I have the chance to purchase a 1998 Formula WS6 from a private owner and I need input if i should pursue the car. The owner told me the car isnt for sale BUT he'd let it go for $17,500 if i wanted it. He ordered it new and window sticker is around 28k. The car has 17,XXX miles, 4 speed auto, black paint with ebony leather, t-bar roof. It is stock down to the windshield wipers,tires, and most importantly the SOTL exhaust.

The car hasnt been registered since 2007 and is only started to move other cars in or out. Supposedly never driven with top out, all maintenance was done by owner and no shop ever touched the vehicle.

Whats your thoughts on the price for this car and is it something i should pounce on based on rarity and history?

 

They only made 221 ws6 formulas in 1998 so that is a rare car.

 

Not good that for 12 yrs it's only been started infrequently. So that engine has never been allowed to properly warmup after starting.....which would be fine if the oil was changed annually. While that works ok for a new car lot when cars get sold within the year....it's not so good for cars sitting around for 12 yrs. That alone could be enough for me to walk away from it. Automatic is nothing special....nor is the color. While in a 1998 this a scarcer car, the 2001 and 2002 gather more interest in the regular WS6 configuration. Figure $600 for new tires. Factory coolant still in the car?

I would think there are a lots of better values for your money out there at $17,500. Figure you'll be into it for $18,500 min after catching up on tires, fluid, maintenance, etc. Not a fan of cars that have sat for 12 yrs. Seals don't appreciate that.... especially air conditioning seals. I'd be surprised if that system doesn't need $500+ in repairs.

Pounce on it because of rarity and history? To me, the history on this car is sort of "poor," mainly due to the maintenance. For $17,500 I'd expect to buy a lower mileage Firehawk M6. This car is probably close to fair value at $17,500.....I just think there are better values out there.

 

The car has been off the main roads for 12 years due to insurance being removed since the owner lost interest in it. None of the fluids are original and it definitely needs tires. Oil is changed after every winter and is driven around the backroads. One thing that draws me to this car is that it is an early 1998 so i wont have to worry about the sail panel bubbling. No cracks on wither door panels but will need pulled off to prevent, owner never knew about some common problems with these vehicles.

There are definitely some better deals out there for more desirable firebirds, but if im spending this much on an fbody it has to be a pre-may 1998 car and that leaves a thin selection.

 

As mentioned, after tires, some maintenance, tax, tag, title you may be getting close to $20k when all is said and done. That is perfectly fine in my book if the car is something you truly desire and would keep for many years. I thought I was insane when I bought my T/A new way back in the day. Crazy money but look what I still own after all these years. It breaks down to nothing per year and I still love it! I'm not expecting you to keep that Formula as long as I have owned mine but even 7 -10 years of owning a car you just love is worth every penny even if the car was worthless afterwards. It won't be, that's the plus side. Go get it if you want it. My experience with 'sitting' modern cars is much different from the cars from the 80's and earlier. Many problems with cars that sat from that era. Been there, done that. My most recent purchase was my C6 that I bought in December 2017. It had crazy low miles on it and was never registered, just sitting in a collection for about 8 years. Zero issues. You should be fine. Good luck!!

 

If you're looking for a driver, I'd steer clear, lot of other low mile examples with better usage/maintenance patterns, especially for that coin. If you're looking for an investment, I'd still steer clear, it might be rare but it's rare in a niche that nobody really cares about, which doesn't equate to ROI. Invest elsewhere. Matter of fact, I'm having a hard time thinking of a scenario where this car/price combo would be desirable, but that's just my 2 cents.

As others have said, sitting like that brings on it's own set of issues that I personally wouldn't want to have to deal with. These cars aren't rare, find one that's been used, but not abused and it will probably be 1) cheaper 2) a much more pleasant ownership experience.

