Crashgordan

need advice 1976 purchase

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(edited)

Here's the (now corrected and updated) story:

 

Uncle has a 1976 4 speed, blue, sunroof, 150K miles

When stationed in Germany he purchased the car new and drove it while in country. 

Apparently after he was stationed in Germany and returned home and went back to college, He then purchased the car here in the US.  

Drove it for many years.

 

Car now sits in a family barn and hasn't been started in probably 20+ years.

Ran when it was parked.

per uncle plugs were pulled and a few ounces of oil were poured into each cylinder.  

 

I'd like to keep this car in the family, he's getting older, is not married and has no children.
 
He thinks it's worth "a lot" and i don't know what that number actually is.  he won't say.
i once heard him say $15K and then more recently heard $5K.  
He's not actively selling it but wants to sell it to me.
 
I have plenty of shop space, have other cars (BMW's), motorcycles and machines and a full rolling tool-chest and do most of my own maintenance.
 
The car is 8 hours from me and i've seen it, my instincts are that after draining and replacing the oil, pulling the plugs, and rotating the engine enough to circulate fresh oil, it might run. 
i'm sure all the rubber seals and gaskets are shot, so i am not unrealistic.
Floors seem solid, trunk seems solid, there is some rust in the usual places.  there's a big stain in the pain where a leak in the barn roof has dripped for years.
I would trailer it home.
 
I don't need another project, but do love the car and story and would be willing to take it on.
 
i have no intent of restoring, only preserving from further decay, and making her road worthy and maybe getting him behind the seat again.  it would thrill him
 
 
ignoring the family story, Where should we start on price??  trying to remain objective here.  
 
i know without more info, it's hard to give advice, but i'm looking here for your thoughts.  
 
I appreciate any perspective from this great group. 
 
 

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Edited by Crashgordan
updated color

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(edited)

If you buy it, inspect/clean the fuel tank and pick up assembly or you may not make it home,

I'll let everyone else tell that it's not a Tii.

Edited by jimk

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As Jim pointed out, it’s not a Tii, and it’s blue under all that dust, not black. (If you look in the database you can see an example of what the color looks like).   So not a highly desirable color (golf, inka, Schwartz).  With the family discount I think you are closer to the 5K vs the 15K.

 

 

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Thanks Jimk.  

If we do this i'll probably trailer it home and get it sorted out here.  

 

also, this particular platform is new to me, so i know nothing about them.  Regarding Tii, i also know nothing about that, except that it was noted on the VIN plate (hence the question and possible confusion) and looking for wisdom, that is all.  

 

Thoughts on fair price?  won't hurt my feelings.  

 

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(edited)
17 minutes ago, bluehills2002 said:

As Jim pointed out, it’s not a Tii, and it’s blue under all that dust, not black. (If you look in the database you can see an example of what the color looks like).   So not a highly desirable color (golf, inka, Schwartz).  With the family discount I think you are closer to the 5K vs the 15K.

 

 

 

thank you for your thoughts.

(and i've updated the original post to reflect these color/model clarification) 

 

ignoring the family component, is $5K too much. 

what's it worth based on the info i have.

i won't buy it just to save, it still has to be a fair deal.

 

 

Edited by Crashgordan

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I think that around $5K is the current retail value for cars that need work or aren't running but are otherwise complete.  Here are some examples...

 

https://losangeles.craigslist.org/wst/cto/d/seal-beach-bmw-2002-e/6788151877.html

 

https://losangeles.craigslist.org/wst/cto/d/prescott-valley-1971-bmw-510/6802110527.html

 

The friends and family pricing should fall between $3K and $5K IMHO.

 

Mark92131

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35 minutes ago, Mark92131 said:

I think that around $5K is the current retail value for cars that need work or aren't running but are otherwise complete.  Here are some examples...

 

https://losangeles.craigslist.org/wst/cto/d/seal-beach-bmw-2002-e/6788151877.html

 

https://losangeles.craigslist.org/wst/cto/d/prescott-valley-1971-bmw-510/6802110527.html

 

The friends and family pricing should fall between $3K and $5K IMHO.

 

Mark92131

 

That's great!  and thank you for commenting!

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Yup, 3-5k is in line with current markets.

 

And the plates under the hood will say 2002/2002tii just to cover all bases.

 

BIGREDFLAG- if you are in California, you will have to smog a '76, and that is both difficult

and a big hit on resale value.

 

Good luck- it looks like a decent candidate.

 

t

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Its a nice color and rare by the paint code production chart. But as others have stated, here in LaLa land, 76' just doesn't carry much value because of smog requirements. I'm trying to imagine if it was a 74' for sale, maybe fetch $5K-7K or more? Has some nicely preserved elements, radio, dash, vinyl, kidney and pretty darn white washer bottle. Since you don't plan to "restore", I'd try to make a deal.

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Id say $1000 because that's what I bought mine for in almost identical condition, but that was about ten years ago now... In my opinion, you're talking 2000-2500 bucks, I'm also cheap and understand what needs to be done to get it on the road reliability. Running it's a 6000-7000 car. Mind you, this is all in the Seattle market, your market may vary. And again, I'm a cheap ass.... Looks like a good project though! Barn finds are my favorite to work on as they have the lowest possibility of being F'd up by a previous owner. Good luck!

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I bought a 76 blue, with an ok exterior and rough interior for 5k just a few months ago. It ran well, and had new tires. the inside has recaros that are ducktaped and the thing was mega dirty. It cleaned up well. the back seat is dried and cracked and not useable. A few rust spots in the pan and couple places under wheel wells that need attention. also there's a bad patch on the drivers side shock tower. 

 

all in all a good "cheap" project that I can drive and goof around with. I am pleased with the price. All that detail to try to help you measure by. 

 

Its cool that he bought it over seas and brought it home. sometimes cars are worth more just cause who or where they came from. 

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any o2 that is complete & not a rust bucket is worth $5k in my opinion

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14 minutes ago, esty said:

any o2 that is complete & not a rust bucket is worth $5k in my opinion

 

 

Yep,

 

Tho the rust around the turn signal housings on this one leads me to believe the rockers are toast.

 

Hope I'm  wrong :)

 

Cheers,

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I think $1000 is an insult to a family member, hell, so is $2500. You want him to feel just a bit warm and fuzzy about handing it off to you.

 

It is an emotional thing regardless of the price, and if he doesn't feel good about the price, it probably is worth more to him in memories.....like the car in the background of your photos......and you don't want to be the one who "screwed" him over the price.

 

Discuss the market to him in a genteel way and if he agrees, he will come to the same price as you, if not, then respectfully walk away. You will spend many thousands getting it to be roadworthy and chasing gremlins that are bound to come your way.

 

Whole brake system

Wheel Bearings

ALL suspension and hose rubber parts

fuel system

cooling system

Heater valve

clutch?

guibo

and on and on.

 

As an example, years ago, I bought an E30 M3 with only 19,000 miles on it over 15 years. I spent over $5000 IN PARTS just replacing the rubber bits and servicing the different systems so I felt confident in driving the car without concern. It is the same with a 150,000 mile car.

 

Who knows, if he finds out how much it will cost to get it running, he my just give you the car to see it going again. In that case, you better loan it back to him for a drive.....

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