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Rebuilt 92 ZR-1-What is it worth?

Rob

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What's all that stuff in the air vents by the windshield wipers in the first engine shot!? I think I'm going to be sick....:puke
 

69MyWay

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It is funny you mention that. He brought out an air hose after I took the shots and blew that area clean.

The seats, rear bumper, tail lights, etc. etc. are inside the lobby area of his shop.

We are still thinking it over. The good thing I can say about this, is at least this car has a chance of living again. If it was not for the efforts thus far, it would have already been parted out into a million different pieces.
 

Rob

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69MyWay said:
The good thing I can say about this, is at least this car has a chance of living again. If it was not for the efforts thus far, it would have already been parted out into a million different pieces.

Ya know....that's actually a very good point that I hadn't considered....in a way, it's kind of like a rescue effort. It could have been brought out to pasture and shot down, but instead, it's been given a second chance.
 

Ken

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It's like the white one that was brought back from the brink, well maybe closer to the edge than the brink, but you know the one I'm talking about? The one that was shown in the crashed position, half in, half out, of the water? I think I saw it on VettesOnline or something, or the ZR-1 site, I forget. I posted a picture here sometime ago. ;)

_ken
 

Jeffvette

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That car was on Ebay, back in febuary maybe. He didn't get his reserve met, which I think was pretty high.

Go look on the ZR-1.net and get a car from one of the guys. It'll be taken care of, and most hav the minor mods alreayd done to them. This car will not be worht the headaches it will eventually cause.
 

69MyWay

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Thanks,

I met with him yesterday and made an offer on the car less than the $15K. He would not take it. He said that he will go ahead and put it back on e-bay this week and simply part the car out. He feels like he can sell the body seperate, dana 44, trans, engine, seats, wheels/tires, etc. etc. and come out far ahead.

I hear exactly what everybody has been suggesting here both plus and minus. Who knows, he might still take my offer, but if not I am no worse for the effort.

If I get one, or this one, I will let you guys know right away. I am sure I will have plenty of other questions about the car.

Chris
 

Jeffvette

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With what he is missing he will still come up short in making 15k parting it out. He'll get 8k for the engine 2 for the tranny, then the rest really is worthless. He might get lucky and somebody will want a rolling chassis and make a racer out of it

Really sad though.
 

Rob

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Chris,

I would stick with your offer. It sounds to me like the owner thinks he may have a goldmine sitting there and he has the sad misconception that he can part the car out and come out far ahead.

Once people start to find out that the car was rolled over, they are going to have serious concerns for the integrity of some of those parts.

I have seen some very good ZR-1s go over EBAY for only $5-6K more than what he wants for his and they are intact and were never in a rollover accident.

Let him put the car back up on EBAY. If it sells it sells and it wasn't meant to be for you to buy it. If it doesn't sell, and he wants to let the car go for what you offered, then you should go for it.
 

Ken

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Rob said:
...can part the car out and come out far ahead.

Someone did that with an '85 (not a ZR-1) at Carlisle this year according to Cars & Parts Corvette Magazine and sold most, if not all, of it from the looks of the picture in the article.

_ken
 

69MyWay

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I agree. This is one of those..........if it is meant to be, then....................
 

JT ZR-Won

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Chris, I don't see the car up on ebay yet. I don't think he's going to get what he's asking. I think if he doesn't sell it to you for under $15K, that car might see a couple of birthdays in his shop......

Jay
 
R

RobPiraTucson

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that guy is a dreamer. he probably paid less than $10K for that car salvage value. then dumped another $5K into it in parts. so he'll MAYBE get his parts value out of it. that engine isnt worth more than 4 or 5K on the outside. the trans+rear is maybe worth half that. then the seats are about 300, dash maybe 500, tires and wheels maybe $1K and the rolling chassis about 2K. so i'd guess he'll get about $11K tops if he parts it out. he would be smart to take your offer, and just remember all that work you still have to do. dont short change the interior cost: leather seat covers and a new carpet set is around $2k and YOU still do the work. i'd offer him $13K tops, and remind him he'll be rid of it and wont have to hassle with parting it out. but if you want a really healthy z car without the hassles, look on the zr1 net, a real good '90 or '91 can be had for about 20K and have less miles than this junker, and loved by its owner, and that counts for a lot.
 

69MyWay

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Man, this thread is getting long....................

Okay, he called me yesterday and got a little more flexible on the price. We are now bouncing between 12.5 and 15K.

The decision is very difficult for me. I hear what you are all saying about the value of the cars and what else is out there. I have been surfing the ZR1net and others looking at prices. Here is what I have learned. To buy a 92 model for less than $20k, there will still be some trade offs. For example, most at that price and down need minor paint, interior, tires, transmission, etc. work to get them up to the $20 plus range.

There are some real strong values with the one I have been looking at here. For example.

