Opportunity???

[32valvZ]

I have a good friend who called me yesterday and told me his brother in Utah was in financial distress. Due to that fact, his 90 ZR-1 was for sale. The car is a Red/Tan with 14,000 miles on it. The asking price is very low.

I already have my 92Z and a 02Z06. I dont really need or want another one. I have a couple of options here though. One, buy it and sell my 49,000 mile 92ZR-1 in the name of having an all original 90 ZR-1 instead of my modded 92. Second, buy it to re-sell. I would think that $20k-$22k would be a fair asking price for an original low mile car.

I know the market is slow right now, but cars are still selling. I dont mind waiting a while to make a few grand. What would you guys do here?

[ZRWON]

Originally Posted by 32valvZ

I have a good friend who called me yesterday and told me his brother in Utah was in financial distress. Due to that fact, his 90 ZR-1 was for sale. The car is a Red/Tan with 14,000 miles on it. The asking price is very low.

I already have my 92Z and a 02Z06. I dont really need or want another one. I have a couple of options here though. One, buy it and sell my 49,000 mile 92ZR-1 in the name of having an all original 90 ZR-1 instead of my modded 92. Second, buy it to re-sell. I would think that $20k-$22k would be a fair asking price for an original low mile car.

I know the market is slow right now, but cars are still selling. I dont mind waiting a while to make a few grand. What would you guys do here?

A similar rarer color than red '90 with all original docs and 35K miles in great condition recently sold out here for ~$16K. I thought hard about buying but was too slow in acting; my friend got it instead. That made my wife happy though.

[32valvZ]

I can probably get this 14k mile car for less than $15k Almost 2 years ago exactly, I picked up my almost all original 92Z with 45k on it for just under $16k

[32valvZ]

C'mon guys, 51 looks, no frikken opinions? Help a brotha out..... what would ZR1net do??

[ZRWON]

Originally Posted by 32valvZ

C'mon guys, 51 looks, no frikken opinions? Help a brotha out..... what would ZR1net do??

PM OR EMAIL ME me a contact or phone # so I can talk to owner direct and maybe make a cash offer: no it will not be in the $22-24K range.

[tccrab]

If you have the extra $$$ and time, it's a no-brainer.

If you really are "Good Friends", and he really knows what's he's losing, here's an option:
Negotiate a deal with him, giving him the money he wants for the car under the understanding that he can buy it back later (when and if his fortunes turn around) for what you paid plus any expenses that you have along the way plus a small "appreciation fee". The bank only gives, what, 3% on savings, so add a 5 or 7% fee for the duration. Put it in writing and set a time limit so that it's clear that after 6 months or a year or so, the "buy-back' deal is null and void.

I don't think it would be right of a Brother to take advantage of another Brother's financial situation in bad economic times.
The Brotherhood of the Beast is what sets us apart as keepers of the flame.
This way it's a win-win situation.
You get the car for a steal. If he want's it back in 6 months or so, you've made more on your investment than what the bank would pay.
If he doesn't want it back, you make even more. But at least your conscience would be clear.


Just a thought.

Now if it were a sleazy used car dealer trying to unload the car because it wouldn't sell, then heck yea, I'd buy it and flip it right away.

TomC
"Crabs"

[32valvZ]

Originally Posted by tccrab

If you have the extra $$$ and time, it's a no-brainer.

If you really are "Good Friends", and he really knows what's he's losing, here's an option:
Negotiate a deal with him, giving him the money he wants for the car under the understanding that he can buy it back later (when and if his fortunes turn around) for what you paid plus any expenses that you have along the way plus a small "appreciation fee". The bank only gives, what, 3% on savings, so add a 5 or 7% fee for the duration. Put it in writing and set a time limit so that it's clear that after 6 months or a year or so, the "buy-back' deal is null and void.

I don't think it would be right of a Brother to take advantage of another Brother's financial situation in bad economic times.
The Brotherhood of the Beast is what sets us apart as keepers of the flame.
This way it's a win-win situation.
You get the car for a steal. If he want's it back in 6 months or so, you've made more on your investment than what the bank would pay.
If he doesn't want it back, you make even more. But at least your conscience would be clear.


Just a thought.

Now if it were a sleazy used car dealer trying to unload the car because it wouldn't sell, then heck yea, I'd buy it and flip it right away.

TomC
"Crabs"

My good friend is the brother of the guy who wants to sell the car in Utah. If it were my friend here in Colorado, I would suggest your idea to him. The feeling I get is the seller just wants out of the car. These guys are much older than me and believe it or not, dont even use computers Ive been trying for a couple of years now to get my buddy on the Z06 site or CF, he still hasnt done it!! I suggested that the seller put it on the internet and he said "my brother doesnt do computers either"

My dad and I are thinking of going in 50/50 then selling it. He wants a C5 vert, and I just need some extra $$, so we might go this route......

[Z Factor]

Originally Posted by 32valvZ

C'mon guys, 51 looks, no frikken opinions? Help a brotha out..... what would ZR1net do??

I hate to say it, but this is the wrong time to be selling unless he is desperate. I believe things are going to get worse in the coming year, so buying a ZR-1 to resell is going to be a longer term investment.
He can obviously sell it for under $15k to you, but do you really want another Z sitting around? As you said, you can sell yours and keep this one, but you have put time and money into yours getting it the way you want.
If you have the room and financial resources then go ahead as it will be a win win. Otherwise I'd suggest you have him either list it on ebay and put his lowest price as the reserve, or hire a broker who only gets paid if he sells it at the price your friend want to get(minus the commission of course).

[32valvZ]

Good points, thanks!

[QB93Z]

My opinions:

1. Don't buy the car if you don't have a place to store it.

2. Buying a 1990 ZR-1 now, with the plan to resell it and recover your costs is not a good idea right now. Maybe in the future, but you will have to be very patient. There are many more ZR-1's on the for-sale market now and I don't think the selling prices will climb any time soon.

3. Buying the low miles '90 to sell your '92 has the same problem as #2 above. You get stuck trying to sell at a bad time.

4. If the owner is in a financial situation that you feel you should offer assistance to, help him sell the car outright. You may be able to get the car listed appropriately and successfully with your internet skills.

5. When selling a car. Sell the car. Most buyers don't want to hear all the drama behind why the car is being sold. Describe the car accurately, post lots of pictures and name a fair price. Then listen politely to all offers.

Good luck.

Jim