1971 LeMans - Looking for Your Opinions

aogburn1

aogburn1

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I am looking at purchasing my first LeMans project vehicle. The current owner had some questionable choices in interior but I would really like to get the experienced opinion of this group to tell me what this car may be worth. I like the LeMans/GTO look and if I purchase the car I would probably switch out the wheels and paint the car yell with a black stripe and go to one color for the interior.

The owner's description:
"1971 Pontiac Lemans convertible, with a rebuilt 1975 Trans-Am 400 engine and transmission with less than 3000 miles. B&M component transmission and slap shift kit rated at 600hp, new carb and intake, new battery, aluminum radiator, new tires and wheels, new top. Grant removable steering wheel, custom interior, minor rust on right door rocker panel, needs minor cosmetic repairs and paint, mechanically sound."

The images from the owner:
http://img29.imageshack.us/g/012re.jpg/



The owner thinks it is worth $12000. I have not seen the car in person yet. But I plan to travel to the car next week.

What I would like to ask for is the forum’s honest opinion (I do not own this car yet, so don’t pull your punches) of what a reasonable asking price for this car maybe.:rolleyes:

Thank you all in advance…
 
Any older muscle car is going to be in the upper price ranges no matter what the condition ..
so it all boils down to what do you want to pay ??
these cars are getting harder to find so the prices are not going down anytime soon ..
being a convert is a plus ..but like you said the interior is something you would either love or hate ..

just off the top of my head mabye 7-8k would be a better price, if it needs any body work at all ..
it adds up quickly and could kill your investment..
 
I absoultly hate Nada or any of the other "guides" when you are talking about a car thats 20+ years old .. you have to take into account that many things may have been changed over the years and Nada uses "stock" equipped car value
which in an older car you will hardly ever find one with original equipment
(as this one obvoiusly has changes) made that are hard to judge what it will be worth with these mods
add into that the cost of making any repairs needed to the body chassis or even if the top is bad ..and you can very easily end up with a ton of money you would never see down the road ..
I have done restorations on muscle cars for over 20 years and know firsthand people tend to invest too much into a purchace without understanding what it costs to restore one ..
even to just a decent "driver" status ..
at that the less you pay the better off you will be if it needs work ..
(and this one will need work )..
______________________________
 
Goatman said:
I absoultly hate Nada or any of the other "guides" when you are talking about a car thats 20+ years old .. you have to take into account that many things may have been changed over the years and Nada uses "stock" equipped car value
which in an older car you will hardly ever find one with original equipment
(as this one obvoiusly has changes) made that are hard to judge what it will be worth with these mods
add into that the cost of making any repairs needed to the body chassis or even if the top is bad ..and you can very easily end up with a ton of money you would never see down the road ..
I have done restorations on muscle cars for over 20 years and know firsthand people tend to invest too much into a purchace without understanding what it costs to restore one ..
even to just a decent "driver" status ..
at that the less you pay the better off you will be if it needs work ..
(and this one will need work )..
Click to expand...

Goatman, I agree with your NADA comment.
Sellers think their rust is worth whatever NADA quotes, then tie that in with a seller that has fallen on rough times and he needs to get as much as he can for his family heirloom to help with finances and prices are artificially high. There are bargains to be had but they are far and few between and they are often scooped up by the folks that buy and sell old cars for a profession.:(

I think I may have the seller down to trading me this car for my 1950 Willys wagon (http://img57.imageshack.us/g/pa250017.jpg/ ) with no cash exchanged.

But that still may not be a great deal!:rolleyes:
 
Yah, you defenately need to be cautious when looking for an older car even for a project..
I have seen some really bad choices made when people have brought me cars to restore ..
so defenately look it over well before making a decision ..
although if it's anything at all shape wise, a convertable is the way to go!
 
Probably too late for this post:
Personally I tend to be concerned about the FACT that the Motor and Trans are from a newer Model of Trans Am being that the Car is a '71 with a rebuilt
'75 Coupling.
Is it Posi or Peg Leg?
How have the miles driven (-3000) been driven?
Rough with lots of Wheel spin or minor Wheel spin?
I tend to believe MAJOR Wheel spin considering the Power package.
12 grand for a NON ORIGINAL is a bit TOO MUCH and seems the owner is wanting to recoup the costs associated which doesn't happen except sometimes in TRUE ORIGINAL CLASSICS with reasonable number matching components.

Reads like a project car that went south and the builder/seller is wanting to unload it.

Trading a '50 Willys seems like the seller of the the Lemans (Lemons?) is getting a deal.
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So how did the trip and view go??
 
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