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Opinions on price.

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lheindrich

Guest
I just purchased my first Corvette after what seemed like an eternity. I am curious if I overpaid for my car, I really looked for a long time and I tried to take precautions so I would'nt get raked over the coals. I did however make what I feel has been a big mistake. Yes I bought the car off of eBay and the seller conveniently left out alot of small problems with the car. So here is the description of my car it is a 1975 L48 coupe with an automatic transmission that I paid $11,000 for. I will start with the good aspects of the vehicle, it has numbers matching engine, and tranny with the original Rochester carb. The paint is only 2 years old the engine was recently rebuilt along with the tranny, and carb. New correct style rims, and tires new rear sway bar, the brakes were redone recently with a new booster master cylinder, and brake lines, new alternator, new interior carpet, new chambered exhaust system. So all the main components on the vehicle perform well so far. Now for the bad stuff. The car was delivered with a leaky tranny pan because two of the threads for the tranny pan were stripped, there was a 1 1/2 stress crack in the fender, the reverse lights do not work, the left front headlamp comes up very slowly, the horn does not work, the power antenna does not work, one headlight is out, tachometer does not work or not connected, interior clock does not work. The interior was died black from the original red and it was not done with care, there are two cracks in the dashpad, windows are difficult to roll up and down, some of the trim pieces are missing from the interior. I guess I am just pissed that the seller did not disclose all the small stuff. The car just needs some TLC and I am enjoying the process so far. I really want to get my car back to where it should be and I will in time. So in the end I am happy with the car and I enjoy driving it and learning about the vehicle. I just want to know if I paid a fair price.
 

hotshotzny

Well-known member
Joined
Jun 17, 2007
Messages
627
Location
ulster county ny
Corvette
bright red 1984 crossfire
there is always going to be someone to tell you that you paid to much, i hear it all the time or hear the opposite, i call these people one uppers, if you got a deal, they got a better deal, if you paid a lot, they paid more (if its the cool thing to say) either way who cares, you got yourself a project car, you are happy with it and thats worth $11,000 right there. 95% of the people who look at my car think i got a great deal, but there is always some clown at my bar who has to pee on my parade and point out the little things just to make himself feel better..... thats when i remind them about what they drive or what they own compared to me:D
 

73shark

Well-known member
Joined
Jun 24, 2007
Messages
603
Location
KC, MO area
Corvette
1973 Orange Metallic L-82 Coupe
Hard to say about price but welcome to the Corvette hobby.

The stripped tranny threads can probably be repaired w/ helicoils. The other items are repairable, just time and money but that's what makes it fun. Besides there's a wealth of knowledge at this forum to help you if you need it.
 

minifridge1138

Well-known member
Joined
Feb 2, 2007
Messages
908
Location
USA
Corvette
1982 Black Fastback
Welcome to CAC,

Personally, I don't think you got a bargain, but I don't think you got screwed.
It could be a lot worse for a car that is 35 years old.

You like it and that is what matters.
If it makes you feel better, I paid more and had almost all of the problems you've described and more. I wouldn't trade my experiences (or the knowledge that has come with them) for anything.

I am sorry that the seller didn't provide a better description.

Search the site and you'll find a lot of members that have the same problems you've described: power antennae, headlights, tach, etc.

See if you can find a solution. If not, then make a new post.

Good luck and ask lots of questions!!!

When are you going to post some pictures?
 
L

lheindrich

Guest
Quite frankly I guess it really does'nt matter what I paid I am happy with the car and I do enjoy driving it as well as working on it. I will post some pics after I give it a good wash and wax one day, then I have to figure out how to post pics. I have been trouble shooting some of my problems with the help of CAC and I am on my way. Thanks for the insight.
 

6880 Mike

Well-known member
Joined
Jun 30, 2006
Messages
2,723
Location
The Bluegrass State
Corvette
1968 convertible; 1980 L-82
...I guess I am just pissed that the seller did not disclose all the small stuff...

Did you see and drive the car before you bought it?

Order the '75 assembly instruction manual (AIM) and a reproduction owner's manual. If you have an original owner's manual with the car, take it out and store it in a safe place. Keep the reprint in the car.

If you intend to do as much work as possible on the old girl, order the '75 GM Chassis and Service manual.

Contact the seller and see if he/she has any of the original paperwork for the car. You want all the original documentation you can get your hands on.

Open an account on one of the photo sharring web sites. I use Photobucket, but there are others. Upload copies of your Corvette photographs to the web site, then link them from the web site to your posts on the forum.

Keep your original Corvette photos/documentation on your home computer.

Remember: C3 drivers wave!!!!
:w
 

LT4man

Well-known member
Joined
Jun 25, 2003
Messages
2,214
Location
Chicago
Corvette
96 Collectors Edition LT4
I think you did just fine! BTW, welcome to the CAC!

All of the repairs are very doable. And you will learn a lot by repairing your Vette yourself.

The C3s are beautiful Vettes. You will turn heads every day you drive it! :upthumbs

WHILE REPAIRING YOUR C3, DO NOT FORGET TO SAVE THE :w!
 

