Buying a "work-needed" 951
04-03-2012, 03:32 PM
#31
WRONGLY ACCUSED!
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There are a lot of good posts here but I think they are all being too conservative. So let me put it another way. If you get the car FOR FREE it may cost you more to fix it then to buy something that actually runs. Just say no to a cheap car and wait until you can afford it unless you want the whole "it's not the road it's the journey" type of experience. For reference go read "The Gold Plated Porsche" which I recommend to anyone who loves cars and working on cars.
04-03-2012, 03:35 PM
#32
There are a lot of good posts here but I think they are all being too conservative. So let me put it another way. If you get the car FOR FREE it may cost you more to fix it then to buy something that actually runs. Just say no to a cheap car and wait until you can afford it unless you want the whole "it's not the road it's the journey" type of experience. For reference go read "The Gold Plated Porsche" which I recommend to anyone who loves cars and working on cars.
04-03-2012, 03:47 PM
#33
Don't mean to hijack the thread, but here is an example.
I picked this 951 up years ago for $1,500 (back when the prices for good ones were pretty high) The goal was an LS powered track rat so I planned on tossing out 90% of the stuff that would have put a premium on the price.
Here is the short list of what was wrong with the car.
-broken timing belt due to seized water pump, bent valve, bad clutch, bad torque tube, trashed interior, bad ball joints, bad paint, etc.
Once I dove into the car I realize there was about $4k of performance parts buried in it that the PO did not know about. So I figured I would put it back together and see how it ran.
It ran like a raped ape, so I figured I would make it a track rat as is and wait for the motor to blow. Thing was so fun to drive that we made it into a street car so we did not have to wait for track time to use it.
Things I upgraded that I would have anyway, lower ball joints, HT Starter, rebuilt TT,plugs, wires, hoses, 1 valve from a use head, Cup clutch was already in it so I just fixed the pp with a KEP one, cleaned up the interior and had some cheap paint tossed on it. It was so much fun to drive that I made it a street car too.
This is what the car looks like today for a total investments of about $4500
Not a concourse restoration by any means, but to take what most would consider a parts car and made it a nicer car than many have for less money because I started with a cheaper starting starting point!
I picked this 951 up years ago for $1,500 (back when the prices for good ones were pretty high) The goal was an LS powered track rat so I planned on tossing out 90% of the stuff that would have put a premium on the price.
Here is the short list of what was wrong with the car.
-broken timing belt due to seized water pump, bent valve, bad clutch, bad torque tube, trashed interior, bad ball joints, bad paint, etc.
Once I dove into the car I realize there was about $4k of performance parts buried in it that the PO did not know about. So I figured I would put it back together and see how it ran.
It ran like a raped ape, so I figured I would make it a track rat as is and wait for the motor to blow. Thing was so fun to drive that we made it into a street car so we did not have to wait for track time to use it.
Things I upgraded that I would have anyway, lower ball joints, HT Starter, rebuilt TT,plugs, wires, hoses, 1 valve from a use head, Cup clutch was already in it so I just fixed the pp with a KEP one, cleaned up the interior and had some cheap paint tossed on it. It was so much fun to drive that I made it a street car too.
This is what the car looks like today for a total investments of about $4500
Not a concourse restoration by any means, but to take what most would consider a parts car and made it a nicer car than many have for less money because I started with a cheaper starting starting point!
04-03-2012, 04:10 PM
#35
04-03-2012, 04:36 PM
#37
While I would love to see all these cars given a proper $10,000 repaint. Th simple fact is my cheap paint looks better from 10 feet away than many of the cars people paid a premium for that have worn our original paint.
04-03-2012, 05:48 PM
#40
Addict
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I'd disagree a bit. Too many times people pay a premium for a car that has old worn out parts in it.
There can be a very pleasant happy middle ground to your two options.
For example. I found a car that had a bad clutch(among other things) so the car was purchased at a deep discount. This allowed me to spend the differnce on a performances clutch I would have bought anyway.
So instead of paying a premium for things like "okay" paint, you save money on the initial purchase and get to repaint it better anyway.
I think a lot of owners paid a premium for old, high mileage cars expecting them to be problem free. Then think they are money pits when they have to replace old parts.
There can be a very pleasant happy middle ground to your two options.
For example. I found a car that had a bad clutch(among other things) so the car was purchased at a deep discount. This allowed me to spend the differnce on a performances clutch I would have bought anyway.
So instead of paying a premium for things like "okay" paint, you save money on the initial purchase and get to repaint it better anyway.
I think a lot of owners paid a premium for old, high mileage cars expecting them to be problem free. Then think they are money pits when they have to replace old parts.
04-03-2012, 09:08 PM
#43
Race Car
I'd disagree a bit. Too many times people pay a premium for a car that has old worn out parts in it.
There can be a very pleasant happy middle ground to your two options.
For example. I found a car that had a bad clutch(among other things) so the car was purchased at a deep discount. This allowed me to spend the differnce on a performances clutch I would have bought anyway.
So instead of paying a premium for things like "okay" paint, you save money on the initial purchase and get to repaint it better anyway.
I think a lot of owners paid a premium for old, high mileage cars expecting them to be problem free. Then think they are money pits when they have to replace old parts.
There can be a very pleasant happy middle ground to your two options.
For example. I found a car that had a bad clutch(among other things) so the car was purchased at a deep discount. This allowed me to spend the differnce on a performances clutch I would have bought anyway.
So instead of paying a premium for things like "okay" paint, you save money on the initial purchase and get to repaint it better anyway.
I think a lot of owners paid a premium for old, high mileage cars expecting them to be problem free. Then think they are money pits when they have to replace old parts.
So basically it probabky has a good transaxle.
My car needed paint. Do a search for "farewell project 951" and you will see. I have not replaced my torque tube bearings; otherwise it has all been done.
Anyway there are exceptions but I don't think this is one. And based off of the comments, he will have the work done. Those situatiobs all add up to a potential financial disaster. If it were not (presumably) his first one of these, that would make sense. But given what we know and what I assume based on comments, this is not a good match.
04-03-2012, 09:32 PM
#44
WRONGLY ACCUSED!
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If you have patience and wait for someone who just got married, is a getting a divorce, just had a baby, has no time, etc. you can pick up a car for a great price. Living in the Northeast I started looking for a track car at the start of fall. By November I found someone who had given up until the spring and was happy to entertain my offer. Patience will get you a good deal without all the elbow grease and worry about what you are actually buying.
That being said I have bought tons of cars to restore that were total rusted out bombs. But I was under no illusion as to what I was buying. You just have to be reasonable.
That being said I have bought tons of cars to restore that were total rusted out bombs. But I was under no illusion as to what I was buying. You just have to be reasonable.
