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opinions on ultra low mileage formula, original owner by cam-a-lot
Started on: 11-09-2019 07:02 AM
Replies: 48 (1301 views)
Last post by: David Hambleton on 04-21-2021 06:49 PM
cam-a-lot
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Report this Post11-09-2019 07:02 AM Click Here to See the Profile for cam-a-lotSend a Private Message to cam-a-lotEdit/Delete MessageReply w/QuoteDirect Link to This Post
Hello

There is a silver, all original 5 speed formula near me that I am contemplating buying. The owner is an 85 year old gentleman who has owned it since new. He is a car guy, has raced shelby mustangs and even cobras in the 60"s, has some amazing stories and pictures of that era... It is not advertised anymore- he may try again in the summer.

This was his occasional toy, flawless condition, all original down to mint GT+4 tires, original brake pads, belts, even spark plugs. No winters at all (confirmed by checking the triunk and underneath. Some very minor surface rust in a few spots that I can easily remove- caused by regular moisture in the air, not salt. Interior is grey, looks like brand new. Car has been stored indoors since new, absolutely no flaws in the paint, no warpage of the interior at all.

Car is a 5 speed with AC and sunroof, but manual windows unfortunately

I don't really need or want another Fiero- I can only drive one at a time, and don't really have additional indoor storage space. But with that said, it i hard to walk away from such a "barn find" .....retired original owner, well maintained and accident free car, has only 19,000 km on it, and the mileage is real.

I don't really care for the color, and prefer the GT over the notchie personally.

Could probably pick up the car for 7 or 8K CAD and it needs absolutely nothing to drive- though it should get brake fluid and clutch fluid changed... Fires up and purrs like a kitten

I may just buy it and change all the fluids and sell it within the community to make sure it goes to the right owner and gets preserved. What I don't want to see happen is someone buys it for a daily driver and kills the car, or some young guy buys it and beats on it or drives it in salt and destroys it. At this price, I can likely turn a profit too if I sell it to the right buyer, (not my main motivation, but a nice bonus). I hate trying to post pictures here, but if you have more patience than I do, post an email address in a PM, I will send you pictures, and you can post for me.

What would you do? Should I Buy it?

[This message has been edited by cam-a-lot (edited 11-09-2019).]

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Report this Post11-09-2019 08:13 AM Click Here to See the Profile for wftbClick Here to Email wftbSend a Private Message to wftbEdit/Delete MessageReply w/QuoteDirect Link to This Post
If you could grab it for 4k and sell it for 7 it would be a good deal. But if you pay 8 you need to get 11k for it and that is up in the stratosphere of Fiero prices. As far as being choosy on who you sell it too, you will find that you end up holding your nose and selling it to whoever has the cash. Hard to find a retired guy that can afford an old summer toy as well as have a place to store it. Younger people will almost always have to use it as a real car, although it is worth too much money so that might eliminate most of them.

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olejoedad
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Report this Post11-09-2019 09:44 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
There were not many silver Formulas, partial year color, got dropped when they added yellow.
Snag it and keep it, sell something to make room for it.
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exc911ence
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Report this Post11-09-2019 11:32 AM Click Here to See the Profile for exc911enceClick Here to Email exc911enceSend a Private Message to exc911enceEdit/Delete MessageReply w/QuoteDirect Link to This Post
A low-mile one owner car like that would fetch good money if you listed it on Bring A Trailer. A 23K mile 88 GT t-top 5-speed in white (on grey cloth) just sold for $9300 USD so there's money to be made on a Formula 5-speed.

Heck, I might even trade you my minty red 88 GT 5-speed for it! Feel like driving it out to Victoria?

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Report this Post11-09-2019 11:46 AM Click Here to See the Profile for cvxjetClick Here to Email cvxjetSend a Private Message to cvxjetEdit/Delete MessageReply w/QuoteDirect Link to This Post
Just so everyone has a grasp of the money situation; $8000 CAD = $5900 USD.....

