Trying to figure out the value of my car.
10-21-2018, 05:24 PM
#1
Trying to figure out the value of my car. I've been toying with the idea of consolidating my garage lately. I love having two cars, but I think my fond memories of when I had free time(inb4 I was taking 6 classes and working) with my TA are making it hard to get rid of it, despite being in need of an engine rebuild. I don't have the time to maintain a heavily modded car, but I really want to get back behind the wheel of something quicker than a 14 second car more than two days in a row again.
This leads me to my question: the car is a '96 m6 Formula, TA bumpers and trim(cloth seats though. Much more friendly on sunny days.) 150k on the odo, bottom end is from a b-body with unknown mileage, but was clean enough to be well under 50k. Top end is AI ported intaked on top of 200cc heads, with an LE cam. All together it should be good for a little under 450 crank. All supporting mods are done: intake, full exhaust, electric cutout, etc.
The suspension is Koni yellows with Strano Springs, tubular LCAs, tubular panhard support, BMR adjustable tubular panhard bar with a rod end. Poly bushings have been used to replace all rubber, including engine and trans mounts. The only exception is front control arms.
As for the rest, the interior is in pretty good. The accessories include a wideband, full sound system(Alpine, Polk, and Kicker), LS1 rear brakes, and C7 Z06 replica wheels with new tires.
The only issue is the bottom end has a spun bearing. It needs rebuilt, and then should be a solid low 12's car.
What do you think that this would be worth? I have a number in mind, but I don't want to ask too much or too little for it.
This leads me to my question: the car is a '96 m6 Formula, TA bumpers and trim(cloth seats though. Much more friendly on sunny days.) 150k on the odo, bottom end is from a b-body with unknown mileage, but was clean enough to be well under 50k. Top end is AI ported intaked on top of 200cc heads, with an LE cam. All together it should be good for a little under 450 crank. All supporting mods are done: intake, full exhaust, electric cutout, etc.
The suspension is Koni yellows with Strano Springs, tubular LCAs, tubular panhard support, BMR adjustable tubular panhard bar with a rod end. Poly bushings have been used to replace all rubber, including engine and trans mounts. The only exception is front control arms.
As for the rest, the interior is in pretty good. The accessories include a wideband, full sound system(Alpine, Polk, and Kicker), LS1 rear brakes, and C7 Z06 replica wheels with new tires.
The only issue is the bottom end has a spun bearing. It needs rebuilt, and then should be a solid low 12's car.
What do you think that this would be worth? I have a number in mind, but I don't want to ask too much or too little for it.
10-22-2018, 10:25 AM
#3
the interior is about a 7/10, only because I replaced the center console with a slightly more faded one, and the carpet in the back has a 2" stain from a spilled chocolate shake
10-22-2018, 06:06 PM
#4
In summary, 150,000 mile modified LT1 Formula with heads & cam, non original motor with spun bearing, paint that needs reconditioned, mismatched interior console, that has TA bumpers.
Difficult to evaluate the condition of the T56, clutch and rear end, AC, fuel pump etc when car needs that sort of motor work for the buyer.
$500 in current condition.
With engine fixed, paint buffed, good tires, working AC and current maintenance probably $6,000 to $7,000 to the right buyer.
The modified suspension and engine with heads & cam, and unique color may narrow the potential group of buyers.
At $6,000 to $7,000 valued you car at exactly the same price as I valued my black LS1 99 TA with heads & cam, similar suspension and condition. Early last year when attempting to sale. Car was in very good mechanical condition, running and driving with good tires and good cosmetic condition. Four buyers expressed serious interest and agreed on prices between $6,000 to $7,000 at various points. One couldn't get his dad to lend him additional money. Two got nervous about modified engine. One decided the M6 was too much hassle for daily driving and got an automatic.
I got annoyed with tire kickers and the TA ended up with a 416, Magnum & 8.8 rear. Happy I kept the car. Suspect the same might be the case if you repair the Formula.
Difficult to evaluate the condition of the T56, clutch and rear end, AC, fuel pump etc when car needs that sort of motor work for the buyer.
$500 in current condition.
With engine fixed, paint buffed, good tires, working AC and current maintenance probably $6,000 to $7,000 to the right buyer.
The modified suspension and engine with heads & cam, and unique color may narrow the potential group of buyers.
At $6,000 to $7,000 valued you car at exactly the same price as I valued my black LS1 99 TA with heads & cam, similar suspension and condition. Early last year when attempting to sale. Car was in very good mechanical condition, running and driving with good tires and good cosmetic condition. Four buyers expressed serious interest and agreed on prices between $6,000 to $7,000 at various points. One couldn't get his dad to lend him additional money. Two got nervous about modified engine. One decided the M6 was too much hassle for daily driving and got an automatic.
I got annoyed with tire kickers and the TA ended up with a 416, Magnum & 8.8 rear. Happy I kept the car. Suspect the same might be the case if you repair the Formula.
Last edited by 99 Black Bird T/A; 10-22-2018 at 06:44 PM.
