Rabada

First of all let me say Hello, this is my first post in these forums.

I am 19 years old and I currently have a 1997 V6 firebird convertable with 124,xxx miles. I also own a 1974 camaro with a bad engine, it was my birthday present for when I turned 17. I only got to drive it for a week when the stock engine broke. My father and I spent all summer replacing the engine with a Z28 that was completely re-built only to find out that the new engine has no oil pressure. My dad says that he knows a place that will work on the engine and get it running, check out, and dynoed. This will probably cost about $1500.

The other option is to pay off my car loan on the firebird. I have about $3,000 left on it. Once I pay it off I can sell it and buy the Trans Am that I really want.

The Camaro is cool but I really got turned off of old cars by all the problems that we have had with it. I would like a Trans Am much much more. The camaro is a 3 speed automatic with a shift kit and a really low rear end ratio (4.10 I think). I would buy a 6 speed WS-6 or formula. I love driving stick and hate automatics.

Since I only work part time and I am in college, money is kinda scarce for me, it is going to take a long while for me to come up with either amount of money. My question is, what should I do first, pay off my firebird and get a trans-am, or get my camaro running?

~JOSHUA

iTrader: (92)

It sucks being that young. I remember when I was in your shoes. Even if you wax the v6 and get it spotless, then sell it for at least what you owe, you still don't have the credit history ,downpayment, and most likely no co-signer to get the Trans-Am.

I think you're stuck with the situation you're in until you get some credit built, move out on your own so you don't have to answer to pops for your choices, and spring for the car you want in the future.

Being 19 sucks, I had nothing back then, it feels like just last year. You'll be suprised how fast time will go by and if you make the right choices now (build whatever good credit you can) you'll end up just 5-7 years later with everything you want. It worked for me. ~Joshua

Rabada

I can get my parents to cosign the loan. Also the car loan is currently in my name and I am paying it off much faster that I have to. Basically I am deciding whether I want a trans-am first or a old camaro.

~JOSHUA

iTrader: (92)

Only you can answer that question, but judging from the 1st post, it sounds like you already know what you want. Now you just need to be forceful and treat the '74 like a machine. It doesn't have feelings, life is so short. In 55 years you are going to be dead, so you might as well make an effort to get the Trans Am (which I can tell is really wanted) and enjoy your youth and life.

LS1Aggie09

iTrader: (25)

you have been driving one of these cars for a while so you should be able to handle the power of an LS1 better than most other 17 year olds out there...and as far as fixing the old camaro, it depends whether you really like that body style (i personally dont and it seems as if they are just never as powerful as the modern day cars and certainly not as reliable for spending around the same as you would just outright buying a decent shape 100k to 125k mile LS1). Good luck with whatever you do!

Rabada

I am not worried about the power, I have driven my dad's '94 vette a few times and my sister's 95 LT1 quite a bit. (both automatics though)

Thanks firehawk #608, you are quite insightful. However I must say one thing. I will never die. Go ahead and call it teenage idiocy, but I don't worry about death, I just think that it would be another stressor that I don't need.

Back on topic, I did some math with my earnings and I think that it would be best if I went ahead and paid off the firebird. I should have that done by winter, which means that I will be looking to buy a trans-am then (which also means that I will be selling a convertable then). The 74 could then be a project car for the spring, and hopefully have it running by the middle of summer.

Thankyou all for the advise.

99camarosupersport

iTrader: (6)

Yeah man, spring for the LS1.

sgt0704

iTrader: (3)

ha, sell the 74 and the bird, you should have enough for some type of down payment on the trans am.

Rabada

What's funny is with the shape the 74 is in and the engine that we are putting in it, I could probably sell it for the price of a Trans Am. My father absolutely refuses to sell it though. He thinks that I will regret selling it later. He says that it is my first car. (first car true, although my first vehicle was a 5 speed ranger. I only got the drive the camaro for less than two weeks) He believes that it will only go up in value (probably true). Oh Yeah, he paid for it (unlike my firebird) so I pretty much lost the argument.

GreaseMonkey83

iTrader: (5)

get a ws6 6-speed and let your dad drive it, he'll forget all about the camaro.

Rabada

wow, my family will soon come upon some money, so my friends and I are going to yank the engine out of the '74 and my dad will pay to get it fixed. I can still put all my money towards a trans am!

EDIT: When I pay off my 97 firebird convertable with 130,xxx (I guess about that much when I am done with it) should I trade it in with a dealership that I would buy the trans am from or try to sell it seperately? (assuming I don'y buy from an individual)

sgt0704

iTrader: (3)

sell it seperately. you won't get dick for it from a dealership. and then they'll turn around and sell it for twice or three times as much as they gave you for it.

Ellis Fox

sell the vert and the 74 seprately private party to get the TA, or sell the vert and drop an LS1 into the 74

Renegade

iTrader: (1)

I love old Camaro's but it's obvious what you want and what is more practical. With an LS1 you'll have a newer car with all the modern conviences as well as something more reliable. I think you'll be very happy with an LS1 car. I had the same choice to make when I was 16, I could either restore my 64 Impala SS, or buy an LS1 Camaro... I chose to buy the LT1, and restore the Impala when I was out of school and had the money to do a frame-off and really make it a cool car. Two years later I'm sitting in my dream car, a 98 LS1 Z28. And I'm loving every minute of it, sure I want to have some cool old cars when I'm out of school and have more money to play with, but at the age of 18 I would rather have something fast, reliable, and still cool as hell. Buy the LS1, and restore the Camaro when your older.

99 Black Bird T/A

iTrader: (4)

Actually, there are a few questions for one to consider first. I've racked up just under a million miles driving 3rd & 4th Gen fbodies and a 72 Vette.

An 02 Trans Am is about 17 model years and a 98 is about 21 years old. Well cared for LS1 4th Gen's are very reliable with proper maintenance. At the 20 year mark repairs for fuel pumps, water pumps, radiators, starters, AC compressors, coil packs, leaking pinion seal on the rear end, clutch, power window motor failures, head light motor failures, cracked PVC hoses and so on can be a part of of owning the car. Costs for tires, tax, tag, insurance & gas can quickly add up. After making payments on your Trans Am is there still enjoy cash flow for $100 of gas a month, $50 of insurance, and putting away $75 a month for repairs & tires that are bound to be needed? In other words the true cost to own the car for 3 years will probably end up being monthly payment plus $200 to $250 in other expenses. If your personal budget is still good and you can afford beer etc go for the 4th Gen TA.


If the car will just be a fun car for college to party etc, with no intention of keeping after college, I'd keep the 97 convertible.

Likewise, if you want to have a nice Trans Am and keep for a long time, spending four years at college may result in a lot of cosmetic wear and tear on the car. The folks I went to college with would have been likely to puke in the back seat as not

My guess is your dad would like to do father and son projects getting the 74 Camaro sorted out. It's sad that the first two years of ownership got off to a rough start. Working on that old 74 Camaro could end up being an excellent education in its own way. Many times cars like that will force you to learn and grow.

BTW - if you get the Trans Am, don't do what a lot of folks used to do back in the day and finance $10,000 worth of mod's on a credit card. Saw that blow up in several people's face when after they maxed out their credit, they broke something and their car ended up sitting for two semesters.

WhiteBird00

iTrader: (4)

That 19 year old in the original post would now be 31 and may have kids and a minvan.

RPM WS6

iTrader: (3)

^ Yep, 12+ years later I have to imagine that the OP has long since made a decision and then some. Or, at the very least, his situation has changed quite a bit. I think we can bring this one to an end.