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Good deal? Eldo convert

Started by badpoints, February 27, 2023, 09:00:50 AM

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TMoore - NTCLC

That seems incredibly cheap to me - running, driving, top-operating converts for less than 10K are getting hard to find, and the seller seems to be honest in his description.  The missing A/C compressor would be a problem for me, but it looks like the car is up North, so probably not an issue for the current owner.  I am not a fan of the replacement aluminum radiator, but it shows that someone was at least keeping the car operational, which is also evidenced by the updated exhaust components.  If this one was near me, it would at least warrant an inspection.

hornetball

Looks like good bones, especially for MA.  Worth a visit I think.

billyoung

Age 68, Living in Gods waiting room ( Florida ) Owned over 40 Old Cadillac's from 1955's to 1990 Brougham's. Currently own a 1968 Cadillac DeVille Convertible and a 1992 Cadillac 5.7 Brougham.

Eric DeVirgilis CLC# 8621

#4
Only if content to live with the car largely "as is" should it be considered. Even at that, I think the car is overpriced as it sits. Just recently a friend sold a 1971 Eldorado Convertible in far better condition for $11,000- and there were plenty of twists and turns before it finally happened.

I've said it many times over, the best car is usually the cheapest and most satisfying to own in the long run. The importance of buying high quality cannot be overemphasized. Might be a different story if a show grade '71 Eldorado convertible were a $50,000/+ car but that is not the case. 
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

James Landi

I enthusiastically and fully concur with Eric.  I owned in '72 convertible--- it had "show chrome" some of it was pealing off, it had a well made vinyl interior (not leather), it ran well, and the floors were patched together and covered in metal and tar. The climate control did not work, and the absolutely necessary auto - level control would never run again. We used it as an "occasional" car in Maine.  I bought it from an CLC member  14 years ago for 4K, when it had 78K miles. What I didn't know was that the ancient coolant was rotting out the engine block's freeze-out plugs.  So referencing Eric's comment, if you're buying it as an occasional car, willing to put up with some features that would cost you half the price of the car to replace, then do safety replacements for brake lines, gas lines, engine and trans flush, etc. replace the timing gear and chain and create an acceptable "work around" for the very necessary rear air  suspension, that would likely be your starting point for cost of ownership. If the car was been truly neglected for many decades, you can expect more disappointments and costs (these cars and their frames RUST).  I'd have a thorough evaluation done, even though I've been a Cadillac "bottom feeder" my entire life.  You can purchase a lovely, used, modern low mileage modern Cadillac with those $11,000. You can purchase the best, well kept Allante in America for that money, and for the thousands you're likely to spend on the 71 Eldo, you can purchase a low mileage XLR that is among the finest convertibles Cadillac ever produced.  Thanks for posting, James     

badpoints

So if everyone thought logically, money wise , this car would be destined for the junk yard?

Eric DeVirgilis CLC# 8621

#7
Quote from: badpoints on February 28, 2023, 12:27:30 PMSo if everyone thought logically, money wise , this car would be destined for the junk yard?

They wouldn't necessarily become scrap material, but cars in marginal condition would be selling for a whole lot less. Too many buyers - especially those with limited funds - tend to look the other way to help rationalize buying something since options are more limited the lower the budget is. Years ago my father used to say a wrecked Corvette costs more than a new one on the showroom floor. It's because everybody had the $2,500 to "get in" psychologically, unaware of the costs of getting it over the finish line.  It's as true today as it was then: A stingy man spends the most. 
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

The Tassie Devil(le)

Quote from: Eric DeVirgilis CLC# 8621 on February 28, 2023, 01:03:04 PM........It's as true today as it was then: A stingy man spends the most. 
Really true.   In my case, I purchased the best one that I could afford, and, yes, I have spent more money on it that would have allowed me to purchase a good car, but as I wanted one with my special requirement,(TrackMaster - and I haven't seen one since for sale) what I purchased had that requirement from all the ones that I had looked at, I was very happy with my purchase.

Bruce. >:D
'72 Eldorado Convertible (LHD)
'70 Ranchero Squire (RHD)
'74 Chris Craft Gull Wing (SH)
'02 VX Series II Holden Commodore SS Sedan
(Past President Modified Chapter)

Past Cars of significance - to me
1935 Ford 3 Window Coupe
1936 Ford 5 Window Coupe
1937 Chevrolet Sports Coupe
1955 Chevrolet Convertible
1959 Ford Fairlane Ranch Wagon
1960 Cadillac CDV
1972 Cadillac Eldorado Coupe

badpoints

I don't think that stingy is the right word. A poor man spends the most a stingy man doesn't spend anything.

wheikkila

For myself I have always tried to purchase the best car I could afford. That needed repairs that I could fix. knowing that it would take years to correct the problems. And, I have lost. Do to major issues with the car that came up. Most of the time, I was able to drive them and enjoy the car. So I feel I did get something out of the car. And in the end. That is what we are all trying to do. If you think you are going to make money. You are in the wrong hobby.
                   Thanks Wayne     

Eric DeVirgilis CLC# 8621

#11
Quote from: wheikkila on March 02, 2023, 07:27:09 PMIf you think you are going to make money. You are in the wrong hobby.

