in my neighborhood there is a gentelman with an 86 iroc z, which has been sitting in his driveway since i moved into my house about 12 years ago. so, i'm going to try and buy it from him, ask him to take a look, maybe shoot him an offer. the only thing is that i'm not familiar with these cars other than what i've read on here and a few other sites. what should i look for in these cars? i am looking for a project car, so as long as the frame isn't rusted out completely, i'm probably going to buy it. there is some rust on the sides and top of the car, so it'll need to be refinished. i haven't gotten an upclose look at it yet, but i can tell it's an 86 from the center stop lamp on it. another question would be how much should i offer him for it? i'm not sure if it runs or not, so a price range would be nice. the final question is when i do paint it, where can i get the iroc z decals that go on the bottom of the doors? thanks everybody, i appreciate any help you can give me.

 

so many questions; so little time

the only way to tell the year of the vehicle is to run the VIN. You can put a high brake light on a 50's vehicle if you are so inclined

frame- the car is a unibody so it does not have a frame so to speak

where are you located? Has the vehicle been sitting outside not running for those 12 years? or, has it been run just a few times?

please define "project vehicle"?

to me, that means a vehicle which will not see the road until I'm done with it. It does not mean a car I'll try to drive while fixing things

you need to clarify your definition and decide if the vehicle fits your requirement

what to check.......................it's 20+ years old so assume many things will need to be repaired/replaced

 

Ok, first, the car has been sitting outside in a suburb of chicago. So, it's not great. As for my definition of project, it's going to be driven down the street to my house for storage and to get an idea of what needs to be repaired or replaced. Then it's going to my schools auto shop to be worked on. Other than that, it's not going to be driven.

 

Sorry for the double post, I'm on my phone and can't edit. I should also mention I don't think the car has been driven since I've been here, but I don't know for sure. I'm in class all day, and I think the guy might be retired, so he could be driving it daily without me knowing.

 

There are so many 3rd gens out there that are in good shape (and run) for cheap, so unless its primo...your offer should be very low.

 

You can pretty much figure the car won't run, not without a bit of work.
A few years back I bought a 91, from the original owner, that had been sitting for only 2 years. It wouldn't run, but the body was flawless (no rust), and the interior was mint. I felt good about the car (and seller), and paid $1,000 for it. The PO just had new brakes and tires put on before parking the car. The not running problem was a lack of gas flow problem from the rubber fuel pump to sending unit connector deteriorating and split open. And that happened from sitting only 2 years. After installing a new fuel pump, exhaust system, giving it a full tune up, changing all the fluids, and other misc. stuff, I had a darn nice second owner car for the money.
From the sound of the one you're talking about, it might be worth only a few hundred bucks. The neighbor might be insulted, but that's the reality.

 

thanks for the advice you guys, i appreciate it. and i am ok with having to work on the car. i suppose the only issue will be getting it to the shop. as far as price, can you guys be a little more specific? are we talking $500? less than that? or more? also, if he does agree to sell it for that price, what kind of paperwork will i need? this will be the second time i've bought a car, and the first time i had my parents with me, and they handled most of it. just so you guys are aware, i am only 16, and i do have my parents permission for all of this, but i'd like to handle it on my own for the most part. obviously i'll need some signatures from them, but i'd like to come across as someone who has done his homework to this guy so i don't look like some stupid kid who just likes red cars. again, thank you so much for the help.

 

Update here, some things are going my way, and I'll have plenty of cash to get this car, so I have some questions. First, can anyone actually put some numbers in this price eqation? I need to know so I don't waste my money. Second, where is a good place to lift this car? I'd like to take a look under it to check for rust. Thamks guys!

 

A ready/willing/able buyer and a ready/willing/able seller are what determines price.

To you it might be worth $10,000 and t me it might only be worth $300

it has ZERO collector value

assume it's not running
assume tranny needs rebuild after sitting so long
assume engine needs to come out and rebuild
what is the shape of the interior
the tires are probably rotted if they have tread at all

fuel lines will need to be cleaned if not replaced
tank will need to be dropped and cleaned (replace pump while there)
hoses will all be cracked

that is before you even get into the interior or exterior

so, you need to decide if you really want to drop the money into it

you also must decide what shape you want the vehicle in when you are done

if you want a vehicle which limps along and looks like crap then try to get it running and pray for the best and junk it if you can't

Only Y O U can determine your offer price. If you aren't prepared to sink $thousands into a vehicle, which when you are done, will be worth 40-50% of what you spent..........then move along.

I bought an 89RS with a running 305 and shifting 700r4

no parts were missng

new brakes
4 new tires

I paid $500, basically the value of the new tires.

I proceeded to restore it and that includes rebuilding the engine and tranny and putting in a brand new interior and then painting. I have a thread here in the project section so you can see how far I went.

 

4 years ago, I paid $1,000 for this one owner cream puff (inside & out). But then had to do things to it (as mentioned in my above post) to get it running and back on the road. It's an RS though, not an IROC, but still....
Based on the one you're describing, without seeing in person, I wouldn't pay more than a few hundred.