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What would a new Formula be worth today? by formulaWA
Started on: 04-29-2017 06:20 PM
Replies: 7 (287 views)
Last post by: David Hambleton on 05-01-2017 02:22 PM
formulaWA
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Report this Post04-29-2017 06:20 PM Click Here to See the Profile for formulaWASend a Private Message to formulaWAEdit/Delete MessageReply w/QuoteDirect Link to This Post
I am looking to sell my "new" Formula but not sure how to price it. 1,800 original miles still has new car smell. I have looked through e-bay but haven't seen any with as low miles as this one. Any thoughts on what kind of price I should start with?
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wgpierce
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Report this Post04-29-2017 06:39 PM Click Here to See the Profile for wgpierceSend a Private Message to wgpierceEdit/Delete MessageReply w/QuoteDirect Link to This Post
Without knowing options and actual condition, 12 ish. If it were a GT I would think more. Is this a manual with all options or an auto with no options?
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formulaWA
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Report this Post04-29-2017 07:08 PM Click Here to See the Profile for formulaWASend a Private Message to formulaWAEdit/Delete MessageReply w/QuoteDirect Link to This Post
Thanks for your response. Condition is excellent. Looks like it just came off the showroom floor. Auto with with air and cruise but no power windows
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mrfiero
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Report this Post04-29-2017 08:28 PM Click Here to See the Profile for mrfieroClick Here to Email mrfieroSend a Private Message to mrfieroEdit/Delete MessageReply w/QuoteDirect Link to This Post
This may or may not help, but 12 years ago I sold a brand new Formula...fully loaded with all available power options, a 5-speed & T-Tops for $13000. It had just over 100 miles on the odometer and was pretty much as new.

A lot has happened since then, so it may not be a good indicator. Accounting for inflation that $13000 would be $16000 today. I don't think that is realistic for your car since it doesn't have all the goodies (and has an auto. trans), but $10000 would probably be a good jump off point.
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Dennis LaGrua
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Report this Post04-29-2017 10:18 PM Click Here to See the Profile for Dennis LaGruaClick Here to Email Dennis LaGruaSend a Private Message to Dennis LaGruaEdit/Delete MessageReply w/QuoteDirect Link to This Post
Appraising like new Fieros is a difficult task. We do know that its not a high demand car and the market is soft, but like new Fieros are still quite rare. Perhaps a hard core GM collector might buy such a car. The Formula is also a notchback and that styling is in less demand that the GT. So whats a fair price? Really hard to say but somewhere in the $10-$12 K range would be my estimate. Hook up with a good classic car appraiser for the best estimate.

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DeLorean00
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Report this Post04-29-2017 10:24 PM Click Here to See the Profile for DeLorean00Click Here to Email DeLorean00Send a Private Message to DeLorean00Edit/Delete MessageReply w/QuoteDirect Link to This Post
Also, the car is worth what someone is willing to pay for it. You might get way more than $12k if someone wanted it bad enough. If possible I would say to hang onto it for a couple more years. Recently we have seen the first uptick in Fiero prices we pretty much have ever seen. This is based solely on what prices are listed on eBay so people might just be asking more for their car vs actually selling them. It doesn't cost anything to list the car on craigslist and while it might not be the right market for your car you can always post it for whatever you wish to get for it and see if anyone calls.

[This message has been edited by DeLorean00 (edited 04-29-2017).]

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Fiero84Freak
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Report this Post05-01-2017 12:34 PM Click Here to See the Profile for Fiero84FreakClick Here to Email Fiero84FreakSend a Private Message to Fiero84FreakEdit/Delete MessageReply w/QuoteDirect Link to This Post
It may be a hard car to sell at the moment.

Everyone is still all about fastback GTs, and the recent up-tick of prices has reflected this. Some 88 GTs in particular have changed hands for really "good" prices. Despite the Formula's relative rarity it's going to really need something to pull in a perspective buyer, like T-Tops or a rarer color like yellow. Otherwise I don't think the current market will truly appreciate the car. If my memory serves me correct you couldn't fully load a Formula up (that kind of defeated the purpose of the car) and thus it not having things like power door locks or windows is not necessarily a downer but the three-speed auto may be.

For the record though my '88 Formula was one of the most enjoyable Fieros I've owned and driven, even more so than GTs. If I were back in the market I'd for sure look for a good driver 88 Formula over a fastback.
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David Hambleton
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Report this Post05-01-2017 02:22 PM Click Here to See the Profile for David HambletonClick Here to Email David HambletonSend a Private Message to David HambletonEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Fiero84Freak:

If my memory serves me correct you couldn't fully load a Formula up (that kind of defeated the purpose of the car) and thus it not having things like power door locks or windows is not necessarily a downer but the three-speed auto may be.

For the record though my '88 Formula was one of the most enjoyable Fieros I've owned and driven, even more so than GTs. If I were back in the market I'd for sure look for a good driver 88 Formula over a fastback.


My Formula 5 speed has power windows & locks. It had 5,200 kilometers (3231 miles) on it in Feb 2008 when I bought it for $10,000. It was in showroom condition.
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