I am currently looking at a 92 L98 Formula with 36k original miles and need some opinions on it's value, Car is like new inside and out. Original everything. Even the tires. Not a t-top car, and not a yellow car. Otherwise has all the options. One of 400 made in 92. What should this car be worth?? Thanks.

 

Hi,

I would grab that car in a heart beat. A 92 model is fairly "rare" if i may use that word, along with being that original AND also a L98 car would tend to drive the price up some, i will not give a $ value as now with the econ and such it would be very hard. Sounds sweet I have a 1992 GTA " Canadian export car" so i know where you are at...good luck ! GTA

 

I know its pretty rare. Would be nice if it was a yellow L98, but good luck finding one of those. I searched for 15 years to find a yellow L98 '87 and finally found one with under 10k miles a few years back. Low mile original stuff like this really yanks my crank. This car has 36k on the clock, but looks brand new. Had to pay for my 87, and have to pay for this one as well. Seems folks are not giving cars like this away.

 

I would say around $10,000. I've got a '90 Formula 350 with 32k original miles that appraised a few years ago for $12,500 and I had a few offers in that range. However, the market is definitely down a little now and I would say probably no more than $10k.

 

Thanks, that helps. The bottom dollar on the car is $10,000. I paid $12,500 for my 87 3 years ago when it had 7000 miles and just wanted to see if you guys agreed that these cars are still worth that kind of money.

 

I think that's a fair price. By no means a steal but if it's something you like I wouldn't hesitate to buy it. Low mileage cars like that don't turn up everyday.

 

Finding that Steal of a deal is getting harder as people are figuring out what these cars are worth...

BTW, there are a ton of people out there looking for that Yellow Formula 350 T-top car...

I am partial to Yellow myself.

 

Out of curiosity, what makes it a 1 of 400? Is that how many '92 L98 Formulas there were in total?

 

Just out of curiosity. If we were talking about a yellow L98 with T-Tops and 36k miles.....what kind of value would we be talking then?? Assuming the condition is exactly the same. Only difference being color, t-tops, and the crosslace wheels since that is what you got with the t-tops. I am just wondering how much of a premium the rarity of yellow would put on the car's value.

 

Yes, about 400 (or so) formulas were built with the L98 motor in 92.

 

Actually Cross laced wheels does not mean you have to have a 350 or T-tops. You did have to order the Cross laced wheels to get T-tops with the L98. But you could technically order the Cross laced wheels on ANY Formula in 1992 AFAIK there was nothing in the literature to limit the wheels... I know of a LB9/M5 car that has the Black Cross Laced Wheels... The car is yellow too ...

Yellow is a huge thing AFAICT on these cars, very sought after... Of course it would depend on the person buying but that appears to be a very popular wanted color.

 

Interesting. I had read somewhere that approximately 300 or so had the L98 and t-tops (my combo.) Does it sound right that 75% of the L98 Formulas sold that year would have t-tops?

 

I think probably colser to Half or 200. IIRC every year half of the cars sold had T-tops. Of the 1992 Formula 350's that I have seen, about half of them had T-tops. It is by no means scientific, But that is my estimation...

John

 

Here is the car I am talking about guys. Just bought it for 10k. 92 L98 with 36k miles. Original everything. Tires included.

http://public.fotki.com/im4darush/ca...rbird-formula/

 

That is one nice thridgen!

 

I hope you do not drive it and show that car... it is AWESOME!!! From those pics it would do very well at a National Firebird show...

John

 

WOW THAT IS VERY NICE!!!
The ONLY thing I would change is the alternator. Ditch the autozone replacement and put a GM AC delco on it !!!

Darn good find !! worth every penny.
Enjoy it first and foremost but most of all take care of it!!
nice!!!!

 

No, it wont be driven. It will be shown along with my 87.

Dont have the car just yet, but will look into the alternator once it gets here.

 

Congratulations for that purchase man, that car is superbly well kept: Red exterior & tan interior, sweet!! That's all I can say

I wish some day I can import a Formula back to my country as it's impossible to find here one of those in that shape, even in decent working condition it's a hard task too

 

WOW, that is a fantastically well kept, clean car!
For that kind of clean shape, on original tires, it is well worth the money.
Congrats, great find!
Post more pics once you get it!
Mark

 

Man Why cant I find these around me? If they were around me and my family would have 20 third gens.

 

I'm just digging through threads...but i have a 92 formula 350 with 62,000 miles. Bought it this spring and repainted it, but the bottom is a little crusty. But the report we purchased says only 828 formulas for 92...I have seen some other reports show a few over a 1000. Ours is black, t tops, black laced wheels. 5.7...just what I wanted, but no clue of value. I am not sure what we have although I am pretty sure, I just dont think its as rare of a catch, not being pristine.

 

The latest data I have is at least 883 W66 Formulas. Compnine (the holder of the data) is incomplete when counting all cars for 1991 & 1992, and considered useless from 1982-1989 for F-bodies... I know it is missing about 10% of the data...

The other data I have is 1052 Formulas, which would probably be more accurate.

I know there were about 400 ish Formula "350"s made in 1992, about half of which had T-tops. The Formula 350 ceased to exist after 1990 Model Year, it became a Formula, with a 5.7L engine, but we still accept Formula 350 as appropriate.