Stan.Shaw@Excell.Net

Yes, I told him pretty much that, that he might spend $5k getting the valve issue corrected along with some "while you are in there" stuff, and then he could find out he has a bad transmission, bad brakes, bad suspension, etc.

And of course the car won't be worth the total cost when he is done if he is paying a shop to do it all. He could probably find a better example for less money without the hassle.

Jim bailey - 928 International

Yes some of the "cheapest" 928s turn out to be the most expensive it is a very slippery slope once you get started and unless you finish the car it is worth little so like Texas Holdem once you start betting it is hard to fold...

tdelarm

Been there done that but then again...I ended up w/a low miles shark also.

mspiegle

Think of it as a payment plan. You make a $3900 downpayment, then a few hundred a month after that to get it up to snuff =) Just hope it isn't one of those 10 year payment plans with variable interest rates that usually go UP!

RyanPerrella

Mike,

Thats a good way of looking at it

Jim bailey - 928 International

In this case more of a "layaway" plan because until a lot of the money is "invested" this car is just driveway art ...

dr bob

This is more correctly refered to as the "lay awake" plan, wondering how you will ever come out of this with a dollar and an ounce of sanity. Before that, but after she hears about how much more time and $$ it's going to take to get it driveable, we get the "rollover" treatment".

----

I do have to admit that I gave this one a minute of thought. It was right next door in Pasadena an dthe price sure seemed to be right. But then I started hearing voices. First my own, preaching once again how one should only buy cars that are already close to what we want. Then I had this vision of Jim B, laughing his a$$ off at me as he perused my first-of-many shopping lists. Then I thought about the temps in the garage, the hours of fun, sleeping in the doghouse, and then trying to find a market for the finished project if was ever actually finished.

Jim bailey - 928 International

But Dr Bob at least you have the ability if not the inclination to work your way out of it generate some sweat equity so different from planning to PAY someone else to "fix it" . When you TOW a project car into a shop and they learn that you bought it that way it is not uncommon for a lot of things to need fixing ....the "while we are in theres" just gets longer and longer. And Bob I would never laugh at you....while you were here Your comment about "one should only buy cars that are already close to what we want. " is so true otherwise you may wish it was ..an automatic,blue,no sunroof,5 spd newer,older ,lower miles, better paint, had more leather....plus after you have "invested" time and or money you may not be able to sell it for what you think it is worth and end up owning it ! So only buy them if you would not mind owning it. Just a bit like the stock market long term investments are often just short term investments which went south...

neilh

Wise words, Jim. Should be included in the newbies FAQ!

Robert_H

I am kind of puzzled at all of the posts regarding how much it would have taken to get this car up to snuff.

When I first posted about the car (I saw a few of the pictures of it), I thought that with the price of interior items being what they are... that this would make a great opportunity for someone to buy a parts car for less than 4K. I like 928s as much as the next person (I've got 2 of them), but I wasn't thinking about how this car would sucker a buyer into purchasing and then spending his/her life savings into it to get it to pristine condition.

Just seems odd to me.

Jim bailey - 928 International

Human nature being what it is MOST people tend to be optimistic which I suppose makes it easier to get up out of bed and go on with the day. Also makes it easier to buy on credit because you obviously will make more money in the future, take on huge mortgages , and buy cars which do not run... I refer to it as the Pretty Woman syndrome where you seek to live out the Pretty Woman plot but with cars...and expect to end up with Julia Roberts not Joan Rivers !

neilh

Ah, but he did buy it with the intention of fixing it, and about now may have buyers remorse!
Lets see how long it takes to come back up on craigs list, sold as is!!!