John, I'm going to run my next prospective project by you before I pull the trigger. Maybe you'll be able to talk some sense into me!
Originally Posted by Garfields Maro
I'd say it's worth at least half the asking price! lol....Really depends on the rust and your ability to deal with it. It has some nice options and would be a sharp car restored back to original. Add 20% ($) for RS and $50 for the console mounted clock...
I use a simple formula to determine what the value would be to ME
I look at the present market of similar cars sold. Ebay private party completed auctions is a good indicator. And asking prices for similar cars on the market at this time offered by private party owners.(if you buy from a Dealer your gonna pay too much)
From there I get and good idea of what a completed car would sell for and conversely how much I would have to pay for a completed car.
So a completed car will cost $XXXXX
Then I estimate how much it will cost to restore the car in question $YYYYY
Subtract $YYYYY from $XXXXX and that's the most the project car is worth. Then factor in a year or two of your life.
Often this exercise puts you upside down if you got the car for free.
This car I figure will cost $35k - $40k doing a lot of the work yourself not counting your time plus the cost of the car to make it worth $40k - $45k if you're lucky.
Heck Do the math
Body and Paint
Rebuild the Drivetrain
Radiator and Cooling System
Door and window handles
All this stuff adds up fast
If you're a glutton for punishment then offer $3500 and enjoy the journey