My '91 - is it time to sell it and move on?

[Glen C.]

Yesterday the snow had melted so I thought I'd take the car out. She wouldn't crank and has developed a terrible grinding noise. I came back in disgusted and started adding up my total expenses and began to wonder if it may be time to sell and move on to a C3.

I purchased the car knowing it was a high mileage (204K) car but the transmission had been rebuilt along with the rear end and the seller seemed honest. I was looking for a driver and figured it wouldn't take much to get it back to curb appeal standards.

The point I'm at today is that including the purchase price, a transmission rebuild (whoever did the rebuild for the seller really botched the job), new tires, battery, water pump and other misc. items I'm into the car for $8800.

Based on what I now know I'm going to need at this point is another $5800 to finish the car and I'm sure there are some skeletons waiting to jump out of the closet.

Based on the prices I'm seeing for cars with much lower mileage and it better mechanical condition I'm not sure it's wise to invest much more in this car. I'm afraid my first Corvette may have been an expensive education.

If I'm going to end up with $15k in a car I'd much rather have it invested in a 70's model.

Any thoughts would be appreciated.

Thanks,

Glen

[Tom H.]

Re: My '91 - is it time to sell it and move on?

Bail out !!!!!!!!!!

[John D.]

Re: My '91 - is it time to sell it and move on?

High mileage c4's can be real money pits. If you need to replace the fuel injectors, you are looking at $1500. - $1800.. Many other common repairs are of similar cost. I recommend you get out.

[Bob H.]

Re: My '91 - is it time to sell it and move on?

I agree about bailing out. There are plenty of low mileage cars that have been babied available at low cost

[Paul J.]

Re: My '91 - is it time to sell it and move on?

Glen, you're quite the optimist to buy anything with 204k miles on it and no substancial restoration. Sure, there are some vehicles that are still dependable at this mileage but Corvettes are usually rode pretty hard. I recall my '78. I loved that car but it was a money pit. One problem after the other. On the trip to Cape May I had to crawl under it every time we stopped and hit the starter with the lug wrench to knock the bendix loose so it would start. After we got there the left front caliper started leaking, making hard braking an adventure. When we got home I traded it for a Toyota Starlet, but I still loved that car.

It's time to lick your wounds and get out.

Paul

[Paul H.]

Re: My '91 - is it time to sell it and move on?

I would bail. I like nice C4's, but high mileage examples are not worth much right now and are very complex and expensive to fix. You would be throwing money out the window. Early C3's, 68-72, are great cars and alot simpler to work on. Just watch out for bad frames and birdcages. It always makes more sense to spend a little more money up front and buy a car that has already been sorted out and ready to enjoy. Good luck.

[Mark R.]

Re: My '91 - is it time to sell it and move on?

Glen:

It's absolutely time to leave the '91 behind and move on to a C 3. If you can find a 68-72 in your price range, go for it. The early C 3s are relatively mechanically simple, fun to drive and are rapidly appreciating in value.

Good Luck with your search.

Mark

[Joe L.]

Re: My '91 - is it time to sell it and move on?

Yesterday the snow had melted so I thought I'd take the car out. She wouldn't crank and has developed a terrible grinding noise. I came back in disgusted and started adding up my total expenses and began to wonder if it may be time to sell and move on to a C3.

I purchased the car knowing it was a high mileage (204K) car but the transmission had been rebuilt along with the rear end and the seller seemed honest. I was looking for a driver and figured it wouldn't take much to get it back to curb appeal standards.

The point I'm at today is that including the purchase price, a transmission rebuild (whoever did the rebuild for the seller really botched the job), new tires, battery, water pump and other misc. items I'm into the car for $8800.

Based on what I now know I'm going to need at this point is another $5800 to finish the car and I'm sure there are some skeletons waiting to jump out of the closet.

