Re: Update on '80 GTSi
Sounds like you gave the car a good thorough look over. I agree that $25 is way out of the ball park. It may even be a bit too high if all that stuff is repaired. NADA blue book is showing $22,500 as an average retail price for a car in good condition overall. $18,200 is what it shows for a car in the condition you describe. I added a few comments to your observations.
1. Originally it was Metallic Silver/Grey – the clear coat began to peel and it was repainted the same color. ---Not a problem if it was well done.
2. It needs a new steering rack and alignment – there seems to be rear wheel negative camber and may require complete rear suspension bushing replacements. ---- A new steering rack is expensive. Someone else on this site found that the steering rack on a Mini is similar and you can use the parts from it to rebuild the 308 rack. Check the tech section.
3. The A/C belt was removed three years ago – do not know how much work it will need to run again. ---- This could be very expensive. The pump may be frozen. Depending on where you live this may not be an immediate issue. The AC on my car doesn't work and I just haven't bothered fixing it.
4. The windshield has an 8-inch crack in the tinted section and will need to be replaced. ---- $500?
5. The car idles very high – about 2500 RPM. ---- Could be the fuel injection system or it could be an ignition problem. Either one would probably be at least $500 to sort out. It may also be that the idle was turned up because the car won't run at the lower idle?
6. The seats are very worn, faded, and dry – not soft and will need to be replaced/recovered or redyed. ---- They can be sent out and redone. I have no idea what that costs. I would guess no less than $500 ea.
7. Parking brake is not working. ---- cables stuck?
8. The speedometer is not working – could it be a loose connection? --- the speedometer impulse generator is a common failure on the 308. $90 for a new one and easy to install. Because the speedo isn't working you must question the mileage.
9. The air pump was disconnected years ago and is now frozen in place. --- I know guys that run without them and haven't had a problem.
10. The lower section of the door panels were filled with bondo at some point – I was told that this is because the panels were all hand fitted into place and that they all have some bondo? --- I've never heard that but it does not sound unreasonable.
On both passenger and drivers sides there has been some bondo filled in where there was rust at the lowest point of the front quarter panels – an area the size of a mayonnaise jar lid.
Both lower edges of the doors show rust and rot from the inside edges along the length of the door. ------ Bigger problem. The bottoms of the doors are a common rust area. The doors should be removed to be properly repaired. Along with the area on the front fender the problem you may have is matching the paint. Metallics are hard to match and where the car was already repainted it may be more difficult to blend it in. You will probably be able to see where it was repaired after.
It was repaired poorly with bondo and the rubber door gaskets are missing.
Underneath the car at floor pan level, there is a ¼ inch thick aluminum plate about the size of a shoebox lid – is this standard or an add on? ----- I don't recall seeing one under my car, but then again I never specifically looked for one. The underside of my car is fairly clean.
And finally… the traditional Ferrari oil leak. ---- My car leaked a bit out the cam seals when I got it. The dealer told me it leaked a bit. All the leaks went away once I started driving the car. The seals shrink when they sit.
The good points are that is has 47,000 miles and I really like the color combo – Silver on Red and Black.
The transmission shifts beautifully with no flaws.
It appears that the car has never been in an accident.
Asking price $25K.
I was thinking of $18K.
What are your thoughts?
Other things to think about - at 47k questionable miles the car is due for a major service. Cam belts, valve adjustment, etc. The water pump may be an issue also. It looks to me that you've got a car that will require no less than $5,000 to put it right. Some of the issues (seats, rusty doors, etc) can be put off for a year or 2; but the car does need a bunch of money right away (engine, windshield, steering, etc.). If you can get it for $18 I think the car will always be worth what you've got into it. For anything over 20 you could probably find a better car elsewhere (but not in that color, how much is the color worth?).