That is a heck of a find as far as condition and being an 88 Formula- basically the holy grail of all Fieros- If it was signed by Hulki it would be worth more.......
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olejoedad
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Report this Post11-09-2019 12:04 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
Only 261 silver Formulas.....
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formulaWA
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Report this Post11-09-2019 01:47 PM Click Here to See the Profile for formulaWASend a Private Message to formulaWAEdit/Delete MessageReply w/QuoteDirect Link to This Post
Or u could buy my Formula with 1900 original miles. Been trying to sell it for years
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Patrick
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Report this Post11-09-2019 02:33 PM 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 cam-a-lot:

...flawless condition, all original down to mint GT+4 tires

...it needs absolutely nothing to drive- though it should get brake fluid and clutch fluid changed



You do not want to be driving on 31 year old tires. A few years ago, This was my experience driving on original tires with an '88.

If you wish to send a few images of this Formula to the email address in my Profile, I'll post them.

[This message has been edited by Patrick (edited 11-09-2019).]

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fieroguru
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Report this Post11-09-2019 04:35 PM Click Here to See the Profile for fieroguruSend a Private Message to fieroguruEdit/Delete MessageReply w/QuoteDirect Link to This Post
A low mileage 88 Formula in silver is probably one of the most rare versions. Add to the fact that it was an export version, makes it even rarer.

It is definitely worth buying and holding onto until the right buyer comes along.
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cam-a-lot
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Report this Post11-09-2019 05:06 PM Click Here to See the Profile for cam-a-lotSend a Private Message to cam-a-lotEdit/Delete MessageReply w/QuoteDirect Link to This Post
I am leaning toward buying it, especially since the older gentleman even would let me store it there in the winter so I have time to figure out what to do with it. It is literally like a brand new car.. time capsule. I don't think it has a scratch or a stone chip on it.
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Report this Post11-09-2019 05:48 PM Click Here to See the Profile for exc911enceClick Here to Email exc911enceSend a Private Message to exc911enceEdit/Delete MessageReply w/QuoteDirect Link to This Post
Here are some pictures forwarded to me to post up. Car looks amazing.







Wheel centres always blank on Formulas? My 88 GT has the Fiero logo printed on the wheel centres.
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Report this Post11-09-2019 06:59 PM Click Here to See the Profile for cvxjetClick Here to Email cvxjetSend a Private Message to cvxjetEdit/Delete MessageReply w/QuoteDirect Link to This Post
I second the "do not drive on 30 year old tires" statement...I actually had some 7 year old tires on my van and they stuck like teflon.........

And Patrick- Somehow I missed the "Most embarrassing thing you did in a Fiero" thread, but I think I have the winner- Thank gosh it is not myine....

Foreign magazine test of a Fiero, and the guy complained about the parking brake handle forming an "obstacle to getting in and out of the car" ( I understand that it may be a bit difficult to figure out, but we are talking about a automotive journalist who tests multiple cars every month- he should have been curious about how it worked.....(My handle actually would drop once set when it was new)

[This message has been edited by cvxjet (edited 11-09-2019).]

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Report this Post11-09-2019 07:47 PM Click Here to See the Profile for pmbrunelleClick Here to Email pmbrunelleSend a Private Message to pmbrunelleEdit/Delete MessageReply w/QuoteDirect Link to This Post
Why don't you just post the kijiji ad in The Mall, or perhaps tell some friends about it?

If you don't want the Fiero, inserting yourself in the chain of ownership seems like a needless complication.

If the current seller can't find a suitable buyer, how are you going to do a better job of finding a good buyer?
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cam-a-lot
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Report this Post11-09-2019 09:25 PM Click Here to See the Profile for cam-a-lotSend a Private Message to cam-a-lotEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by pmbrunelle:

Why don't you just post the kijiji ad in The Mall, or perhaps tell some friends about it?

