I'm thinking about buying a 1989 Camaro Iroc-Z and wanted to see what you all thought it was worth.

It has 143,000 Miles, 5.0L TPI engine, Automatic.

The paint is nice but has chips on the hood from rocks and a dent on the door. The interior is great so is the convertible top but the window is a little faded.

The idle is a little rough and the air does not work.

There asking 6000 but I think that is way too much what do you think its worth?

 

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NADA for that car in that condition is $4,100. So that is what its 'worth', but if you really want it, it would still be justifiable to go up to about 4,500$--maybe.

 

NADA, KBB, and Edmundsare worthless IMHO.

Although they give an estimation of what the car "should" be worth they leave out some very serious factors.

The "Want" factor is probably the most important factor to the purhcase of any third Gen F-body at this point. Where most cars are appraised on what the car was originally and then depreciated for 20 years and then collected later.
1) These cars are not "practical" for most intents and purposes; and therefore fall into a category that is hard to actually estimate the value of them. They tend to fall out of the necessity category and into an emotional purchase category which is hard to put a price on.
2) The Third Gens seem to be actually going for more than what the "Book" value is stating. Part of the craze is due to the high prices of the TTA and the Firehawk, also driving up demand is the fact that these cars are becoming more and more unusual in good condition.


It all depends on what you want and what you can get and how bad you want it.

John

 

i got off and saw it to it is in colorado street or something like that?DeLorean247 Did you went with your son? did you saw a silver camaro?

 

In the Michigan Auto & RV:
89 IROC, vert, 23K, 305TPI 5 sp White $13,000
91 RS, Hard Top, 28K, 305 Blue $8,500
83 T/A, T-top, unknown miles, RUSTY, White/Gray, $2,800
87 IROC, HT, unknown miles 305/5sp Blue $5,000
91 RS HT, 31K, 305, Blue $9,000
85 Z28?, GFX, T-top, 39K, unkn motor White/Gray $7,900
86 IROC, T-top, 66K, A4, Yellow $3,950
86 IROC, T-top, unknown miles, unknown color $3,495
86 T/A, HT, 81K, 305, 5 Speed, Blue, $5,200
86 IROC T-top, 73K, TPI, A4, RED $7,495 (DEALER)
82 Z28 Indy Pace car, T-top, 80K, 305 A4, Silver/Blue $7000

Obviously the values of our cars is increasing, As of now it seems that a low miles car about 20K or lower is expected to get about 75% what the Original price was.

Some things to keep in mind when buying a "collectable"
1) Converts are typically double of the hard top variation
2) Cars with Performance engines will almost always bring more.
3) A numbers matching vehicle is more desirable to some, however that is not as much the case as it was 10 years ago.
4) A nice shiney car that looks and drives nice will be worth more than a low miles crappy worn out POS.
5) Engines and Transmissions can be easily fixed, RUST is to be avoided unless you like the labor. You can typically rebuild an Auto Trans for less than $1500 and engine if your into DIY then expect about $1200

The rough idle could be a lot of things, usually a dealer will try to get thim running as well as they can without putting in a lot of money or work into it. It could be as simple as needing a new distributor cap, wires or as involved as a blown head gasket. or even a bad injector.

For a car that has those miles runs perfect, looks great drives great, sure $6K is an ok price right now. For a car with a choppy idle, I would give a max of $4.5K because you don't know what your getting into. If there willing to take $5.5K and they get the car running perfect then you may consider it.

Good luck

John

 

I would say that if a dealer wants $6k for it, they picked it up from the owner for a lot less. Check KBB trade in value for what the dealer would say is good condition. That's still probably more than they paid.

I loaded the car with all available options and got a trade in value on KBB for $1280. They might have given $2k. Offer them $2800 and see what they do.

A dealer will try to get retail pricing equal to what the consumer will pay. For them to get their profits, they mark 'em up drastically and rob the public blind! Trade in value today is less than wholesale. It used to be that you could trade in a car for a little less than retail but with leasing, the auctions have provided 90% of used cars to dealers and they can get whatever they want for wholesale at the auction. Trades are much less these days.

 

That is very true, because of the afore mentioned Leasing the Used car market has been flooded with used cars. Where before people would purchase a new car less often, they are leasing cars more often giving the used car market an influx of previously leased used cars.

However this brings me back to a previous point about the value of our cars. The typical good condition F-body is a vehicle of pleasure, and typically a secondary vehicle, not as a primary vehicle. Because of this Used F-bodies are tending to lean toward more than book value. Its good for owners, bad for purchasers. The trend I am seeing is the 3rd gen F-Body is becomeing a sellers market.

What I find is discourageing is a Dealer would rather take a car to auction and lose money than sell the same car to a customer at what they want to get for it at auction. I have seen it. My parents were looking at a Minivan, the dealer was taking it to auction the next day, They were asking 12,000 for it my parents offered them 10,000 and the dealer turned it down. There is no way the wholesale on the van was that high, The wholesale of the vehicle was about $7,000... I don't get it.

John

 

Remember that the retail value is more than book value. People selling these outright will, and can, ask for more. A dealer will offer book value so they can get it cheap and try to sell it retail.

Case in point, my 93 Pace Car....Dealers use KBB in Orlando. KBB does not give credit for the car being a Pace Car and 1 of 500 made in this configuration. I have been offered $6k for the car on trade for a $35k truck. You know they will put it on the lot and capitalize on the fact that it's rare and try to sell it for NADA specialty car pricing in the mid teens. Dealers also used to tell you that the annual mileage was 12k/year when you trade your car in, but was 15k/year when you are looking at their used cars! Whatever benefits them.

 

At this point in Time I think KBB, NADA, and Edmunds are entirely out of sync with reality.

I checked KBB on an 87 IROC, T-tops, 350, loaded, 12,000 miles Its worth $3,500 according to Edmunds the same car is worth about $2,500...

Scott want to sell your car for that kind of price?

 

Scott, NADA shows the 93 low retail of 13k and a high retail of 24k since it's an Indy Pace car and a high retail of the 87 Iroc at 4,400, it's too hard to say.

NADA is the best to use since the banks use it as well to get the value of a vehicle, plus they take into consideration if it is a specialty vehicle or not.

Now as for the 89 Convertible

Low retail from NADA is 3,100 and high is 4,900

I agree with Scott, offer them 2,800 and see what they do, but wouldn't go any higher than 5k on it.

 

Remember, this is at a dealership. They should not be allowed to sell this car at retail pricing since they don't own it for retail. They stole it from the owner and is trying to make a killer profit! If they won't budge, try negotiating a free long term warranty or something else. DO NOT PAY RETAIL PRICES AT A DEALERSHIP!

 

Yeah the guy said they got the car for a little over a grand they ripped someone off.. But it looks like they wont budge on the price more than afew hundred bucks... And not idleing right, having high miles, having an electrical burning smell.. needing re painted in some spots, And since the first time i saw it someone has ripped the roof.. Its not worth it..

To bad dealerships arent more fair in the pricing.

It will endup going for nothing at auction in the end im sure.

 

I think some dealerships, especially those who offer financing, tend to hope for a live one.


John