Hi there. I've just recently joined 3rdGen because I have been looking at buying an 88 IROC with the intention of "fixing it up" and hopefully learning something about cars in the process.

Here's the specs that I have:
305ci TPI
4 Speed Auto Trans
Stock everything else

The paint is in terrible shape (clear coat is pretty much shot just about all over the entire car), and there is a tiny bit of rust on the front 1/4 panels. The hood's clear coat is completely gone, and the hood looks like it was baked in the sun for a few years. It is very rough to the touch and faded to pink (the car is bright red).

Cosmetics aside, the exhaust has been cut back past the cat to make room for some flowmasters (which the owner never got around to installing). The main belt (serpentine) squeaks when cold which means there will probably be a new one of those in my near future. There is some oil leakage near the drivers side head cover (it is very thick, like mud) but not a lot. I'm not sure if it is a posi (i'm checking into that). The steering makes a loud creak when turned to the right all the way and the car is in motion. Brakes stop the car but rear brakes have an obvious thump thump thump to them when applied at higher speeds (I mentioned this in a previous post). The owner says the rear brakes are new and this is why it is happening, but I have my doubts about this. The interior is in decent shape, and there is an aftermarket steering wheel. T-Tops don't appear to leak, come off and reapply easily.

This car is in dire need of a tune up, and will definitely be a long-term project car (this is what I want). Other than these problems, the car is fairly speedy in its current condition and seems to handle nicely.

The seller wants 3000 for the car, but I'm not about to pay that much for it. I did a blue book on one like it that is in "Fair" condition (poor condition won't give a dollar value because poor is loosely defined) and it booked for around $2600. I would say that this car is in poor condition, and I only plan to fix it up for racing and not use it as a primary means of transportation. I'm prepared to offer him $1000 bucks for it. Is that too low/high?

Any opinions? I realize nobody here has seen the car (I'm gonna try and get a picture to post) so any guesses would be appreciated. I just want something that I don't have to spend thousands of dollars to fix up, and get into a money pit later on. I intend on fixing it up over a long period of time as a project, but not if I'm going to go broke doing so.

Thanks for wading thru my long winded post.
Ian

 

Ian take it from me don't trust the seller. This is a MUST. I got screwed and spent 1000 bucks the day after I got my car. I think you could get it for a grand but I would shy away from the rusting quarter panels. Unless you have body shop experience. It will get quite expensive to pay someone to do everything. Good luck.

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91 z-28 305 700R4
3.73 gears out back
T-Tops and Black all over.

 

Thanks for the reply!

I want to clear up that I am not too concerned about the way the car looks right now. Just how it runs. I'm mostly concerned about how much it is going to cost me to upgrade/maintain the car (not dropping in a 350 or anything like that). Maybe years down the road, I will have it painted/repaired but not for quite some time .

You say you spent 1000 the day after you got it. May I ask on what?

Thanks again,
Ian

 

Run away from this car and do not look back.

 

I second that. Run AWAY! Run far far away!

A couple of points to back that up.

1) The rust you SEE is kinda like the tip of the ice berg. On the back side of that panel it's probably a 12" by 12" section of rusted metal. And if it's there... it will be in other places.

2) The brake thing is NOT because they're new. Brake work pretty much sucks (In my opinion) and this one could take quite a bit.

3) The engine. 305's are ALL over the place, and that one sounds like it's about trashed. You'd be better off since this is a long term project to find a car with NO engine, rather than pay for that POS.

4) Body work sucks. I can do it, have done it, will do it again... but I'm stupid and freely admit that. It's SOOO common to pay a couple of G's for a paintjob (after you've done a lot of the prep work) and still have a somewhat shoddy job done. The prep work takes forever to do, and an eternity to do right.

If you could get it for a grand it MIGHT work out... but I'd bet a silver dollar that there's quite a few more little SURPRISES that will really hurt you on this one. Sounds like the car's been plain abused... and there's no telling how that abuse can manifest itself. There are LOTS of these cars out there, I'd keep looking. If you wanna rebuild, find one with a 350. It might actually be WORTH rebuilding then.