Pennock's Fiero Forum
  General Fiero Chat
  Formula values

Post New Topic  Post A Reply
Email This Page to Someone! | Printable Version


next newest topic | next oldest topic
Formula values by louielouie2000
Started on: 03-16-2014 09:40 PM
Replies: 24 (685 views)
Last post by: Raydar on 03-23-2014 07:01 PM
louielouie2000
Junior Member
Posts: 8
From: Austin, TX
Registered: Mar 2014


Feedback score: N/A
Leave feedback

Rate this member

Report this Post03-16-2014 09:40 PM Click Here to See the Profile for louielouie2000Send a Private Message to louielouie2000Edit/Delete MessageReply w/QuoteDirect Link to This Post
So this is my first post... my name is Louie, I've been lurking on & off for years. I've been a huge fan of Fieros since they came out when I was a kid. I'm now 31 (going on 32!) and recently got a big promotion at work. So I'm thinking it's time for me to finally make my Fiero ownership dream come true. I'm not new to classic car ownership- I've owned 2 DeLoreans & continue to stay active in that community though I sold mine years ago. Anyway, I hope to put enough money aside to buy my own Fiero sometime within a year.

In any event, I'll want to pick up the most pristine, bone stock '88 Formula I can buy. I've seen a few come up over the past several months in conditions similar to this one:

http://www.thompsonsales.co...gfield-MO/2165015533

The asking price of that car is pretty similar to the other cars that I've seen in comparable condition. But I guess what I really want to know is: what is such a car actually worth? The obvious answer is of course what someone will pay for it. I guess I'm just seeing conflicting things all over the internet. The Fiero.net price guide says it's worth less than $6k; while Haggerty's guide says it can be worth $16k. I'm guessing the true value for such a car is somewhere in between. Y'all have any thoughts?
IP: Logged
PFF
System Bot
mrfred8
Member
Posts: 1719
From:
Registered: Oct 2011


Feedback score: (2)
Leave feedback

Rate this member

Report this Post03-16-2014 09:46 PM Click Here to See the Profile for mrfred8Click Here to visit mrfred8's HomePageSend a Private Message to mrfred8Edit/Delete MessageReply w/QuoteDirect Link to This Post
Here is another price guide you can throw into the mix. http://www.paulvargyas.com/Price%20Guide.htm Keep an eye on cars that actually sell on ebay and see what they are going for.
IP: Logged
louielouie2000
Junior Member
Posts: 8
From: Austin, TX
Registered: Mar 2014


Feedback score: N/A
Leave feedback

Rate this member

Report this Post03-16-2014 09:53 PM Click Here to See the Profile for louielouie2000Send a Private Message to louielouie2000Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by mrfred8:

Here is another price guide you can throw into the mix. http://www.paulvargyas.com/Price%20Guide.htm Keep an eye on cars that actually sell on ebay and see what they are going for.


Thanks for the quick response. I had a feeling that typical '88 asking prices weren't in synch with their actual values. Thanks for the confirmation!
IP: Logged
Alblindi
Member
Posts: 20
From: Tennessee, U.S.A.
Registered: Feb 2014


Feedback score: N/A
Leave feedback

Rate this member

Report this Post03-16-2014 10:24 PM Click Here to See the Profile for AlblindiSend a Private Message to AlblindiEdit/Delete MessageReply w/QuoteDirect Link to This Post
"It is nicely equipped with features such as Fiero Formula..."

One word: malarkey. It's a shame people like this have gotten their dirty hands on Fieros. They think they can get away with it, too.

Granted, it does seem to be in pretty good shape. Just too overpriced. You could find a beat up Mera for that much.
IP: Logged
Fformula88
Member
Posts: 7890
From: Buffalo, NY
Registered: Mar 2000


Feedback score: (4)
Leave feedback





Total ratings: 116
Rate this member

Report this Post03-17-2014 10:28 AM Click Here to See the Profile for Fformula88Send a Private Message to Fformula88Edit/Delete MessageReply w/QuoteDirect Link to This Post
A car is worth what someone will pay for it. If you really value a Formula in that condition enough to approach that asking price, then it is worth that much. However, I think you would find it extremely difficult to find a buyer willing to pay anywhere near that if you were to sell it.

