1960 mile 92 1le just brought 42k !!
01-21-2019, 06:53 AM
#2
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Location: Freehold NJ
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Car: 87 Iroc 5.7,67 SS Camaro,90 Formula
Engine: 355 AFR Superram LPE 219
Transmission: 700r4 3000 stall 4spd 5 spd
Axle/Gears: 3.27
Re: 1960 mile 92 1le just brought 42k !!
I wish there were more thirdgen cars at the auction. This car was nice!
01-21-2019, 07:04 AM
#3
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Car: 1989-92 FORMULA350 305 92 Hawkclone
Engine: 4++,350 & 305 CIs
Transmission: 700R4 4800 vig 18th700R4 t56 ZF6 T5
Axle/Gears: 3.70 9"ford alum chunk,dana44,9bolt
Re: 1960 mile 92 1le just brought 42k !!
Nice to see, still wish my 92 1LE Formula order would have been placed back in the day.
01-21-2019, 01:14 PM
#5
Re: 1960 mile 92 1le just brought 42k !!
I posted a response to this car on the Iroc Z FB group. Some of you may have seen it already. Here is my take on that car and its selling price.
You have to wonder how much money was spent on that car since it was brought home from the dealership. Utility bills to keep it stored in a climate controlled garage. Preservation steps to make sure that rubber, plastic, and leather remain in great shape. The mechanical upkeep with fresh fluids in the car as well as making sure gaskets/seals are not drying out. Then, add in insurance on it over the life span of the car. The car was around $18K-$19K new. Im sure there was insurance on the car for the last 26 years. Lets say that yearly insurance over the past 26 years was $600 per year. Then add in excise tax and registration fees if the owner kept plates on it. You would be looking at over $16K just in insurance and state fees. Finally, add in all the detailing/cleaning that went into it to prepare it for the auction as well as transportation fees and seller fees. It sold for $42K. I dont see that as a great long term investment on a car. Am I missing something?
You have to wonder how much money was spent on that car since it was brought home from the dealership. Utility bills to keep it stored in a climate controlled garage. Preservation steps to make sure that rubber, plastic, and leather remain in great shape. The mechanical upkeep with fresh fluids in the car as well as making sure gaskets/seals are not drying out. Then, add in insurance on it over the life span of the car. The car was around $18K-$19K new. Im sure there was insurance on the car for the last 26 years. Lets say that yearly insurance over the past 26 years was $600 per year. Then add in excise tax and registration fees if the owner kept plates on it. You would be looking at over $16K just in insurance and state fees. Finally, add in all the detailing/cleaning that went into it to prepare it for the auction as well as transportation fees and seller fees. It sold for $42K. I dont see that as a great long term investment on a car. Am I missing something?
01-21-2019, 01:27 PM
#6
Re: 1960 mile 92 1le just brought 42k !!
That is good money for a camaro with just big brakes
01-21-2019, 01:29 PM
#7
Moderator
Join Date: Mar 2001
Location: Doghouse ······································ Car: 1989 Formula 350 Vert Engine: 350 L98 Transmission: 700R4 Axle/Gears: B&W 3.27
Posts: 14,235
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Car: 87 Formula T-Top, 87 Formula HT
Engine: 5.1L TPI, 5.0L TPI
Transmission: 700R4, M5
Axle/Gears: Sag 3.73, B&W 3.45
Re: 1960 mile 92 1le just brought 42k !!
I posted a response to this car on the Iroc Z FB group. Some of you may have seen it already. Here is my take on that car and its selling price.
You have to wonder how much money was spent on that car since it was brought home from the dealership. Utility bills to keep it stored in a climate controlled garage. Preservation steps to make sure that rubber, plastic, and leather remain in great shape. The mechanical upkeep with fresh fluids in the car as well as making sure gaskets/seals are not drying out. Then, add in insurance on it over the life span of the car. The car was around $18K-$19K new. Im sure there was insurance on the car for the last 26 years. Lets say that yearly insurance over the past 26 years was $600 per year. Then add in excise tax and registration fees if the owner kept plates on it. You would be looking at over $16K just in insurance and state fees. Finally, add in all the detailing/cleaning that went into it to prepare it for the auction as well as transportation fees and seller fees. It sold for $42K. I dont see that as a great long term investment on a car. Am I missing something?
You have to wonder how much money was spent on that car since it was brought home from the dealership. Utility bills to keep it stored in a climate controlled garage. Preservation steps to make sure that rubber, plastic, and leather remain in great shape. The mechanical upkeep with fresh fluids in the car as well as making sure gaskets/seals are not drying out. Then, add in insurance on it over the life span of the car. The car was around $18K-$19K new. Im sure there was insurance on the car for the last 26 years. Lets say that yearly insurance over the past 26 years was $600 per year. Then add in excise tax and registration fees if the owner kept plates on it. You would be looking at over $16K just in insurance and state fees. Finally, add in all the detailing/cleaning that went into it to prepare it for the auction as well as transportation fees and seller fees. It sold for $42K. I dont see that as a great long term investment on a car. Am I missing something?
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01-21-2019, 01:56 PM
#9
Re: 1960 mile 92 1le just brought 42k !!
I dont see that as a great long term investment on a car. Am I missing something?
01-21-2019, 01:58 PM
#10
Senior Member
Re: 1960 mile 92 1le just brought 42k !!
If you are buying new cars as an investment, you need a new plan. I have several cars that I bought new and still have, with very low mileage. I didn’t buy them as an investment, but rather because “I wanted them”! Are they for sale......sure, if someone wants to offer crazy money for them. Otherwise, I enjoy them for what they are, and I’m not banking my retirement on them. Someday, someone else will own them, and hopefully enjoy them.
01-21-2019, 02:04 PM
#11
Moderator
Join Date: Mar 2001
Location: Doghouse ······································ Car: 1989 Formula 350 Vert Engine: 350 L98 Transmission: 700R4 Axle/Gears: B&W 3.27
Posts: 14,235
Received 163 Likes
on
118 Posts
Car: 87 Formula T-Top, 87 Formula HT
Engine: 5.1L TPI, 5.0L TPI
Transmission: 700R4, M5
Axle/Gears: Sag 3.73, B&W 3.45
Re: 1960 mile 92 1le just brought 42k !!
If you are buying new cars as an investment, you need a new plan. I have several cars that I bought new and still have, with very low mileage. I didn’t buy them as an investment, but rather because “I wanted them”! Are they for sale......sure, if someone wants to offer crazy money for them. Otherwise, I enjoy them for what they are, and I’m not banking my retirement on them. Someday, someone else will own them, and hopefully enjoy them.
01-21-2019, 06:14 PM
#12
Re: 1960 mile 92 1le just brought 42k !!
Well for one i was really just joking and second i couldn't agree more about what u said so ur r right. Nothing to debate about that already hasn't been gone over several times actually glad to see r cars increasing value.
01-21-2019, 07:46 PM
#15
Moderator
Re: 1960 mile 92 1le just brought 42k !!
01-21-2019, 08:17 PM
#16
Senior Member
Re: 1960 mile 92 1le just brought 42k !!
LOL! I enjoy seeing the young guys on here that are keeping the Thirdgen alive! I remember the days of hunting down the elusive car and the elusive deal. Keep up the good work!!
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