1. The seats are new, just been installed in the frame, and never been sat in. ($1,200 value)
2. It has a new, never been installed clear roof, and a nearly perfect painted.
3. Tires are NEW, with no miles on them
4. New battery
5. The interior is all out of the car, and virtually nothing hidden..ie, I am able to see right now exactly what was repaired vs. it being assembled and making guesses.
6. I am looking for a daily driver-not a garage queen.
7. It comes with a truck load of spare parts
8. It comes with the paint.
9. The hard core parts are all there.
10. The 90 has a simular interior to compare notes when putting things back in place and would come in handy that way.

Bad points.

1. It has been seriously wrecked.
2. It is within a few thousand of a nice car ready to turn key drive.
3. There is always something to aggravate when somebody else took it apart, and now I am putting it back together.
4. It is the little things that add up..clips, brackets, mldings, etc.
5. I am not able to get it out and thrash it in its present condition, therefore don't know the status of the clutch, trans, etc.
6. I have plenty on my plate right now, and really don't need to open another chapter of 92MyWay.
7. The "unknown" factor of things that I am not even aware of at this moment.
8. The economy, ie, does it make sense to take on more financial headache in the midst of the thousand going into the 69?
9. The frame may still be tweaked enough to cause serious alignment problems of the roof and side glass (unable to determine right now)
10. Even with two, two car garages, I am running out of room to put car stuff, it will make my house look like a junkyard for a period of time.

Okay, there are some ups and downs. I am so on the fence since he called me yesterday and started dealing.

How to pay for it? That is the easy part. The credit union will give me 100% of the purchase price (6.75% interest) that makes it under $300 a month. If I buy the car, I can trade this old Bowtie engine I have to my paint and body fellow to go ahead and squirt it for me. Put the Geo up for sale ($2 to $3K) and then use that cash to finish the car up. So, in a month or two, I would virtually be nothing out of pocket, and will have picked up a small monthly loan. Plus, I just paid off a small monthly loan yesterday that I had been paying $270 a month.

So, the saga continues, at least to me it is just starting to get very interesting.

One last thing. I am going to call the Insurance Company that paid out the claim on the car today. I want to find out the status of the individual that was in the car when it flipped. Believe it or not, even at $5K, I really would not want the car if I found out the dude died behind the wheel.
 

Rob

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Chris,

I can't say either "stay away from it" or " go for it". I'm not in your position and it would be unfair of me to pass judgement on the car without seeing it in person. Pictures never do justice, nor tell the whole story.

All I'm going to tell you is, depending on how complete you want the interior (and in some instances, exterior) to be complete, keep in mind that parts for C4s, ESPECIALLY the ZR-1 are becoming more and more scarce.

Depending on what you consider complete and what you're getting for parts, you may find that you either have a fairly complete car when all is said and done, or there's a few key critical components that are missing. Just keep this in mind.
 

JT ZR-Won

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Chris, I can see while you're dangling on the fence. I know we talked about it for a while at Octobervettes. $12.5 sounds a whole lot better than $15. I would let the guy sit on your offer for a while. It might take a while, but once he realizes that the car hasn't moved in a while, and scrapping it would be to much work, I think that's when your phone might be ringing. Sooner or later he'll come to his senses. You know he doesn't want to lose your interest otherwise he'll be really screwed.
If you have any questions, or need to see if something on the car is in the right or wrong place, just let me know. I can snap a bunch of pics for you or you could just stop by........when this saga is over, we're going out for a beer :)

Jay
 

69MyWay

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Dead Issue

Well, it is an official dead issue.


Here is the scoop. I have the same insurance carrier as the fellow had when the car was wrecked in 98. I inquired with them about coverage. As soon as I gave the VIN, it popped up as having been totalled. Now, it does have a clear title, but they will not write comp and collision coverage on the vehicle ever again. They have no problem putting liability and medical on the car as that has nothing really to do with the physical condition of the car. They did say that I could argue this with the policy administrator by obtaining an appraisal and full docs showing the car is in tip top condition. Well, you have all seen the photos of it and it will obviously not be in that position for at least a couple of months, The credit union demands comp and collision coverage from the moment they open the loan. In my business, and knowing my luck, I am not willing to take a wild risk on something happening.

This information age we live in is amazing. In fact Carfax nailed it in seconds and even allowed me to obtain the claim number from the loss in 98.

That is a serious issue, as you need that not only for protection, but also to obtain a loan. I am not going to switch carriers, because they are the only one I trust other than the one I work for. As mentioned before, I don't have insurance with the company I work for to avoid a conflict of interest (that is a whole different story).

I did learn that the occupant did not suffer a fatal conclusion as a result of the roll over. At least that is good news. I just let Wade know a few moments ago. I wish I had checked on this from day one. I feel stupid getting this deep in the negotiations and having this pop up last minute.

Thanks for all the help here. You guys have been great.
 

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