Author Topic: 1962 Convertible Advice  (Read 1433 times)

Offline Shannon Steele

  • CLC Member #24304
  • Posts: 7
1962 Convertible Advice
« on: April 23, 2008, 05:27:04 PM »
Hello to all--I am considering the purchase of a '62 Series 62 convertible.  It is supposed to be rust-free, in excellent condition (both body and interior), with a 390 cu. in./325 hp original motor, factory A/C, PS, PW, PB, etc. and everything working.  The car is supposed to have 105,000 original miles, and is a "west coast" car.  I have not yet seen it, but not being an expert would like anyone in the group's opinion on anything specific to look for (special problem areas, things that are very expensive to fix, things to verify, etc.).  I would also appreciate opinions on a fair price to pay, assuming it's as described.  (I've looked in several guides, and the prices seem to be all over the map, depending on which guide you look at).  Finally, any comments re the long term "investment" or collector-appeal of this car would be appreciated, and does anyone know if it will run on high-test, unleaded gas, as is currently available at normal stations?  Thank you.  Shannon

Offline Fred Zwicker #23106

  • Posts: 616
  • 1930 LaSalle Conv. Coupe - Restored
  • CLC Number: 23106
  • Name: Fred Zwicker
Re: 1962 Convertible Advice
« Reply #1 on: April 25, 2008, 04:51:31 PM »
 ::)  First no matter how nice the pictures and no matter the description, it has always been my policy to personally see and inspect an antique car before even considering a purchase.  I also take a flashlight and look up under the car and under the fenders (you would be surprised at what you might find).  I recently looked at a '57 Chevy convertible for $89K asking price that was stunning on the outside, but when I looked under the car found enough pop rivets and sheet metal screws to start a small hardware store.  Also take a good look at the trunk area and under the hood, as these often look quite rough as compared to the exterior.  I would ask a lot of questions - bring a list and also bring someone knowledgeable with you if possible. Check to see if everything works (radio, AC, clock, lighter, gauges, windows). See how the doors open and close.  See how the car sits - should not sit too low, which can indicate a high-mileage car.  If car is on the west coast and you are serious, you should be able to get a CLC member to assist for a small fee or nice lunch.   I like to know the history of the car and I write everything down as it is relayed to me.

Is the car you are interested in being sold on Ebay?  (If so, contact the seller directly to get more information and hold your bid until you can see the car in person). Is it being sold by a dealer?  Is it being sold by an individual - if so is individual a CLC member?   Try not to get carried away too much as there are always more and prices are soft at this time. According to your profile you are from Florida and there are a lot of nice cars in Florida, which will simplify your search.  I also would not confine my search to one particular year or model, as the primary concern is the overall condition as noted above. 

Sometimes a car will show up in your own backyard.  In my case, was interested in an older Cadillac convertible with power steering and brakes and automatic transmission so that my wife could drive it, so was checking out those from the 50s through the 60s (old but not too old and without the 4100 engine).  I looked for about 2 years and tried to keep my interest to a reasonable level.  Just a week ago located (locally) a beautiful red 1966 Cadillac convertible (from a good friend and a CLC member) with 28,500 documented original miles - an older perfect restoration and in near-perfect condition with no rust and perfect chrome, new top, 5 new tires, etc.  When I looked at the car, it wasn't even washed, yet looked darn good.  The owner tossed me the keys and we exchanged vehicles and I drove it home on the turnpike (25 miles). No surprises - ran perfect at 70 mph, handled even better, temperature stayed cool, no rattles, no vibrations, windows and all gauges worked and absolutely no rust or dents. I also knew the complete history of the car since the mid 1970s.  Since then I waxed the car and found a few very small (1/8" or less) stone chips which I touched up, but nothing else has shown up.  The car runs nicely on high test, but it might run on regular or medium grade (anyone know about this?).   

If you find something and you really get interested, I would want to drive the car and not just around the block.  You want to run it a bit to see how it handles and see if it heats up, etc.  Check the guides, especially NADA and www.manheimgold.com   Prices will vary but can be averaged and keep in mind that the market is quite soft today, so discount the average selling price accordingly.  Check recent auction figures and compare.  Whatever the asking price try about 20% lower, as now is a good time to buy.  Here are 2 pictures of my 1966 convertible, which IMO was a great buy at $18K, considering the overall condition, low mileage and history.  There are nice cars out there - you just have to spend weeks or months looking.