White75

Well-known member
Joined
Sep 21, 2007
Messages
496
Location
Kingwood (Houston) TX
Corvette
'75 L48 Auto White, '78 L82 4-spd SA
First of all welcome from a fellow '75er.
Second of all, congrats on your purchase. As long as you are happy with what you spent you'll be OK. If it didn't have some things wrong with it, you would be spending a lot more on it. The things you listed as problematic are not uncommon and can be fixed relatively easy with some blood,sweat, tears.
Third, please post pictures. Very interested in seeing a ray in Charcoal

As it was mentioned before, the first things you need to get are the AIM (factory assembly manual) and the factory repair manual ( I got a hayes manual which is fine for me right now) Those are the best resources for any DIY work on the vette and can be bought from almost any good corvette parts vendor (Mid-America, Zip, Ecklers, Corvette America, etc) or eBay.
This forum is a great reource, up there with the factory docs. Most problems with the C3s have been discussed at length here and there is almost always someone that has had the same problem as you may have with your vette. Search the forums for past threads and post up if you either can't find the solution or just need a little extra help. Even better is to post up your solution once you fix it and share your knowledge with everyone.
When you work on your vette, it's a good idea to keep a camera nearby to take pictures of the problem and/or solution (pictures are worth a thousand words) Open a photobucket account to host them (it's free :) )

Good luck in getting everything fixed and enjoy your stay here!!!
 
Joined
Apr 8, 2005
Messages
274
Location
Charleston, SC
Corvette
1981 Dark Blue Metallic, 2003 AE coupe
Congratulations! I think you got a solid middle of the road deal. The price on cars this old goes up steeply if you're looking for everything to work correctly. I would start giving this car a good inspection to verify the things stated by the PO, and to see if there is anything you need to address immediately. The most important thing to get out of this experience is this:
You get what you INSPECT, not what you EXPECT. Good luck with the car and your tinkering. BTW, I will be up your way visiting next week (I grew up in Rockaway Township) and fully expect for you have all that stuff fixed before I get there. LOL
 

najar28

Active member
Joined
Dec 26, 2007
Messages
43
Location
california
Hey consider yourself lucky that the frame is in good shape. I bought a 72 project car a year and a half ago for what I thought was a good price of $8,500, but when the car was shipped to me from the east coast to me in California I found that the frame had extensive rust rot that was freshly painted to hide the damage. I have a post here in CAC detailing my adventures with my basket case and I am happy to say that it will be a totally restored car sitting in my garage in about another day or two, but the cost of project has almost put me in the poor house.
Good Luck.
 

jeffn

Well-known member
Joined
Jun 7, 2009
Messages
89
Location
East Aurora, N.Y.
Corvette
79' Black Coupe
Welcome to Corvettedom......If it was perfect, it wouldnt be a Vette...Think of it as a Gorgeous babe....High maintenance but worth every penny.There is no perfect woman but the beauties sure do turn heads.....Just remember when you were a kid building models in your room...Well, you've just bought the eternal model.No matter how perfect you get it, you'll never be satisfied....Have fun.It'll be worth it.
 
T

The Corvette Guy

Guest
You probably did ok on price. Might not have been a bargain, but just like one of the other poster's comments - if the car was in better shape you would have paid more for it.

Mainly, its a good thing the paint is in good shape and mechanically it is in sound condition. The other stuff are weekend projects and you'll probably enjoy the time you spend with your new toy. :w
 
6

65-to-00

Guest
Check out the NADA price guide for classic or collector cars. You will probably feel a bit better.

A basic coupe lists a "low retail" at $11,400 (for New Jersey) .... average is $16,000 and $24,000 for a mint condition.

With some of the problems you listed you may be able to bring the project up to speed (average condition .... average price of $16K) .. for that $5,000 over time.

One "red light" that would be going off in my ... hate to use the term ... "mind or what's left of it" .... would be that rebuild on the engine! If the guy left out all of those little details .... I'd get the car to someone who knows how to tell if the motor was rebuilt .... like a basic compression test to start ???? That would dictate my "order of battle" in getting it up to speed or where to put the money first.

And yeah .. I know you can't always go by the Kelley or NADA values ...

If the wife moans .... at least she knows where you are in the evenings. Out in the garage puttering with the car. Remind her that you could be down in some Jersey dive tossing back some cheap swill or at the "Nudie Bar" with Al Bundy! That's the line that always worked for me anyhoo! ;)
 

6880 Mike

Well-known member
Joined
Jun 30, 2006
Messages
2,723
Location
The Bluegrass State
Corvette
1968 convertible; 1980 L-82
...Check out the NADA price guide for classic or collector cars...A basic coupe lists a "low retail" at $11,400 (for New Jersey) .... average is $16,000 and $24,000 for a mint condition...

A good reason why bluebooks and price guides should never be taken too seriously. $16K to $24K for a '75 coupe is extremely optimistic.

:)
 

Vette79

Well-known member
Joined
Jan 23, 2007
Messages
1,392
Location
Millersville, MD
Corvette
1979 L-48 Black Coupe
A good reason why bluebooks and price guides should never be taken too seriously. $16K to $24K for a '75 coupe is extremely optimistic.

:)
Yep, NADA is no standard to go by although it sounds good...:thumb
 

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