Newbie buying questions for 1969 GTO - Pontiac GTO Forum
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post #1 of 10 (permalink) Old 10-09-2012, 10:42 AM Thread Starter
 
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Newbie buying questions for 1969 GTO

Im close to pull the trigger on 69 GTO convertible. its located out of my area so ill have to travel to see it and put an offer on it. Seller price is $25k so im wondering if thats a good price and how much its going to need to get to a nice driver condition based on the photos. i dont want to buy a car that needs frame off so this one looks to me like it needs the engine shined up, new paint, and a good cleaning. Thoughts?
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post #2 of 10 (permalink) Old 10-09-2012, 04:43 PM
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VERY hard to tell from just a couple of photos, but things I see are the interior looks pretty decent. Can't tell anything about the actual condition of the body/paint though.

Couple things I spotted right away are that the engine is the 'wrong' color and also the sheet metal on top of the raidator is all wrong for 69 - unless a/c cars and non-a/c cars were completely different (and I don't think they were). I'm seeing other things in the engine compartment that are also missing other than the incorrect air cleaner. That makes me wonder whether the engine is original and what else might have been changed.

If you're not experienced at evaluating cars, then get someone who is and take them with you - even if you have to pay them a fee.

Seat of the pants, finger in the wind, gut feel from long distance.... I'd say 25k was a mite high for what I'm seeing in the photos.

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post #3 of 10 (permalink) Old 10-09-2012, 06:03 PM
 
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Also, it's what you DON'T see in these pictures that you really need to look at.

Frame, underbody/floor pans/trunk pan, common rust repair areas at the rear of the front fenders (right in front of the door opening), rear quarter lowers behind the wheel openings, and the windshield base, among other areas.

Convertibles often have rotten floor pans and quarter inner/wheelhouse inner problems. Does it have a power top and does it work?

As far as the body goes, look for consistent gaps and evidence of old (or poorly done) repairs.

I agree with Bear...$25K seems steep for what you can see, unless that turns out to be the original engine and the frame/floors/underbody are super clean.

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post #4 of 10 (permalink) Old 10-09-2012, 07:23 PM Thread Starter
 
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Thanks for the input. Here is what ive noticed: Alternator and valve covers are aftermarket, chrome cover put on fan shroud. ive figured ill need to put $2k into the motor to get it to look right. hoses, wires, aircleaner, paint. Will need body to be repainted, ive asked for more photos of the body seams and door welds to determine how much work body will need. estimate $5k. Body is straight, gaps are even. Seller says roof motor works. Engine looks right but hard to make out the engine code. Seller didnt know if original or not. Im really trying to get a sharp car for $27 including the fixes listed. Would a $20k offer be reasonable? Ive seen cars done for $30+ so hope im not too in love with the model to buy something ill regret later.
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post #5 of 10 (permalink) Old 10-09-2012, 08:47 PM
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Another big question is... why?

Are you looking at it as an investment, or as something you want to keep for yourself?

On an investment you have to pay much closer attention to cost. If it's a car that 'speaks' to you that you want to keep, then cost isn't as important as condition - i.e. is there anything lurking that's going to be impossible to fix?

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post #6 of 10 (permalink) Old 10-09-2012, 09:58 PM
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Listen to these gentlemen! That is not a 25k car, nowhere close. Maybe 15k from what I actually can see. In the past year (and the market hasn't changed) I missed out on the opportunity to buy a strong #2 condition black/red interior '66 GTO convertible for 30k...and the car needed zip. For 25k, you should be able to get a much nicer '69 ragtop if you are patient and willing to dig. Paint jobs are EXPENSIVE. Most of us on this forum agree that a basic restoration costs about 25 to 30k...if you do all the work yourself. This does NOT include the initial price of the car itself. Something to consider. Spending 25k on a car that will need 15 to 30k in refurbishment will net you with a 40-55k investment that may be worth 35 or 40 k at best.
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post #7 of 10 (permalink) Old 10-09-2012, 10:39 PM
 
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It's great as an enthusiast that someone thinks that car is worth that much money.. I would send someone out there with a magnet to check that car. Looks like an older restoration that needs alot of TLC.. Really have to see if the body is solid and straight. Best of luck.

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post #8 of 10 (permalink) Old 10-09-2012, 11:56 PM
 
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Welcome to the forum, GeeTee is right on the Money...Literally, we have thrown these resto numbers around enough (and paid them) on our cars. With the soft market and 25-30k you should be able to find a nice older resto that needs very little work and you can hop in and drive. They are out there, you just have to be patient and willing to go out and look or *have a local member look for you*. Are you dead set on a convertible? Check the "Craigslist cars for sale" thread on this forum, we try to post potential good buys when we see them.

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post #9 of 10 (permalink) Old 10-13-2012, 11:19 AM Thread Starter
 
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Thanks for the good advice. I cancelled the deal since the seller would not send pictures of the pans, frame, or any weld seams. I offered less than asking since I could not tell from the photos what was needed. Sad, but believe the right one is out there. Planning to go to Mecum in January if I dont find gto by then. Not a lot of 68-69 convertible 4 speeds with hide away lights in market right now so ill keep looking. I saw quite a few in my price range in spring last year so i know they are out there.
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post #10 of 10 (permalink) Old 10-13-2012, 11:34 AM
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He probably didn't send more pix because he knows there are more issues. Same with not knowing if the motor was original or not. He knows and I bet it's not. If it was, he would be telling you because that's a big selling point. I think the seller is putting his faith in the "resale red" basket.....

Good call. For that kind of money you can find a much nicer car. It's just a patience game...



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