Good luck in your search,

Fred
1930 LaSalle Convertible Coupe, CCCA Senior
1939 LaSalle 2-Dr. Conv.  CLC Senior in 2008
1940 Cadillac Series 75 4 Dr. Convertible
1947 Cadillac Series 62 Convertible Coupe
1948 Cadillac Convertible - modified by Holly (driver)
1966 Cadillac DeVille Conv. Restored - Red
See Pictures at www.tpcarcollection.com

Offline Shannon Steele

  • CLC Member #24304
  • Posts: 7
Re: 1962 Convertible Advice
« Reply #2 on: April 27, 2008, 03:28:36 PM »
Hi Fred--Thank you for your well thought-out and thorough response.  I agree with everything you said, and have decided to pass on the particular car I was considering.  It's located in Taos, NM, and I've decided it really would make sense to check it out in person, but I don't want it badly enough to go to the expense of flying out to check it out.  (I've been following the horror story that one member has related re his '76 Eldo Convertible bought sight unseen off ebay).  Plus, in the meantime, a car I had given up on (not a Cadillac, though) looks like it is for sale, and I'm going to look at it tomorrow.  If anyone is interested in the '62, they can contact me and I'll give them the info.  The asking price was $17,500.

I am still interested in finding a '31 7-passenger sedan, if anyone knows of one for sale at a reasonable price.  I have an old post re this search, but haven't pursued it too hard lately.

That's a beautiful '66 you bought, and what a great price!  Congratulations; I guess it proves that patience pays off.

Shannon

Offline Fred Zwicker #23106

  • Posts: 616
  • 1930 LaSalle Conv. Coupe - Restored
  • CLC Number: 23106
  • Name: Fred Zwicker
Re: 1962 Convertible Advice
« Reply #3 on: April 27, 2008, 05:30:48 PM »
Hi Fred--Thank you for your well thought-out and thorough response.  I agree with everything you said, and have decided to pass on the particular car I was considering.  It's located in Taos, NM, and I've decided it really would make sense to check it out in person, but I don't want it badly enough to go to the expense of flying out to check it out.  (I've been following the horror story that one member has related re his '76 Eldo Convertible bought sight unseen off ebay).  Plus, in the meantime, a car I had given up on (not a Cadillac, though) looks like it is for sale, and I'm going to look at it tomorrow.  If anyone is interested in the '62, they can contact me and I'll give them the info.  The asking price was $17,500.

I am still interested in finding a '31 7-passenger sedan, if anyone knows of one for sale at a reasonable price.  I have an old post re this search, but haven't pursued it too hard lately.

That's a beautiful '66 you bought, and what a great price!  Congratulations; I guess it proves that patience pays off.
Shannon


Thanks Shannon - I don't mind traveling around the midwest and maybe even the east coast (from NE Ohio), but when a car is located on the west coast or anywhere beyond a one-day drive, I lose interest very fast.  What a disappointment it would be to fly to NM or CA to see a car and find it not to be as described.  (Still better to do that than to go by the pictures and written description).  Some ask other CLC members to check out the car, but that is putting a lot of pressure on them and I would hesitate to ask unless I knew the member very well.  I wouldn't want to do this for anyone else either, as each person has a different view of the condition. What might seem mint to someone else might seem just OK to me and what I think to be mint condtionconditionot meet the same degree of enthusiasm from another. Besides half the fun is in locating and checking out cars yourself, hoping to find the "needle in the haystack".  The trouble is there are not too many needles left and most are rusty.

Usually (not always, but 90% of the time) any car shows better in pictures than when seen in person.  The '66 Cadillac that I bought was the exception in that it shows better in person than in the photographs, as it is fairly close to perfect (nothing is perfect).  I was so lucky to find this car locally and from a long-time friend and fellow CLC member who was the owner of the car back in the 1970s, so the history and mileage were both verifiable.  Buying from a club member is always a good option, but the supply can be limited, as most keep their better cars.  You have to be in the right place at the right time and be able to make a fast decision when the time comes. So many buyers wait, ponder and delay and see a great find disappear right out from under them.   Again, good luck in your search and  sooner or later you will find exactly what you are looking for at the right price and hopefully fairly close to your home.  At that time you will be so glad that you waited it out.  Usually the way it works is that you buy something that is just OK and after getting the car, (within a month or two) will  find somethng exactly like you wanted and at a lower cost.  Then what?


Fred
1930 LaSalle Convertible Coupe, CCCA Senior
1939 LaSalle 2-Dr. Conv.  CLC Senior in 2008
1940 Cadillac Series 75 4 Dr. Convertible
1947 Cadillac Series 62 Convertible Coupe
1948 Cadillac Convertible - modified by Holly (driver)
1966 Cadillac DeVille Conv. Restored - Red
See Pictures at www.tpcarcollection.com

 

Sitemap 1 2 3 4 5 6 7 8 9 10 11 12 13