 

I agree completely with both of the above mindsets. All things considered, I don't see this car as being a good investment (in terms of financial growth), nor as a good deal on a typical nice driver example. This sort of car falls somewhere in-between; if it's something that you really, specifically want for personal reasons then it's probably worth it. But if you want a true "investment grade" vehicle or just a good deal on a really nice low mile LS1 driver car, then this example is neither.

With that in mind....

I feel the same. To me, not having to deal with this repair is a big bonus. Some folks don't mind, as the later models are generally worth more, but there are a handful of us that assign specific value to the '98s just for this reason. If this car is everything you've ever wanted in an LS1 F-body, AND it just happens to have been built prior to the roof issue, then it would be hard to justify passing it up at anything close to a fair price. I'd say that ~$15k is probably closer to a "fair" price in the general market in this case but, again, there is specific value to the non-bubbling roof for those of us who are aware of the issue and don't want to deal with repairing it. Also, the owner clearly isn't determined to sell the car, so you may have to pay what he wants to get him motivated. In the end, along the lines of what NC01TA said above, I wouldn't loose any sleep over dropping ~$2k more than the car is actually "worth" if it's the exact car you want and you plan to keep it for the long haul. They aren't making any more brand new ~20 year old cars (and rotisserie restoration is currently almost non-existent for cars of this era), so if you are very picky and this one is everything that you want, you might not find a better deal unless you're open to a variety of trim levels/options, etc.

FWIW, I've owned my '98 Z28 since 2004. I've had it so many years now that my original purchase price divides out to be only in the 3-figrue range spent each year, and I still love the car all these years later because it was exactly what I wanted (a near duplicate and "correction" of my first brand new car bought 1999).

As far as mileage/sitting goes, it's really not a big deal if the car was maintained properly for this role. My '98 car had 11k miles when I bought it 15 years ago. It has 18k miles today. I'm pretty strict about how I maintain it though, and it's never sat for more than ~8 months at a time. But, again, I wouldn't be too alarmed about the sitting as long as the fluids and fuel haven't been untouched for all those 12 years during which it wasn't registered/insured.

 

The only thing that sets this car off for me is being a formula ws6, not a fan of black since its the highest production color each year. Ive been searching for over 2 years for a unique firebird and this is the only one that is easily achievable. My ideal car would be a sport gold/maple red/blue green chameleon trans am but ive had a hard time in my search.

There is something special to me about a time capsule car and thats what im looking for. Ive known about the Formula for quite some time and now ive got room in the garage for another car so i stopped by and checked it out. Yes its been neglected and sits more than it probably should but by no means is it a barn find.

 

I would take the owner's current price to you as a starting point....not a take it or leave it. They would not have brought it up if they weren't interested in selling it. Offer $15K. And if they are at all looking to move it, they might just give you a call in a few weeks or months and lower their price.

You can find lower mileage 4th gens that currently show no signs of roof bubbling....and we're now 20 yrs along. My 1999 with 19K miles which I've had for 7 yrs doesn't show anything. And it should remain that way if I keep it out of the hot summer sun when parked.

 

The issue is still there though, and it will still develop into a visible problem no matter how old the car gets if you ever start exposing it to intense heat and/or lots of sunlight. A local friend of mine bought an '02 SS with 20-something thousand miles a few years back. The car showed no signs of bubbles or even waves, I guess the previous owner had either purposely or accidentally avoided enough heat and sun to keep the roof in check. But all it took was one summer of regular car show use and the bubbles starting popping out all over the panel. It's a terrible shame to buy a nice car for nice summer days and then not really be able to freely drive it on....nice summer days.

Panel replacement (or just getting a convertible) is something that anyone will have to accept if they want a late '98-2002 example which can be used on any nice summer day and remain bubble-free indefinitely. The only exception might be an example with a white roof - the underlying condition is still present but the white color absorbs so much less heat that it might be OK in climates away from the equator. I've never personally seen a white roof example have any visible bubbles here in the Chicago region, even ones that have sat outside for long periods, but it might be a different story in places like south Texas for example.