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Discussion Starter #1
Which is a better purchase for a driver car;

An original # matching, second owner (has original owner brass stamp and invoice to dealer) 64 GTO with auto/4 bbl. Condition 4. (Straight & clean, runs drives, but needs a lot of work to get in to a condition 3)

-or-

64 GTO different engine, 4bbl, 4 speed condition 3 ready to drive.

Trying to keep the initial investment (with basic restoration) to <$30k.
 

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Choice number 2. An original '64 will need race gas to run on the street with the high compression. (The car you described will need a lot of cash to clean it up to driver status that you'd be happy with. The automatic is a huge negative in a pre'67 GTO.) Choice 2, the non-original one, can have the engine modified as needed and it won't hurt the value since it's not the origina lengine anyway. The 4 speed is superior to the auto in driving fun and in value. Condition is everything. I would get the second car if I was going to drive it much....and driving these cars is what it's all about, IMHO.
 

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I too vote for choice # 2!! 4 speed over automatic always a big PLUS and they are more desirable. By (original owner brass stamp) guessing you mean the owner protection plan booklet. Cool but doesn't add any real value. Cost to step up from a condition 4 to get to a 3 is 2 to 6 thousand dollars. Ready to drive means you can start enjoying it NOW.
 

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Good advice.
What if the price of the condition #4 was <$18k? Does it make sense?
Too high. What you have to consider is what it will cost to get it to a #2 condition which to me is a driver and something you can enjoy, but is not perfect. Take a whole lot more money to get it to a #1 condition which is basically a full restoration. Then, you have to figure on what the realistic resale value is, not the Barrett-Jackson price. The car is only worth what someone will pay for it.

A condition #4 car will need a good going thru rebuilding all mechanics, interior, paint, etc.. My opinion - If it was solid with little to no rust it might be worth $5,000 if complete. For $18K you can get another car already done in a #2 condition ready to drive and show.

If you have 30K to spend, then you should be looking at a #1 condition car with tripower and 4-speed.
 

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I agree with Pontiac Jim, for the most part. A base automatic 4bbl '64 GTO would have to be a #2 condition car to get 18k in today's market. A #4 base '64 can be had for well under 10k with no rust out. For 30k, you may be able to get a #3+ or #2- car, if you are lucky. #1 condition is showroom new/100 point restoration, and these cars are not driven. Expect to pay 80-120k for one. Most people at car shows see a clean #2 or #3 car and think it's a number 1 car. It ain't so.
 

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option 2... find a nice #3 car in the 20K range and use the extra cash to make it a #2 and yours, then drive the tires off it.
 

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I don't care for them, personally. A clone is a fake, pure and simple. That said, they offer the same enjoyment and driving pleasure for half the cost of a real muscle car. I would rather drive a Le Mans or Tempest in its original form with drivetrain upgrades.
 
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