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purchase of a 1964 Oldsmobile 98 convertible


jimmy64

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I am thinking of purchasing one with ps pb air pw windows pwr antena  pwr seat. Condition is good. From a dealer. Original unrestored. What kind of price range could it be? They are asking $30,000

 

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I would appreciate pricing help. I down't want to pay $30,000 for a car that should be $15,000. I am looking for a car for retirement to drive and work on. I can only afford a one shot chance.

 

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Looks like a cared for, relatively original car. If you don't want to overpay steer clear of dealers. You want to have bought it from where they got it, but too late for that. 

If it's the car you have been waiting for all your life (color, options, particular model and year) you may consider just biting the bullet. 

Probably not a lot of supply in 1964 98 convertibles. Probably not a ton of potential buyers, either. 

Bottom line, they charge whatever they want, you pay what it's worth to you. 

Here's a guide I use... key word is "Guide".

 

Good luck, and if it's painful  move on. 

20240212_102340.jpg

Edited by gungeey (see edit history)
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29 minutes ago, jimmy64 said:

I can only afford a one shot chance.

Don't do it alone or remotely with others.

 

Decide on the general car you want and join the local AACA and local marque club. Use all the resources of the clubs to buy the best car you can find. They know the good ones and the bad ones.

 

Spring is coming. A lot of slippery sellers have been sitting on pigs in storage. They don't want to drive them another year and know the excitement of spring will help move them.

 

Without the help of those in the loop you may find yourself showing up at events and hearing "Oh, you bought "that" car.

 

If you are retiring and under the constraints of a "Well Keeper" you will only get a limited number of trips to "the well". They seem innocent enough, but each $1,000 to $2,000 visit gets compounded and emphasized with "You said" or "I thought". Not necessarily in this sequence but the the electrical charging/starting system, the cooling system, the brakes. When you start enjoying it alone you may feel the tension. Too many trips to the well.

The lucky ones end up in the garage as a flat surface for storing holiday decorations on. Not so lucky are the ones that end up next to the garage under a tarp where the raccoon takes up residence.

Of course there are a few whom save face by offering "to sell it in the spring. I think I can get most of my money back."

 

Just kidding, not a word of truth. Except join the local club and you will end up with the best car you can buy.

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They are primarily consignment dealers. They know late model sports cars pretty well, this era moderate, older stuff not well. Verify originality and if you can, talk to the owner of the car. You can’t buy from him directly because he has contracted with GR Gallery

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I'll just suggest that if you are asking people for free advice and appraisals, you might want to make it as easy as possible for people to help you  - like posting the direct link to the car in question. Here, you're welcome.

 

https://www.grautogallery.com/vehicles/bw3411/1964-oldsmobile-ninety-eight

 

The car doesn't look bad, but it's always difficult to tell from a handful of photos. Obvious leakage under the car, but that's to be expected after 60 years. Be aware that these cars are not supported at all by the aftermarket, so anything that needs to be replaced (not that I see anything obvious) will have to be good used or NOS if you can find it. Even normal wear items like brakes, suspension, and steering items can be difficult to find and expensive when you do. I do see new brake hoses, so that's probably been gone through. FYI, those wheels are from a 1971-72 Delta 88, obviously not original to the car.

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This is the white one at their Detroit location?

 

Are you able to inspect this Ninety Eight in person and drive it? Or have a trusted friend familiar with early 60s Oldsmobiles inspect it?

 

Car appears well-maintained but you need to drive it to see how its transmission functions. What is perfectly normal to those of us who own early 60s Oldsmobiles can send someone unfamiliar with them running to the transmission shop.

 

The only glaring things I see are a poorly done engine bay and a broken airconditioning vacuum diaphram on the underhood ductwork. The gold painted parts should be silver. The diaphram is also used on GTOs and unless things have changed are available reproduction. It shouldn't affect AC operation but it switches the system between outside air and recirculated air.

 

The wheels are 1970s Oldsmobile Polycasts. I have a good idea why they're on it, and they closely resemble the 1964 bolt-on diecast wheelcovers so I don't see them as an issue.

 

Pluses:

 

It still has its original top boot.

 

Rear bumper looks great. They tend to rust out at the mounting brackets.

 

It's optioned nicely though the power vent windows and cruise control can be wonky. You need the owner's manual on that Cruise Control because, provided it works, it does not work like modern Cruise Control.

 

Minuses:

 

Faded carpet and trunk lining.

 

Black interior on a convertible. You can't wear shorts if you drop the top in July! Seating surfaces should be leather on a Ninety Eight ragtop, can't tell from the pics if they've been redone.

 

Some of the jack stowage pieces are either hidden or missing. If they ain't stowed right, they WILL rattle.

 

Trunk weatherstripping which isn't a dealbreaker unless the car gets caught in rain.

 

As Bryan has pointed out it's being sold under consignment. That means the dealer may be getting 20% commission or more. It appears to be an honest car and if it runs out as good as it looks $30k is not out of line. Me being one who sees buying cars as a sport, I would invite the dealer to dance with an opening offer of $25000 and take it from there, up to a final offer of about $28000.

