Please consider that there are no shortages of used corvettes, most without questionable titles. Plus there are a lot of recently flood damaged cars entering the market.
If I understand your position, you have already made your buying decision, with the only concern you have to closing the deal is that you need information about the price to satisfy your last buying objection.
All of the above posters raised very informed objections to the deal, with both the price and the unknown reason for a savaged title. if he need cash, meet inside the bank. But I can easily think of many more objections , how much time do you have?
First , just from the ad, this is not a professional repair. Was the DIY repair an attempt to avoid an undesirable CarFax history? I don't know , but do know that is one method used to wash flood titles. How long the seller has owned the car will indicate what kind of a deal you are getting into.
What's with the owner driving it around town , daily?, with a partially repaired brake system. This speaks to the level of work the guy is willing to accept as reasonable. And this is on the most critical system in the car. Is it wise to buy into that kind of car maintenance.
Because you will either have to correct the low level upkeep, or let the car continue to slide. Both will cost you, because deferred maintenance is not a self healing deal. On the road, every other car will be driving faster than they did in 1982, and their fully functional power brakes will have them following closer , and braking better, than you without a correctly repaired brake system from 40 years ago. Why is it the guy can fix all the other in a long list of stuff, yet can't manage a brake boaster , that is right on the firewall, and easy to install.
Perhaps the junkyard engine was installed incorrectly, or maybe the truck engine, with how many miles on it was never configured for power brakes. Perhaps it is now unable to, or the seller can't figure how to, make enough vacuum to power the boost, the reason is unknown. Unless he really hasn't the time for the repair.
No insurance company would ever install a truck engine into a corvette, such better than nothing decisions are only for junk cars. this smells like a shade tree mechanic trying to flip a car that he can't figure out how to fix the brakes, or is satisfied with marginal work on safety systems.
which returns to the question of why this car was written off as junk at some point. Few people sell a perfectly good car, they sell when further ownership becomes unreasonable, and you need to find that reason.
Either this car was smacked really hard, or is flood salvage, because few cars get so damaged that they need the engine plus the front end replaced, right down to both brake calipers. Did the owner drive it daily for years after the repairs, or just long enough to decide it needed to be sold quickly, cash only.
Anybody can buy some cheap wheels and paint, then detail a pretty car so it looks good for sale.. you need to look this horse in the mouth, because, at seven thousand dollars, it is no gift. A truck engine in a corvette is a sign corners were cut, because truck engines are built for a very different function, with different parts. But more importantly is why was a new engine needed, is the car worn out from long abuse, and a junk yard motor just put in for a quick sale, or is the salvage title recent , along with the repairs.
A level three inspection means nothing to me , and exactly what qualifications are required to do that type of inspection, because it sounds made up. Is a three score good, average , or bad. And how come it doesn't go to level eleven, spinal tap style.
Drives straight implies it took a big hit, but that might be a sly way to cover a flood repair, which will be much more expensive than a collision, once the corrosion sets in. to see if the car is straight, you need to follow it down the road and look, or measure. American cars have an acceptable frame tolerance of 1/4 inch from true, plus or minus. you can't tell straight from behind the wheel on a crowned road. I can't tell if the tires match from the picture, but the tail pipes clearly don't, with one hanging down. There is also something funky where the rear bumper joins the body, but that might be an artifact of the rough picture. frontal collision damage on a budget wouldn't normally paint back that far, so look carefully for color match. A lot of repaired cars are party colored, but most people are not trained enough to see it, It could be a way to lower the price, as is quietly touching any observed flaws.
I worked for an insurance company that didn't insure drunk drivers or salvaged cars. many major companies prefer a stable risk pool like that, it allows for lower rates, they spend less servicing policies where nothing ever happens except they get incoming payments, and they send out less checks. If your company insures the car, you will probably be in a risk pool that requires higher rates, so shop around. if you insure for damage, you will pay full price, but in the event of total loss or theft, you will only get paid half the book value, because of the junk title. so if the book says the car is worth seven, you can recover no more than 3500, which doesn't buy a lot of labor and paint down at the body shop with a fiberglass body at todays rates.
Conventional used car buying guidelines don't go out the window just because it is a pretty red corvette. I am fairly sure buying an old used car with a salvaged title isn't among the money saving tips passed down from father to son. Unless you have specific plans where the title is irrelevant .
If you are buying because of a low price, it is a very different deal than keeping a 40 year old Toyota pick up on the road. high line cars still require high line maintenance, no matter how old . One of the reasons you can get a lot of car for cheap if you buy an old rolls Royce,is the upkeep costs.
If you ever need any sand kicked in your cornflakes , it's kind of my specialty. I bought my used corvette with no specific insight into the line, or how complicated the 03 car was, but figured it was a platform I wouldn't mind investing in over the long haul. old cars can have a steep learning curve, if you choose your starting point poorly.
Happy motoring .