If you don't want the Fiero, inserting yourself in the chain of ownership seems like a needless complication.

If the current seller can't find a suitable buyer, how are you going to do a better job of finding a good buyer?


The seller pulled the ad and is thinking of waiting until next summer to sell it. However, I am pretty sure I could buy it I decide to. I was looking for opinions on whether or not it would make sense to get this car. Will have to sleep on it a bit. Thanks to everyone who chimed in.


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Report this Post11-09-2019 09:58 PM Click Here to See the Profile for wftbClick Here to Email wftbSend a Private Message to wftbEdit/Delete MessageReply w/QuoteDirect Link to This Post
That car is really nice. Thanks for the pics.
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Report this Post11-09-2019 11:23 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
All '88 GT's & Formulas had blank center caps. Only the '86-'87 GT came with the logo, so of your '88 center cap has the Fiero logo it was added after the fact.

I used to have a silver Formula just like this one about 15 years ago.....only had 282 miles on it. It is the only Fiero I truly regret selling. You should buy it!
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Report this Post11-10-2019 08:01 AM Click Here to See the Profile for CoolBlue87GTClick Here to Email CoolBlue87GTSend a Private Message to CoolBlue87GTEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by olejoedad:

Only 261 silver Formulas.....


Ah, no wonder I've never seen one in that color, looks nice.

cam-a-lot, good luck with your decision.
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Report this Post11-10-2019 09:35 AM Click Here to See the Profile for ToddsterClick Here to Email ToddsterSend a Private Message to ToddsterEdit/Delete MessageReply w/QuoteDirect Link to This Post
I owned a silver Formula once, found it on a used car lot and got it for a song. It was the only Silver formula I have ever SEEN until now. They are very uncommon. Considering the originality and rareness, it really needs to be owned by someone who will continue to preserve it. If you have the space to park it out of the weather and would like something special to bring to local events occassionally, grab it.

Otherwise, give the guy's contact info to someone who can look after it
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Report this Post11-10-2019 10:00 AM Click Here to See the Profile for Thunderstruck GTSend a Private Message to Thunderstruck GTEdit/Delete MessageReply w/QuoteDirect Link to This Post
Yes... Those tires are unsafe

28 year old tires are much better. Pay no mind to the fear mongers.

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cam-a-lot
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Report this Post11-10-2019 11:10 AM Click Here to See the Profile for cam-a-lotSend a Private Message to cam-a-lotEdit/Delete MessageReply w/QuoteDirect Link to This Post
Thanks everyone for your input

The owner has decided to hang on to it for the winter and think about it again around April or May

I will stay in touch with him. He promised to contact me before trying to sell it again

If I decide not to buy it , I will put together an ad for PFF in the mall and assist with the sale for any remote buyers. (Pictures, videos etc). The owner is not computer savvy so I will help him. If he decides to post it again

If I help a remote buyer with this , all I ask for is to make a $100 donation to cliff

Thanks again guys for the input

Peter
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Report this Post11-10-2019 11:28 AM Click Here to See the Profile for Thunderstruck GTSend a Private Message to Thunderstruck GTEdit/Delete MessageReply w/QuoteDirect Link to This Post
Too bad.

It would be nice to see a car like that in the hands of someone that would keep it "original" and not change or alter a thing.

They're only original once.
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Report this Post11-10-2019 12:38 PM Click Here to See the Profile for cam-a-lotSend a Private Message to cam-a-lotEdit/Delete MessageReply w/QuoteDirect Link to This Post
If I do buy it, it will be a trailer queen and kept all original and rarely driven except on sunny Sunday afternoons

I already have a very nice 88 GT that is swapped that I get to drive and enjoy and not worry about mileage or originality, so it is a different experience than preserving and maintaining a time capsule like this

My bigger issue is storage, as there is no way I would keep this car outside. For now he took it off the market since there is salt on the roads

Will keep you guys posted with any new development on it

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exc911ence
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Report this Post11-10-2019 04:13 PM Click Here to See the Profile for exc911enceClick Here to Email exc911enceSend a Private Message to exc911enceEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by mrfiero:

All '88 GT's & Formulas had blank center caps. Only the '86-'87 GT came with the logo, so of your '88 center cap has the Fiero logo it was added after the fact.