 

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  A few last of the run for big ticket items. Last year for Gen 1 Oldsmobile engine, the 394, Last year for Roto HydraMatic, Last year for the indestructible 9.3 rear end.

  Outside body wise and as far as you can tell by pictures, this is a beautiful car no mistake.

  For $25,000? $30,000?  You better visit this car with someone who knows them. 

 

Listen carefully what rocketraider and Joe Padavano have to say.

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Try to get to the owner and ask these questions:

 

Buyer’s Questions

 

1. Do you own the car and have legal proof?

2 Is the paperwork clear and free of liens, unbranded?

3. How long have you owned the car?

4. Is the car currently licensed and insured?

5. Can it be driven on the road, legally, today?

6 Is the car in storage? If so, how long has it been stored?

7. How many miles did you drive it during the last 12 months?

8. Have you done any major work on the car since you have owned it?

9. What and when was the most recent service or repair?

10. If you decided to keep the car what improvement would you consider important?

11. Would you feel comfortable handing your wife the keys and sending her out to pick up a gallon of milk?

Each one will give you insight into the car's history and care.

 

It appears to have belonged to a fairly larger old man who couldn't bend over and do much under the car, service as needed. The questions will answer that.

 

Maybe writing down 10 questions about what you want, what you expect, and what you can do are appropriate.

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2 hours ago, jimmy64 said:

auto

  Appears to be a nice car.  I have a friend with the two door hardtop version of that, in Maroon.   A big strong boat.  He paid     

  $5000.   But it should have a paint job.   He has a fleet of big boat cars and loves them all.

Edited by Paul Dobbin (see edit history)
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Thanks (60FlatTop) Unfortunately the owner passed. His daughter is the one selling the car. The car has recently been serviced to become more drivable.  Brakes gone through new carburetor fuel pump power antenna ignition power seat motors and reconditioned cylinders for the top. According to the dealer. 

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FWIW I bought my ‘63 Buick Riviera through GR Auto in 2015 and had it shipped to Australia by a third party.

 

Same style of advertisement with lots and lots of worthwhile photos which helps show up any issues or potential problems. What they advertised on their site was what I received in Australia, nothing more, nothing less.

 

The only thing I would do differently is NOT get them to provide an inspection or roadworthy. I would get that done by an outside party. Or inspect it yourself, along with another unbiased observer who can look with their head and not their heart.


Looks a lovely Oldsmobile! Hope it works out for you.

Rodney 😀😀😀😀😀😀😀

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If the body and engine both check out to be in excellent shape, don't forget to check that all the power accessories work, including the top.  Being Oldsmobile's most expensive offering that year, it appears to have every option available in 1964, except for Autronic Eye from what I can see in the photos.  Some of them can be expensive to fix, and/or difficult to find replacements for.

 

Craig

Edited by 8E45E (see edit history)
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19 hours ago, jimmy64 said:

the owner passed. His daughter is the one selling the car.

Be aware in some states you need a specific notarized letter from the executor of the estate to get the title transferred.  Not a deal breaker, but another level of complication purchasing the car.  Been there, done that.  

 

Robert

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6 hours ago, Dr B said:

Be aware in some states you need a specific notarized letter from the executor of the estate to get the title transferred.  Not a deal breaker, but another level of complication purchasing the car.  Been there, done that.  

 

Robert

Yep.

I bought a car in the not so distant past from a widow.

I had to reapproach her for a death certificate and notarized proof of inheritance.

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One, you should always go see the car in person. It's the only way to be sure it's what you want. If you don't and you're disappointed, you have only yourself to blame, not the dealer.

 

And two, you are the only one who can determine whether it is good value for the money. Price guides, enthusiast advice, "experts," whatever, none of that really matters. If you like the car and feel that it is money well spent, then it is. Period. I can't tell you how many people have walked away from a car they wanted because their buddy told them it was too expensive, only to come back later to try to buy it after it was sold because someone else saw the value in it. If you want the car, this might be your only chance to own it. Go see it and then you can decide if you think it's worth spending your own money to own it.

 

In truth, you shouldn't worry about the money. This is a hobby, not a business. If you can afford it, then think of it as buying a vacation. Enjoy yourself, make some memories with your family, but (and this is the important part) when you're done, you'll still get a nice refund. Not many other hobbies can do that. Worrying about the "right" price ends up scaring too many guys into inaction and they sit on the sidelines waiting for the ideal combination of perfection and cheapness that never seems to materialize. Remember that time is the only thing you can't buy more of--why waste it worrying?

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Matt is right; the time to buy the car that you've always wanted is when you see it.  You determine whether the price is right based on your desire to own it.  Do, however, plan to set aside an additional 15~20% for sorting out the issues and items that WILL require attention.  It's not a new car and even the nicest originals or recent restorations require some 'tweaking' to make them reliable drivers (especially if they have been off the road for an extended period).

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1 hour ago, Matt Harwood said:

If you don't and you're disappointed, you have only yourself to blame, not the dealer.

I am beginning to change my attitude toward that since the cars I tend to like and buy are coming with OBD2.

 

This morning I walked away from the coffee shop and saw a Sher riff's car in the parking lot. My first thought was with OBD3 he could scan my evap code and give me a citation on the spot.

