spider webbing there. The panels under the doors are kind of rough and would need to be replaced.The engine compartment looks like a car with 65K miles. I took it for a drive. It was "loose" and wanted to go all over the lane. When I let go of the wheel, it pulled the right strongly.

Is it worth $12,000? Or should I run, not walk, away from it?

 

[brusso]

I went and looked at the car tonight, a little more closely. Firstly, it is not a pace car. However it is black top/silver bottom/red stripe in between. I was confused. It has leather seats (oyster). It has the L48 engine. It has air conditioning, but it does not blow cold (recharge?). The interior shows the 65,000 miles. Clock doesn't work. Radio has a digital clock and cassette player, so I know it is not original. Both T-Tops are silvered but cracked. Owner says they don't leak, but for looks they should be replaced. The first owner bumped the nose, so there is spider webbing there. The panels under the doors are kind of rough and would need to be replaced.The engine compartment looks like a car with 65K miles. I took it for a drive. It was "loose" and wanted to go all over the lane. When I let go of the wheel, it pulled the right strongly.

Is it worth $12,000? Or should I run, not walk, away from it?

Well, it sounds like it's going to need some work. It all depends how handy you are, if the car is worth it or not. From how you describe the pulling to one side "strongly", it sounds like there may be some brake issues. Sticking caliper or some like that. Feeling loose, could be any number of things. Usually an idler arm or play somewhere in steering. If you're really interested, ask the owner if he'll let you take it some place, that knows Vettes, for an inspection.(at you expense of coarse) Some places may do the inspection for free hoping that you will let them repair anything found. If this is your first Vette, I would strongly recomend the inspection.

 

[yellow_2002_germany]

I think you could find a nicer '78 for $12,000 than what is being offered. Especially since it is not a Pace Car or Anniversary model. However, if you have your heart set on a Pace Car a nice one will set you back what your research indicated. They are appreciating in value.

The clock not working is pretty normal since it was an electric movement, not quartz movement. Check the roof panels by looking through them from the inside. On a '78 they should both be blue tinted. On later models, the glass panels were bronze tinted. As far as the AC not blowing cold, be prepared for quite a shock as to the price of R12 refrigerant. Some people who are not worried about originality convert the system over to R134a since it is the standard now.

 

[Guy]

In my experience buying and selling C3's the past few years, RUN!

Good luck on your search.

Guy

 

[Bob Chadwick]

I agree with Guy. While you can hope that the a/c just needs a recharge, there is a reason that it has no refrigerant in it. If you can't do the work yourself, that could cost you a fairly substantial sum of money.

The big factor in my opinion will be the paint. Paint isn't cheap. Good paint jobs are being quoted $4 - 6,000 all the time.

For $7 - 8,000 maybe. For $12,000, no way.

 

[pasvorto1]

I think you guys are right. As I was driving in to work this morning, I was think , maybe $8000, but certainbly not $12,000. For $8,000 I could get a nice for Miata, for $12,000 I could get a super one. My wife is looking for a good "summer" car (read: convertible), while I would like a little muscle thrown in.

Thanks for all the advice. I will let you know if I wind up buying it.

 

[pasvorto1]

Given the paint scheme (pace car scheme w/o decals) do you think it was repainted? Could it have come from the factory like that? Is this something a dealer might have done? I hate to see it go back into hibernation. I was thinking about offering him $10,000 for it. The NADA shows its value to be $9,370 at the low end and $20,840 at the top end. He is above the bottom, but certainly well below the top.

 

[Guy]

That is one reason why I would not deal with this car. That paint scheme was ONLY for Pace Cars, so yes, it's a repaint. To me, this is a $6 - 6.6k car, not one I'd like to be involved with. Again, there are too many others out there.
You can look at the trim tag and find out what color the car was by matching the codes here: http://www.corvetteactioncenter.com/specs/1978/78prod.html .




Guy

 

[Guy]

BTW - The decals were not put on Pace Cars at the factory. They were in a box and the dealers either put them on or left them in the box for the customer.
Too bad you are so far away, there will be over 600 Vettes for sale and another 300 up for auction at Carlisle, PA the last week of August. www.carsatcarlisle.com



Guy

 

[pasvorto1]

It's not that I am specifically looking for a 'Vette. I just happen to know the guy and he is trying to sell it to me. I am looking for a "summer car", but my options are open. With my MG Midget and Harley both being sold last month, there is a psychological hole in my garage.

 

[Tom65L76/96LT1]

I agree with the other replys,run very fast from this car,however if you really must have it 7K to 8K at the most,for 12K you can find some very nice 78-82 vettes.