How much for a 98?

[rubydist]

How much should I expect to pay for a black 98 SHO w/ 97k miles, tan leather, and a transmission problem? I haven't driven it yet (dead battery) but the owner says it either won't shift out of 1st or won't shift out of 2nd - its been sitting for a few months and she couldn't remember which....

The car looks really nice, only a few door dings, no rust at all, tires are decent, and the interior is only average. I have no idea if the cams have been welded, so I'm assuming not...

What should it be worth?

 

[ALL4SHO2]

IMO I would find one without problems to start with. The reason I say this is, you really can't drive it much so you wouldn't know if there are any other issues till the transmission problem is fixed. But if you do decide to go with it, I wouldn't pay over $1200

 

[rubydist]

I was thinking not more than $600...

 

[ALL4SHO2]

Maybe you are right. I tend to pay to much for these cars. My 97 I have now I paid $4500 for it.

 

[kit352]

i was thinking less than 600. unless you can drive it abit its not worth anything.

 

[Izzmo]

You guys are all crazy. A good condition GenIII will go for still about $4k+.

Now, I'm sure it would be tough, from a dealer, to see if the cams are welded, so make sure that happens.

You may get lucky and get one for less, but they are still rather expensive.

 

[ALL4SHO2]

You guys are all crazy. A good condition GenIII will go for still about $4k+.

good cus i thought that i overpaid

 

[rubydist]

You guys are all crazy. A good condition GenIII will go for still about $4k+.

Where??

Edmunds shows under $2900 for private party price for a 98 w/ the equipment and miles this one has, in clean condition. That would be after the transmission is fixed and cams welded.

On ebay recently they have ranged from $1300 to $3500 in good running condition.

My research suggests that a trans rebuild is at least $2000, so that's why I was thinking under $600.

Am I missing something?

 

[kit352]

id sell my 97 in a heart beat if i thought i could get anything over $2500 for it and ive barely got 100k on it and kirk just did a ton of stuff to it. i could only dream of 4k.

 

[Mr Anonymous]

Without seeing it and assuming your description is accurate I'd say the "real world" value is about $1000, which means anywhere from $800-$1200 depending on in-person inspection.

Expect to spend around $1000-$1400 for a used (junkyard) tranny including install labor; anywhere from $1800-$3000 for a rebuilt tranny including labor; plus $500-$800 for cam welding. That doesn't include any other routine maintenance it might need like brakes, tires, etc.

Best case, you could get a decent enough car on the road for about $2300 or so, worse case $5000 (which means find a better car). If you can do a tranny R&R yourself, then you could really make out.

There are plenty of good ~100K mile V8 cars out there in the $3000-$3500 range that are already welded and running and driving. That doesn't mean that a week after buying it you can't blow a tranny, but that's a chance you take with any used car.

To get $4000 or more for any V8 car today, it has to be in spectacular condition, welded, well-maintained (with records) by a caring owner, and needing zero to buy and drive it for at least a year without spending money on anything besides routine fluids, etc.

 

[mustangracer91]

I traded a $500 mustang LX for mine, and it is in beautiful shape except for the cupholder, which I got a new one off ebay for $10...but I didn't know about the cam thing, and my engine ate itself about a week after I bought it while idling in my driveway...

 

[ALL4SHO2]

here is a link to kbb using my car as it sits right now. Maybe I couldn't get $4400 for it, but that is what it is worth
http://www.kbb.com/KBB/UsedCars/PricingReport.aspx?YearId=1997&Mileage=87000&VehicleClass=UsedCar&ManufacturerId=15&ModelId=94&PriceType=Private+Party&VehicleId=7638&SelectionHistory=7638%7c30039%7c14901%7c0%7c0%7c286423%7ctrue%7c286475%7ctrue%7c286448%7ctrue&Condition=Good&QuizConditions=

 

[stephen newberg]

To get $4000 or more for any V8 car today, it has to be in spectacular condition, welded, well-maintained (with records) by a caring owner, and needing zero to buy and drive it for at least a year without spending money on anything besides routine fluids, etc.