Based on the prices I'm seeing for cars with much lower mileage and it better mechanical condition I'm not sure it's wise to invest much more in this car. I'm afraid my first Corvette may have been an expensive education.

If I'm going to end up with $15k in a car I'd much rather have it invested in a 70's model.

Any thoughts would be appreciated.

Thanks,

Glen

Glen------


I always hate to see any Corvette "given up on" but, realistically, there may come a time when that needs to occur.

I will add this as I have said many times before: C4 Corvettes are the most complicated and parts content-rich Corvettes ever built or that likely ever will be built. A large percentage of the parts for them have already been discontinued by GM, and I see little hope of most of these ever becoming available in the reproduction market. The major source for parts for these cars is going to be used ("some must die so that others can live"). Even then, there are many life-limited components for which having to buy used is a real "crap shoot".

[Brian M.]

Re: My '91 - is it time to sell it and move on?

Run Forest Run.

[Wayne B.]

Re: My '91 - is it time to sell it and move on?

I got my 84 to 322k...in $2000 increments. At over 200k the voice of experience would say sell it for whatever you can get, don't waste weeks on potential buyers leaving just to "negotiate" an extra hundred or two that you most likely won't get, just GET OUT, it's worth it in peace of mind and lets you get on to another that's a better value.

[Terry D.]

Re: My '91 - is it time to sell it and move on?

I could of sworn that I was logged on to the NCRS website. And I thought it was about the restoration of Corvettes. What I'm hearing is "pass the trouble on to the next person". If you bought a Corvette with the intention of driving it for a few years, trouble free, and than unload it for a profit you are sadly mistaken. I don't know of a hobby that doesn't cost more than it's actually worth. Restoring anything is usually a money pit, that you enjoy doing the work and are pleased with the end result. If all you want to do is drive a sports car I think you are in the wrong club. That said, let's suppose you bail on this car, buy another, do you really think it will be trouble free and you won't end up with more money than it's worth? I gave up keeping track how much my hobbies cost many years ago. My suggestion is to fix the car, drive it, enjoy it, and quite worrying about the small stuff.
Just my old 2 cents
Terry

[Wayne B.]

Re: My '91 - is it time to sell it and move on?

Terry, Just my opinion but a lot more fun (and easier) to work on a chrome bumper car than them new fangled computerized ones.

[Wayne W.]

Re: My '91 - is it time to sell it and move on?

High mileage c4's can be real money pits. If you need to replace the fuel injectors, you are looking at $1500. - $1800.. Many other common repairs are of similar cost. I recommend you get out.

Someone is hosing you here. Injectors, rebuilt bosh or original type that will take alcohol gas, can be had for under $300. The labor is not $1200+.

I agree with the others. This is going to be a big problem with these cars. I am already seeing two or three sitting in back yards for parts. It might be the thing that finally kicks the late rubber bumper C3 pricing up.

[Terry D.]

Re: My '91 - is it time to sell it and move on?

I agree but it is still no excuse to bail. Unless he spends a lot more on a restored car he could wind up with the same problems he has now. Some one has to save these cars or there won't be any left for the next generations of drivers.

[Robert R.]

Re: My '91 - is it time to sell it and move on?

Terry,
Since this organization is here to promote the hobby of restoring and enjoying these cars, the frustations that Glen experienced probably hit that point where its not fun for him any more on that particular car.

We each enjoy these cars for different reasons, and sometimes time and money dictate how the cars can end up either as the restored example of the marque or the "parts donater" for another like model.
And even that is all part of the process. How many stories have you heard of people restoring a car that started out as a bare body and chassis. That WAS a complete, brand new car at one time, and had already gone through quite an ordeal to become that person's start point.
The advice given from a lot of the prevoius posts just reflects personal experience wisdom so that he can justify his want for another challenge.

Heck who knows, if that '91 does become a parts car and 20 years from now, someone sees it and decides that he (or she) wants to rebuild it like it "...just rolled off the assembly line."

Bob