I'm brand new to this site so let the hazing begin I guess.

I have yet to go and stick my head under the hood and check things out, but I've been researching these cars for a few days now and this site comes up again and again so I figure you guys would have the best handle on a few questions that might help me out.

I've got a line on an 89 convertible. Odometer says about 135K miles but the seller says it's closer to 90K. 305 TPI. Needs a new top and some rubber seals as the top leaks from the seals but is otherwise in a decent (repaired) condition. Interior is tired and could be redone. It has had some upgrades in the electrical department. Essentially everything from the alternator to the plugs are new. New shocks and some lowering springs were added as well. About the only real performance additions are some headers and the exhaust system. I don't think she's ever been repainted either.

Basically this thing has been decently maintained, but could use a lot of love to bring it up to good condition.

I'm looking for any heads up on what to look out for as far as problems go and a price to start negotiations with. I know these cars are fairly rare, but I'm not looking to dig a pit to toss money into either.

 

I'm new to the whole Vert scene myself, but it doesn't matter what that guy is telling you. There are 135K miles on that car. I don't understand what he means by its closer to 90K. If the odometer says 135K, then that's what it is and that is what the DMV will say it is. Start with whatever you think is a fair price and don't be afraid to walk away if he doesn't come close. Remember, its your money so if you aren't comfortable paying what he's asking then start the look for another car to buy. For some reason, it seems like people are starting to ask stupid prices for some of the thirdgens, convertibles in particular.

 

Check floor pans for rust, especially the drivers side. It will usually be pretty obvious if you run your hands along the floor (in my experience, the usual rust spots are either right at the edge of the floor pan or 6 inches in or so where it bends for the footwell and pedals and can be easily felt by hand without the car having to be jacked up.

Always, take off the oil cap and look for crud build up on the cap, and feel with your finger for crud on the rocker arm near the oil cap opening. Crud of using crappy oil and going too long between changes. A lot of crud can mean the engine won't last long.

As long as it's rust free, the trans doesn't slip, and it drives well, most parts are relatively affordable on these cars. The biggest expenses are when you get into rust repair, engine replacements, transmission work and OBVIOUSLY paint.

Plus, don't believe what someone is telling you when they sell the car, the want it sold. Every 305 car I've bought I was told it was a 350 (I always countered with I think it's a 305). They want the car sold and want the most they can get for it. Believe only what you can see and verify.

 

Price varies by region, and can fluctuate wildly throughout the course of a year. It depends on gas prices, weather, time of year. Times where gas prices are high, prices for V8, rear wheel drive cars usually go down, and same is usually true for winter. So, price is whether you deem it's worth it or not.

 

Thanks guys.

I guess I'm trying to talk myself out of an expensive project before it starts.

I don't mind the work to build it up, but I'm value oriented. I like to able to add equity to a project, not drop endless cash into a vanity piece.

 

I bought an 1989 IROC_Z vert couple weeks ago. It is a 305/AT and also needs paint, top, W-Strip and servicing, electrical accessories repairs. I replaced it's cracked radiator last week(and added a T-Stat).

I believe the 3RD Gen Camaros will see strong appreciation, in the next few years, as the 2ND Gens have last year.

Since were in cali, were stuck w/ their punitive smog laws. How I'd love to install an L31 350 full block, but can't.

 

PM sent.

 

Yes, these cars are old enough to begin their value ascension but the down side of their age is the use on the parts. If it has the original suspension and the engine has over 100K miles on it count on having to rebuild the engine and suspension if you want to keep it long term or make money on selling it in a few years. Try to make sure the top needs is functional without any bent rods or tears in the cloth as