rookie buyer needs help

[Dave Mack]

I've decided to buy a C1, preferably a 1962. I've just started to do my research to become a knowledgeable buyer, but a somewhat local 1962 has become available. I'm going to look at it on Saturday and would appreciate responses to the following, and any other comments:
- It's a 1962 with a 327 / 340hp. It was bought 7 yrs. ago as a numbers matching car. The gentleman representing the owner furnished the following numbers: VIN 20867S103940, block casting 3782870, engine #2103940F1203RE, intake #3795397, front# 18436572, transmission #3885010, rear axle housing (front) AM403 (rear) 02223789812
Any thing make sense? Anything disqualify it from being a #'s matching car? What #'s and where should I look for on Saturday?

- It's a convertible only. Assuming it didn't come from the factory with a hard top, can one be added now? Approx. cost to do so?

-Can someone hit the high points of what I should be on the lookout for when I inspect & drive it on Saturday (I realise this is a rather pregnant question)?

- If it passes the sniff test Saturday, I need to find an expert in the Charlotte / Greensboro / Raleigh Durham / Fayetteville N.C. area to inspect it. Any recommendations?

- It's had a body on "restoration" at some point prior to 7 yrs. ago, and has 45,000 on the odometer (tmu). It appears to be a driver in average to better than average condition. What's a ballpark value if it's numbers matching, or not?
Sorry for all the rookie questions and grateful for any help I get.
Regards,
Dave Mack

 

[IH2LOSE]

Welcome to the forum

I am in the market for a 61/62 myself.

What's the price range your in that would sway what I was going to suggest to you

Also what you exspect out of the car

Investment car

Project car

Driver car (no offence meant magicV8)

Somthing to tinker with

A NCRS show car

Good luck And I love the way this style car looks

 

[youwish2bme]

Dave,
Welcome to the forum. I just went thru this so I may be able to help or know someone that is more knowledgable to help you out. I sent you an email also. Best of luck.. Dave...

 

[WayneC]

"VIN 20867S103940, block casting 3782870, engine #2103940F1203RE, intake #3795397, front# 18436572, transmission #3885010, rear axle housing (front) AM403 (rear) 02223789812"

340hp w/manual tranny, engine matches serial, block number is correct, intake number correct, engine assembled Dec 3, car built about Dec 12. Look for an engine casting date (upper rear of engine, on passenger side opposite casting part number) that starts with H, I, J, K, or L and ends with a "1" to further verify correct engine.

340hp car would have distributor 1110985, but that's stamped on a strip metal collar around the shaft casting that's easy to replicate.

Original 4-spd would have serial "2103940" stamped on it, (upper right corner on rear flange that mates with tail extension) along with a date code tht starts with a "W". 3885010 casting sounds high (later production) but I'm not very knowledgeable on the casting numbers for transmissions or differentials.

Hardtops run about $2k to $3k for tops with decent glass, stainless, and weatherstrip, plus the price of any needed paint/roof liner color change; the 61-62 tops are unique from 56-60 tops.

Generally '62 340hp prices would be in the $25k to $40k range (more often $30 to $40k) depending greatly on condition and originality (and could be higher for truly exceptional cars)... sorry, hard to put a price on one without close inspection.

Spend as much time looking UNDER the car as you spend looking at the topside. Frame rust-out and frame or fiberglass panel damage is expensive to repair. Repaints are also very expensive ($6k plus any serious 'glass repairs).

Just be careful, it's easy to get carried away and put on the rose-colored glasses when you're hot to get a Vette! Take someone along who can provide a dispassionate opinion. Best to take a close look at a couple dozen before making a purchase, to get to know the market, but I understand the urge and the concern about possibly passing up a gem.

 

[Dave Mack]

WayneC,
Thank you very much for your informative reply. I've asked the seller to have a lift available to examine the frame, etc. If this in fact a #'s matching car, do you care to estimate how much this adds to the value? I don't care if it is or isn't, I just want the price to reflect whatever it is.
I want a good solid driver that I can cosmetically restore while still enjoying driving it. Maybe this one is, maybe it isn't.
Thanks again for all the great info you've given me.
Regards,
Dave Mack

 

[WayneC]

WayneC,
If this in fact a #'s matching car, do you care to estimate how much this adds to the value? I don't care if it is or isn't, I just want the price to reflect whatever it is.
Dave Mack

In my estimate, I assumed it IS a matching numbers car, at least the major components. Again, condition and originality are what drive the price to the high end.

