current rusty driver-ok 64 356c value?

[Matt Monson]

Then your best recourse is to offer $15k and see if he takes it. If not don't lose any sleep over it. I would have slit my wrists if I got worked up over my missed deals.

[Patrick3000]

Originally Posted by Matt Monson

Then your best recourse is to offer $15k and see if he takes it. If not don't lose any sleep over it. I would have slit my wrists if I got worked up over my missed deals.

^ This, face to face, cash in hand. Show him the money and tell him take it or leave it. That is your only shot at buying this car but I said it before you should walk and send the buyer a thank you note

[COLB]

Wasn't trying to be insulting with the miata comment -- I've had one, and they are great cars.

My point was that if you are serious about getting into this car, you should consider using it as a entry into DIY. Because otherwise it is a financial trap given your financial topline.

Gotta say, the seller sounds like a bit of a flake. Hope it works out.

[CountD]

These are always the most excruciating, losing-sleep, 'is it gonna happen', mind bending, time-warping, thought-provoking, no rationale, mind-trick, vulcan mind-probe, game playing sort of deals that leave you hanging on the edge of your seat - and they seldom work in your favor. It's either for sale or not.

To this guy and to guys I have dealt with on these types of deals it's about some strange and deranged power trick. Offer him $500 over $15K and if it isn't what he wants just walk. If he really had a price in mind he would have told you. This other guy is obviously offering more so in the end it's a mind-*** for you.

I would tell him what it is. And then wait for him to call YOU. He's not gonna cave to pressure and before you know it he's gonna 1) sell it to that guy for no rhyme or reason or 2) keep it as it he wasn't serious about selling anyhow. It's a tough spot to be in. It blows.

[BK911]

I would pay $20k for just about any matching numbers 356 in almost any condition. 20 is the new 15. 50 is the new 40. Just the way it is. But now or possibly never get the chance again.

[linter]

thanks, all, for all your thoughts and suggestions. in other related news, yesterday i met a guy (in person, not via the internet, sorry to any who PM'd me) who is willing to either pay me a finders' fee for the car or go in on it with me, 50/50.
question 1: what generally is the finders' fee in a situation like this?

Like BK911, he thinks the car is safely worth buying at $20k and would not pay more no matter what the other party does. btw/this man has bought, restored and sold lots of P cars and i am 100% sure he knows his stuff (and is honest).
so, my current plan is to try to buy the car on my own up to $15k but if it goes beyond that, i'd either do the 50/50 thing or the finders' fee.

[linter]

So ... I backed out and let the seller do what sellers do and he's now got a final best offer on the table: $27,500. If I go to $28k, it's mine.

I had a friend look at the car (I'm out of state right now) and he said the rust isn't as bad as previously thought. IOW, he couldn't poke his finger through any of the suspect places.

Reminder: 1 owner car, original interior (tattered), original matching-numbers engine (ie not rebuilt), repainted once in the 70s (in the original color), all paper work present, tool kit present. Runs well enough.

A well-connect Porsche guy I know told me that even at 28, you could not lose money, and that prices are skyrocketing.

Since it's drive- and road-worthy, I'll probably drive it for a while, then decide what to do based on the state of my wallet.

Thing of it is, I do have the money and it is sitting in a bank account earning zilch.

Am I nuts to even think of doing this?

Owner needs an answer tomorrow.

Thoughts?

[faverymi]

It seems you have the dough to buy it.

It seems you want it.

It's drivable , one owner, complete and running. And you don't mind fixing it as you go and your wallet permits.

If I was you I would buy it. But again that is me.

[COLB]

Unless you are spending the rent money, what is the downside?

It isn't going to suddenly be worth nothing. Buy it, and if it ends up being too much work, resell it. You are basically out the transaction costs.

Just don't partially disassemble it, stuff the jumbled parts in cardboard boxes, and you probably can't go to far wrong.

[69-912-swt]

If its a 1964 356c I will take big $$$ the cash getting it drivable. Not too many mechanic's around to work on a 356's. I grew up on old VW's and 356's and not many new parts have been made since 1969 the last year Porsche made the 616 motor. I would bet $$$ the motor has been rebuilt a few times in it's 50yrs lifetime Just check how much a set of main bearings are today. !!! A finger test doesn't work on a old Porsche, get a ice pick and a thin refrigerator magnet to check for BONDO !!! I would do a quick flip, let some else get too deep in a restoration and lose time and money !!!

[NYNick]

$28K for a 356C? Sounds like a pretty good deal, unless the rust is terminally cancerous...which I bet it is.