Interesting, appreciate the info! I quite like the logo on the centre caps so I'm going to leave them.
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Report this Post11-10-2019 05:06 PM 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 Thunderstruck GT:

28 year old tires are much better. Pay no mind to the fear mongers.


Greg, you are just kidding around... right?
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P 88 GT
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Report this Post04-19-2020 01:11 PM Click Here to See the Profile for P 88 GTClick Here to Email P 88 GTSend a Private Message to P 88 GTEdit/Delete MessageReply w/QuoteDirect Link to This Post
Peter- I must have seen car just after you- bought it Nov 16- Picked up April 16. Saw your post recently. To WTFB I'm the retired guy that could
afford a old summer toy with a place to store. Drove home 200 km on 33 year old tires- plan to replace. I bought my first new fiero in 1986
and have had 10 since-most I had at once was 6. When I bought this one I sold a US formula auto with 50000 miles. This one was so good
I had to have. It has a good home and will be kept original and only driven occasionally in nice weather.
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cam-a-lot
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Report this Post04-19-2020 06:26 PM Click Here to See the Profile for cam-a-lotSend a Private Message to cam-a-lotEdit/Delete MessageReply w/QuoteDirect Link to This Post
Great to see that it went to a good home. Sent you a PM. You probably noticed, but the brake and clutch fluid seem original so they are more than overdue for a flush... Good luck with the car, and I hope you make it out to some of the Ontario cruises this summer!
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Report this Post04-20-2020 08:07 AM Click Here to See the Profile for P 88 GTClick Here to Email P 88 GTSend a Private Message to P 88 GTEdit/Delete MessageReply w/QuoteDirect Link to This Post
Plan to flush rad and get brake flush-may do trans later. Car looks even better than did in garage. Never got PM
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cam-a-lot
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Report this Post04-20-2020 08:36 AM Click Here to See the Profile for cam-a-lotSend a Private Message to cam-a-lotEdit/Delete MessageReply w/QuoteDirect Link to This Post
Not sure why PM didn't show up- but don't forget the clutch fluid too. Probably more urgent than trans fluid.

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Report this Post04-21-2020 08:42 AM Click Here to See the Profile for sledcaddieSend a Private Message to sledcaddieEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by P 88 GT:

Peter- I must have seen car just after you- bought it Nov 16- Picked up April 16. Saw your post recently. To WTFB I'm the retired guy that could
afford a old summer toy with a place to store. Drove home 200 km on 33 year old tires- plan to replace. I bought my first new fiero in 1986
and have had 10 since-most I had at once was 6. When I bought this one I sold a US formula auto with 50000 miles. This one was so good
I had to have. It has a good home and will be kept original and only driven occasionally in nice weather.


Just curious what you paid for it? I've noticed a couple of different 88 GT's sell recently for $15K and another for over $20K, both super low mileage.
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Report this Post04-21-2020 12:00 PM Click Here to See the Profile for sourmashClick Here to Email sourmashSend a Private Message to sourmashEdit/Delete MessageReply w/QuoteDirect Link to This Post
There are a lot smarter buys than that for that money.
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Report this Post04-21-2020 03:10 PM Click Here to See the Profile for P 88 GTClick Here to Email P 88 GTSend a Private Message to P 88 GTEdit/Delete MessageReply w/QuoteDirect Link to This Post
Works out to $ 6000 US
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Report this Post04-21-2020 04:34 PM Click Here to See the Profile for sourmashClick Here to Email sourmashSend a Private Message to sourmashEdit/Delete MessageReply w/QuoteDirect Link to This Post
$15,000 and 20,000 can't be 6000 USD.
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Report this Post04-22-2020 09:46 AM Click Here to See the Profile for sledcaddieSend a Private Message to sledcaddieEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by sourmash:

$15,000 and 20,000 can't be 6000 USD.


