Your opinions on selling an incomplete project '69....

[UH60L]

As much as I would hate to do so, I have been entertaining the idea of selling my charger due to self inflicted financial hardship.

My '69 has had all the bodywork done except for the grill/headlight support and having the shop cut the hole for the antenna in the new fender (they forgot...).  The engine, 440, and tranny, a727b, are installed but need linkage carb and fan installed.  The driveshaft needs cleaned, balanced and reinstalled.  The rear brakes need redone.  The wire harness needs to be installed.  I have all new glass, but have not put any of it in, and I have not purchased anything for the interior yet (I have seats that need redone, but no panels or carpet or headliner).

I have approximately $35,000.00 into it but I was thinking that realistically, unless I find a rich guy that feels sorry for me, I might get $20,000.00 at the most, just because it's not finished.  Most local people I have talked to are not interested in finishing it, they want something turn-key.

What do you guys think a fair price would be?

[73rallye440magnum]

You'd come out WAY ahead finishing it.

[Old Moparz]

Can't give you any kind of accurate price of what it's worth as an almost finished project, but it sounds like you should push to at least get it together to make it more desirable to a wider range of potential buyers. Forget doing the interior & cosmetics, try to get it to where it can move under it's own power & you cannot only sell it for a higher price, but sell it faster.

It doesn't seem like now is a good time to recoup on a project.  

[UH60L]

Can't give you any kind of accurate price of what it's worth as an almost finished project, but it sounds like you should push to at least get it together to make it more desirable to a wider range of potential buyers. Forget doing the interior & cosmetics, try to get it to where it can move under it's own power & you cannot only sell it for a higher price, but sell it faster.

It doesn't seem like now is a good time to recoup on a project.  

Unfortunately that isn't possible right now due to lack of money.  Of course, if it was driveable, I think it would be that much harder for me to part with.   

A combination of poor choices on my part has put me in a situation where I may have to file for bankruptcy, and I hate the idea of doing that.  Gotta do something though.  That's the only reason I am considering selling my car.  I really don't want to, but food and electriciy are more important.....

[greenpigs]

Is it possible to get it driveable with what you have?

I am not talking complete or anything but at least enough to take for a drive.

Does it run as is?

[1974dodgecharger]

It does not seem like you need much to finish it? Granted finished I bet it will be worth 35k, but the question still remains who will pay 35k not everyone has 35k lying around for a 'toy' ya know.

I say like everyone else finish it man spend an extra what 5k maybe and get it going and then sell it for 35k or so.....


BTW its a nice one man sorry to hear for the troubles.

[bull]

Sounds like it's a catch 22. You would obviously do better if you could work enough to get it running and driving but apparently that's not an option. So, all you can do is sell it as-is for as much as you can get.

[Darkman]

Would selling really bail you out that much? Once sold, you lose the asset and once the money dries up, then what?

I'm not proclaiming I know your situation, but selling something like a car to bail you out may not be the best option. Do you have other stuff you can sell off? Yard sale?

[6pkrunner]

You will lose way too much selling as is. Only a gear head will want it in that state and usually a gear head wants to start at square one to know what he has. The only guys you'll attract are the guys seeing a chance to make a killing.

[Troy]

You'll lose a LOT. A non-driving project might return 25-40% of what you have in it (I know, I've sold several). In this market, a finished, drivable car will hardly return what you have in it. Not to mention, when you get into the higher priced cars (pretty much not a basket case), it is nice if the buyer can get a loan for the car. Unfortunately, classic car loan companies won't loan money on a "project". It must be assembled and "run" at the very least. Some require it to be drivable but I haven't seen an inspector yet who checked. I have a couple "easy" projects that I pulled off the market because I wasn't prepared to lose that much. If people know you are in financial trouble (or even sense you are desperate) they'll never offer you more than pennies on the dollar. Be prepared for offers of 15% or less from people who are hoping they catch you on the right day. I guess if you truly are desperate then maybe $5-6k would be the answer to your prayers - but it would be a hard pill to swallow.

Troy

[Dino]

I don't know the history of your car.  If it has some rare/wanted options you'll attract a bigger crowd but to be honest I doubt you'll get anywhere near what you want or need for it.

[ChgrSteve67]

You will probably get more of your money back by parting the car out rather than selling it as a uncompleted project.

[PocketThunder]

What do you guys think a fair price would be?

Got more pictures than your Avatar picture for us to give you a better estimate on price?   

[elanmars]

Definitely need more pictures-I'm looking for a '69 since mine was destroyed and I've seen a lot of projects, cars needing a lot of work, cars in middle of completion and very very nice cars beyond my price range. Not knowing how it really looks besides your avatar pic, I've seen cars just like yours going for $5800-12k, including R/T bodies/projects.

that really sucks about the situation you're in, been there, not fun but hope you can pull through it.

[Rolling_Thunder]

that is unfortunate - i'm in a similar boat with my 69 Road Runner - complete project i'm trying to offload with no interest at all. 

[PocketThunder]

Definitely need more pictures-I'm looking for a '69 since mine was destroyed and I've seen a lot of projects, cars needing a lot of work, cars in middle of completion and very very nice cars beyond my price range. Not knowing how it really looks besides your avatar pic, I've seen cars just like yours going for $5800-12k, including R/T bodies/projects.

that really sucks about the situation you're in, been there, not fun but hope you can pull through it.

