Fair Market Value of 1989 944 Turbo
#1
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Fair Market Value of 1989 944 Turbo
My son has owned his 1989 944 Turbo since 1996, but since getting married in 2010, having a family and living in a house in Seattle with no garage or off-street parking, the car has mainly been at our house, except for the last 8 months when it's been in storage at another location due to our remodeling project.
Now Scott says if I bring it back to our house and drive it and keep it running that I can essentially have it. I'm already joint owner on the title since this greatly reduced his insurance rates when he was younger. Although he says I can "have it" for free, my lovely wife says we should pay him something for it. Scott is of the impression that it's not worth much... but I don't think he's checked the value.
Other than me keeping it and throwing a pile of money into it we may elect to just sell it since I already have my 944 S2 (or I could sell the S2 and keep the turbo, or just keep both). The 951 is mildly modified with a MAF conversion and 17" Porsche twist wheels, aftermarket radio and 968 CS steering wheel. Other than that... pretty stock. Mileage is about 139K as I recall. The main issue is each day it's hit and miss whether it will reliably make boost. This has been an ongoing issue for years, and probably the main reason he's willing to just let us have it. If I keep it I'll probably do VEMS, TEC or other standalone system.
Any thoughts appreciated.
Not sure I want or need another car... but the price is certainly right :-)
Tom
Now Scott says if I bring it back to our house and drive it and keep it running that I can essentially have it. I'm already joint owner on the title since this greatly reduced his insurance rates when he was younger. Although he says I can "have it" for free, my lovely wife says we should pay him something for it. Scott is of the impression that it's not worth much... but I don't think he's checked the value.
Other than me keeping it and throwing a pile of money into it we may elect to just sell it since I already have my 944 S2 (or I could sell the S2 and keep the turbo, or just keep both). The 951 is mildly modified with a MAF conversion and 17" Porsche twist wheels, aftermarket radio and 968 CS steering wheel. Other than that... pretty stock. Mileage is about 139K as I recall. The main issue is each day it's hit and miss whether it will reliably make boost. This has been an ongoing issue for years, and probably the main reason he's willing to just let us have it. If I keep it I'll probably do VEMS, TEC or other standalone system.
Any thoughts appreciated.
Not sure I want or need another car... but the price is certainly right :-)
Tom
#2
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Hey well an 89 is a desirable car without pics to express the current condition it's kind of hard to tell. 951 car are very easily in the 10k mark and up especially with that year and your miles are reasonable. I am sure someone else will chime in, worst case hagerty car value's will help some.
#3
Drifting
Hey Tom,
Glad to see you're still around. I agree w/ Cyclone. Assuming reasonable condition $10k sounds about right considering the boost issue. Fix that and add another thousand or 2.
Glad to see you're still around. I agree w/ Cyclone. Assuming reasonable condition $10k sounds about right considering the boost issue. Fix that and add another thousand or 2.
#4
Drifting
Explain joint owner.
Joint ownership. Or you have some money in this car too.
I agree on the 10k value, maybe into the teens.
If you feel you have to pay for it? half? $5k, $4k.
Appreciated value? Perhaps offer half of the profit on the possible sale in 2025?
Surely the paltry $3-5 k payment, is less than he saved on the insurance of the "joint ownership" over 23 years.
Joint ownership. Or you have some money in this car too.
I agree on the 10k value, maybe into the teens.
If you feel you have to pay for it? half? $5k, $4k.
Appreciated value? Perhaps offer half of the profit on the possible sale in 2025?
Surely the paltry $3-5 k payment, is less than he saved on the insurance of the "joint ownership" over 23 years.
#5
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Explain joint owner.
Joint ownership. Or you have some money in this car too.
I agree on the 10k value, maybe into the teens.
If you feel you have to pay for it? half? $5k, $4k.
Appreciated value? Perhaps offer half of the profit on the possible sale in 2025?
Surely the paltry $3-5 k payment, is less than he saved on the insurance of the "joint ownership" over 23 years.
Joint ownership. Or you have some money in this car too.
I agree on the 10k value, maybe into the teens.
If you feel you have to pay for it? half? $5k, $4k.
Appreciated value? Perhaps offer half of the profit on the possible sale in 2025?
Surely the paltry $3-5 k payment, is less than he saved on the insurance of the "joint ownership" over 23 years.
I don't think Scott wants any money for the car, he just wants me to take care of it... knowing he'll eventually get it back when I'm too old to drive it, ha, ha. The bottom line is between 80 and 130K miles he's probably spent $15K on things that have gone wrong. Some of those are still unresolved... like why have multiple batteries gone dead for no apparent reason? (it's now equipped with a battery disconnect).
At this point my signature says I'm keeping it... have already been looking up parts to buy :-)
Cheers.
#6
Burning Brakes
Glad to hear you're keeping it. These 951s' are almost unicorns in that you would have a hard time finding another one. I'm sure your son will thank you someday in the future.
Keep it.
Fix it.
Enjoy it!
Keep it.
Fix it.
Enjoy it!