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Discussion Starter · #1 ·
I have a chance to buy back an old car I once owned, an 89 Formula 350 w/ L98 engine and tuned suspension package. It was repainted by me several years ago and later sold to a friend who now wants to resale it. It has about 165,000 miles and he's not taken the best care of it and belives it has blown or cracked a head. The offer is $800. I was thinking it may be worth it for these 3 reasons, so maybe you guys can enlighten me: 1) fix the head/gasket issue and be a "beater" ride. 2) make it a drag race car w/ different engine,tranny and rear 3) fix it and resell for a bit more than time/money spent. These 350s are pretty hard to come by in great shape as is and were selling for much higher a few years back than they are now. You guys think it's a money pit and I should pass or go for it to have something for me and my son to tinker with and maybe see some track or street duty in?
 

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I have a chance to buy back an old car I once owned, an 89 Formula 350 w/ L98 engine and tuned suspension package. It was repainted by me several years ago and later sold to a friend who now wants to resale it. It has about 165,000 miles and he's not taken the best care of it and belives it has blown or cracked a head. The offer is $800. I was thinking it may be worth it for these 3 reasons, so maybe you guys can enlighten me: 1) fix the head/gasket issue and be a "beater" ride. 2) make it a drag race car w/ different engine,tranny and rear 3) fix it and resell for a bit more than time/money spent. These 350s are pretty hard to come by in great shape as is and were selling for much higher a few years back than they are now. You guys think it's a money pit and I should pass or go for it to have something for me and my son to tinker with and maybe see some track or street duty in?
Probably lots of reasons to do it, but best one would be to have a project car for you and your son to work on. My son and I spend many hours on projects together, we have a lot of fun, and not to mention some great memories.
 

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Probably lots of reasons to do it, but best one would be to have a project car for you and your son to work on. My son and I spend many hours on projects together, we have a lot of fun, and not to mention some great memories.
:agree: That's my dad BTW:thumbsup:

Anyway. As much as you like dragracing I'd buy it and make a racer out of it. For $800 you can buy it and part it out. I parted out an 88 GTA a few years ago and made a killing on it. For $800 I'd buy it but then again I bring most anything home.:laughing:
 

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:agree: That's my dad BTW:thumbsup:

Anyway. As much as you like dragracing I'd buy it and make a racer out of it. For $800 you can buy it and part it out. I parted out an 88 GTA a few years ago and made a killing on it. For $800 I'd buy it but then again I bring most anything home.:laughing:
what he's trying to say is if you buy it he'll give ya 850 for it...
 

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Discussion Starter · #5 ·
I'm still mulling over it. If I make it a race only ride, there's alot of $$$ to be spent, and I'd need a trailer and haul vehicle to get it to the track. On top of that, I'd most likely get rid of the L98 for a 572ci fuel injected , send the tranny to Rossler to be fortified,and slap in a Moser 12 bolt. That'd bring me up to enough cash spent on the '89 to buy back my 2000 TA and have some $$$ left over. If I went the "make it drivable " route and just fixed whats wrong with it, I'm afraid the motor doesn't have much life left as is and I don't have an engine puller for an easy swap , so I'd be outsourcing the swap and spending even more. It has alot of little issues too, but as vette/f-body owners, you probally already know what those are( droopy headlights,needs new cats,interior rough,needs new shocks,etc....). I'm really looking at it right now as a potential horrible money pit, and it'd be too late once I started into it to pull out before financial loss. I guess I've just been too mindful of profits and losses doing what I've done for the last few years. I'll lete you guys know if I decide to get it, maybe you can post suggestions or take up some $$$ for me when I'm broke and owning a really fast Formula 350...lol
 

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Discussion Starter · #7 ·
Would you purchase this car if you hadn't owned previosly?????
Being sentimental can be exspenSIVE....Just a thought....
I know what you mean, and have thought about that as well. When I owned it, I spent and entire winter getting the body panels smoother and straighter than anything ever to roll off GM assembly lines, laid many coats of primer/sealer and 5 coats of metallic maui blue, and 5 coats of clear, wet sanded and polished to a perfect shine. The engine compartment and interior was detailed to perfection and the car purred better than new. About 1 and 1/2 years later I sold it to my friend, who has it now, and it's been his daily driver for more than 60K miles with only a horn relay and t-stat on the repair list since I sold it to him. I'm thinking the blown/cracked head may be due to his ignoring the t-stat issue and letting it over heat many, many times before I actually repalced it for him.I guess what upset me most is that 4-5 days after I sold it to him, I went to his place and was chatting, then I saw it....the whole nose was spiderwebbed....I was like WTF???? ....he had let his then "hefty" g/f sit on the nose of the car.....ugh!! Anyways, I know I'm rambling and thanks for the comment, you may be right that I probally would not consider this car if I had not owned it, I need to look at it as if it was not mine at some point and come to my conclusion via that route. THANKS!!
 
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