Whats this Vette worth???

[Rick Daniel]

Here is a nice pix from Heidi.

 

[Stallion]

Rick, from the pics that Heidi sent me I would say (by looking at the interior and under-the-hood) that his asking price is definitely reasonable. Especially with the block he has under the hood (the L82). I was just looking at a '78 S/A with an L48 (pretty much in the same condition) and he was asking $13k for it.

So, that's a reasonable price. But I think it is too much for me for my first Vette.

Thanks again, Heidi and Rick!

TR

 

[MoeJr]

Stallion I think I would try an pursue this car. You are coming to a time when you are going to need credit. A little help from your Dad and some creative financing and it may serve the dual purpose of First Vette and Credit Establisher. I think you should talk to Rick about it.

 

[BigBrakeFuelie]

I agree.You`ll need to establish your credit anyway as you get older.This could be a chance to have a great Corvette and also help you for the future.
My Dad always told me about credit,credit,credit.I should have listened to him sooner.

 

[Stallion]

How does this affect the credit? Can somebody briefly explain this concept to me? Don't get me wrong, this is any absolutely beautiful Vette, but just a little too much money for me and more than I was looking to spend. And I really wanted a manual transmission, too.

I'll talk to my father and see what he thinks about it. Maybe he'll have a different opinion. He also might convince me, I don't know.

Thanks!

TR

 

[Trixie]

It doesn't really "affect" credit, but it establishes credit. For instance, if you go to your bank and borrow $12,000, and depending on your interest rate, and how many years you finance it, you make your monthlys to the bank. When the bank and other creditors see that you can responsibly pay your bills on time, that is how you establish credit. So later on in life when you want to go out and get a C5 or a C6, they will review your credit report and say hey, this guy was never late on his payments, so let's give him a loan for that C6. Having a loan with a bank will also help you when you want to finance a home, or get a major credit card. See, the bank has an interest in loaning you money. Number 1, if you don't pay, they are going to have a nice C3 to sell and re-coup their loss. Number 2, they are making a little money off of you because of interest. If your father has good credit, he can co-sign for you which would get you a lower interest rate, which means lower payments! You must understand though, if you have a co-signer and you flake on payments, they will hit up your dad for payment.

The only way your credit can be "affected", is if you don't pay your bills. Bad marks, at least in CA, stay on your credit report for years, and you can be taken to court and have a judgment entered against you for an unpaid debt, or even have your wages garnished.

It might be worth looking into, at least to see what your monthlys would be. You may be pleasantly surprised, especially if you have down payment to put toward the vehicle. That will make your payments lower too.

I don't know your age or what you do for a living, but taking on a small car payment can be good for you in the long run, as long as you are responsible in paying. If you have a checking account with the bank that does the financing, you can set up direct payment. That means the bank would automatically withdraw the money from your account. This is handy because there will never be a late payment, unless of course there are no funds to take.

I financed my C3 for 3 years, and my payments are a hair above $200/mo. Quite manageable for me. Check it out TR, it certainly wouldn't hurt. You never know, you may have that beautiful C3 in your driveway next week! Remember though, to not over extend yourself financially. Your dad will help you in making that judgment call.

BTW, I don't blame you on the manual transmission. I had to learn to drive a stick when I got my car. I just was not going to own an automatic vette. It is a beautiful car though, so weigh your options, and I wish you the best of luck in your decision making.

 

[Alwyn678]

Sounds high to me...I know where there is a pace car with 5k original miles all decals and everything not installed...they were asking 15k Sounds like that car could be had for a bit less

 

[69autoXr]

, but just a little too much money for me and more than I was looking to spend. And I really wanted a manual transmission, too.

TR

Hi, I'm a new member and have only posted elsewhere once, but if I may make a suggestion, I would recommend that if you are looking to buy a C3, it would probably benefit you to spend a little more on a car rather than try to find a "bargain" Corvette. I speak from personal experience: when my Dad and I found my '69, it seemed like a deal at $8k. However, we did not examine the car close enough, and it came to be that the car needed extensive suspension and brake work just to make the car safe to drive, not to mention the fact that the windshield frame was rotted beyond hope and cost over $2k to have replaced. And of course, engine, bodywork, paint, etc., etc., etc. ... it goes on and on. I probably have now more than $15k-$17 into a car that is nowhere near worth it, and, it still needs paint! Take my advice, spend a little more now, and it will save you in the long run. But don't be too impatient to buy a Corvette, it sounds as though you are fairly young, you have lots of time to find the right car. Don't settle for something that isn't exactly what you want, if you want a four-speed, there is one out there for you.

my .02
chris

 

[Stallion]

I see what you mean, Trixie. I never even though of a loan from a bank. I'm 16 and I'm in school right now, so I don't have a steady income. But, I'm an accomplished pianist (playing 10 years) and I'm thinking about taking on some young children (below age 8, newly starting) to get them started in piano and give them lessons. The parents think it's a good idea and it is income. And I caddy in the summer at a country club (free golf on mondays. ). Would it be a good idea to do a loan? I'll talk to dad about it.

I see what you mean, Chris. I'm in no rush to get a Vette. Of course, I would love to wake up with one in my driveway, but I'm willing to have patience and find the one that is for me, like you say.

I also see what you mean about "spending the money now". I wouldn't mind putting a lot of money in the Vette with time. In fact, I'm looking forward to working on it as a hobby and something to do a enjoy. You know?

Thanks!

TR

 

[billybob]

OK Time to scare Stallion off

lets not forget about the insurance thing.. 16 year old with a sports car, classic to boot.. thats gotta hurt the pocket more then the cost fo the car.

I would agree with the others tho, wait and get what you want, your young and things only get better with age.. well except for fresh produce.. and raw meat... and rice mobiles :L

Bill

 

[Stallion]

I see what you mean. And I do plan on being very patient with looking for the Vette. I'm looking around, and when I find one I'll look further into it and travel to see it. That's pretty much my plan. Kinda winging it.

TR

 

[MoeJr]

One way to save on insurance is to get a collectors car policy for it. I pay 249 a year for my 84. Just have the car registered to your Dad and then he can insure it with you has a secondary driver till ya 25 and can afford the insurance on your own.

 

[Stallion]

One way to save on insurance is to get a collectors car policy for it. I pay 249 a year for my 84. Just have the car registered to your Dad and then he can insure it with you has a secondary driver till ya 25 and can afford the insurance on your own.

Yes, that's exactly what we're planning on doing. It seems to be the best way. I'm a responsable person, too. So, this shouldn't be a problem with his credit.

TR

 

[BigBrakeFuelie]

I saw a 1978 Silver Anniversery Corvette for sale at my local tire shop.The owner was inside working and I guess he puts it out there on weekends.Ofcourse I had to stop and have a look.It had 89,000 miles.Original paint,not bad overall.The interior was pretty worn out.I didn`t see any leaks sitting there cold.The owner wants 8,300 for it.

 

[Shark Chief]

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