Value of 94 Eldo TC with 20K miles

Started by Bob Hoffmann CLC #96, January 09, 2007, 10:08:56 PM

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Bob Hoffmann CLC #96

It seems like yesterday that I took new car delivery of my 94 Eldo touring coupe ,all black, loaded, with sun roof. It now has 20K miles on it. ALL original except fluids. Obviously I dont drive it very much. So, what to do? Sell or? Im open to price suggestions or interest on or off the board. PLEASE dont tell me to look on Ebay. All I see there is 100K mile plus junkers. Thanks, Bob

Greg McDonnell CLC # 20841

Bob,

I wouldnt suggest Ebay for a car like yours.  A low mileage, pristine car like yours is not likely to be found on that venue.  What about Edmunds or N.A.D.A.?  Would they have realistic used car values?  I used a variety of sources such as these two when trying to place a value on my 98 SLS back in 02.  I was able to come up with an average of seven different values actually (all off the internet).  They usually have a percentage to use as a multiplier when the mileage is low too.  Of course, you could hire an appraiser but that would cost you $50-$100 and he (or she) would probably use the same resources you could find on the net.  

Just my .02 worth...

Greg

David #19063

Hello Bob,

I cannot remember if that is a Northstar car or a 4.9L.

The best advice I can suggest is to be reasonable.  And it will come down to what you will accept for a price.

I look at everything as...is this a good financial investment or not?

My insurance (SF) will only pay NADA Average Retail based on mileage for a total.  Other insurance companies will find the average value of that car currently for sale (usually less than NADA Avg.)  So, I would never pay more than I would receive if it is totaled.

NADA Avg. Retail w/20,000 miles - $5,925
NADA High Retail w/20,000 miles - $6,900

Now everything depends on whether one is selling the car or buying the car.  If I was buying it, I would lowball it.  If I was selling it, I would try to highball it.

When I buy a car 5-15 years old, I do look for lower mileage cars.  However, I also look at what I need to spend on it right away.

Ideally, you will find someone that wants your car for a show car and will not drive it much.

More than likely, the person that will be buying it will use it as a daily driver 12-15,000 miles a year.  In that case, one will to buy as low as possible due to potential repair needs.  When super low mileage cars are started to be driven constantly, generally some issues arise in the repair department.

First off, if I was buying it, I would figure on the following:

Due to the car being 13 years old:

$400-$600 for a new set of H-rated 225 60R-16s.
$100 for a serpentine belt.
$200 for new radiator & heater hoses & flush.
Then maybe $400 for a tune-up, plugs & wires.
I would strongly pray that the electronic struts/shock never go out.
And then deduct any other repairs it may need.

Thats how I see it.

Personally, I am going through a similar dilema.

My Father just gave me his 96 Lincoln Continental.  It has a hair over 51,000 miles and is very nice.  However, the tires are 6 years old with less than 1/2 tread left, it needs a rear view mirrow as the auto dimming is now non-fuctional, and the air ride suspension leaks out the air after about 48 hours (although it pumps right up upon starting and drive fine) repair is $2,500 for factory replacement of suspension at all 4 wheels, $400-$600 for H-Rated tires, probably $300 or so for the mirror.

Do I fix it or sell it as is?  Thats the dilema.

Generally, I have found sinking lots of money in a 10-20 year old car is not a good investment.  

Best of luck.

David

George

$3,500 is fair for an unremarkable 13 year old car.

George

George

This particular V-6 engine was subject to a factory recall for gasket seal problems (a recurring problem) that have always plagued this particular V-6 engine, it had it own HT4100 issues although much more reliable than the HT4100.  The air suspension repairs are more than the car is worth, and, like a 94 ETC, an unremarkable car with no present or future historical significance.

IMHO, cut your losses and move on. (Yes, I owned a 1990 Lincoln Continental.)

George


My Father just gave me his 96 Lincoln Continental.  It has a hair over 51,000 miles and is very nice.  However, the tires are 6 years old with less than 1/2 tread left, it needs a rear view mirrow as the auto dimming is now non-fuctional, and the air ride suspension leaks out the air after about 48 hours (although it pumps right up upon starting and drive fine) repair is $2,500 for factory replacement of suspension at all 4 wheels, $400-$600 for H-Rated tires, probably $300 or so for the mirror.

Do I fix it or sell it as is?  Thats the dilema.

Generally, I have found sinking lots of money in a 10-20 year old car is not a good investment.  

Best of luck.

David
[/quote]

David #19063

Hi George,

Thank you for your input.  I appreciate hearing the pros and cons.

Actually, the Continental has the 260 hp Intech 32V V8.  Runs and looks beautiful and uses no oil compared to usual oil consumption of my 300 hp Northstar in my 129k mile 96 Concours.  My NS uses the same 2-3 quarts ever 3000 miles, just like it did when we bought it with 27k miles over 8 years ago.

More than likely, I will be selling my 96 Concours soon for $2,000-2,500 as I am waiting for an friend to be getting their new car and selling me his very nice 01 Buick Ultra.

The dealer wants around $1200 for the air ride repair for the front, I assume the same for the back, so $2400.  They prety much just replace everything.  I have heard that sometimes it is just O-rings leaking air.  Strutmasters.com has a complete 4 wheel kit with passive struts for $549 or without the struts for $469.  But I have to find someone to install the kit though.

In 97, the Continentals dropped the air ride from the front axle.  (Smart move for us consumers.)  If someone like the COntinentals, I would suggest getting the 97-02 only.

David

George

Continental or Town Car?


Quote from: David #19063Hi George,

Actually, the Continental has the 260 hp Intech 32V V8.  Runs and looks beautiful and uses no oil compared to usual oil consumption of my 300 hp Northstar in my 129k mile 96 Concours.  My NS uses the same 2-3 quarts ever 3000 miles, just like it did when we bought it with 27k miles over 8 years ago.

More than likely, I will be selling my 96 Concours soon for $2,000-2,500 as I am waiting for an friend to be getting their new car and selling me his very nice 01 Buick Ultra.

The dealer wants around $1200 for the air ride repair for the front, I assume the same for the back, so $2400.  They prety much just replace everything.  I have heard that sometimes it is just O-rings leaking air.  Strutmasters.com has a complete 4 wheel kit with passive struts for $549 or without the struts for $469.  But I have to find someone to install the kit though.

In 97, the Continentals dropped the air ride from the front axle.  (Smart move for us consumers.)  If someone like the COntinentals, I would suggest getting the 97-02 only.

David

Bob Hoffmann CLC #96

How did my my post get turned into one about Lincolns???

Bruce Reynolds # 18992

Cant trust anyone these days.

Bruce,
The Tassie Devil(le),
60 CDV