10-23-2018, 02:21 PM
#6
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The market for LT1 cars is pretty soft, not much demand at all unless you have something really special (Firehawk, Z4C SS, etc.), and even then it's got to be really nice and low-lowish mileage. In your case the M6 is a bonus, but the high miles, paint/interior issues and custom color (color change cars are only as good as the job was thorough) will limit the buyer pool as mentioned above.
The fact that the engine needs a rebuild means that the car isn't really going to be worth more than the combined value of all its reusable parts on the used market. But, even then, there is the matter of labor to pull all that apart and sell, so this would be factored into any value estimate from a potential part-out buyer. Or, someone might want to rebuild, fix what is needed and drive/race/sell the car whole. Either way it's a project, and the base vehicle itself will never be particularly valuable so it would have to be a labor of love (done by someone wanting a project - which is usually someone looking for a deal and rarely someone willing to pay top dollar) or a project of profit for the potential buyer if their goal is part-out or fix-and-resell.
I'd say that yours is probably worth a bit more than whatever otherwise comparable rollers are going for in your area, due to the reusable drivetrain parts included with the car. I know you said that time is an issue for you right now, but parting it out might net you the best return.
The fact that the engine needs a rebuild means that the car isn't really going to be worth more than the combined value of all its reusable parts on the used market. But, even then, there is the matter of labor to pull all that apart and sell, so this would be factored into any value estimate from a potential part-out buyer. Or, someone might want to rebuild, fix what is needed and drive/race/sell the car whole. Either way it's a project, and the base vehicle itself will never be particularly valuable so it would have to be a labor of love (done by someone wanting a project - which is usually someone looking for a deal and rarely someone willing to pay top dollar) or a project of profit for the potential buyer if their goal is part-out or fix-and-resell.
I'd say that yours is probably worth a bit more than whatever otherwise comparable rollers are going for in your area, due to the reusable drivetrain parts included with the car. I know you said that time is an issue for you right now, but parting it out might net you the best return.
10-23-2018, 02:37 PM
#7
The market for LT1 cars is pretty soft, not much demand at all unless you have something really special (Firehawk, Z4C SS, etc.), and even then it's got to be really nice and low-lowish mileage. In your case the M6 is a bonus, but the high miles, paint/interior issues and custom color (color change cars are only as good as the job was thorough) will limit the buyer pool as mentioned above.
The fact that the engine needs a rebuild means that the car isn't really going to be worth more than the combined value of all its reusable parts on the used market. But, even then, there is the matter of labor to pull all that apart and sell, so this would be factored into any value estimate from a potential part-out buyer. Or, someone might want to rebuild, fix what is needed and drive/race/sell the car whole. Either way it's a project, and the base vehicle itself will never be particularly valuable so it would have to be a labor of love (done by someone wanting a project - which is usually someone looking for a deal and rarely someone willing to pay top dollar) or a project of profit for the potential buyer if their goal is part-out or fix-and-resell.
I'd say that yours is probably worth a bit more than whatever otherwise comparable rollers are going for in your area, due to the reusable drivetrain parts included with the car. I know you said that time is an issue for you right now, but parting it out might net you the best return.
The fact that the engine needs a rebuild means that the car isn't really going to be worth more than the combined value of all its reusable parts on the used market. But, even then, there is the matter of labor to pull all that apart and sell, so this would be factored into any value estimate from a potential part-out buyer. Or, someone might want to rebuild, fix what is needed and drive/race/sell the car whole. Either way it's a project, and the base vehicle itself will never be particularly valuable so it would have to be a labor of love (done by someone wanting a project - which is usually someone looking for a deal and rarely someone willing to pay top dollar) or a project of profit for the potential buyer if their goal is part-out or fix-and-resell.
I'd say that yours is probably worth a bit more than whatever otherwise comparable rollers are going for in your area, due to the reusable drivetrain parts included with the car. I know you said that time is an issue for you right now, but parting it out might net you the best return.
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10-23-2018, 07:30 PM
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I don't know what pricing is like in your area (and it will probably be a local sale since the engine is hurt) but, again, I would put its value at comparable roller pricing plus ~50% of the used parts value (because they are still installed on the car and being sold as a unit - not worth as much that way) of all the other good items/bolt-ons that come with the car above and beyond typical stuff included with a roller. Add those numbers up, and I think it might be pretty close to a good starting point. I don't have an exact dollar figure for this because I don't keep a close eye on roller values nor on the used prices for all those parts.
Point being, with the engine hurt you're selling a project; a shell plus a bunch of parts (some good, some not so good). It's not quite the same as estimating value on a car that can be driven home and presumably put right into regular use with nothing more than perhaps some minor repairs or basic maintenance.
Point being, with the engine hurt you're selling a project; a shell plus a bunch of parts (some good, some not so good). It's not quite the same as estimating value on a car that can be driven home and presumably put right into regular use with nothing more than perhaps some minor repairs or basic maintenance.