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Hi all, I've been lurking on this forum for ages - though I just created this account to use my proper name. I've wanted a 928 for a long time, and it turns out a friend's father is eager to sell one. We haven't talked price yet, and I'd like some advice from the gurus here:
First of all, should I purchase it at all? If so, what is a fair price?
The car has some issues. It hasn't run for two years, after the clutch failed. The owner say he's started it a few times, and will start it for me before we get too much further into the process. There is some rust, and some damage to the rear. The interior is a bit ratty as well. Apparently a wide variety of warning lights appear upon startup.
I'm not too concerned about getting it driveable right away, I really don't need a car where I live. I'm interested primarily in the car as a hobby rather than actual transportation. I'm not very knowledgeable about cars, but I'm a machinist/toolmaker - I design and create production machinery for a living, and of course have access to a complete CNC machine shop...so I guess I should be able to muddle my way through most things? Hopefully?
I hope this is enough information for you guys to provide some advice on this. Thanks in advance!
If the speedometer isn't broken and the mileage is correct that is not bad. Five speeds are the way to go. The cowl is easy to replace and you can source a new rear lid without rust for a few hundred. Probably even one in black to avoid having to paint it. If it drives and shifts okay I say go for it! Explain to him that it is going to cost you $5,000 to fix everything to make it safe and reliable and offer him $1000 to $1500 cash and see where it goes from there. If you've truly been following this forum for many years you should be able to explain how the $5000 will be spend from fuel lines to timing belts, etc. It adds up quickly and the cars are increasing in value but not that fast. Most clean, well sorted early 5 speeds sell between the $5000 and $9000 mark from everything I've seen over the past few years. And I regularly check sale prices as I'm sure others on this forum do...
Oh, and if you end up getting it let me know. I have a replacement black cowl that I'll sell you cheap. I just pulled it from my '83.
That car has been hit in the rear (note the collapsed shocks behind the rear PU bumper cover). The rust is prevalent, and based on your description of the interior, in bad shape. That cowl external cowl piece has me concerned too - it looks more like the remnants of fire damage than straight up rust. You need to really drill down on the history of that car. Also, it may start, but unless you can drive it, I would consider it a non-runner for all intents and purposes. By your own description, you are not knowledgeable about cars.
I think if you buy it, at any price, you will hate Porsche 928s forever after. Since you've been lurking, you clearly like the 928 now. Take the money you would use to buy this problem car, plus the maintenance money set aside for it, and buy a good known quality car that you just have to tinker with from time to time, until you learn about these unique automobiles. Then, in a year or two, this one will still be there, buy it then and make a proper project out of it. Don't start with this one, though, or you will become a Chevy guy for sure.
I think if you buy it, at any price, you will hate Porsche 928s forever after. Since you've been lurking, you clearly like the 928 now. Take the money you would use to buy this problem car, plus the maintenance money set aside for it, and buy a good known quality car that you just have to tinker with from time to time, until you learn about these unique automobiles.
Agree on Ed's assessment.. there's a lot of money to pour into that car.
Save the friendship, save the cash, and keep looking for a car in better shape.
Even if its free, you'll be upside down in spend well before you're into stuff like fixing engine oil leaks and replacing engine bay rubber hoses.
Recommend either a '78, or finding a Euro 928S
This is a classic example of being $10k from being a $5k car.
I don't know, l agree with Steven (UNEEKONE) and say if you could get it for the right price, $1000/$1500...and you can do all of the maintenance/repairs yourself...it would be worth tinkering with. Of course, this price range hinges on the owner getting it running. If he can not, the price drops considerably, maybe the $500/$750 range. Plus, you want him to get it running, since, if it goes up in flames...because the fuel lines are bad...I'd rather it happened in his driveway and under his ownership...instead of mine. Now, even if he does get it running and the fuel lines have not been replaced recently...I would tow/haul the car to your house after you purchase. Especially, if the car has been sitting outside under that car cover and tarp, with hoses rotting from temperature/humidity changes.
Clutch assembly, depending on how many parts are needed, could run you anywhere from a grand to fifteen hundred. Timing belt, water pump (and associated items) and every rubber hose under the hood (fuel, vacuum and coolant) will probably be another fifteen hundred to two grand.