No, really. US dollars. One on EBay sold for around $20,500. It was a metallic red 88, all options, 5 speed, with less than 1,000 miles on it. This was just in the last month.
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Report this Post04-22-2020 10:04 AM Click Here to See the Profile for wftbClick Here to Email wftbSend a Private Message to wftbEdit/Delete MessageReply w/QuoteDirect Link to This Post
A car is worth what you can get for it. In this case he paid about 8100.00 CDN for this Formula. A good deal for a low mileage all original car. If you convert 1988 dollars to todays dollars, someone that has sold an original 88 GT for 20,000.00 didn't even get what he paid for it new.

------------------
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Report this Post04-22-2020 08:09 PM Click Here to See the Profile for sourmashClick Here to Email sourmashSend a Private Message to sourmashEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by sledcaddie:

No, really. US dollars. One on EBay sold for around $20,500. It was a metallic red 88, all options, 5 speed, with less than 1,000 miles on it. This was just in the last month.


Holy cats, that's wildness! Everybody has their desires, and or got a settlement or inheritance.
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Report this Post04-23-2020 02:15 AM Click Here to See the Profile for cam-a-lotSend a Private Message to cam-a-lotEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by wftb:

A car is worth what you can get for it. In this case he paid about 8100.00 CDN for this Formula. A good deal for a low mileage all original car. If you convert 1988 dollars to todays dollars, someone that has sold an original 88 GT for 20,000.00 didn't even get what he paid for it new.



I totally agree.... I am always baffled when I see people store Fieros as some kind of investment... makes no sense. If you had invested $16-$20k even in some very low risk investments back in 1988 , it would have easily tripled by now.... instead of celebrating getting the same money (after inflation) 32 years later, plus all the hassles of storage and maintenance. These are fun cars, kind of cool, but not an investment...


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Report this Post04-23-2020 05:24 AM Click Here to See the Profile for sourmashClick Here to Email sourmashSend a Private Message to sourmashEdit/Delete MessageReply w/QuoteDirect Link to This Post
And possibly the guy who invested in other things that paid a higher return took a payout to buy the car, heh-heh.

Sometimes people do it for the fun or love of having it. I collect things that cost me money every month, but that's because I go too far and don't treat a hobby like an investment.

[This message has been edited by sourmash (edited 04-23-2020).]

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Report this Post04-23-2020 09:49 AM Click Here to See the Profile for sledcaddieSend a Private Message to sledcaddieEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by sledcaddie:


No, really. US dollars. One on EBay sold for around $20,500. It was a metallic red 88, all options, 5 speed, with less than 1,000 miles on it. This was just in the last month.


Another one, from the Atlanta area, had 45K miles, 5 speed. It sold to the first guy who called (I was the 2nd) for $14,500 US dollars. I continually monitor the Fiero market, and the prices for the 88 GT's and Formula's, with 5 speeds, are definitely on the rise.
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Report this Post04-23-2020 06:51 PM Click Here to See the Profile for formulaWASend a Private Message to formulaWAEdit/Delete MessageReply w/QuoteDirect Link to This Post
And here is a 2000 mile automatic Formula up for $10,500.



Prices on these are definitely not going any wheres

[This message has been edited by formulaWA (edited 04-23-2020).]

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Report this Post04-24-2020 09:09 AM Click Here to See the Profile for sledcaddieSend a Private Message to sledcaddieEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by formulaWA:

And here is a 2000 mile automatic Formula up for $10,500.



Prices on these are definitely not going any wheres



You mean "these" as automatics?
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