I personally would keep looking.
IP: Logged
Patrick
Member
Posts: 31525
From: Vancouver, British Columbia, Canada
Registered: Apr 99


Feedback score: (1)
Leave feedback





Total ratings: 446
Rate this member

Report this Post03-17-2014 11:01 AM Click Here to See the Profile for PatrickClick Here to Email PatrickSend a Private Message to PatrickEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by louielouie2000:

In any event, I'll want to pick up the most pristine, bone stock '88 Formula I can buy. I've seen a few come up over the past several months in conditions similar to this one:

http://www.thompsonsales.co...gfield-MO/2165015533

"Mileage:16,234"


Perhaps I'm overly suspicious, but do these look like keys from a 16,000 mile car?

IP: Logged
carbon
Member
Posts: 4767
From: Eagan, MN
Registered: Apr 2004


Feedback score: (2)
Leave feedback





Total ratings: 133
Rate this member

Report this Post03-17-2014 12:08 PM Click Here to See the Profile for carbonSend a Private Message to carbonEdit/Delete MessageReply w/QuoteDirect Link to This Post
They look like the keys from my 130,000mi. Fiero... Although, the number of times the keys have been inserted in to the cylinder doesn't necessarily correlate with mileage...
IP: Logged
louielouie2000
Junior Member
Posts: 8
From: Austin, TX
Registered: Mar 2014


Feedback score: N/A
Leave feedback

Rate this member

Report this Post03-17-2014 12:55 PM Click Here to See the Profile for louielouie2000Send a Private Message to louielouie2000Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Fformula88:

A car is worth what someone will pay for it. If you really value a Formula in that condition enough to approach that asking price, then it is worth that much. However, I think you would find it extremely difficult to find a buyer willing to pay anywhere near that if you were to sell it.

I personally would keep looking.


I definitely wouldn't pay anywhere near that asking price. That's why I was asking what you experts thought it might realistically be worth. I was thinking more in the $5k-$8k range. This definitely isn't the one for me- the asking price is unrealistic, I'm not ready to buy, and I'm leaning towards a 5-speed. I'm just trying to get together a plan so I can budget myself for a future purchase, hopefully late this year.
IP: Logged
amflyer
Member
Posts: 1389
From: Westminster,Maryland
Registered: May 2006


Feedback score: (4)
Leave feedback

Rate this member

Report this Post03-17-2014 06:00 PM Click Here to See the Profile for amflyerEdit/Delete MessageReply w/QuoteDirect Link to This Post
If I were going to buy an 88 Formula I would get one with a 5 speed in it, no auto trans. I own a Formula 5 speed and it is fun to drive, also the Formula does not always have alot of options on it as say an 88 GT. Still a blast to drive!

------------------
1984 Indy Pace Car\1988 Formula Custom\1986 turbo GT
Founder of Mason Dixon Fiero Owners Group
NYFOC Member

IP: Logged
StreetRod4
Member
Posts: 181
From: NY
Registered: Apr 2011


Feedback score: N/A
Leave feedback

Rate this member

Report this Post03-17-2014 06:36 PM Click Here to See the Profile for StreetRod4Send a Private Message to StreetRod4Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by amflyer:

If I were going to buy an 88 Formula I would get one with a 5 speed in it, no auto trans. I own a Formula 5 speed and it is fun to drive, also the Formula does not always have alot of options on it as say an 88 GT. Still a blast to drive!



