Advice needed on used car / value

[Scruit]

I broke my ankle 3-4 weeks ago. Did it in really good with severed ligaments etc. Couldn't ride or drive my stickshift, still can't, gonna be 2-3 months until I can.

So rather than renting for 3 months ($2500+) I bought an old '89 Buick Park Avenue and figured I'd drive it until my ankle was better and sell it for close to what I paid. Even if I make a $500 loss then that's 3 months of rental car for $500, can't beat that, right? Plus I work on cars myself so I can fix problems in the car that would be too expensive to take to a shop, maybe even turn a profit on the car?

So I paid a total of $1800 for the car with the following problems...

- Gas tank leaks. I put a new gas tank in there.

- A/C didn't work. I recharged at after it passed a vacuum test, works now.

- Power driver's seat didn't work. I replaced the switch, works now.

- Headliner sagging. I took out the headliner, removed all teh old material and foam and installed new headliner fabric and put it back in the car. Looks like new now.

- Engine was making a squeaking noise. Alternator bearings were shot, new alternator fixed that.

- Automatic headlights didn't work. It was a cracked solder connection, took 2 mins to fix.

- Seatbelt/headlight chime didn't work. Turns out the p/o didn't like seatbelts and the chime bothered him so it was simply removed. New chime module on order.

- Gas line rusted/leaking. Replaced.

Four outstanding problems:

- Check engine light complaining about EGR valve. Going to clean the valve and check all the electrical connections to figure out where the problem is. Probably won't replace it though because it's about $200 and it doesn't affect the car's drivability. May tried a used EGR if I can get one cheap.

- The car has a fiberoptic display that tells you if your lights are working. One brake light f/o cable is disconnected so I have to take out the cluster and reconnect it.

- The central locking doesn't always make the doors lock/unlock. Electrically it's fine, but the locks are really stiff. I will pull out the door panels and lube the mechanicals. Same with front passegebr window - electrically it works, but is stiff.

- The parking brake has never been used and siezed when I tested it. I got it unsiezed by wiggling the cables. I need to pull the hubs and lube the parking brake arms. I am going to do a full brake service this coming weekend. Foot brake works great, good servo assist and good stopping power. Has new brake lines.

The good bits:

- Excepting the above, everything works. This car has electric everything and every button/control/system works as designed.

- The paint is in remarkable condition - just a couple of dollar-sized bits of peeling clearcoat. I have the equipment to spray it too, so I may get some advice from a trusted bodyshop I know and shoot new clear, making the paint perfect.

- The interior is in great shape too. power seats all work and the trim is all clean, secure and there are no heat cracks in the dash.

- The engine and trans are solid.

So, with all this in mind, and understanding that I have about 2200 in the car now, I'm wondering how much more money I can put into the car before I reach the max value I could ever sell it for. Book value for "good" condition is about $2k. Once I have fixed the last few issues above I would put tha car as excellent condition because everything works, and all major systems have been checked/tested/repaired.

So, my question is, with all this in mind, what do you guys think is the highest I could expect to get for this? I don't mind taking a small loss, but I don't want to compound that loss by investing money that I know I'll never get back.

Second question: The car has the factory tape deck in it. Would it be worth spending a couple hundred bucks on putting a CD player in there? Would any of that value be realized on the sale (again, bearing in mind I'm at or slightly above the book value already)

Edited July 11, 2011 by Scruit

[Scruit]

Found this guy here: http://www.walmart.com/ip/Sumas-Media-Automobile-CD-MP3-Player-with-USB-Port/15410847

CD / FM /USB / MP3 for under $50? Just need the dash kit (1.5 din to 1 din) and the factory harness. I can get all that for well under $100. That would be worth it, definitely much easier to sell the car with a CD player in it...

Edited July 11, 2011 by Scruit

[jblosser]

Keep it for a rainy day/backup car, and for the kid to use when he's of age?

I have a '98 Olds as a backup, but have been driving it lately as it beats the crap out of the 3/4 ton, gas mileage and ride quality-wise.

[Carwhore]

for an 89 the biggest thing is going to be condition. so it its in really good condition you can get 2000-2500.

Or just demo durby it, then sell it for scrap and load it with rocks and get 800 out if it that way and have a blast doing it!

[Ron505]

Sounds like a good car for my "soon to be" 16yo. Too bad he is being a punk.

[SpeedTriple44444]

Keep it around. There's a reason you see more Buicks still on the road than most of the other Garbage Motors cars... they are built a little better. I don't know what part of Ohio you live in, but up here in the snow belt they get eaten alive by the road salt. If you can keep the lines and undercarriage from rotting out, you can put a zillion miles on the 3800 motors... they just keep trucking.

I have no idea what it's really worth if you do decide to sell it, but as said above; the condition has everything to do with the value.

[Scruit]

I was plannign on buying a beater and throwing it away (or donating it to Goodwill if it was reliable enough for their Good-wheels-to-work program), but every time I drive this car I'm amazed at how well it has been treated. I saw cars that were ten years newer for the saem price but that was because they all LBTS. This car is in better shape than the 1995 Grand Prix I donated to Goodwill 3 years ago, and that car is still being used by goodwill.