Found it:  http://www.dodgecharger.com/forum/index.php/topic,72573.0.html

[mauve66]

if selling it for 5-10K won't get you enough stop the bankruptcy then just keep it and file, they won't be able to take it either cause the appraiser your attorney will send over will appraise it for about 3500, maybe less if you hide all the extra parts you have and take the intake off the motor so it looks worse than it is. 

[UH60L]

Is it possible to get it driveable with what you have?

I am not talking complete or anything but at least enough to take for a drive.

Does it run as is?

My total monthly bills come to more than what my total monthly take home pay is.  I would literally haev to stop paying say...my house payment for a few months to get the car driveable, and that really isn't an option.

[UH60L]

It does not seem like you need much to finish it? Granted finished I bet it will be worth 35k, but the question still remains who will pay 35k not everyone has 35k lying around for a 'toy' ya know.

I say like everyone else finish it man spend an extra what 5k maybe and get it going and then sell it for 35k or so.....


BTW its a nice one man sorry to hear for the troubles.

I hear what your saying, but if I had 5 grand lying around, I'd pay off a couple of my smaller bills and not be needing to sell the car.  Unfortuantely my charger is the only major thing I own that I don't owe money on.

The other thing is, I'm missing some things, small things in the big picture.  Also, I didn't take the car apart, the shop did, and I don't know how some of it goes back togeather.  I really need money, time, and someone who knows what all the parts in the boxes are, and then just sit down and work on it for a week or two straight, but I don't have the money, know how, time, or local person to help.  That's why it isn't done yet.  Kidn a frustrating actually.  Especially when I see guys in my club finishing a whole car in 7 months.

[UH60L]

Would selling really bail you out that much? Once sold, you lose the asset and once the money dries up, then what?

I'm not proclaiming I know your situation, but selling something like a car to bail you out may not be the best option. Do you have other stuff you can sell off? Yard sale?

I wouldn't be selling to live off the money, but to pay off some bills, and get right side up on my monthly bills.  Long story short, part of the problem is we bought a new car last year, and in trading our old one in, our payent more than doubled.  There were some questionable ethical issues with the sale and I should not have signed the paperwork, but I let my pride and my right foot talk my hand into signing the forms, and now I'm kinda stuck with the payment.  I'm just looking to eliminate some of my monthly payments.

[UH60L]

I don't know the history of your car.  If it has some rare/wanted options you'll attract a bigger crowd but to be honest I doubt you'll get anywhere near what you want or need for it.

Naw, it's just a mutt, a 318 car that was converted to a 440 more than 20 years ago. I bought if ebay in 2004 and turned it into a work-in-progress daily driver, then dropped it in the body shop in 2004.

[UH60L]

What do you guys think a fair price would be?

Got more pictures than your Avatar picture for us to give you a better estimate on price?   

Here is the link to the "my restoration" thread I started on here.  It has several pictures and info about my car.

http://www.dodgecharger.com/forum/index.php/topic,72573.msg814576.html#msg814576

[UH60L]

You'll lose a LOT. A non-driving project might return 25-40% of what you have in it (I know, I've sold several). In this market, a finished, drivable car will hardly return what you have in it. Not to mention, when you get into the higher priced cars (pretty much not a basket case), it is nice if the buyer can get a loan for the car. Unfortunately, classic car loan companies won't loan money on a "project". It must be assembled and "run" at the very least. Some require it to be drivable but I haven't seen an inspector yet who checked. I have a couple "easy" projects that I pulled off the market because I wasn't prepared to lose that much. If people know you are in financial trouble (or even sense you are desperate) they'll never offer you more than pennies on the dollar. Be prepared for offers of 15% or less from people who are hoping they catch you on the right day. I guess if you truly are desperate then maybe $5-6k would be the answer to your prayers - but it would be a hard pill to swallow.

Troy

Yeah, that's what I was afraid of.  $5-6k would probably keep us afloat too, but I definitely would never forgive myself for selling it that low.....

I guess, on that note, though this goes a bit off topic, anyone know how the bankruptcy laws work now?  I heard they changed the law concerning bankruptcy a few years back.  (IE can you exempt certain items like a house or a vehicle if you file chapter 7?)  I'm trying to look at all my options.

[1974dodgecharger]

I think it got changed again in 2012 Bush put in new laws awhile back on bankruptcy I saw plenty of people go through it and to be honest they say its harder (under bush laws) than it was before, but I didnt notice it and none of my friends noticed.

It was easier for them, but consider this when I say 'easier' they had no job, lost their home, and had NO car note (signed it over to family before finalizing the bankrputy) so essentially they had nothing to their name. 

Seems you have a home, but its not like home values have gone up so I dont think they would conisder that assets and I dont think the judge would consider your charger a asset either considering the fact the year and what not.  it be hard pressed to convince someone 'yeah my car went up in value every year' 

[Darkman]

It's never a good situation. I hope it works out for you

Maybe you could talk to a debt management company to help you out. Here in Aus, we have companies that take over all your finances (debts, income etc) and manage all the repayments until you are back on your feet. Could be an option if you have them in the US