All-
I am close to pulling the trigger but there are a few factors which push the value down. The shock towers appear to have surface rust on top but not below. There is also surface rust on the windshield. The car runs well with newer ignition points and a break 'tune up' recently. The block cracked and it has a replacement block. The passenger side was damaged in the past. This is the 6th owner. With no major rust apparent, would you proceed knowing of the replacement block and body work on the passenger side?
"Accident History:
As far as I am aware, the car has been hit from the side. The door and rear were dented, but since have been repaired. The car's frame was not bent. The title is clean.
Milage according to the odometer: ~42'000
There is rust around the windscreen (A-pillars), the bonnet, and the rear mud-guard area. Mechanically, the car is sound. I have not experienced any issues with it since I took it into my possession. It's never failed to start, nor has it ever broken down on me."
Here is my take, as someone who has a car with public baggage. When you refer to dragging the value down, I assume you mean value and not purchase price. The cheapest you will find any E9 project is around $8K, from what I've seen in the past few months (there are exceptions
). So the long term value may be affected by your observations but the seller is correct in that the car is priced to sell.
Regarding baggage, you are posting on a forum that the car has damage, six owners, etc. etc. I personally don't see that as an issue, given that the car is 40 years old. Yes it's possible that the rear fender and door skin were replaced. With that said, the shining examples on this forum had the front and rear fenders removed (see Ron's builds).
At the end of the day you are dealing with perception of quality. You could have a single owner treat the car like dirt but a single owner car. Meanwhile, you could have six enthusiasts treat the car with utmost respect over 40 years. This forum has examples of both. Ultimately, perception will prevail however. Unlike a house, someone will use your low purchase price and history to drive down your sale price if/when that happens. Consider it a calculated risk.
Lastly, assume that you will need to strip the paint to address the rust. Either that, or ignore it, only drive it in sunny weather, and store it in a protected area. I'm going with this option for a little while so I can enjoy the car for a moment.
