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Did I overpay?

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johndoby

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Discussion starter · #1 ·
Hi guys,

I couldn't decide which forum to post this under, so I hope it's in the right place. Last week, I bought my first Chevelle (actually I bought a 1970 Chevelle when I was 16, but we never finished restoring it). The car is a California car with a very solid body. I felt very good about the purchase at the time, considering that the loan value of the car was $15,000, and comparing it to other deals online. After toying with it for a couple of weeks, I feel like I might have overpayed, but probably not by much if at all.

I paid $10,500 cash, and so far, I've put $3,500 into wheels, tires, lowering springs and a Vintage Air system, which brings me to a total of $14,000. I also plan on disk brakes up front and maybe another mod or two that will bring me closer to $15,000.

Now for my concern...The body panels are very decent, but they have minor ripples and dings throughout. Also, it seems that one of the front quarter panels and the pillar at the rear windshield have some bondo work. It doesn't bother me that much, but I think over time, I'll want to have the car blocked and repainted. Considering the cost of this, I feel like I might have more in the car than I can get back by selling it. Obviously I wont lose money on it in comparison to the depreciation of newer cars, but I dont like to lose money in any circumstance.

A little about the car:

1966 Chevelle Malibu
350 SBC (Originally a 327 car)
Edelbrock Performer 600CFM
Edelbrock Performer Intake Man.
Mild cam (not sure of duration)
Hedman Headers
Flowmaster

Things I've done so far (not yet installed):
Cragar 18x8 wheels front and back
Eibach Pro Kit
Vintage Air

Here are some photos...let me know what you think!

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#4 ·
If the body is solid without rust, it's not likely that you overpaid. IMO, low-rust bodies themselves are worth extra money. Considering that paint can cover a lot of sins a buyer may overlook, you might want to dig a little deeper, such as inspecting the windshield and rear window channels, inside the doors and qtrs, and under the trunk mat.
 
#5 ·
Looks like a sharp car,best of luck with it. I would suggest however,losing the plastic fuel filter(after hearing too many fire horror stories) Also, I would get a fan shroud around that fan. I know from personal experience that a flex fan will split a nuckle to the bone,after my hand slipped while changing the alternator.
 
#6 ·
The reason there may be bondo up front is it appears like the front end has had work done on it. At least the filler panel looks like it has been replaced. A Malibu/SS396 pan has bright trim along the leading edge of the panel and the panel is generally painted Argent Silver. The 300 & 300 Deluxe lacked the bright trim and the panels are painted body color. Here's a couple of photos from my 1966 Chevelle Reference CD.

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Malibu/SS396 filler panel

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300/300 Deluxe filler panel

Rear window rot is very common with 66 & 67 Chevelles due to the design of the rear glass. Assuming the rest of the suspension, like ball joints, a-arm bushings, tie rods, etc. are good, $10,500 doesn't seem too bad from what's visible. The disc brake conversion is well worth the money IMO. BIG difference between stopping these older rides with discs vs. drums up front.

Good luck on the car!
 
Discussion starter · #8 ·
DaleM said:
The reason there may be bondo up front is it appears like the front end has had work done on it. At least the filler panel looks like it has been replaced. A Malibu/SS396 pan has bright trim along the leading edge of the panel and the panel is generally painted Argent Silver. The 300 & 300 Deluxe lacked the bright trim and the panels are painted body color. Here's a couple of photos from my 1966 Chevelle Reference CD.

Image

Malibu/SS396 filler panel

Image

300/300 Deluxe filler panel

Rear window rot is very common with 66 & 67 Chevelles due to the design of the rear glass. Assuming the rest of the suspension, like ball joints, a-arm bushings, tie rods, etc. are good, $10,500 doesn't seem too bad from what's visible. The disc brake conversion is well worth the money IMO. BIG difference between stopping these older rides with discs vs. drums up front.

