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Fair price for a 1987 GT that needs a new transmission? by echocharliepapa
Started on: 07-10-2014 03:49 PM
Replies: 8 (279 views)
Last post by: rogergarrison on 07-15-2014 01:18 PM
echocharliepapa
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Report this Post07-10-2014 03:49 PM Click Here to See the Profile for echocharliepapaClick Here to Email echocharliepapaSend a Private Message to echocharliepapaEdit/Delete MessageReply w/QuoteDirect Link to This Post
Hey all,

I'm looking to sell my 1987 GT locally, but I don't know how much to ask for given it's condition. It's in what I would call good shape overall: a few cosmetic issues (needs a quarter window, the paint on the gas tank fill is flaking off, cracked tail light cover, a few tears in the driver's seat and tearing headliner) and needs a new antenna, but has newish tires, new water pump, new ignition kit. The biggest issue is that the manual transmission is apparently completely shot, cannot be rebuilt. I don't know specifically what's wrong with it. It has also been sitting for the past year as a result of this (and my acquiring an 88 Formula put the GT on the backburner for me). Other than that, the engine ran fine (needs a jump now, will get to that before listing it). I think it's perfect for someone who wants to do a powertrain swap or just needs parts, but I don't know what kind of a price is appropriate. I was asking $1800 obo on craigslist a few months ago and got some interest but nobody followed through to even come look at it. 140k miles, white with gray interior, original everything including stereo (tape deck needs fixing). My finances are tight right now, so I would prefer to sell sooner than later, but I also don't want it to go for much less than I could save by keeping it around as a parts car.

Thanks for your input in advance!
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Gall757
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Report this Post07-10-2014 06:15 PM Click Here to See the Profile for Gall757Send a Private Message to Gall757Edit/Delete MessageReply w/QuoteDirect Link to This Post
Look at it from the buyer's point of view. If he is not a mechanic it will cost over $1000 alone to get a good used transmission installed....then all the other stuff that needs fixing is added on, and makes your car a risky proposition. If everything works and looks good it's probably not worth over $3000. The transmission is the most expensive part on that car, worth more than the engine, so you may have a parts car.
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Formula88
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Report this Post07-11-2014 12:36 PM Click Here to See the Profile for Formula88Send a Private Message to Formula88Edit/Delete MessageReply w/QuoteDirect Link to This Post
Call a shop and ask how much it would cost to have the transmission replaced. Subtract that from the value of the car with it fixed. That will be the high end of what you can expect. Any car that doesn't run is a wild card because you can't drive it to verify condition, so it's going to sell for less all else being equal. If it's worth $3000 fixed and the repair job is $1500, I wouldn't expect it to bring more than $1000-1200. A non-running car is a parts car to most people - that makes it only worth a few hundred at best to most people.
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fierosound
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Report this Post07-13-2014 12:12 AM Click Here to See the Profile for fierosoundClick Here to visit fierosound's HomePageClick Here to Email fierosoundSend a Private Message to fierosoundEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Formula88:

A non-running car is a parts car to most people - that makes it only worth a few hundred at best to most people.


Agreed! A non-running car is the way an unscrupulous buyer can rip you off big time!
You have have no way of verifying how good everything else is mechanically.
It might look good, but may also need brakes, suspension, steering rack.... it can add up real fast.

It's like these other ads you see. "only needs A/C recharged" - so why doesn't HE do it before selling? (maybe it actually needs a new compressor?)
Or the classic "needs a battery to run" - HE can't be bothered to spend $50 and get one?? (because it has other problems?)
I'm sure if you ask, they'll have a host of "reasons" - everything from "I'm giving YOU a deal" to "I'm too busy". Yeah, right!


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[This message has been edited by fierosound (edited 07-13-2014).]

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jscott1
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Report this Post07-13-2014 02:16 AM Click Here to See the Profile for jscott1Send a Private Message to jscott1Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by fierosound:


Agreed! A non-running car is the way an unscrupulous buyer can rip you off big time!
You have have no way of verifying how good everything else is mechanically.
It might look good, but may also need brakes, suspension, steering rack.... it can add up real fast.

It's like these other ads you see. "only needs A/C recharged" - so why doesn't HE do it before selling? (maybe it actually needs a new compressor?)
Or the classic "needs a battery to run" - HE can't be bothered to spend $50 and get one?? (because it has other problems?)
I'm sure if you ask, they'll have a host of "reasons" - everything from "I'm giving YOU a deal" to "I'm too busy". Yeah, right!



While this is all true that an unscrupulous seller can rip you off this way, it's not always the case. Often the seller really does just get fed up and wants to sell the non-running car "as-is" and just be done with it. If it was a perfectly running driving car they would probably keep it. The OP fits this category.
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echocharliepapa
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Report this Post07-13-2014 04:38 AM Click Here to See the Profile for echocharliepapaClick Here to Email echocharliepapaSend a Private Message to echocharliepapaEdit/Delete MessageReply w/QuoteDirect Link to This Post
It started and ran just fine when I pushed it home from the shop a year and a half ago. Had it towed to a friend's house for storage last year, tried to jump it the other day but no luck. Going to drop a battery in and make sure it starts, but yes, I am simply tired of spending money on it. I have an 88 Formula with lower mileage, and while I miss the look and the power options of the GT, I simply need the money more now. I was going to just have a full powertrain swap done after the transmission died but the Formula dropped into my lap and I can't justify keeping both.

Thanks for the input, very helpful!
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fierosound
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Report this Post07-13-2014 11:51 AM Click Here to See the Profile for fierosoundClick Here to visit fierosound's HomePageClick Here to Email fierosoundSend a Private Message to fierosoundEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by jscott1:

While this is all true that an unscrupulous seller can rip you off this way, it's not always the case.
Often the seller really does just get fed up and wants to sell the non-running car "as-is" and just be done with it.
If it was a perfectly running driving car they would probably keep it. The OP fits this category.


I'll give you that - a broken tranny is one thing. I can see someone not wanting to spend what that repair would cost.
It's the guys giving all kinds of excuses over a $20 1/2 hour repair that I am leery of.
How about "A/C works - just needs a new fuse"... ?

It can happen to anyone anytime they cannot assess the true condition of the vehicle. Even test driving won't tell you everything.
But you will definitely be able to see/hear/feel what the car is like and what it is doing better than just staring at it.

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[This message has been edited by fierosound (edited 07-13-2014).]

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olejoedad
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Report this Post07-13-2014 09:56 PM Click Here to See the Profile for olejoedadClick Here to Email olejoedadSend a Private Message to olejoedadEdit/Delete MessageReply w/QuoteDirect Link to This Post
$500.....maybe a grand if its real nice.
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rogergarrison
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Report this Post07-15-2014 01:18 PM Click Here to See the Profile for rogergarrisonClick Here to Email rogergarrisonSend a Private Message to rogergarrisonEdit/Delete MessageReply w/QuoteDirect Link to This Post
That sounds about right.

I bought a used limo for my service years ago. It belonged to another local service. The front or rear air didnt work. He told me it just needed charged, they had done some repairs on it and didnt have freon to fill it on hand. I bought it on his word, and estimate to fix it was almost $1500. I just parked it to keep for a winter or fall car, or emergency backup. I did offer it at a lower rate if a customer wanted, telling them it did not have AC. Moral...always buyer beware.
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