lately i've been really wanting a new car, so i was browsing through autotrader.com and came across this.

http://autotrader.com/findacar/vdeta...r=&cardist=192

i really want to get rid of my 3.4L V6 and step up to a V8. i can't afford an LS1 so i want to get an Lt1. mainly all i'm concerned about is that it's a 6spd and has t-tops. i want to stick w/ either a formula or T/A and would like either red or black. the mileage isn't listed on this car, but i could easily call and find out more info on the car. since i don't have the money right now to buy this i was thinking about seeing if my dad can loan me 5K or get a loan from the bank. i would rather buy this car before selling mine so i can switch the hood, wheels, phr, reloacation brackets, clear corners, posslibly intake if the T/A only has filter, and of course stereo stuff. after i switch everything i could probably sell my car for 5K. does this seem like a good idea for me to do? the car is basically what i'm looking for: red, t-tops, borla exhaust. i just got a job so i think i can cover the extra insurance. i'm going to propose the idea to my dad next week and see what he says.

 

That sounds like a pretty good idea to me. It probably has over 100k since it doesn't list it, but that's not bad as long as it's been taken care of. I say go for it, you won't regret stepping up to a V8

 

you should actually talk to your insurance agent first. it sux to be low on dough.

our kids 93 Z is more than twice what her 98 v6 was.

it's ~360 every 6 months, with it insured as "being in storage, less 5k miles a year"

I really wanted to get my other daughter a F-body, but I can't hack the insurance.

the wife's SS is a real pooper, the convertibles are a a$$-munch to insure.

your insurance agent may need the VIN to run a real quote, USAA does.



hth?

 

i wouldn't get a loan for a used car that is that old if i were you...

maybe borrow money from your parents, but not from the bank.

 

well like i said, i'm going to talk it over w/ my dad and see what he says. he's always wanted me to get a V8 and if i'm able to explain how i'll be able to pay him back real quick after buying this car, he just might help me out. if he agrees to this, i'm going to call and get more info about this car. i really don't want to get it if the mileage is over 120K. if the car sounds like it was taken care of i'll get the VIN # to find out insurance rates and then drive up to check out the car w/ my dad. sucks that it's not close to home b/c i'd like to take it to a mechanic to see what kind of problems it has. if everything goes ok i'd like to have a new car in a couple of weeks.

my insurance right now is $550/6 months for full coverage. i'm expecting around a $150-$200 increase. i don't have any points on my license and i'm 20yrs old. i think rates goes down when you're 21 right?

going to the bank would be a last resort. my dad is pretty reasonable and if he tells me its not a good idea right now, i'll probably just pass on the car.

 

before you do anything go to the LT1 section and use the search feature to find common problems you should check an LT1 for before buying it... i know i wish i would have.

but an LT1 with more than 100k miles, i'd be weary... definantly get a compression test done

 

Now is a pretty good time to buy a car because the economy is somewhat slow and people aren't buying them, so if you can swing it, go for it.

Borrow the money from the bank and make payments to them. This way, your credit score will go up, which will benefit you when it comes time for you to buy a house or a new car. Seeing how the cars you're looking at are probably under $7,500, assuming you put no money down, finance for 54 months, you'll probably pay under $200/mo.

 

hate to burst your bubble, but you gotta be realistic


1........insurance does not go down at 21........it might at 25.

im 22, and i have a red 95 t/a, the lowest rate i could find was $300 per month (yes, $3600 per year)..........yes i have a few tickets, but yours isnt gonna be too much cheaper.


2........a 95 transam for under 7k most likely has things wrong with it. you can look at the parts, but will never really know until you buy it and drive it.

assume you will have to change the optispark, waterpump, plugs/wires and O2 sensors as a basic tuneup to keep her running properly. thats $550 worth of parts, and quite a bit of labor. if they havent been changed, it might also need timing belt, or fuel filter, who knows.

look at the tires? will it need them soon? theres another $400 easy.


btw..........looking at KBB.........im wagering to guess this car has about 120k on it. did you find out the mileage?



if youre gonna borrow the money, youre better off having your dad co-sign a loan for you............you will get a better rate, and probably more money for a lower mileage car.

 

hehe predatorbird I am in the same boat as you...

