RobE71

Hi all, new member here, great forums! I have a chance to buy a 1989 GTA convertible and was hoping to get some advice here. The car is triple black with the 5.7. Weirdly the wheels are the black honeycomb but have GTA centercaps. The ASC sticker is in the door jamb but the RPO list is not inside the console. The car needs restoration - will need paint as the clear coat is coming off the hood, the convertible top has issues, the seats and carpet have issues as well. Unfortunately someone lost the ignition key and popped the ignition and started using a screwdriver . The car runs and drives and the engine sounds good but it has been sitting for several years. I've been told it's a 2-owner. Odo is showing a little over 64k miles. Clear correct title. VIN is 1G2FW2182KL235286. I can buy it for $2,500. I think it would be a good investment for the future, what do you guys think?

Drew

iTrader: (58)

Don't buy it as an investment, buy it because it's the car you want. The potential collector value is there, BUT the restoration will cost you more than the same car would likely cost you in original condition. Restoring these cars isn't easy. What is available as aftermarket restoration parts is generally shoddy quality, and visibly off from the real thing. I wouldn't say it's impossible to make a beater as nice as an original car, but it's damn close.

Croz

Agreed, dont buy it as an investment, and be ready for the surprises that come along the way. Unfortunately surprises always equal extra cost. However, what else can you buy for $2500 bucks. A 10 year old honda civic with 200 thousand on the counter? Cant buy much these days for 2500 bucks.

Mechanical stuff is fairly inexpensive (at least for me anyways). Where I get scared is paint and body work cause I cant do it myself. Price it all out and give yourself a buffer....if you can live with the final total, then go for it. I cant see these cars going down in value. They will at least hold where they are or start to rise. The vehicle I recently bought has been appraised 4 times over its life by the same company. Each time the vehicle's value has increased.

thtanner

iTrader: (1)

Let's put it this way...

I paid $1,800 for my car. Another 12 grand later it's in good shape.

I could have paid 5-7 grand to buy a car that didn't need anything.

Was it worth the extra 7 grand and the hassle to do it all myself? On most days, I'd say sure. It won't ever be worth what I put into it, most likely.

Just be aware of what you're getting into.

3rdgenparts

iTrader: (8)

IMO $2500 is a INSANE STEAL for ANY V8 Conv third gen. Granted no serious body damage and or rust


Personally I passed on a GOOD DEAL on a local nice '92 T/A vert
To many cars and a new Suburban on the plate for me lol


Dave

Vanilla Ice

Buy it.

chazman

iTrader: (4)

Unless it's a rusted Fred Flinstone car, buy it! I agree with Drew in that they are a pain to restore because the replacement parts aren't the best, but 5.7 'verts aren't everywhere and $2500 is CHEAP.

Post pics!

rarebmx

iTrader: (6)

Possibly some background will help you decide.
1989 Pontiac dealers sent approximately 144 cars to ASC to be converted into convertibles. There is a master list that will tell you where that car was bought new if you have the last 6 digits of the VIN.
The RPO sticker is important but Pontiac Historical Society would more than likely be able to get you an original window sticker telling how this car was equipped originally & you could probably get a reprint RPO sticker from that. Most GTA Convertibles in 89 were similar in equipment. If all the bones of the car are solid I would jump on it!
Restoration all depends on how far you want to get involved. If you want showroom new, it's going to cost big bucks either way, because a like new restored car isn't going to be bought for under $15.000.
You can make a very nice driver out of the car & you will know the car inside & out doing it yourself. Buying a car that's been "restored" can be risky due to a lot of people lacking details & skipping steps that others require.
Some new paint over an old engine looks rebuilt but is it?
I'd say buy it & if you don't buy it, pass along to us in TGO & one of us might buy it.
I own one of the 144 GTA convertibles made in 89. I paid much more than $2500.
Post up some pictures

rarebmx

iTrader: (6)

Okfoz- VIN 1G2FW2182KL235286
I didn't see VIN on master list but you have the information.
The car is a 5.7. All GTA wheels were GOLD but that's an easy solution

thtanner

iTrader: (1)

Also note, just because it is "rare" does not mean it is valuable. Restored cars won't have the same value as survivors, so if you're going for value alone, consider that.

Not trying to dissuade you, in fact, I think you should buy it! Just make sure it's for the right reasons.