I also own a Formula with the 5 speed its a blast to drive, definitely a true drivers car. I picked mine up very clean with 49k miles. Good deals come if you look for em
IP: Logged
Tom Slick
Member
Posts: 4334
From: Alvarado, TX
Registered: May 2003


Feedback score:    (24)
Leave feedback





Total ratings: 67
Rate this member

Report this Post03-18-2014 01:17 PM Click Here to See the Profile for Tom SlickClick Here to Email Tom SlickSend a Private Message to Tom SlickEdit/Delete MessageReply w/QuoteDirect Link to This Post
I have a Formula 5speed that is forsale.
http://s1299.photobucket.co...omtom_/library/T-Top

Thanks
IP: Logged
PFF
System Bot
Fiero84Freak
Member
Posts: 4787
From: AR
Registered: Feb 2002


Feedback score: N/A
Leave feedback





Total ratings: 66
Rate this member

Report this Post03-18-2014 07:30 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
I'm going to throw something out there that I think doesn't get mentioned a lot. Do not let mileage be your overall deterrent towards buying a particular car. I've seen Fiero GTs with 50,000 miles end up in salvage yards and my current GT is nearing 300,000 miles and I'd bet money is in a lot better shape than a good deal of Fieros out there. I say this because often a vehicle's "value" tends to increase or decrease in the monetary sector relevant to mileage on the car. If your ultimate goal is to obtain a incredibly good conditioned stock as possible '88 Formula, you can find them and not completely break your bank. And if you're willing to wait I would even venture to say you can find them with 50,000-75,000 miles on them in incredible shape for -$4,000. Just wait and look.

I have owned an '88 Formula also - a white one. It was one of the most enjoyable Fieros I have owned. It is not only a good 'entry' Fiero, but also one of the most unique; only one year production, GT running gear using all the '88 upgrades, with a base body. They're a blast to drive.
IP: Logged
BrittB
Member
Posts: 453
From: Keizer, OR
Registered: Dec 2013


Feedback score: N/A
Leave feedback

Rate this member

Report this Post03-18-2014 10:02 PM Click Here to See the Profile for BrittBSend a Private Message to BrittBEdit/Delete MessageReply w/QuoteDirect Link to This Post
My 85 SE has the V-6/auto and it runs great with 178k showing on the odometer. Engine and trans weren't taken well care of either but I've brought it back stronger that ever and they still have yet to be rebuilt. That's pretty good in my book!
IP: Logged
Marine1981
Member
Posts: 1364
From: Austin, Texas, USA
Registered: Jan 2011


Feedback score:    (6)
Leave feedback

Rate this member

Report this Post03-18-2014 10:58 PM Click Here to See the Profile for Marine1981Click Here to visit Marine1981's HomePageSend a Private Message to Marine1981Edit/Delete MessageReply w/QuoteDirect Link to This Post
Hey Louie, I sent you a PM. Hope you find something you like soon. I have seen Tom's T-Top in person and it's a nice ride. If I could afford it myself I would pick it up!
IP: Logged
sricka01
Member
Posts: 773
From: Frisco, TX
Registered: Jul 2008


Feedback score: (1)
Leave feedback

Rate this member

Report this Post03-19-2014 12:26 AM Click Here to See the Profile for sricka01Send a Private Message to sricka01Edit/Delete MessageReply w/QuoteDirect Link to This Post
At the end of the day, I would not want a $12k Formula unless it was loaded with accessories that matter. Who wants to crank windows in a pricey Fiero with bare bones? Might as well look for a low mileage GT at that price. I like Formula but not when comparable GT's have amenities. Keep looking, deals are out there.
IP: Logged
louielouie2000
Junior Member
Posts: 8
From: Austin, TX
Registered: Mar 2014


Feedback score: N/A
Leave feedback

Rate this member

Report this Post03-19-2014 08:42 AM Click Here to See the Profile for louielouie2000Send a Private Message to louielouie2000Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by sricka01:

At the end of the day, I would not want a $12k Formula unless it was loaded with accessories that matter. Who wants to crank windows in a pricey Fiero with bare bones? Might as well look for a low mileage GT at that price. I like Formula but not when comparable GT's have amenities. Keep looking, deals are out there.


