1966 MK III Sprite

[rld0829]

Hi all,
I just (meaning 10mins ago) looked at this model with the intent on buying it......the car looks relatively sound, he says it runs...but the gas tank corroded so can't test it, he actually has a new one waiting to be put on.
The car has 69k miles on it, body looks good. He tried to do something with the wiring so it's coming out the inside console. He has all new wiring for it, again, waiting to be installed.
My only concern is there is rust, on the drivers side floor panel, pretty large hole.
Now he says that he wants to get rid of it and will take pretty much anything.....I need some advice, should I go ahead and make him an offer, I'm thinking around $500, or is the rust to much of a problem ?

 

[bighly]

If the car is complete 500$ is not too bad.

To bring it back up to snuff expect 10 to 15K if you do most of your own work or 15 to 35K if you have a restoration shop do it.

Alternativly do only the mechanicals and safty items for about 5K (yourself)

 

[tahoe healey]

Check ebay for the going price. The square Sprite body does not bring that much money (yet?). But it does bring a lot of fun. You can get a good one for less than it would cost to restore.

 

[rld0829]

[ QUOTE ]
If the car is complete 500$ is not too bad.

To bring it back up to snuff expect 10 to 15K if you do most of your own work or 15 to 35K if you have a restoration shop do it.

Alternativly do only the mechanicals and safty items for about 5K (yourself)

[/ QUOTE ]

I see this car going for 5-10k fully restored, so why would I buy this car and spend all that money as you say to restore it, when I could just buy a complete restored car full half the price?
The owner seems desperate to get rid of it, he even said he'll take what he can get at this point because he's moving...I'm looking to turn a profit

 

[Dave Russell]

[ QUOTE ]
I'm looking to turn a profit

[/ QUOTE ]
Not a good way to make a profit, unless you really get the best of an unsuspecting buyer.
D

 

[spritenut]

There is no way you could spend 10K or more on a Sprite unless you bought every part new and had a shop do all the work.
If you can do the work yourself, and it needs floors, and some minor body work and paint, again doing it yourself should be 1000-1500 TOPS.
I am doing a 58 Sprite now from rusted away, no floors, no sills, no frame rails and all of the parts to make it 100% were under $4000. Sure I'll have a brazilian hours into it but that's what I like to do. It beats watching TV.

 

[bighly]

I said about 10K to 15K if you do most the work yourself.
I was thinking 4K for top end body and paint, 4K for parts, 2K for engine rebuild and tools.

It is always less expensive to buy a completed car.

Take your worst case estimate and double it.

 

[jlaird]

10K neighborhood is about right for a Bugeye nut and bolt restoration when you must farm out body and machine work. I am right on target to that, a bit under actually.

 

[Dave Richards]

[ QUOTE ]
...I'm looking to turn a profit

[/ QUOTE ]

/ubbthreads/images/graemlins/tongue.gif FWIW, I have to agree with Dave Russell here, lot's easier ways to make money, I thought that's what we did so we could afford these babies. IMHO

 

[Ed Kaler]

[ QUOTE ]
I'm looking to turn a profit


[/ QUOTE ]

You would be in the WRONG field of endevour!!! Ain't gonna happen unless the guy pays you 5 grand to take it!! /ubbthreads/images/graemlins/devilgrin.gif
/ubbthreads/images/graemlins/angel.gif
Ed