bdw18_123
04-29-2010, 08:48 PM
A buddy of mine is thinking about buying a '92 ZR-1 and he wants some opinions on the car's value from some ZR-1 experts. Except for the damage to the transmission tunnel, he said the car is very clean and in good condition. Car is #459. He posted this question over at CF (he's "eguyett1985" over there), I've cut and pasted his question here for him:
eguyett1985:
"I'm looking at picking up a 92 ZR1 with 43k on it. The car is Red/Black, 1 owner, window sticker, etc. Now here's the problem; the car had a minor electrical fire underneath in the trans tunnel, the reverse light switch shorted causing the harness to catch fire briefly which scorched the LH side of the floor next to the transmission and the area of the firewall below the wiper motor. The owner opened the hood right away and put the fire out; the underside of the hood is completely undamaged as is the engine and the interior.
The car was fully insured and the body shop and the insurance company were unable to locate a replacement harness over the past year and the car has sat in my friend's shop with a pending lien sale against it until last week when the body shop got title to the car. Unfortunately, the owner sent the insurance company the title he had in his possession 2 weeks earlier and accepted a payout on the car.
So now, I have been offered the car with the necessary minor floorpan repair made and the engine and trans on a pallet at a great price; I have located a perfect replacement harness and can put the car back together in short order. I'm just hesitant to buy it now that I ran a Carfax on it and it shows a Salvage Title. If I document the initial damage, is it going to deter a potential buyer somewhere down the road and/or what is the value going to be if I keep it? I just wanted to throw this out there and see what the consensus was with you guys that are Z owners."
eguyett1985:
"I'm looking at picking up a 92 ZR1 with 43k on it. The car is Red/Black, 1 owner, window sticker, etc. Now here's the problem; the car had a minor electrical fire underneath in the trans tunnel, the reverse light switch shorted causing the harness to catch fire briefly which scorched the LH side of the floor next to the transmission and the area of the firewall below the wiper motor. The owner opened the hood right away and put the fire out; the underside of the hood is completely undamaged as is the engine and the interior.
The car was fully insured and the body shop and the insurance company were unable to locate a replacement harness over the past year and the car has sat in my friend's shop with a pending lien sale against it until last week when the body shop got title to the car. Unfortunately, the owner sent the insurance company the title he had in his possession 2 weeks earlier and accepted a payout on the car.
So now, I have been offered the car with the necessary minor floorpan repair made and the engine and trans on a pallet at a great price; I have located a perfect replacement harness and can put the car back together in short order. I'm just hesitant to buy it now that I ran a Carfax on it and it shows a Salvage Title. If I document the initial damage, is it going to deter a potential buyer somewhere down the road and/or what is the value going to be if I keep it? I just wanted to throw this out there and see what the consensus was with you guys that are Z owners."