I definitely wouldn't pay $12k for this car. I saw one recently in identical condition where the asking price was $5k. However, having an original car in pristine shape will be important to me. Speaking of overpriced Formulas, this one takes the cake:

http://www.classifiedads.co...iques-ad72516445.htm

Regarding a GT... I prefer the notchback style. As far as options, as long as it has a sunroof, those don't matter to me. It's a 26 year old car- it's period appropriate for it to be a bit basic. Plus, here in Texas things like leather are torture devices. Crank down windows are just fine too- most of the time it's too hot to cruise with windows down. Whatever Fiero I buy will just be a weekend toy to replace my motorcycle.
IP: Logged
olejoedad
Member
Posts: 14671
From: Clarendon Twp., MI
Registered: May 2004


Feedback score: (5)
Leave feedback





Total ratings: 192
Rate this member

Report this Post03-19-2014 08:53 AM 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
I would disagree, a 7350 mile Formula in new condition is not overpriced at $15,500.
IP: Logged
Gall757
Member
Posts: 10758
From: Holland, MI
Registered: Jun 2010


Feedback score: N/A
Leave feedback





Total ratings: 89
Rate this member

Report this Post03-19-2014 09:20 AM Click Here to See the Profile for Gall757Send a Private Message to Gall757Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by sricka01:

At the end of the day, I would not want a $12k Formula unless it was loaded with accessories that matter. Who wants to crank windows in a pricey Fiero with bare bones? Might as well look for a low mileage GT at that price. I like Formula but not when comparable GT's have amenities. Keep looking, deals are out there.


The whole point of the Formula was 'bare bones'. If you want an electric trunk popper,mirrors, windows, back skratcher..etc etc.. Get a GT!....The value of a Formula is that it did not have all that junk.
IP: Logged
sricka01
Member
Posts: 773
From: Frisco, TX
Registered: Jul 2008


Feedback score: (1)
Leave feedback

Rate this member

Report this Post03-19-2014 10:06 AM Click Here to See the Profile for sricka01Send a Private Message to sricka01Edit/Delete MessageReply w/QuoteDirect Link to This Post
For $12k, then would it not be more economical to buy a low mileage 88 value leader coupe. Stick a 3800 sc, wing, sway bar, and formula decals?
IP: Logged
Gall757
Member
Posts: 10758
From: Holland, MI
Registered: Jun 2010


Feedback score: N/A
Leave feedback





Total ratings: 89
Rate this member

Report this Post03-19-2014 10:12 AM Click Here to See the Profile for Gall757Send a Private Message to Gall757Edit/Delete MessageReply w/QuoteDirect Link to This Post
Good Question: You need to hear from the engine swappers. I am interested in Fieros the way Pontiac built them.
IP: Logged
louielouie2000
Junior Member
Posts: 8
From: Austin, TX
Registered: Mar 2014


Feedback score: N/A
Leave feedback

Rate this member

Report this Post03-19-2014 10:26 AM Click Here to See the Profile for louielouie2000Send a Private Message to louielouie2000Edit/Delete MessageReply w/QuoteDirect Link to This Post
I'm definitely not interested in engine swapping, modding, or upgrading/updating of any kind. I just want a clean, low mileage Formula that's in as close to factory fresh condition as possible. I saw one for sale recently with 32k miles, very clean, and the asking price was $5k. That's more along the lines of what I'll want. All this is premature, anyway- gotta bulk up the Fiero Fund first.
IP: Logged
PFF
System Bot
Rik
Member
Posts: 112
From: Chicago, IL
Registered: Aug 2012