I found a nice car, not posting where it is but was an lt1 with 60k miles, t-tops and 6-speed.

I was talking it over with my dad as well since he will have to help me with the insurance. My thoughts on getting upgrading ot an lt1 with limited funding...

1st off do you own the Bird you have now or still making payments?

2nd any cash up front you have?

What my plans are is to try and find a really low mileage lt1 with 6-speed and t-tops, seems to be hard to come by, I keep trying and trying and find a couple deals, I hope this one holds out while I get things organized, not sure if I should hold off another month since I am moving really soon and I know how those costs can get.

Remeber older car, to pretty much think you will be replacing the clutch, waterpump/opti, intake leak? Possible rear end, maybe even the transmission.

Don't also forget some routine stuff like plugs wires, fluids, thermostat, fule filter, jsut little things that might all need to be done.

I woudl seriously avoid long loans, my longest loan I want to be 1 year, maybe 18 months, on the car I looked at earlier I am thinking of going 24 months, since it only has 60k.

jsut as a warnign these cars can turn into money pits REAL FAST, despite what alot of people say about them being really reliable and lasting forever.

But either way good luck, awhile back I ran into a firebird, it was black, 6-speed, and had 80k was about the same price.

 

my firebird is in my name and it's all paid off. my dad bought me the car when i was 16 and then i just made payments to him to pay back $4k of it. just before i moved up here i finished paying it off and we switched the title over to my name, along w/ getting my own insurance. i have about $1500 in my savings right now, but i wouldn't use it all for a down payment just b/c if a problem comes up i don't want to be screwed. financially i really should wait a year to consider buying a new car, but i'm so tired of my slow v6. it was my first car when i turned 16 and now that i'm 20 and am a more experienced and responsible driver, i want something faster and more fun to drive. i figure the longer i wait the harder it will be to find an lt1 in good condition w/ low miles.

after going over everyone's list of things, i was expecting around $1k to spend to get it tuned up and running good. i don't really care how the tires look b/c those will end up on my v6 since i'll be keeping th wheels i have now. i think one if the bigger things now will be insurance. i can't and don't want to do $300/month. i'd rather keep the car and actually have money to spend to go out and stuff.

 

Ehh I think it might be possibly to get one

Are you selling your off if you get a new one? That was sort of the situation I was in a few months ago but managed to yank up another $1k, in savings.

 

A few facts to go with your speculation:

LT1's are not the unreliable moneypits they are made out to be. That is provided you're reasonably competant and can do the work yourself. Parts aren't all that expensive... On the otehr hand if you don know what you're doing and just take it to a shop then you're going to get reamed but thats true regardless of what you drive.

An opti, plugs & wires, waterpump, and O2's will run you ~$420, not $550, if you know where to shop.

The opti issue is overblown IMO. Mine has quite a few miles on it and still works fine. Unless you're having problems with it I would leave it alone, its a little too expensive to be a preventative maintance item.

My stock clutch lasted 120k miles.

The waterpump is $99 from NAPA and an hour or two at most to change.

You guys need to find better insurance companies. With 2 tickets on my record in the past 3yrs I pay ~$700 every 6mo for insurance (I'm 23). Thats with liablity, uninsured motororst, comp & collision. (I use Progessive BTW).

Insurance wasn't a huge factor for me when it came down to V6 vs V8. The V8 was only ~$50 more per 6mo. Same situation with my brother when we were looking for insurance for him (he's 17 FWIW).

 

this was true for me as well, which is how i was able to afford the z28

 

Sometimes your insurance rate will drop at 21, it depends on the company. It isn't an "official" drop like the one at 25 though, you will most likely need a spotless record.

You might want to look into a 350 third gen, it really isn't that far off from a LT1 honestly.

 

true stuff I think... depends onyour comepentancy...

I am pretty good when it comes down ot a serious problem, I have solved problems in the first try 4 differnet times on my car without even scanning my codes.

But I will admit I have spent a mini fortuen on hte tools needed to do these repairs. Hell I half pioneered a v64wheel disc brake swap on a guess it woudl work .

I jsut get worried about buying a car and tranny problems(next tiem I will try miyself, though I usually go ot a hsop) I might try to follow it, I know its not a total money pit but witha used sports car with soem 5-6 years and some miles on it it can be a nightmare.