| Author | Message | ||
| Barney Guzzo (Trinacria)
Junior Member Username: Trinacria Post Number: 87 Registered: 8-2002 |
Be careful with signing such a thing. Make sure you are both clear on any fine print. | ||
| V.Z. (Ama328)
Junior Member Username: Ama328 Post Number: 91 Registered: 11-2002 |
Well, OF COURSE the car'd be on the market for $39k, as no one in their right mind would buy it and take it OFF the market  | ||
| Anthony A. (Yank05)
Junior Member Username: Yank05 Post Number: 118 Registered: 8-2001 |
Thank you everyone for your opinions. I left a deposit and included an "Addendum" to the purchase contract that basically gives me the right to cancel the contract - my friend is an attorney and gave me the "ok". This was initialed and signed by the sales manager. Based on the pre-purchase, I will then arrive at a price. If the price is not agreed to, I receive my deposit back and the contract will be cancelled. Also, I have heard positive things aboout the dealer's reputation but "business is business" as they say. It's amazing, most car salesman bring out the worst in me - I usually can't stand them. The guy I am dealing with told me the car would be on the market for $39K - he said this with a straight face too! | ||
| Matthew F (Mateotnt)
New member Username: Mateotnt Post Number: 18 Registered: 7-2002 |
The dealer won't let you take it to an independent mechanic without some sort of commitment? Walk away. | ||
| Philip Airey (Pma1010)
Junior Member Username: Pma1010 Post Number: 98 Registered: 7-2002 |
It seems as though price is always subject to disparate opinions. If I thought I'd not need to spend much more on the car during the first year of ownership, I'd pay close to the price discussed. The issue for me is (has been) the amount of work the car needs. Will the seller provide a year's warranty for the asking price? Against a defect (leaks...)? Against parts that are found to be worn (bearings...)? Some of us have found it is easy to spend a significant proportion of the purchase price getting the car "right". If there are detailed records and evidence of significant $ being spent on most of the major systems from brakes to suspension to 30K service etc it would bias me to spend a lot more than one without the records. Last, without the "warranty" (which you are unlikely to get) if you believe the seller will stand behind the car rather than giving you an "as is, where is" response, I'd pay more. | ||
| Dave328GTB (Hardtop)
Member Username: Hardtop Post Number: 398 Registered: 1-2002 |
You should write a purchase contract with price contingent on an acceptable PPI. A small deposit should be OK. However, 32K is way high for a 77 308. There are fiberglass examples close to that price. There is what appears to be a really nice 77 on the west coast with 15K and 26,500 asking. Dave | ||
| Verell Boaen (Verell)
Member Username: Verell Post Number: 501 Registered: 5-2001 |
Anthony, Would the dealer/restoration shop happen to be in Wayland, MA near the Sudbury line? If it's the one I'm thinking of they have a good overall reputation. FoNE sends all their body & suspension work to them. Referred me when I wanted a front end alignment. | ||
| Tom Bakowsky (Tbakowsky)
Junior Member Username: Tbakowsky Post Number: 174 Registered: 9-2002 |
If you are going to do this,be sure that the car is in the same condition as when you first saw it. Do not allow them to touch the car at all until the insepection is done. Many places will say "o.k. we'll send it there tommorrow" but what they do is, put the car on a hoist and shampoo the engine to remove any oil deposits and they "go over" the car trying to fix the stuff they know thats wrong with it as cheaply and quickly as possiable before it goes out to be inspected. They will change the oil and top up the antifreeze etc. in hopes of fooling the mechanic. Usaully this does not work if your mechanic is good and knows what to look for(which I'm sure the fellow you know does). I have seen this done many times. They basicly try to "fake" the car through the inpection | ||
| TomD (Tifosi)
Intermediate Member Username: Tifosi Post Number: 2408 Registered: 9-2001 |
exactly - why would you spend money on a ppi if you were not serious, i had dealers willing to drive the car 1 hour to get a ppi done for me- no commitment needed | ||
| Frank K Lipinski (Kaz)
Junior Member Username: Kaz Post Number: 117 Registered: 11-2002 |
