Friday, June 3, 2011

What not to buy.....And Why!

I see people all the time that spend a lot of money buying and or/ building a car, and then their disappointed that A)  No one else thinks its cool.  Or B) They can't sell it for anywhere near what they spent on it.  Here's some good advice for people who are new to the musclecar hobby and how to avoid this problem.  # 1 I don't care that "Sport Sedans" are all the rage now. That's a 90's baby-boomer / Yuppie thing. Yes the Subaru WRX, BMW M3, and Cadillac CTS-V are all badass 4-doors, for people who like to go fast, and have kids and grandkids.  However, if you want a 1950's, 60s, or 70's car, the 2- door is king.  No one wanted a 4- door 57 Chevy in 1957, and they aren't worth anything now, except as a parts car for someone restoring a 2 door!  Ditto for 60's and 70s models. No one wants a 4-door 1966 Pontiac Tempest or a 4-door 1970 Malibu, or 1968 Coronet. They are good parts cars if you need front end sheetmetal, or a trunk lid, or interior or suspension parts. Otherwise your a nerd if you drive one.  #2 Pertaining to GM products Chevys always bring top dollar, with Pontiacs a close second.  That's a fact of life, so get over it. Watch the Barrett-Jackson Auctions on the speed channel or buy Hemmings motor news.  What this means is, the 1965 Buick Skylark with the 300 inch Buick V8 that was half the price of the 1965 Malibu SS with a 327, or the 1964 Olds Cutlass that was 1/3 the price of a 1964 GTO is not that great a deal. For three reasons- # 1 Chevrolet and Pontiac restoration parts are big business, and easy to find, and much cheaper than anything else. If Something is made for an Olds or a Buick, it' only available because it also fits a Chevy or Pontiac. Finding replacement Buick-only or Olds only parts is tough and expensive. # 2 There are a ton of aftermarket parts out there for Chevys and Pontiacs-aluminum heads, intakes, stroker cranks, whatever you want. Stock or hog-wild, Price out an engine rebuild for a 350 Chevy and a 350 Buick, or a 400 Olds engine and a 400 Pontiac. It'll make you sick, if your a Buick or Olds owner. # 3 Resale Value. People will give blood and a first-born child for a nice big-block SS Chevelle or GTO.  These same people won't even look at an Olds 442 or GS 400 Buick Skylark. If you want to buy an Olds or a Buick, the prices are lower, but the preceding reasons are why.  # 3 Base models are cheap for a reason.  If you find a good buy on a 350 LeMans or Firebird, great. Enjoy it, and restore or modify it to your heart's content.  Just don't expect GTO or Trans-Am money when you try to sell it.  # 4. An ultra-rare car missing a critical component is not a deal at any price. The obvious example is any Hemi-powered Chrysler vehicle without the Hemi engine.  Others would be a Boss 302 or Boss 429 Mustang without the "Boss" engines, Fuel-injected Corvettes without the Fuelie motor would be others. The reason is the cost of trying to chase down an original replacement engine and related parts, would be so prohibitive, that even if you had Donald Trump's bank account,  you'd be better off just buying an original or already restored car.  # 5 "Basket Cases" are not a deal, even if your a bodyman or mechanic by trade.  Here's why- You buy some engineless, transmissionless, gas tankless, interiorless hulk because it's a rust-free 69 Camaro body and you got it for $1000 bucks! Wow!  At the same time a guy is selling a rough but running 69 Camaro for $5000, that your buddy bought. Guess what? Your pal got the better deal.  Because by the time you find an engine-and where are you going to find the alternator, the starter, water pump, fuel pump, all the tin, and all the brackets, the radiator the hoses, the fuel lines, all the intieor parts, transmission, clutch linkage, the light bulbs, taillight mounting brackets, door handles, window cranks, wiper motor, wiper arms and blades, dash and guages, all the wiring and sending units, etc, etc,.it's going to cost you more than 5K to get the car in driveable and registerable condition, never mind magazine-cover or show worthy.  So even though your pal spent five times as much as you for raw material, he saved himself ten times the work, and expense. If a car has major body damage, or rust issues, or water or fire damage, or is missing the engine and trans, 99% of the time your better off in the long run by spending more money and just getting a better car to start with.  Mastermind          

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