The interior doesn't look terrible to me, yes the door panels have been butchered with new speakers, but the dash, pod and console look to have been recovered recently. Couldn't really tell the condition of the seats and carpet from the pictures, so if they are in bad shape...they can be somewhat expensive repairs. However, if you are just looking to have a "driver" when said project car is all done, these issues really aren't that important.
You say you're a machinist, and most machinist I know are pretty meticulous about detail and patiently minded. So, I believe you could probably learn the methods needed to repair most of what needs repaired mechanically. As far as body work goes, the hatch, cowl and rear bumper cover come off pretty easily and can be found easily, too. Take the three pieces to a body shop and have them sprayed, reinstall and you got yourself a decent "driver". Plus, black is probably one of the easiest colors to match.
In the end, you will probably always have a car that is on the lower end of its value scale. But, if you are doing all of this as a hobby and for the love of the car...who cares. I would believe...if you can keep your total expenses below $5500...you would probably be okay and maybe get close to that if you were to ever sell.
the car is NOT drivable....the clutch "failed" two years ago...so no way to see if the transmission shifts well or if the 2nd gear syncros etc. are worn out.
the O P probably does not even KNOW if he would be happy with 195 horsepower at the rear wheels....my guess is he has NEVER driven a 928 !! simply lusted for one based on how it looks. Which might be fine as this could easily be driveway art....a decoration and not a car.
If you have the space, and you could get it at a very reasonable price, you could buy it and part it out
Take the profit and buy a better car. You would learn a lot about 928's in the process.
Check underneath for a burst rubber line or that the brake fluid has drained out. That'd make the clutch "fail" all of a sudden.
Fair price? $1000. It's not moving and there are noticeable cosmetic issues. You don't want to insult people but the crazy 911 prices aren't extending to derelict 928s.
the big deal to me is rust, coming from the great lakes area I know a little about that stuff. get underneath. -has to be zero rust (and no heavy undercoating to hide it). next are window channels. they hide big trouble under the mouldings. remove and replace items are easy. a virgin body is not. if it passes this test, go for $1000.
You'll very easily put more money into this than it will be worth, especially if there is more unseen rust, which I wouldn't bet against. I'd keep looking for a nicer example - always start with the best base that you can afford. Good luck!
Thanks so much for the input guys, I really appreciate it. I didn't get a picture, but today I noticed some bubbling around the sunroof as well. I'm not sure how that gets fixed? Is it even repairable? Is it worth getting some pictures and posting them here, or is bubbling pretty well indicative of serious decay?
I don't mind getting upside down on the car to some degree, I like mechanical things and I'm happy to spend money on a hobby like this. I don't have a lot of interest in body work though, and since the roof isn't exactly easy to replace I think that might be the 'death knell' for this idea.
There are other cars which are nicer that won't end up costing as much.
Believe me.
I have a 1981 5 speed and you may begin by thinking in terms of a few hundred dollars to get her up and running, and it turns into several thousand dollars to fix the things that you find.
Please pass on this one, save a little more cash, and get one that is in better condition.
Unless it is free, or if you plan to part it out, I'd walk away. Just consider for a moment the 1988 Docmirror listed for sale earlier today. A little over $9k for a nice car that is mechanically sorted out and mostly sorted cosmetically from the description. It wouldn't surprise me if it costs that much in parts alone to get the one you are looking at into as good condition plus it will need painting and probably a couple of years before you had a comparable condition car. However, if you are looking for a lengthy, challenging project that you don't mind spending money on, and if the journey is what you're seeking, then this project will certainly provide it.
Unless it is free, or if you plan to part it out, I'd walk away. Just consider for a moment the 1988 Docmirror listed for sale earlier today. A little over $9k for a nice car that is mechanically sorted out and mostly sorted cosmetically from the description. It wouldn't surprise me if it costs that much in parts alone to get the one you are looking at into as good condition plus it will need painting and probably a couple of years before you had a comparable condition car. However, if you are looking for a lengthy, challenging project that you don't mind spending money on, and if the journey is what you're seeking, then this project will certainly provide it.
Haha, yes you're very perceptive. In truth a good running car would actually be less attractive to me than one that required a 'journey'. But, I draw the line at bodywork. I do a fair bit of welding and fabricating, just enough to understand how difficult it would be to fix that roof correctly. Plus, I don't like painting.
10-21-2015, 12:14 AM
Buying Advice - 1981 5 Speed