I don't know Anthony - I guess some of it would be based on the reputation of the dealer. Yes, you can write an agreement stating contingent on buyers inspection and approval and give a deposit. If the car is a dog, and I'm not saying it is, how hard will it be to get your money back? You may have to jump through a bunch of hoops, hire an attorney, etc etc. Not to mention your funds will be tied up in case you find another car you want to put a deposit on. On some cars I looked at, the selling location offered me the car with no deposit if I would arrange a flat bed to take the car to a F-Dealer for PPI. I guess they felt that if I was willing to pay for a flat bed round trip and a dealer PPI that I was a serious player.. | ||
| Craig Dewey (Craigfl)
Member Username: Craigfl Post Number: 526 Registered: 1-2001 |
It sounds like if you write the agreement properly(to protect your interests), there should be no problem with the conditions if this is the car you want. Just remember to write something in the agreement to deal with the problem areas -- so the seller can't just fix the items without some kind of approval/acceptance by you. You also need to be reasonable so the seller feels that he can abide by the contract and make a sale. Just my two cents... | ||
| Dave Penhale (Dapper)
Member Username: Dapper Post Number: 508 Registered: 4-2002 |
"if the car checks out perfect" is a hypethetical impossibility with a F car with a few years on board isn't it? There will always be something that could do with some attention at that age...surely? I guess a "within reason they will put stuff right" needs to be in there somewhere and a "within reason on what needs doing you could pay as much as". Perhaps use other wishy washy litigous get outs such as "best endevours" etc Sounds like the cars too good to let it go, especially as you really are talking about such a small delta of potential mutually acceptable purchase price compared to what you may spend on it over ownership. | ||
| Hans E. Hansen (4re_gt4)
Member Username: 4re_gt4 Post Number: 811 Registered: 4-2002 |
Err.... "Newer" 2 valve? The older ones generate a LOT more HP. I won't comment on price, but I don't think the dealer is wrong in wanting some sort of firm commitment from you. When I bought my 'GT4, the dealer wanted a similar agreement. Mutual choice of mechanic (the guy had an impeccable (SP?) reputation). As the dealer put it: "If the car checks out perfect, you'll pay $XXK, right?" Well, the car checked out with a few booboos (a couple of light bulbs, minor oil leaks, etc.). The rest is history. The car is in my garage. | ||
| mike 308 (Concorde)
Junior Member Username: Concorde Post Number: 91 Registered: 8-2002 |
$32K would be about the right price if it was a newer super shape 2-valve model, or a so-so QV. | ||
| TomD (Tifosi)
Intermediate Member Username: Tifosi Post Number: 2405 Registered: 9-2001 |
you should agree on price before hand assuming all ckecks out, but you should not have to put a commitment in writing - they should not have a hard time letting you take it for inspection. you might offer to pay the salary of the guy they need to take the car over there but nothing more | ||
| Anthony A. (Yank05)
Junior Member Username: Yank05 Post Number: 115 Registered: 8-2001 |
Well, after a couple of years searching for the "right" '77 GTB, I have found one. The car is at a dealer (dealer/restoration shop of Mercedes, also have some exotics there). I am, of course, going to have a pre-purchase done, etc., but this dealer wants me to agree on a price "assuming the car is in perfect condition". At first, they were firm about getting $35K (way too HIGH) regardless, now they are asking what I think the car is worth. Any repairs needed will be taken into consideration and the price adjusted accordingly. I told them I prefer to have the car inspected before we talk price. However, they will not let the car out to my mechanics shop (about 25 minutes away) unless I leave a refundable deposit along with a purchase agreement which states an agreed price of the car assuming it needs nothing. I can see leaving a deposit due to the car leaving the premises, but I am not at all keen on stating the price I would pay beforehand. Also, this is a '77 308 with a beautiful, original interior, good paint (but not excellent) with a recent mechanical overhaul (you name it is was redone, except head gasket and nothing done to tranny) by a well-known mechanic. It does need an exhaust(it's original) and the dealer already agrees with me on this. It was a low-mile queen most of its life (until 1996), thus the recent $15K detailed (very detailed) repair bill. Over the past six years it was driven 10K, now having 21K on it. What do you think about this? I do not like the fact that they are telling me to state a price right out front. Do you think $32K without an exhaust is too high even given all the recent work? Any thoughts on this matter would be appreciated. Thank You, Anthony |