Except I do not want to sell mine.

pax, smn

 

[Mr Anonymous]

here is a link to kbb using my car as it sits right now. Maybe I couldn't get $4400 for it, but that is what it is worth
http://www.kbb.com/KBB/UsedCars/PricingReport.aspx?YearId=1997&Mileage=87000&VehicleClass=UsedCar&ManufacturerId=15&ModelId=94&PriceType=Private+Party&VehicleId=7638&SelectionHistory=7638%7c30039%7c14901%7c0%7c0%7c286423%7ctrue%7c286475%7ctrue%7c286448%7ctrue&Condition=Good&QuizConditions=

KBB is about as accurate as flipping a coin or asking a psychic. :shakehead

Try www.edmunds.com instead, I'll bet it comes in at least $1000 less for a private party sale. If you want a real idea what a car is worth, get a dealer copy of the NADA guide (not the ones you buy at the store, the ones the dealer gets via a paid subscription) and look at the wholesale value, add 10%, and that is probably the most accurate estimate of how much a car is really worth.

Anyone who thinks their V8 car is worth a boatload of money has no concept of the market at all. Being around at least 20 V8 car sales in the past 12 months, the average price they sell for is about $3200, and that is welded and in decent condition (not mint, but not beat to ****). I've seen a grand total THREE V8 cars sell for more than $4000 in the past year: one was Kirk's 2002 conversion, one was Ryan's 1996 MTX conversion, and the last was a silver '99 with only 8000 miles on it. The "average" selling price for a V8 SHO hasn't been $4000 or above since 2007.

Ultimately a car is only worth what someone is willing to pay for it. Just like any commodity, some people over-pay. Don't be one of those people!

Except I do not want to sell mine.

pax, smn

Well heck, $4000 USD is worth what, almost $5000 CAD right now? That would make a heck of a down payment on an Eco SHO!

 

[bacernate]

In all actuality a Colorado car is rust free, so the values are higher than an east coast ruster. I paid 4700 for my 97 with 97k on it 2 years ago, and the bank gave me an extra 1000 to weld the cams with no questions asked.
If you buy it I can turn you onto a shop in Boulder that would do the trans for under 1800 installed.
I bought my mom's Cutlass Supreme out here and it was 1500 more than a comperable car in Iowa. [That's where I'm from and my mom still lives there]

 

[ALL4SHO2]

whether kbb or edmunds I get the same. only cus my miles are low for the year. anyways, back to the question at hand. you could get this car and put some money into the tranny and have a reliable car. Or if you are not pressed right now to get one, wait a bit and I am sure you can find one that needs no work for a little more

 

[Izzmo]

Where??

Edmunds shows under $2900 for private party price for a 98 w/ the equipment and miles this one has, in clean condition. That would be after the transmission is fixed and cams welded.

On ebay recently they have ranged from $1300 to $3500 in good running condition.

My research suggests that a trans rebuild is at least $2000, so that's why I was thinking under $600.

Am I missing something?

Well that's just crazy. I bought my black SHO almost a year and half ago and KBB was saying $4,500 for it in good condition.

 

[Mr Anonymous]

whether kbb or edmunds I get the same. only cus my miles are low for the year. anyways, back to the question at hand. you could get this car and put some money into the tranny and have a reliable car. Or if you are not pressed right now to get one, wait a bit and I am sure you can find one that needs no work for a little more

Huh?

I used a fully loaded '97 in "Outstanding" condition with the same 87K miles that you had in your KBB quote, and this is what I came up with:

$3099 is what it shows. Even if you zero out the "regional adjustment" and the "color adjustment" columns, that still only comes to $3134. Still nowhere near KBB's $4410. More than $1000 difference for a private party sale as I suspected.

Well that's just crazy. I bought my black SHO almost a year and half ago and KBB was saying $4,500 for it in good condition.

I don't know all the details of your car, but if you paid that $4500, you probably overpaid. Again, KBB is useless. Use a computer to pick a random price from between $2000 and $6000 and you'd likely be more accurate.

Guys, I love these cars, but I don't let that affection blind me to their values. My near-showroom condition '99 with 82K miles isn't worth more than $4K.

 

[bacernate]

Bottom line if you can get it for a song, under a grand. Buy it and fix the trans and weld it. If you fix the trans then at least you have a warranty to get you by. If you buy one with a presumable good trans it could take a dump tomorrow and then your out all that extra money.
I would rather buy a fixer than at least you know what your getting and what's new and what isn't.

 

[bacernate]

Kbb in Denver 4500 private party. Could you sell one for that, not likely but 3000 or so yes you could.