Prices for older cars that need a lot of work, are really high in this area as well. I went and look at this 83 cutlass
http://siouxcity.craigslist.org/cto/3564059630.html. Its a v6 car, trans in it is shot(only had reverse), and it has rusted out rear frame syndrome. Guy wants $1,500.00 for it, not a penny less. I basically told the guy to part it out, and haul the rest off, and that's all its worth with a rotted frame. The dude got so made at me, he almost went to fist a cuffs with me, and that i had know idea what I was talking about
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Back in 2000, I had a 87 Nissan 300ZX that ended up getting wrecked. My insurance lady at the time told me she had a 79 monte sitting in her grove on her farm that Her daughter used to drive. It was a 305 car, and had almost no rust on the body. The brake line for the rear brakes had rotted through, so they parked it until they got it fixed. i ended up buying it for $300.00, and took it to a local shop and they fixed the brake line for under $100.00. I ended up driving that car for about three years, until the rear bumper fell off. I didn't know these cars were known for the rear frame rotting off. i could have got it fixed for around $400-$500 back then, with a good junk yard frame. I was a poor high school \ college kid at the time, and ended up selling it.
Man, i wish you could find cars like that now days. Cash for clunkers\high scrap prices, killed cheap cars with a good body that you could throw a 350 in and go. During the cash for clunkers program, I saw in the paper, that someone turned in a Buick GN. Why in the hell would you do that? The guy destroyed a car worth twice what he got for it in the program, and they had to destroy the car. Thank you asshats in Washington D.C.
I'm also seeing G-bodys with no engine or trans with really nice bodies\paint on craigslist. The guys want $4000-$5000 for a roller.
http://siouxcity.craigslist.org/cto/3558584166.html.
http://siouxfalls.craigslist.org/cto/3565193316.html. Its just nuts.
I was lucky enough to find a 85 cutlass with a good frame\body, just has a a broken tail light, vinyl top is shot, and the front clip had some damage from hitting a pheasant. The car came with a front clip, tail lights, and two transmissions. it sat in a shop for five years, and originally came from Texas. Car doesn't have an engine, but i paid $500.00 for it. It also took me 6 plus months to find it, and had to drag it over 100 miles to get it home.