I didn't know where to post this, so feel free to move it. I just need some opinions.

Here's what's going on. I currently drive a 1992 RS 3.1L automatic Purple Haze with t-tops. I installed a dynomax exhaust on it with chrome tips. It looks and sounds pretty decent.

I have an opportunity to trade that car and my laptop for a 1989 RS converted from a 305 to a 350 out of a corvette. It has a 700r4 trans and the engine appears to be carburated (has a breather on top, so I am assuming it is such). It has brand new tires, both the engine and the transmission were rebuilt before they were dropped in and a flowmaster exhaust system that's pretty loud.

I have two reasons for considering this trade. My primary reason is because I want more power, and my second reason is that my camaro has a small head gasket and rear main seal leak which make it contribute about a quart of oil a week to the local water shed. I know that these two problems aren't going to get any better without work, and my friend who has all of the tools and a lift seems to be unwilling to help me (he hates dropping transmissions).

My hesitations for this trade are several. Primarily, the exterior is definitely in worse condition than my own and the interior needs some work as well (there is no headliner, the power locks do not work, the defroster appears to be in a semi-functional state-- but the dash bad is in near mint shape except for the corner by the driver side door). Secondly, I do not want to buy something that is a rusted out piece of junk underneath. Thirdly, there appears to be some bubbling underneath the paint on the a pillar on the exterior. I touched it and it was hard as though it was metal (it definitely didn't feel like bondo).

I expressed my concerns to the seller and he said that he would work on the car and it would be ready to go this coming Wednesday when I return from Florida, at which time he said that he would put his friend's dealer plate on the car and I could drive it around for the entire day. He said that I should even take it to my friend's shop and have them look it over and put it in the air so that I could see underneath. I like this idea because I don't think that anything can beat an extended test drive and being able to talk about a possible purchase with your friend's father who has owned a camaro for every year of his life.

Now, here's my thought process. I am a student right now and CANNOT afford a rear main seal or head gasket job on my car. Not to mention anything else that might decide to go on it (the starter was acting up a bit this winter). On the same topic, bondo is relatively inexpensive and body work it something that I would feel mostly confident doing on my own. Also, I have access to a paint booth, so all it would cost me to paint the car would be the cost of the paint.

I do not necessarily need to keep this car for a long time, so if it DOES have a decent amount of rust underneath (which I do not believe it does), then I could possibly live with that. I definitely need something that is mechanically sound. Increase in insurance premium is not really an issue, and the guy is letting me keep all of my stereo equipment and accessories that I bought for my car out of the deal.

So, I guess what I am looking for is the opinions of people who have been around the block a few times with deals like this. Every time this guy went to start the car it fired right up on like the third crank and the motor sounds fantastic. I have been trained to be weary and hesitant because my friend is a collector and has a mint 87 Iroc-Z with around 42K as well as several other toys, so he has taught me to watch how I invest my money.

I am nervous about trading because my camaro is my daily driver and I commute to school and work. But I feel that if the car is as complete as he says it will be on Wednesday, then I will be very interested and not look back.

How big of a deal does everyone think the odd things about the body are? Because that's most of what's holding me back.

Wow, long *** post! Sorry about that mates. Thanks ahead of time.

 

Guys, just give me like a quick idea about what you think. It doesn't have to be earth shattering, just your opinion. Wednesday is getting closer and I just want some other opinions on the matter.

 

My honest opinion is that it's never a good idea to get into a car with just issues. Only getting into more expensive problems. I'm sure someone around you is selling a more complete car than what your describing just search around, I would pass.

 

IMO - pass on it. You don't have the money to fix up and sitting in a car that is worse than the one you have now will not make you feel any better. I agree that you should keep looking to find something better. Save your money because you know you have problems with your own car. More power will come later when your financial status changes. Good luck

 

I say pass. Your current ride has problems, but at least you know what they are. How many people would gladly trade a good running v-8 third gen for a worn out v-6 with a decent body? Maybe if he was planning a swap, but it would probably be cheaper to buy a shell. basically I would be suspicious of why its up for trade. I just don't know that many people who want a less powerful but better looking car. But its your choice, good luck.

 

Thanks for the opinions so far! The guy said that the car was a project that he and his son were working on making mint again, but his son lost his job out in Detroit and, as such, stopped having a cash flow for it. He said that he wants to trade me so that he could turn around and sell my car and laptop. Perhaps he is mistaken about how much money my car is worth (KBB says about $2000) or about how much he could get for my car (which will definitely be less than $2000). I would really love to save my money and get something that's in decent shape that can sit in a garage where I can work on it, but that isn't really in the cards.

I am definitely going to have the car put up in the air and have a few mechanics look at it when I get it on Wednesday for the day. I know a bit, but my friend's dad already said that I can bring it over to his garage and he and his guys will give it the old once over.

I know that more power will come when I have a bit more money, but I am so itchy for it these days! I can settle, for now, for having a ride that just looks nice but doesn't drive fast. It just kills me every time I pull up next to a Mustang and can't even turn my head to look at the driver because I know that almost no matter what his engine is more powerful than mine.

 

I would also say pass on it, since this is your daily driver. Especially with an engine swap who knows how good it runs and maybe that's why he wants to get rid of it. Also maybe it's different in NY but here in MN you would not be able to get $2000 for your car at least not in this economic state. Also generally bodywork is a lot more expensive than engine work I'm sure you could get a whole new (used) engine from a junk yard pretty cheap for your car pretty cheap.

 

You're answering your own questions...don't ya kno. Have them check out the car and go from there. Maybe the damage won't be as much as you thought. Tell your friend's dad to give you the good kid discount. In your spare time, check various lists for the cars you really want. Go outside your comfort zone. check out craig's list: all cities in your state and then start over in the nearby states. Good deals can be had on a road trip.

I live in Sacramento, CA. Spent 1 night doing the craig's list over western states and found one of my dream cars in Arizona. Everything about the car was confirmed. Flew in on Southwest early am. Went to a shop to varify running condition. Signed paperwork, paid $1200, and drove the baby back to my house. Needs minor body work but runs and sounds great. I have had several offers to buy the car from me. I'm not saying this happens all the time. If you're persistant, there are many deals to be made like mine.

 

What is the cost of what needs to be done to yours verses what needs to be done to his? Does he have proof of the rebuilds. I have had people tell me that their engine was rebuilt, only to find out they were lying and had no proof.

 

No, I'm not sure if there is any proof of the rebuild, and I am not sure how expensive it would be to have my rear main seal and head gasket fixed at a shop. I'd probably be looking in the thousands of dollar range. I don't know. I'm thinking what I might do is buy a $500 beater for my daily, sell my camaro outright and then use the money I make from that to buy a roller in good condition and then find a 350 or something to drop into it. I'm not sure yet.

 

Shoot... I'm in the Rochester area. I could do the head gasket replacement in an afternoon. The RMS could take a while, though. Keep the one you have as it's not going to get what you think it will, especially with a blown head gasket and an oil leak, and probably high miles. Besides, it's a V6...
I'd wait until I got out of school and possibly found a decent job before I stepped up in the power range. You do know that insurance is higher on a V8 than a V6, right? Depending on your age, that could cost a pretty penny, and then there is the gas and the registration.

Oh, and believe it or not, there have been people on here with V6's that deal nicely with 5.0 Mustangs...

 

Thats because mustangs are junk...I have buddies with cobalts beating them

 

"And the truth shall set you free!"

Funny thing is that the non-SS Cobalt has the same power numbers as the 3.1...

 

I am curious, Wednesday has come and gone, what was the decision?