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Advice on 68 Malibu...

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I am a 16 yr old student with a part time job and I am considering buying a Chevelle. I live in Saskatchewan, Canada so these are relatively rare. I figure I will have $6000-7000 Canadian in a couple months to do this ( $4000-5000 US ).
I have the opprotunity to purchase a 1968 Chevelle Malibu for $2000 Canadian ( $2500 with rally's wheels) I figure I could get the car for maybe $1600 or so Canadian. It originally came with a 307 4bbl and a 3 spd powerglide transmission. The owner put in a 300HP 350 4bbl from a 1970 Impala, it also has dual exhaust. The engine was redone 60K Miles ago and it uses 1 litre of oil every 1500 miles.
He redid the exterior in the late 80's but now it needs both rear quarter panels and one fender otherwise the body is good. The car also has a vinyl roof ( which I would be removing).
The Chevelle has a split bench, power steering, and a Pioneer tape deck ( not original :). He claims all the trim, etc is there and its all good. The car also has 200,000 miles on it. As far as the interior he said it might need new door panels.
With the 300 HP gross, what is the net HP? That 3800 lb Chevelle is a lot of weight to lug around and Ideally I would like a low 14 daily driver out of it. I figure that the car should be mid-high 15's as it is. What do you think?
Here is the budget breakdown I figure it would take to make a nice daily driver:
$6500 - $2000 for the car = $4500 left.
$500 for fender and quarter panels ( find a junked Chevelle somewhere for it.) = $4000 left.
$1750 for paintjob = $2250
$500 for misc. interior work
meaning around $1750 left for stereo, performance parts. What do you think of this plan? Thanx
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Premium Member
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well, speaking as a 68 chevelle lover, just keep in mind your priorities. Do you want this thing to look good and then go fast? Do you want maybe something that will last a long time? How often will you be driving? What I would do is get the chevelle as mechanically sound as you can so that you'll be sure of its reliability. Then go and get the car lookin good. If you want this car for a long time remember that more prep work (cleaning, repainting, welding in new patches of metal instead of covering up rust..etc.) on the car will lead to better quality in the long run. I wish I was in your position again because I think that I know a lot more about what I should have done. Hopefully I'll be getting another 68 this summer. If you want some really detailed advice...E-mail me and be happy to go on a huge advice rant!

-Joe Y.
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