So lately I have been looking around alot for a second project car and ive even found myself calling and E-mailing people for more information about cars when I know I dont even have the money for the car or even if I did im not done pouring money into my firebird yet. Is everyone like this or am I just wierd??
But I have found some pretty sweet deals. Some cars I really wish I did have the money for, like a '67 400 4-speed GTO I talked to the owner for a while and it sold a few days later. I guess ill have to wait until after the firebird to get a second money pit.
I'm juggling the restoration/modification of two 'birds and find time and funds always short. I also had my eye on James's '67 C 20. That gen of trucks in my favorite, and I'd like to have a 3/4 ton truck. But my condo's A/C went kaput, and the tech that looked at it said "replace it". So that idea got scraped.
No your not the only one. I've also seen several '69 GP's I'd love to own. But reality sets in for I have no space, and now no funds for such. Finnish what you have, then move onto another. Unless you like to juggle.
The price of a 400 4 speed solid Firebird with matching drivetrain and 95% of parts was about 6K a few years ago (2004)
The price of a solid Firebird 400 4 speed coupe, running and driving (first car) in 1988? $1200 (yes, twelve hundred dollars)
The price of solid numbers matching 4 speed 400's now? Going up and up every day. The economy is rough right now, great time to buy at reasonable prices.
I myself have purchased 3 numbers matching, complete 67-8 Firebirds within the past 4 years and kept one. Sold the other two to two friends who have the resources to restore them.
My point? I either buy Firebirds which are solid and have their original drivetrains at a reasonable price, they increase in value over a few years, then I make a few bucks off of them if I see a more desirable car come along. If one didn't, at least I had two solid 400 cars that would be desirable in the future.
Ii have the 67 400 auto and the 68 HO. I will never sell either. The 67, although not what I really wanted (auto trans) is a Zone 35, Dealer 997 Pontiac Motor Division Engineering car, highly optioned. The other is a complete correct HO. They both have value, the 67 is historical (4 known to exist) and the HO is somewhat rare (complete, correct and solid), but not as such as a RA car, but good enough for me.
If you want another car, but sitting on another, join the crowd. Vikki bought my 68 400 4 speed, Brad bought the 67 400 auto. Both of them own multiple cars, but understood that good, solid 400 cars which are complete are getting harder to come by at a reasonable price, so buy it if you can get the money. Worry about restoring it later. You never know, that second car may just explode in value (unrestored) and could finance your first car. It is also a great investment. Solid numbers matching Firebirds will not go down in value, especially 400, 350 HO and Sprint. The others, R/A and HO are out of most people's leagues unless you have savings or finance, but are great returns on a full restoration as you really will not be upside down with car value plus cost of restoration.
Example...Both cars identical in condition.
1968 350 2 bbl, numbers matching $3000, cost of complete, thorough full restoration (all labor/parts) $15-18k, possible resale value 10-13k. (very common model 50k produced, low performance)
400 H.O. numbers matching. $10k initial cost. Same resto $15-18k Possible resale value $35-45k. Low production 1300 or so.
It is easy to get upside down in these cars, but if you shop wisely for a solid car initially, that is rare and a 4 speed, you will be ahead of the game. That is unless you do your own bodywork and motor rebuild. Other non 400 cars are fine, I use the 400 example because that is what I buy and desire and is a personal preference. If you chose any other model, just understand that the return may not necessarily be what you spent on the car/restoration if you decide to sell.
Just a part of my theory and thoughts.
Si Vis Pacem Parabellum
1967 Starlight black PMD Engineering 400 Auto 1968 Alpine Blue 400 4 speed 1968 Verdoro Green 400 HO 4 speed 2013 1LE 2SS/RS Inferno Orange Camaro.
My '69 is due for a total restoration, it will be out of service for at least a year. Without another car to drive I would be missing out on enjoying our brief summer.
If I was only pulling it down for axle rebuild or something it would be no big deal.
Vikki 1969 Goldenrod Yellow / black 400 convertible numbers matching
My '69 is due for a total restoration, it will be out of service for at least a year. Without another car to drive I would be missing out on enjoying our brief summer.
My vert was out of service for 6 years while I was restoring it. I bought over 50 different classics to aleviate the pain. The trick is to buy other cars that DON'T need work so you do not get sidetracked. Now, even when I buy other cars I only drive the vert because it's the best. Drive the best and sell the rest....