Sorry but there are many who deal in classic cars for a living profitably and consistently. The key is knowing what you're doing just as it applies to anything where it comes to operating a business or investing.  Those who stick with quality condition have a far better chance of minimizing or eliminating losses than those who don't. 
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

dochawk

I am absolutely determined to never buy from a flipper.  Not a car, and not a house.

Flipped houses and cars come in two types:
1) The seller is hiding something that is wrong, and
2) The seller doesn't know about the major problem that let him buy cheap.

I violated the first rule of car buying (let my wife come), leading to violating the second rule (never buy a flipped car) with this stupid mustang . . .
1972 Eldorado convertible,  1997 Eldorado ETC (now awaiting parts swap from '95 donor), 1993 Fleetwood but no 1926 (yet)

James Landi

Some of us, myself included as a prime example, find ourselves emotionally smitten when we see a rich man's throw-away, teeter-tottering at the point of being fair game for the salvage yard. It's impossible to provide logic and any semblance of rational thinking to such purchases.  I find myself digging in regardless of the costs. Likely money better spent on the car than on psychological care.  Happy day, James

gkhashem

#14
Quote from: James Landi on May 21, 2023, 10:58:43 AMSome of us, myself included as a prime example, find ourselves emotionally smitten when we see a rich man's throw-away, teeter-tottering at the point of being fair game for the salvage yard. It's impossible to provide logic and any semblance of rational thinking to such purchases.  I find myself digging in regardless of the costs. Likely money better spent on the car than on psychological care.  Happy day, James

I am more "emotionally smitten" when I see a 30-65 year old original car that is almost mint. Almost meaning a car that you can tell hardly ever saw rain or excessive sun. That never had seen snow or salt. Looks like a 2-3 year old car with light wear. Which show this was someone's else's baby, only if we knew the total story. Some of my cars I do since I bought them from the original owner's family or relative.

The car was not a stow away in a garage but was used with care. These cars can have low mileage or moderate mileage. If you have been doing this long enough and have a good eye you can tell if the car is the real thing.

I gladly "over pay" if it the car I want, never have I lost substantial money over paying and usually make some. I have only sold a few cars and it does bother me since I hope the new owner cares for it like the previous owners. I see these cars as history and since all of us will be gone one day, I feel obligated to pass it along to future collectors.

As far a a beater goes, if someone did not take car of the car in this fashion why should I? I understand people want a classic so they buy what they can afford and so do I. But I agree with Eric their logic is usually flawed buying the cheaper example. Unless they love to tinker and fix them up themselves, I can do some of this myself in "restoring" that original so all the buttons work. Doing some of the neglected maintenance or replacing items due to age. These are the cars I get attached to.

So if you can afford the $10,000 bargain you are better off with the $15-20K mint original,  but today the prices are crazy. So that means the $10K deal is not so much a deal in today's money.
1959 Oldsmobile 98 Holiday Sports Sedan
1960 Cadillac Coupe Deville (CLC Sr #72)
1964 Oldsmobile 98 Town Sedan (OCA 1st)
1970 GMC C1500
1977 Oldsmobile 98 Regency Coupe
1978 Cadillac Coupe Deville (CLC Sr Crown #959)*
1992 Oldsmobile 98 (OCA 1st)
1996 Oldsmobile 98
*CLC Past President's Preservation

Past Cadillacs
1959 Coupe Deville
1966 Coupe Deville (Sr #861)*
1991 Eldorado Biarritz (Sr #838)

billyoung

I am in total agreement that the best Classic car purchase is the best you can afford in most cases in the long run. Back in the day a virtually complete car with little to no rust needing paint chrome and some interior work was a viable candidate for restoring and not ending up losing ones shirt on if then sold, today with government EPA intervention the cost of paint and chrome are ridiculous and parts vendors think every part is worth a fortune so refurbishment in almost all cases if one is counting the cost is hopeless. The reason I purchased Raggedy Ann is quite simple due to being 68 and facing ever spiraling out of control inflation and wanting one more 1968 DeVille Convertible I had no choice but to buy what I could and do the work myself as I know what is right because I remember every detail from when they were new. As my friend Steve Lamagna says " A little powder and a little paint makes it look like what it ain't " My dashboard is done and I am gaining on the body. I will live till the day I die and not a day longer, a hopeless Cadillac Lover.
Age 68, Living in Gods waiting room ( Florida ) Owned over 40 Old Cadillac's from 1955's to 1990 Brougham's. Currently own a 1968 Cadillac DeVille Convertible and a 1992 Cadillac 5.7 Brougham.