 

[IH2LOSE]

Generally '62 340hp prices would be in the $25k to $40k range (more often $30 to $40k) depending greatly on condition and originality (and could be higher for truly exceptional cars)... sorry, hard to put a price on one without close inspection.

I agree with his pricing.

But A quick note.Purchase the MOST car you can afford,It,s cheaper to purchase a car done then it is to build one.Even with suppling free labor to repair it.

Excellent idea to have a lift available.and also good advice to spend time under the car.I have looked at alot of cars that look mint on the top side and a disaster on the bottome side.I call them old ladies in new dress's

Good Luck

 

[Dave Mack]

final result

The seller advised me the car sold today to the first looker (a dealer) for the asking price ($38,000). All they did was verify that is was a matching numbers car and wrote a check.
Just as well as this came along sooner than I was ready for, and it's part of my education.
Thanks to those who helped me out.
Here's a new question: do the 327 fuel injected motors make good drivers, or are they too temperamental? I'm talking about year round use of about 5,000 miles annually.
Thanks,
Dave Mack

 

[IH2LOSE]

Dave I cant answer about the driveability of a fuelie

But I can tell you when I was shopping for my 66 I always brought money with me incase it was the perfect car.

I am going on next tuesday to look at a car and I will bring my trailer and the money incase its my perfect car.

Keep looking for information and the right ones out there,

the problem for me is I have been on this quest probably 3 years now and have the money burning a hole in my pocket.

Good luck

 

[Viking427]

Fear not, there'll be plenty of more 62's out there fer sale. I don't suggest a Fuelie as yer first C1. Will undoubtably cost substantially more and they have a distinctive "learning curve" to get them tuned just right. Carb would be better choice first time out.

 

[JohnZ]

It had a '66-'67 Muncie trans (instead of the correct B-W T-10), and the diff was out of a passenger car; "matching numbers" mean different things to different people. :eyerole

 

[Dave Mack]

It had a '66-'67 Muncie trans (instead of the correct B-W T-10), and the diff was out of a passenger car; "matching numbers" mean different things to different people. :eyerole

Thanks for the info. This "Numbers Matching" subject seems to be tricky indeed. I don't care if the car I find is numbers matching or not, I just don't want to pay a premiun for a Numbers Matching car and find out later that it isn't. Sure do appreciate being able to tap into the expertise available from this group!
The hunt continues.
Thanks & regards,
Dave Mack

 

[Dave Mack]

FWIW, This car sold on Wednesday for $38,000. It's advertised on a local paper today for $45,000 non-negotiable by the dealer that bought it.
Regards,
Dave Mack

 

[srthom13]

JohnZ, Correct me if I am wrong but I believe for 62 the manual trans were Borg Warner --- T10. The Muncie -- M 20,21,22 started later on, 64,65 not sure. I believe the trans number Dave mentioned ,3885010, is a Muncie Number. Therefore, wrong trans for a 62 matching #'s vehicle. Steve

 

[richscorvettes]

Dave,

You have certainly received great advice and information from the other responses. You are also looking at the purchase in the right way in making sure you know what you are looking at and paying accordingly. The only other suggestion I would have is to get some of the research materials available to be well informed about the C1's. Reference materials (such as Noland Adams "Corvette Restoration & Technical Guide -Volume 1" and the NCRS judging manuals) are great to have. Joining NCRS is a good idea and you can obtain these books and others at a discount through them.

I'd also echo IH2LOSE comments on buying the best car you can find (unless you are looking for a restoration project) as it can be much less costly (dollars as well as headaches) in the long run. Also, getting the receipts from any work done by previous owners is a good idea. Many sellers will tell you the car has had a "complete" restoration but, like the term "matching numbers", there can be a huge difference of opinion on what that means.

Best of luck with the search.

Rich Lagasse

 

[Dave Mack]

Rich,
Thanks for your reply, and I really enjoyed your website. Your 62 conversion is my idea of the ultimate corvette. I've thought about doing the same thing and always have an eye peeled for a suitable donor car but they're even harder to find. Shoot me an e-mail is ya wanna sell yours
I am an NCRS member and have the books you've suggested on order, along with a couple others. I think your comment about "matching numbers" & "complete restoration" are right on. I figure if I kiss enough frogs one will turn out to be a winner.
Thanks for taking time to reply.
Regards,
Dave Mack