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Why should I buy? Why shouldnt I buy?

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tao724

Jedi Trainee
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I was driving out of town yesterday when I came across a 1974 Midget parked on the side of the road with a for sale sign on it. It was glistening in the sun and picture perfect. I keep no secret that my favorite years for Midgets are 72-73-74. I still had 350 miles to go on my trip but thought 5 minutes to look wouldnt slow me up. The doors were unlocked. I got in, gave it a good sniff, felt of the dash top, dash instruments, tranny tunnel, seats, hood frame, steering wheel and shifter, and then accidently (?)....pulled on the bonnet release...
This little beauty was 30,000 miles of very good original interior, no tears in vinyl, no worn spots on carpeting, uncracked dash, doors, bonnet and boot lid properly aligned, no bubbles on sills, no visible rust to undercarraige, good play from the Lever shocks, good stance on coil and leaf springs, wheels apparently refinished by compitant hands, no laxity on wheel shake, not too old stainless exhaust, replaced gas tank, a recent careful experienced respray, very good original chrome, very decent front end, very clean boot, (it too was unlocked and just came open [?]), no tell tale trail of oil spray engine compartment or under side, and a thouroughly unmolested complete original engine bay. It looked like you would expect from a 30,000 mile well cared for vehicle. Since I am currently occupied with my ongoing rebuild project, the last thing I need is a distraction. But this Midge just, just.....well it just called me over from 55 MPH to say hello. I'm a little ashamed to say that instead of doing the right thing of getting back into my car and speeding off down the road to the nearest store for a chocolate bar, I got out my cell phone and called the owner. He seemed like a nice guy, expressed some sense of urgency in a need to sell, had already received 8 calls from interested (tire kicking) parties, told me about a 74 on Craigs list that was for sale for $10,000.00, and dropped his asking price to a 'near' selling point when he found out I've had the MG affliction for 15 years and told him the guy on Craigs list wasnt going to realize a sale.
Well, I returned from my trip today. The Midge was still there. I got out again. Looked it over again..(it hadnt changed!). The owners phone number is in my pocket. I start thinking of remaining expenses on my current rebuild, being over budget, winter storage issues, the logistical issues of having two, the emotional issues of letting this slip away, the practical issues of which one would I drive, and when, and how do you choose. When I got home I even went straight to the garage to see if being in the presence of my rebuild would quiet this urge.......it didnt.
There now is my dilemma.....do I call this guy tomorrow for a test drive and negotiations? Or, do I continue to wait, and hope that a BCF regular will see it and buy it first and releive me of this obcessiveness? He just might lower his price to the 'buy' point. :rolleyes:
In the mean time; breath in slowly......exhale......
 
Howdy Mike,

"BUY IT"! If its got you to this stage of decision and Your fighting yourself, afraid that your project will go by the wayside. "BUY IT"! You`ll hate yourself later if you don`t. You can`t have too many LBCs. This one you could simply enjoy as is. The project will surely come along as time goes by.

Do the right thing for Yourself; "BUY IT"!

Best Wishes on whatever your decision may be,

Russ
 
I am a little confused by your description, are you implying the price is near $10,000, if so that is pretty steap for a box Spridget, but maybe I misinterpreted.
 
:devilgrin:

Temptation....


but... is there any downside? :devilgrin: :devilgrin:
 
The owner told me about the Craigslist $10K to see if I would nibble. When he determined that I wouldnt he immediately lowered to $6k, when I still didnt bite he intimated he would consider somewhere in the $5K range. He mentioned twice that he bought it from an older fellow 2 years ago for a 'fantastic price'. I'm thinking 2-2.5 thousand (?), I'm also guessing by the condition of the car that the older fellow is probably the original owner. Now he wants to recoup his investment in the paint job, exhaust, and fuel tank. A resonable desire to get all of your money back, but it doesnt always happen in the hobby car world. This fellows 'love of his life' didnt last all of his life, so he is trying to decrease his personal assets before her lawyers take it away (if you get my meaning).
Anyhow, I'm thinking he would consider something around $4,000. That should fairly , if not with profit, cover his purchase and well chosen refurbishings.

Thoughts?

PS to James Wilson; no down side! (just this nagging indecision!)
 
$4000 for a solid, running, low mile midget would be a good buy. (If the paint is not hiding horrors)
 
OK, yes that is a much better deal on the price if it is a good ccar as described.

Three things I would lookk for, hidden rot, tranny whine or grind, especially in st or reverse, lastly take it for a long run or let it run awhile, then check the oil pressure, many many years ago I bought a Sprite after a short test drive, oil pressure was fine, but when the oil and car got woarmed up it dropped practically to nada on idle and nada plus on revs, not good.
 
Tao,
Not sure where you are in PA, but even 5000 is a little high because they just don't seem to move to quickly. It really has to be in great shape for that price. I picked up an original car from Bethlehem 4 years ago with 18,000 miles on it. It was in excellent condition for $4000
I went to the carshow in rothsville a couple of weeks ago and got talking to a chap that was restoring a TF. He had been doing in for several years and the opportunity came along for a driveable Midget. He loves it so much that he is considering finishing off the TF and letting it go. He said for the money it is so much more enjoyable and he can use it as a daily driver.
I live in York so if I can help, let me know.
I can even bring my 73 1275 rwa if you like.
Allan
 
I'd let the fates take over.....

Set your offer price, let's say $4k, then set your max, let's say $4.5k.

Got take a drive and negotiate. If if you make the offer and he says no, he'll probably end up calling you back to take your offer.

Yes it's going to be agonizing, but at least you know you did your best to get it. Your best just might get it for you.
 
Before you go back, get rid of all the emotions you have for it....look at it pragmatically....let it tell you its story...you said "new paint", I say "hidden rust"....he bought it just a few years ago & is getting rid of it...divorce sounds like a good reason but who really knows....do not say a word about money - the guy who mentions money first loses! Take it for a drive & flog the you-know-what out of it & then point out all its shortcomings..he'll quickly come to his bottom dollar.

Have part of your hundred dollar bills in one pocket, the remainder you're willing to spend in another...try to stay within the amount in the first pocket.

You have reason to help him recoup his investment...you're buying a "pig-in-a-poke" you saw sitting along the highway....it'll be a totally different car when you get it home! So, you have to decide what its worth to you.
 
Shoot Joe there is well over 2K worth of parts in that car.
 
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