Contemplating a "project" TR

Hey TR gurus,

Thinking about shuffling the fleet a bit. I know it's a wise thing to buy the best car you can afford but I really enjoy taking things apart so I'm the perfect buyer for a car that doesn't run/needs service/blown gearbox.

Anyone have a line on such a gem?

This car in the ad section looks pretty reasonable but I've not looked at TR's for a couple of years so don't really know where the market is ... needs major service etc. Would prefer something with more mechanical damage/less inital $$$ outlay more of my time required.

http://www.ferrarichat.com/ferrariads/showproduct.php?product=2274&cat=4&limit=recent&date=1201068018

Thanks,

Sean

 

$35K w/o the speedline wheels

 

It is on ebay (3rd time) for $36,888 obo, so I would say that you could probably get it for 35k(maybe less). Other than the seats looking tired, looks like a great starting point for a "project car "for the DIYer. I dont think that you could ever financially overcome a blown motor or trans project car because the parts cost will eat you alive, however this car, with some DIY labor can be a rewarding and not as financially draining project. The worst TR I have ever seen with major mechanical problems, still sold in the high 20's. I would rather have this car that is running and driving for a few $$ more.

 

You need to talk to Carguy about the nature of TR projects.

 

http://www.ferrarichat.com/forum/showthread.php?t=225542

This may be a perfect project. Pretty straightforward major plus bits.
IMO you don't want a blown tranny/engine project. It will cost more to fix than you would have in it and if it were blown there is a reason.

 

These cars go for between $60k and $90k what could possibly be wrong with it if it's selling for $36k or bo and good compression numbers?
The prices can't be that deflated. It would be interesting to know it's real condition if someones looked at it. You'd think at $36k there would be line ups for it unless it's been smashed on all 4 coners and 300,000 miles

 

Yeah I've been watching that TR too....what a price! I'd have to see that car in person before I'd buy it. It could turn out to be a good, honest, solid car - and if that's the case - what a deal!

 

I like this part of the description

"odometer quit working at approximately 20k miles and according to owners records, approximate mileage is 50,267".

They know "approximately" when it quit, and then the "approximate" current mileage is down to the single digit.
I bet they have a heck of a driving logbook which you can review.



Still.....$36K. Geez.

 

Thanks for the replies all. Contemplating it.


Wish she was closer ... plus I have a possible trade LOL.

Cheers

 

Just a little excersize in speculation,
Lets assume that the reason the price is so low for the following reasons,
A) The miles driven are higher than 50k
B) The usual issues that go wrong with a TR are present. For example; circuit board problems, seat belt "mouse" problems, needs a total engine out including tensioners, water pump, ALL hoses and and ALL belts, cam seals, needs fuel injectors, needs a clutch and brakes (didn't the ad say that it needed brakes?), the A/C doesn't work, shot ball joints and shocks, won't pass emissions.The list can go on for ever.
C) Interior cosmetic issues, all of it needs to be restored. Dash "pulling"? Wheres the radio cover?

Like they say, "You can pay me now or pay me later".

So maybe you can get in on the ground floor but what is your time worth in fixing this car and will the labor savings be enough to offset the high price of repairs? You could easily dump another 20k into it.

 

Yeah I got a PM for what sounds like a very very nice car for a pretty reasonable price ... seriously contemplating liquidating some of the inventory now .

One basic question ... do all of the post '86 models have the "mouse" seatbelts?. Has anyone put in "regular" seatbelts? Is that what the recall repair is or are they still the motorized things?

Thanks,

Sean

 

the black car is a GREAT deal!

buy that one and you won't regret it

you could have fun putting it to as new but you start with a good car

buy a 20-25k$ project could likely cost you other 35k or more $$$$

 

You are talking about a different car here then...............................not the black one.

 

How is the gear box? Slow windows?

 

Since I haven't warmed up to spending $50k+ in one day I really haven't got into the details with the owner.

Supposedly 8k original miles car ... 2nd owner has the car for sale. If there's any issues with the gearbox the price will have to be way negotiated ... I guess that's why I gravitate more towards rag examples since then I really don't care what's wrong with it .... if I want some pristine car as with any car seems like the seller says "she's perfect" and then when I go look at 'em "they all have those problems" or "80 grit sandpaper scratches is how it came from the factory in that area" ... easier to start with a POS instead of listen to these stories ... I'm not patient with lieing sacks of sheet.



Cheers

 

buying a $20k project takes all the drama out of PPI's for me ... I'd wanna puke if I bought a pristine example and then blew the diff the first week 'cause the car was a "fluffer" with the PO LOL.

cheers

 

so can you put Euro seatbelts in a U.S. car? ... just curious ... not a deal breaker but the earlier cars with the single lug wheels have there +'s and the seatbelts are one of 'em to me.

 

You are not the first person to ask about converting and I imagine it's been done. I would think the attach points are there and the hardest part would be finding the Euro belts complete with hardware.

 

This is a not the black car you are talking about I take it.

 

no red & tan ... black car is more in my budget though.

 

I had those same feelings of trepidation when I bought mine but those feelings were tempered by a number of positive aspects (for me), local owner, lots of documentation, I knew who did the last service and know what was done, accessories that came with car, factory document pouch, tool kit, jack, Workshop Manual, Spare Parts Catalog, Capristo exhaust etc.................

My budget was considerably lower than what the asking price was for this car. I added up the numbers on this one and found that if I went out and bought a "cheap" TR and did what was already done to this car and added the accessories that already on it I would be well over the asking price of the one I bought. Unfortunately the market crashed 6 months later and the prices on these cars dropped considerably, still, I think I got a good car and don't feel I overpaid in the then current market.

I WILL puke if the differential blows on mine so I AM careful but it's a calculated risk I am willing to take.
What are the odds that it will happen on a higher mileage car versus lower?
I've heard that if the differential is going to break it will do it regardless and if it doesn't break after 50k or so it probably won't under normal use. This is just speculation from what I've read about these cars.

From some of the reading I have been doing it seems that there are more problems with ring and pinion on these cars than splitting carriers and there is now an after market source for the gears for a relatively reasonable price.
Happy hunting. It's a good time to buy.
DJ

 

Red is boring......................

 

Those kind of facts would help seperate me from more $$$ .

Thanks for the input.

Sean

 

Just last week a nice TR in red went for 41k on eBay. I think that the black TR in question will be more to fix and restore, making it more sensible to buy in the mid 40's. Even if the black TR were selling at 29k, then add another 20k within 1 year, it still wouldn't equal the condition of a well kept TR selling at 49k. Well kept cars with documentation are listing in the low 50's to mid 40's now. I remember other well driven black TR's last year listing at 47k that were really rough. Granted, they got that way because they obviously were reliable drivers at some time. I believe the owners did the math and decided to buy another car rather than invest to do the needed services.

If you end up buying that black TR because it is cheap, you will be buying it for the wrong reason. No Ferrari is a good buy. The price is the cost of entry, not the price of ownership. The price of ownership does not depreciate, but it will appreciate the longer that car sits.

I got $40k in the bank, I ain't buy'in it.

 

Couldn't have said it better myself.