The dreaded whats it worth thread, Modified Cars

[The Art Doctor]

Ok so I have been watching the marketplace for about 6 months now.  I have a feeling for general values. As I'm searching for a Formula I've been researching them from all over.  I can fairly well predict stock cars with various mileage and condition, outside time capsule cars, but I have no idea on modified cars.

The car in question is a Formula that has had near $25K invested in "professionally installed" extras, engine, transmission, powder coating and paint work. Odometer reads 132K with a used 70K mile 3.4, used 65K mile Getrag 5 speed, new clutch, replacement hood, overall new paint and replacement interior with a clean used example and Mr. Mikes leather seat covers, digital dash conversion. All done at TFF in 2013.  (sounds like they started with a less than clean car needing hood, paint, interior)  Lots of powdercoating including suspension was done at a second shop.  Big corvette disc kit front and rear, lowering coils, urethane bushings, good looking but cheap aftermarket aluminum wheels and a "custom stainless exhaust" all installed by what the owner called a Hot Rod Shop.  The current owner bought it from the hot rod shop with 5k miles added since it was at TFF.  I have to assume it was some sort of mechanics lein sale.  He has a stack of receipts from the past building owner who he claims was anal about the build according to the shops he contacted looking into the car.

It is a super clean car, fresh paint, good tires, the 3.4 and all the TFF stuff is a pro install and I cant argue with extra power.  It is black and grey and 5 speed, perfect!  Hate the dash but he said he has the stock gauges.  Speaking with the owner I got the feeling that the folks who worked on it after TFF were not total pro's.  He seems to not be a car guy, though claimed to be a Pontiac man, but I get the feeling hes just a guy who thought owning one would be cool, until it wasn't.  Said a ball joint let loose as there was no cotter pin, I think it freaked him on the car.  So Id expect some things need fixing, including the A/C which leaks down fast he said.  It is 10+ hours away. Pretty firm at $7K.  The N.I.F.E price for a Formula in excellent is $3600 which seems to be where they sell on eBay give or take a thousand or two if they are nice, clean, moderate miles and well optioned driver quality cars.

I was interested just by the pics but having talked to the owner I have cooled on it a lot.  Where do cars like this fall in the marketplace?  Is it worth double book?  It would cost me a lot to add the same brake/motor upgrades to a stock car. Can I get a nice stock car to look like this with extra power for $3500 in upgrades? Are modified cars a pain?  There seems to be endless threads on PFF about cars with swaps that do not run well or at all.  I known have to keep a list in my chevy so I can remember what source cars all the different bits came from and I built it.




All opinions appreciated. 

[GTRS Fiero]

Well. The interior has a fair amount of warping.  Mechanical issues...  does not sound driveable, ATM.  When a ball joint goes, usually other things happen.  Broken control arm?  Damage to undercarriage?  End links?  Tie rod?

If the paint job was done right, that's a plus.  Check for overspray.  Powdercoating on what?  Why did the hood and interior need to be replaced?

However the swap looks, as you say, sloppy work done, recently.  I had my swap completely rebuilt, and the engine did not have that many miles on it.

The Corvette brakes are $1,100 to $1,500, if you do the work yourself.  Wheels, probably $2,500 or more.  Paint is usually several grand, for a good job.

If you do the 3.4 swap yourself, maybe $300-$500--if everything goes well.  Finding a good 3.4 block may be difficult.

[Raydar]

This is a really hard call. It's all in the quality of the swapped/upgraded pieces, and the workmanship. That's on top of the integrity (rust?) of the basic car itself.
I suppose it depends on what you want to do with a car. if you want to upgrade it, you'll just about always end up spending more for the car and the upgrades, than you will spend for a completed car. The tradeoff of doing it yourself, is that you know *exactly* what you've got, when you're done.
(FWIW, I've got way more in my car than I could ever sell it for, but then I didn't build it to sell.)
As an aside...  you can buy an entire bolt-on 13" brake upgrade - that uses the stock 88 calipers and pads - for $640. It's among the best, out there, IMHO.

Sorry. I know that's not a lot of help.


 

[GTRS Fiero]

Unlike many other cars, you cannot judge a Fiero by its cover.

Some people claim that a modified Fiero is worth less than a stock Fiero.  My opinion is that, if it's better than factory, the mods should make a modified Fiero worth more.

[Fierofool]

If it hasn't had any accidents and it isn't rusted, for my taste, $3500-4000.  I don't like the wheels, either but I've got a set of 5-spoke 17" Pacers to go on it.  I see the radio has been upgraded to the Grand Prix 7 band equalizer though I can't tell if it's cassette or CD.  Most of the vinyl warpage can be bonded back except maybe the center console box.  The shift surround is also a problem. 

[The Art Doctor]

I want to love it, but I feel, as you all, luke warm at the whole package.  $7,000 is a lot of money for a Fiero, even if they spent a mint on it. 

The Medium Red Formula on BaT was $6,900 and it was in much better shape overall with very low 42K miles, but (wrong negative word?) stock. 

A 3.4 swapped 88 GT in decent enough shape sold recently on eBay for $2,275.  https://www.ebay.com/itm/1988-Pontiac-Fiero-GT/333467336433?hash=item4da433bef1:g:IO0AAOSwevJeEmId  It was on PFF and the seller was not thrilled but accepting as he just needed it gone.  Black driveway paint job, some replacement body panels, $135 each aftermarket wheels, cut the coils and you have the car above for $3500.

The search continues.

[pgackerman]

Not a Formula, but a 3800SC.  https://brunswick.craigslist.org/cto/d/brunswick-1986-fiero-gt-fastback-3800sc/7077471807.html

The owner seems to be a Fiero guy.

[GTRS Fiero]

A few months ago, finding a Fiero that met most of your list was not that hard.  Now....

There are usually Fieros for sale at Fiero events.

[The Art Doctor]

I agree, I think winter weather is keeping them locked up for the moment.  And the rush to get rid of them in the fall is over.

Good thing i'm not in a hurry