I am seriously considering buying an 89 formula and wanted to see what the consensus was on price.

Details:
62k miles
5speed
305 with all emissions no "provable" mods (guy blows lots of smoke about cam, chip ect)
hard top

perf mods:
panhard bar
eldebrock catback
offset strut mounts (car was auto-xed)
konis all around
1LE brakes done by previous owner and rear discs

Damage:
minor rust on rear of all wheel wells but not serious (ie no bubbles)
both front and rear bumpers have small (2 inch) tears in the rubber near attachment points. would have to replace both to fix but wouldent get any worse.
the normal 5 foot looking distance dings but looks great from 5 ft out.

Reason for buying:
I want a 5 speed to auto cross and maybe make into a sedan A racer in a year or two.

The guy is advertising 5200 but he says negotiable.
top NADA is 4000, mid is 3400 and I would say the body is in between those two classes with the mileage being well below average.
I was going to negotiate with 4000 being my max.

What do y'all think?

PS connecticuit car

 

$3500, for such low mileage, it doesn't sound like it was very well maintained.

 

maybe I made it sound worse than it actually is.

the bumper defects are the only glaring body fault.

but that was my assesment as well 3500 initially with 4000 being my max

 

About 6 years ago, I sold an '88 Formula 350 for $4,000. It was in excellent condition (no dings, rust, etc.) and had 80K miles on it. It was an automatic and had T-tops.

I currently have a '91 Firebird. When I got it, it was all original, in good condition. It had a 305TBI with 5-speed with 90K miles. It cost me $4,000.

For a 3rd gen F-body in good/excellent condition, I wouldn't pay much more than that. Maybe $5,000 for a rare model in excellent condition.

 

I guess it just depends on your location. When we bought my car 2 years ago, I got a '92 RS, t-top, perfect body and interior, 123k highway miles for $5000 and we thought that was a steal. That car could have easily gone for $5500-6000.

 

I bought my 91 z28 5 sp 3 years ago for $6500 with 36K, mint all around , loaded, still had original tires.