What's a 1975 1.8L project worth? Options

[andreic]

Someone in my general area is selling a 1975 project. I haven't yet looked at it, but the owner says the motor has been completely rebuilt by a local shop (no details provided), possibly up to 1.9L. The L-Jet FI is included but no guarantees on its condition. The engine and transmission are out of the car, which has been recently repainted by a local shop (probably a decent driver quality paint job, nothing special).

The seller says the car came from Oregon and has no rust. I have not yet independently confirmed this, as the car is more than 3 hours away from me. If I were to go take a look at it this would be the first thing to check. The interior is in rough condition and will need to be replaced or redone somehow. (For example the dash has a split in it.)

The seller asks $5000 for this project. Is that high, low, etc.? What would it be worth?

I apologize if this is the wrong forum for asking this question. I am happy to move it to another category if people suggest that I should do it.

[MikeInMunich]

Even if the engine is rebuilt and he's got some proof of it and there is no significant rust AND the paint isn't bad, then 5k would still be too high a price as a starting point. (Some may note the edit I've made to this first sentence!) The L-Jet may very well have issues and finding / fixing them yourself can be challenging and finding a technician who's able and competent can be the same, not to mention pretty expensive. A Weber set up will run you about a $1,000, without installation and tuning. Perhaps more, IDK.

It may not be as easy as you may expect to determine if there are any significant rust issues, but if the jack holes and round jack mounts underneath are solid, especially on the passenger's side, and the doors close nicely, then whatever rust issues it may have are likely not too serious. Check the gaps between the rear of the door and the body. Ask him to use the stock jack to lift the car on the passenger's side and see if that gap increases at all. If it does, the car has a problem in the "hell hole" and will require welding and parts which can be acquired from Restoration Design. That alone would also cost a significant sum to repair. Look for signs of any accidents, especially in the front trunk. No matter what, you need to expect to invest at least 5k to get it together and the interior looking good but that doesn't mean the car would be worth that much at that point and that's just the beginning! There are numerous other things the car will certainly need, each of which will cost, on the average around 100-200 bucks apiece. Brake lines, fuel lines, gas tank restoration, electrical issues, clutch cable, brakes, accelerator cable, ignition switch, Etc. etc. etc. Be prepared! A car like this that's not been cared for will need all these things and more before it's what anybody would really want it to be. The scope of the project may, thus, be much larger than you've expected it to be up until this point. Also, the 1975s aren't the most desirable models. The bumpers are heavy and, some say, ugly, and once you've back-dated the bumpers (assuming you choose to do that) and taken the L-Jet out for Webers, your car isn't original any more and has then lost any real "collectible" status. The 1973 2.0 appearance group and the LE cars are the most desirable and fetch the best prices.

You need to expect to put significant money and work into any project like this. If you don't have another 5k ready, then don't expect the project to be anywhere near completed until you do, and that's a very conservative estimate. There is low demand for something like this so with the amount of investment and risk involved only about $2,000-$3,000 can be considered a fair or at least. Somewhat good price, and that only if he's got receipts and specs on the engine build.

Was it resprayed the original color?

What wheels does it have on it?

Photos would be helpful! (IMG:style_emoticons/default/popcorn[1].gif)

M.i.M.