Good luck on the car!
Click to expand...
I did notice that the grill is different, but I could never figure out what was out of place. I have already set aside money to buy all new Malibu trim. I don't think the damage to the front end was severe, because the bumper brackets are only very slightly bent. I think the bumper and the filler panel was replaced. The bondo on the quarter panel is behind the front tire, where rust normally breeds. I would say the car is 98% rust free, which is pretty good in my experience, but I'm sure there is some lingering here and there that I'm sure to find when it decides to eat it's way through my paint.

Thanks for all of the comments and suggestions! Feel free to add anything!
 
#9 ·
If the thought of recovering your investment is something that bothers you owning this car may be a miserable experience. Quit worrying about the cost of it and the price of things you add. It will always be a financial loser, but that is not the reason to own them.

In your yard is a good example......Why not own a used push reel lawnmower instead of that nice rider. Why? Because the rider is what you want. You can install the parts you just bought and be lucky if they add 50% of the cost to the car. It will always be that way.

Enjoy the car it is what you wanted.
 
#10 ·
Bunz-T said:
If the thought of recovering your investment is something that bothers you owning this car may be a miserable experience. Quit worrying about the cost of it and the price of things you add. It will always be a financial loser, but that is not the reason to own them.

In your yard is a good example......Why not own a used push reel lawnmower instead of that nice rider. Why? Because the rider is what you want. You can install the parts you just bought and be lucky if they add 50% of the cost to the car. It will always be that way.

Enjoy the car it is what you wanted.
Click to expand...
Well said. I have to second those comments. I just spent over $12,000 in body work / labor on my car and have been feeling sick about it for weeks. I finally realized that when it is done it will be what I want. So, like said earlier forget the cost and enjoy what you have.
 
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#11 ·
I have nearly that much in my 66, and it still has drum brakes, and rusty body mounts, no headliner or door panels, no heater, jackleg bucket seats, mismatched brake drums, and mismatched left and right springs, and my fabulous recently homebuilt 350.

Along with some really dated wheels.

But, I always wanted a 66 Chevelle, (despite 30+years of Mustang fever) and this was the best running example I could afford. It will have way more money in it before it is done. After 3 years of owning it, it is finally going to cruise nights!!!!!!

Same with my other toy. What started out as $50 body, is now well over $10k plus, and still only runs 12s.

Don't care, love them both. If the enjoyment is not priceless, you may be in the wrong hobby.
 
#14 ·
I bought a pretty complete, nicely done '67 in December, and I've still managed to put a few thousand into it. That's just the way it is! Amen to the comment about the 18" wheels. Low-profile rubber on big wheels might look ok on a lowered '69 Camaro, but probably not on your '66 Malibu. I replaced a set of Cragars with 15x8 Rallyes in back and 15x7s in front with 255 60s in back and 235 60s in front. Given the pic of your car, I think that setup will fill your wheelwells nicely, and the car will have a nice stance. But it depends on what look you're after. I also have a 350, and not quite certain of the cam specs. But I replaced a 600cfm Holley with a 670 Street Avenger, and the difference is huge. I'd definitely do that.
 
#16 ·
I personally don't think you should be into this being concerned about resale value. It's a hobby, hobbies cost money. I've dumped way more into my 70 than I'd ever get back if I were to consider selling it, which I'll never do anyways.
 
#18 ·
I don't think very many people get their money back when they sell their classic cars, with the possible excaption of shops that do it for a living and are paying only 20% of your cost for parts.
 
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Discussion starter · #20 ·
Bob Flynn said:
nice car, but why would you want to lower it ?
Click to expand...
I'm not going with anything radical...a little over an inch in front and back. I mainly wanted a stiffer spring, as it drives like a boat at the moment.

Someone else commented about the 18" wheels as well. I haven't mounted them yet, but I sat the wheel next to it and it looks beautiful to me. These cars are so large, that they need one of two things -- big wheels, or big tires -- to make them look proportioned in my opinion. I am fairly young as well, so I'm sure my personal taste is different than many. Also, the wheel I chose is a larger version of the classic Cragar S/S, and it fits the car's character very well.

Thanks for the comments!

John
 
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