I was approached with an interesting trade for my 64SS and need some input and opinions. Here is a link to photos of my car. I don't have any of the vehicle I'm considering trading for.
http://s1204.photobucket.com/albums/bb409/tricketson/
Original pwr pac 283 engine and rear TH350 tranny and edelbrock carb. Car has about 100,000 miles on it. Original interior (needs seat covers only). Car runs great and has been my daily driver now for 3 years making countless 300to 400 mile trips in a single day returning about 22 mpg and never giving me a seconds trouble. As you can see, the car is an excellent restoration candidate. I paid $1,300 for the car 8 years ago and have replaced the suspension and brake system.
I was approached by a gentleman who has a 76 Corvette with under 100,000 original miles. It is a Red L82 with black interior and is fully loaded including an automatic (I would prefer a 4spd) and has been in his family for the past 20 years. The exterior is in outstanding condition while the interior shows some wear but is serviceable and presentable. Car runs and shifts like new. I know 76's aren't as desireable as other models but I was in high school from 76 to 80 so mid 70's to early 80's vettes where what we dreamed of then and this one is the right color.
I truly LOVE my Chevelle, but, I've always wanted a vette (I'm 48) but had long ago had decided I would never be able to afford one. Now this one crops up!
Two ways of looking at this.
The owner of the vette admitted my car was probably worth a grand or so more (I would basically agree) than his car and has no $$ to pony up with his car. From this view, I would be trading down.
On the other hand, I only have about $2,000 wrapped up in the Chevelle and it has been my daily driver for 3 years and about 35,000 very enjoyable miles. It has certainly paid for itself several times over. From this view point, it seems like a pretty good swap.
While I drive my car daily, it has some surface rust and needs/will need restoration work to save it. The Vette is a VERY nice looking car and would need only seat covers to make it look like it did in about 1978 or so. It would replace the Chevelle as my daily driver and with a/c would probably be more comfortable for the long drives I regularly make for work.
I planned to start restoration of the Chevelle after my Firebird is done but I also have a Mach1 Mustang waiting for restoration.
76 is the last year the name "Stingray" appeared on the Vette. It is an L82 not the base L48 and was built in the nations Bicentennial year. 1976 was a record breaking year for vette sales partially due to an increase in horsepower. I've reviewed values of vettes over the years and they seem to hit a low before they begin climbing again. The 76 values have been slowly raising for the past 5 years or so and I believe the 76 will probably outperform others in the same era for the reasons I mentioned.
While I'm into cars not money, I can't make irresponsible financial decisions based on emotions or let those emotions cloud my financial judgement. Comparing my Chevelle and the money it would cost to bring it's condition up to par with the Vette, it looks like a good trade as far as long term investment is concerned...assuming the 76 Vette follows other year model Corvettes in their historic value paths.
I'm supposed to go take a closer look at the Vette on Sunday. I lost a night's sleep last night mulling it over and would truly appreciate any input you would care to offer.
Thanks,
Tom
64SS
http://s1204.photobucket.com/albums/bb409/tricketson/
Original pwr pac 283 engine and rear TH350 tranny and edelbrock carb. Car has about 100,000 miles on it. Original interior (needs seat covers only). Car runs great and has been my daily driver now for 3 years making countless 300to 400 mile trips in a single day returning about 22 mpg and never giving me a seconds trouble. As you can see, the car is an excellent restoration candidate. I paid $1,300 for the car 8 years ago and have replaced the suspension and brake system.
I was approached by a gentleman who has a 76 Corvette with under 100,000 original miles. It is a Red L82 with black interior and is fully loaded including an automatic (I would prefer a 4spd) and has been in his family for the past 20 years. The exterior is in outstanding condition while the interior shows some wear but is serviceable and presentable. Car runs and shifts like new. I know 76's aren't as desireable as other models but I was in high school from 76 to 80 so mid 70's to early 80's vettes where what we dreamed of then and this one is the right color.
I truly LOVE my Chevelle, but, I've always wanted a vette (I'm 48) but had long ago had decided I would never be able to afford one. Now this one crops up!
Two ways of looking at this.
The owner of the vette admitted my car was probably worth a grand or so more (I would basically agree) than his car and has no $$ to pony up with his car. From this view, I would be trading down.
On the other hand, I only have about $2,000 wrapped up in the Chevelle and it has been my daily driver for 3 years and about 35,000 very enjoyable miles. It has certainly paid for itself several times over. From this view point, it seems like a pretty good swap.
While I drive my car daily, it has some surface rust and needs/will need restoration work to save it. The Vette is a VERY nice looking car and would need only seat covers to make it look like it did in about 1978 or so. It would replace the Chevelle as my daily driver and with a/c would probably be more comfortable for the long drives I regularly make for work.
I planned to start restoration of the Chevelle after my Firebird is done but I also have a Mach1 Mustang waiting for restoration.
76 is the last year the name "Stingray" appeared on the Vette. It is an L82 not the base L48 and was built in the nations Bicentennial year. 1976 was a record breaking year for vette sales partially due to an increase in horsepower. I've reviewed values of vettes over the years and they seem to hit a low before they begin climbing again. The 76 values have been slowly raising for the past 5 years or so and I believe the 76 will probably outperform others in the same era for the reasons I mentioned.
While I'm into cars not money, I can't make irresponsible financial decisions based on emotions or let those emotions cloud my financial judgement. Comparing my Chevelle and the money it would cost to bring it's condition up to par with the Vette, it looks like a good trade as far as long term investment is concerned...assuming the 76 Vette follows other year model Corvettes in their historic value paths.
I'm supposed to go take a closer look at the Vette on Sunday. I lost a night's sleep last night mulling it over and would truly appreciate any input you would care to offer.
Thanks,
Tom
64SS
I want to thank everyone again for all the input I received on this thread. It was all appreciated and proved to be invaluable.