Well, if I can get a CD player in there for under $100 then I'll do it. For me more than anything else.

Hopefully in about 2-3 months I'll be cleared to ride/drive stick again and "The Gimpmobile" will be off to a new owner. We did the "spare car" thing for a while with my wife's old Grnad Prix but it never got driven so every time I DID drive it it needed new rotors from them getting rusted. Plus paying reg and insurance on a spare car was annoying.

[Disclaimer]

Why bother doing ANYTHING more to it? Just sell it as is, and get what you can get.

A $100 CD player isn't going to make or break someone buying a car like that and putting one in themselves if they REALLY have to have it.

[crazy_red]

i AM A USED VEHICLE APPRAISER AT A FACTORY DEALERSHIP. IF YOU SHOOT ME A PM WITH VIN AND MILES, I COULD GIVE YOU A TRADE IN, WHOLESALE, RETAIL,AND LOAN APRAISAL ON IT

[Carwhore]

i AM A USED VEHICLE APPRAISER AT A FACTORY DEALERSHIP. IF YOU SHOOT ME A PM WITH VIN AND MILES, I COULD GIVE YOU A TRADE IN, WHOLESALE, RETAIL,AND LOAN APRAISAL ON IT

did you just start? you don't need the vin and miles to be able apparise an 89

[Scruit]

did you just start? you don't need the vin and miles to be able apparise an 89

Well, I've seen people askign anything from $1400 to $4500 for this car. Honestly, I think it'll be worth between 2200 and 2400 once the last few issues are fixed, but I'll probably have to be patient to find the right buyer who will appreciate the work that has gone into the car.

Again, this is instead of renting, so if I drive it for 3 months then it's a free car to me. I don't mind taking a loss, but of course I'd like to sell it for as much as possible. If the dealer retail in this car is 1500 then I'd be in toruble asking for 2500.

[Scruit]

Car values are such bollocks.

One source came back with $600 trade-in and $1,200 retail.

KBB says ~$1,500 private party sale.

NADA says retail is $3,250 dealer retail sale.

Edmunds says the trade-in value of this car is $100 (yes, one hundred dollars), and "Excellent" dealer retail is $800.

Who the heck is right?

Well, I got time to find the right buyer.

[Steve Butters]

most banks (at least that ive dealt with) use NADA - so thats what i go by when selling a car ....mostly for a car people might be financing though, i dont even bother with book value on something under 5k

[Scruit]

Well I don't think the car is worth $3250, but I sure-as-shit know it's worth more than $100.

[Steve Butters]

give ya tree-fiddy right meow

[Scruit]

give ya tree-fiddy right meow

Damn succubus. </southpark>

Edited July 11, 2011 by Scruit

[max power]

Car values are such bollocks.

One source came back with $600 trade-in and $1,200 retail.

KBB says ~$1,500 private party sale.

NADA says retail is $3,250 dealer retail sale.

Edmunds says the trade-in value of this car is $100 (yes, one hundred dollars), and "Excellent" dealer retail is $800.

Who the heck is right?

Well, I got time to find the right buyer.

Edmunds. If somebody pays you 3k for an 89 Buick, they should get to Roshambeau you.

[scottb]

For the vin request, I am guessing the only apprasal info there would be the 8th digit of the VIN to determine engine type. Maybe even he has access to car-fax, but not sure anything in the former history would matter for a 2K priced vehicle.

[Ziggy]

The thing about older cars like that is that they're worth whatever someone is willing to pay. I personally really like the older Buicks, and were I in the market, I'd definately consider paying a little more than NADA for a REALLY nice one. I wouldn't hesitate to put it out for $2500/obo based on the overall excellent condition. A CD player is a bonus, but won't add anything to the value. As a matter of fact, if you told me the CD player was contributing to your asking price, I'd ask if you'd reduce your price by that amount and sell it to me with the stock stereo or no stereo at all. You're approaching top dollar at $2200 invested... I think anything else you do to it should be only because you want it that way, not because you expect to be able to pull the money back out of it when it comes time to sell.

[Scruit]

The thing about older cars like that is that they're worth whatever someone is willing to pay. I personally really like the older Buicks, and were I in the market, I'd definately consider paying a little more than NADA for a REALLY nice one. I wouldn't hesitate to put it out for $2500/obo based on the overall excellent condition. A CD player is a bonus, but won't add anything to the value. As a matter of fact, if you told me the CD player was contributing to your asking price, I'd ask if you'd reduce your price by that amount and sell it to me with the stock stereo or no stereo at all. You're approaching top dollar at $2200 invested... I think anything else you do to it should be only because you want it that way, not because you expect to be able to pull the money back out of it when it comes time to sell.

I agree 100% on everything. I think the car is worth low 2k, and I would pay that knowing it's condition. But I'm not going to get much more than that in a sale - and to get that high I'd have be be able to prove its condition.

As such, any further investment in the car will be for my own enjoyment, or for safety reasons. If I put another $500 in this car then I understand it will be money I won't get back at this point.