 

That's a future concern. I agree with Matt today.

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7 minutes ago, 60FlatTop said:

I am beginning to change my attitude toward that since the cars I tend to like and buy are coming with OBD2.

 

This morning I walked away from the coffee shop and saw a Sher riff's car in the parking lot. My first thought was with OBD3 he could scan my evap code and give me a citation on the spot.

 

That's a future concern. I agree with Matt today.

Thus the reason to drive cars without computers, preferably with points.

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3 hours ago, joe_padavano said:

Thus the reason to drive cars without computers, preferably with points.

Leave your iPhone at home as well.  Your speed and illegal U-turns can also be tracked with it riding around with you in your vehicle.  

 

Craig

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On 2/14/2024 at 9:11 AM, Matt Harwood said:

This is a hobby, not a business. If you can afford it, then think of it as buying a vacation. Enjoy yourself, make some memories with your family,

ABSOLUTELY!!! THE WAY WE SHOULD ALL THINK ABOUT OUR COLLECTOR CARS! 

Edited by Dr B (see edit history)
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6 minutes ago, 8E45E said:

Leave your iPhone at home as well.  Your speed and illegal U-turns can also be tracked with it riding around with you in your vehicle.  

 

Craig

I would not suggest leaving your phone at home. That and a credit card are the only thing I bring in case if emergency! I also have a level of paranoia and don't like the idea we are being tracked by big tech through our devices, so I turn the 'location' function off on my phone and only turn it on when I need it for mapping a route.

 

Robert

 

"Just because I'm paranoid doesn't mean they're not after me!" 

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5 hours ago, Matt Harwood said:

Worrying about the "right" price ends up scaring too many guys into inaction and they sit on the sidelines waiting for the ideal combination of perfection and cheapness that never seems to materialize.

As a friend of mine once commented to me "you didn't pay too much, you just bought it too early".

 

Robert

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2 minutes ago, Dr B said:

I would not suggest leaving your phone at home. That and a credit card are the only thing I bring in case if emergency! I also have a level of paranoia and don't like the idea we are being tracked by big tech through our devices, so I turn the 'location' function off on my phone and only turn it on when I need it for mapping a route.

I still don't believe its truly turned "off" fully as the Emergency function remains active.

 

Craig 

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58 minutes ago, 8E45E said:

Leave your iPhone at home as well.  Your speed and illegal U-turns can also be tracked with it riding around with you in your vehicle.  

 

Craig

I don't belong to any cults, so I won't own anything from Apple (or Tesla for that matter), but yeah, point taken.

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1 hour ago, Dr B said:

I would not suggest leaving your phone at home. That and a credit card are the only thing I bring in case if emergency! I also have a level of paranoia and don't like the idea we are being tracked by big tech through our devices, so I turn the 'location' function off on my phone and only turn it on when I need it for mapping a route.

 

Robert

 

"Just because I'm paranoid doesn't mean they're not after me!" 

I was talking to some fellows at a British Motorcycle event. Most of the guys in this genre are pretty hardcore in that they actually ride their bikes. One of the fellows said the best thing that ever happened with his bike was the invention of the cell phone! I thought that was pretty funny AND true! 

I only use mine for the basics, text and talk and pictures (and speedometer when Im in my car). Im not a paranoid type of guy but I am sure someone out there is 'listening' to me. Frankly I dont care, Ive got nothing to hide, and if they are listening then that much the better. At least they know how I feel about things.

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20 hours ago, 8E45E said:

still don't believe its truly turned "off" fully as the Emergency function remains active.

 

Emergency function can also be turned off. I did that also. Glad to hear there is someone else as paranoid as me 😜

 

Robert

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Wayal... other than a car the size of this Ninety Eight can probably be seen from space by a satellite, at least it has no built-in tracking nonsense!

 

All our old cars were dependable when they were regularly roaming the roads. But now we're wary of leaving the house without a cellphone no matter what we're driving. I'm guilty as charged.

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On 2/12/2024 at 7:14 AM, jimmy64 said:

I can only afford a one shot chance.

 

THIS  ^^ is probably the biggest concern you're facing and may suggest you can't afford this or any (vintage) car causing financial worries.

Countless people have spent their hard earned money buying luxuries like vintage cars without realizing they actually can't afford to own them.

Buying one is only the first & often easiest step in to ownership which will require much more spending than most realize.

Maintenance, (unexpected) repairs which any 60 y.o. car, especially one without good-to-excellent history (with documentation) will likely present more than plenty of, storage, insurance, registration, etc, etc, etc ...

I've always told anyone considering buying any luxury, including a vintage car, to ask themselves whether they can afford to walk away from the money they're planning to spend on it and if the answer is no, it's likely a luxury they can't afford.

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On 2/12/2024 at 10:14 AM, jimmy64 said:

 I am looking for a car for retirement to drive and work on. I can only afford a one shot chance.

 

It is possible to finance the car and maybe the financial impact might not be that bad. There are all kinds of loans for collector car out there, I am sure at high interest rate, but a few hundred a month might be easier on the savings and gets you in the game. I never did it myself. 

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