I made a deal with myself a long time ago. I will never buy a rusty Porsche again...ever!

[ficke]

I have regretted many more cars I did not buy than ones I brought. Buy it. Have fun with it as is. More than likely you will get your money back and if you do not you will have had a good time for a few thousand dollars, that is a cheap vacation. Just resist fixing anything more than drivability stuff. No restoration, especially rust repair.

[G450X]

What happened to your $15k cap? Now you're up to $28k? At that price it's a much tougher sell for me since it needs so much work.

I dealt with rust on old Alfa GTV's, (and I'm a DIY guy with a shop) and they "beat" me. I sold them ('71 & '73) moved to the more solid later 911 chassis for my fun driver and haven't looked back.

I have a few "Rustang" projects ('67/'68 fastbacks) that were bought cheap as future retirement projects, but I can tell you I'm not looking forward to the repairs - even with inexpensive parts you need the proper equipment, space & skill to tackle these repairs (and I have a nice shop with a lift now).

If you cannot tackle most of the repairs yourself, I'd pass and save up twice the money for a decent example. Make sure that you really want a 356 - at near $30k for a rough non SC model there are other interesting classic cars to think about. Have you ever driven a similar 356 for a fair amount of time?

[CountD]

Originally Posted by G450X

What happened to your $15k cap? Now you're up to $28k? At that price it's a much tougher sell for me since it needs so much work.

I dealt with rust on old Alfa GTV's, (and I'm a DIY guy with a shop) and they "beat" me. I sold them ('71 & '73) moved to the more solid later 911 chassis for my fun driver and haven't looked back.

I have a few "Rustang" projects ('67/'68 fastbacks) that were bought cheap as future retirement projects, but I can tell you I'm not looking forward to the repairs - even with inexpensive parts you need the proper equipment, space & skill to tackle these repairs (and I have a nice shop with a lift now).

If you cannot tackle most of the repairs yourself, I'd pass and save up twice the money for a decent example. Make sure that you really want a 356 - at near $30k for a rough non SC model there are other interesting classic cars to think about. Have you ever driven a similar 356 for a fair amount of time?

Words of wisdom right here. There are always other alternatives - though as human beings we get caught up with what our mind is focusing on, beating out the other guy, 'best deal in the world I have ever come across', etc.'

From $15K to $28K that's a $13K difference. Sure in the 356 world this doesn't mean much right now. I mean, if you have the money, why not? You'll never lose it. If you want something sweet buy a very clean 911 Carrera and be done with it. It will bring the same amount of smiles and you could take serious road trips with it. The 356 is an OLD CAR. And they drive like one too.

[CountD]

Originally Posted by NYNick

$28K for a 356C? Sounds like a pretty good deal, unless the rust is terminally cancerous...which I bet it is.

I made a deal with myself a long time ago. I will never buy a rusty Porsche again...ever!

Lots of great advice coming through on this thread so I am quoting and commenting. Great advice here. Time is precious.

[linter]

thanks for all the suggestions and thoughts. i spoke to the owner, nearly went all in at 28 but suddenly decided against it and said that if everything fell through, i'd pay 25k. i expect that's the last i'll hear about this car, which, given the price i'd have to pay, doesn't make me feel too bad at all.

[zakthor]

Originally Posted by COLB

If you have no time or inclination, I would suggest a 1st gen miata. Not as cool, but a blast to drive, cheap to acquire, and don't break much.

I emailed The Maestro (aka Harry Pellow) 'round 'bouts 1996 (mostly to thank him for his books and humor) and he warned me off the 356 with the same advice: the first gen Miata is the modern replacement for the 356 and it is what he'd get.

[CountD]

Originally Posted by zakthor

I emailed The Maestro (aka Harry Pellow) 'round 'bouts 1996 (mostly to thank him for his books and humor) and he warned me off the 356 with the same advice: the first gen Miata is the modern replacement for the 356 and it is what he'd get.

Awesome story. But I would get a BMW Z3 over a Miata. Just as reliable. A little better if you are over 5 foot 7 inches. The Miata doesn't fit me very well. I wouldn't have sold my Z3 unless the oldest tree in Ocean Beach didn't fall on it...but then again it was all just cosmetic but I was moving 3200 miles away and I had to cut my losses.

The BMW Z3 is a brilliant and inexpensive used car. I drove it everywhere - to Colorado, Vegas, Oregon, etc from San Diego. Never missed a beat. And got 32mpg with that buzzy four-banger. I do see a Z3 M on the horizon though.

[zedsn]

I own a 1965 356c and a 1996 miata and they are both great cars!