Feedback score: (1)
Leave feedback

Rate this member

Report this Post03-19-2014 11:55 AM Click Here to See the Profile for RikSend a Private Message to RikEdit/Delete MessageReply w/QuoteDirect Link to This Post
While I might be in the minority around here, I like the idea of being as close to the way it rolled off the production line as possible. I spent about a year doing nationwide searches on Craigslist, as well as watching eBay listings, and the "For Sale" area here. What I ended up buying was far from pristine, but it hadn't been "upgraded" by anyone either. The headlight motors needed to be rebuilt, the front side markers were cracked on one side, and missing on the other, the clear coat had failed on the top panels, but the frame was rust free, and the engine was tight. 2 years later, I've got the little stuff cleaned up, and it should be time for paint this summer. For $1200.00, it's been a fun project, and the 88 Formula is a huge improvement over the 84 SE I had before it. Take your time, find a 5-speed, and you'll be happy.
IP: Logged
louielouie2000
Junior Member
Posts: 8
From: Austin, TX
Registered: Mar 2014


Feedback score: N/A
Leave feedback

Rate this member

Report this Post03-23-2014 04:44 PM Click Here to See the Profile for louielouie2000Send a Private Message to louielouie2000Edit/Delete MessageReply w/QuoteDirect Link to This Post
Another pricey Formula... this one is exactly what I'd want, except asking price:

http://classiccars.com/list...in-alvin-texas-77511
IP: Logged
Fiero Thomas
Member
Posts: 4625
From: Round Lake Beach, IL
Registered: Jul 2005


Feedback score:    (170)
Leave feedback





Total ratings: 125
Rate this member

Report this Post03-23-2014 06:28 PM Click Here to See the Profile for Fiero ThomasClick Here to visit Fiero Thomas's HomePageClick Here to Email Fiero ThomasSend a Private Message to Fiero ThomasEdit/Delete MessageReply w/QuoteDirect Link to This Post
I was just having this conversation with another fiero person the other day how the pricing is way off on ebay as well for there asking price.

------------------
1986 Fiero GT 1984 Corvette
2003 PT Dream Cruser #1801 2009 Dodge Challenger SRT8

FieroNews

IP: Logged
Raydar
Member
Posts: 38807
From: Carrollton GA. Out in the... country.
Registered: Oct 1999


Feedback score:    (12)
Leave feedback





Total ratings: 453
Rate this member

Report this Post03-23-2014 07:01 PM Click Here to See the Profile for RaydarClick Here to Email RaydarSend a Private Message to RaydarEdit/Delete MessageReply w/QuoteDirect Link to This Post
Before you spend a bunch of money on a Formula, or any Fiero for that matter, take into account what you want to do with it.
If it's very expensive, you may not want to drive it. Unless it's covered with collector insurance, most insurance companies will only pay "book" in the event of a total loss.

Having said all that... I suspect that you can find a nice Formula for $2-4K. Or a very nice one for another $1-2K.
T-tops will tend to push the price up, because they are relatively uncommon and "more desirable". (I had a T-top Formula. Traded heads-up for a sunroof Formula. YMMV.)

I'm also one of those people who can't leave anything alone. (See sig.)
But I have to have respect for the "purists" who want to keep things stock, because they like their cars to be rolling time capsules.

OTOH, the people who want to keep their cars stock because they think they'll be worth more money when it comes time to sell, are likely to be disappointed, unless their car is seldom driven and kept in a garage under a cover.
But that would be a shame, because these cars are too much fun to NOT drive.

------------------
Raydar
88 Formula IMSA Fastback. 4.9, NVG T550

Praise the Lowered!

[This message has been edited by Raydar (edited 03-23-2014).]

IP: Logged

next newest topic | next oldest topic

All times are ET (US)

Post New Topic  Post A Reply
Hop to:

Contact Us | Back To Main Page

Advertizing on PFF | Fiero Parts Vendors
PFF Merchandise | Fiero Gallery | Ogre's Cave
Real-Time Chat | Fiero Related Auctions on eBay



Copyright (c) 1999, C. Pennock