Would you pay $2k for a car with a "bad" transmission?

https://pittsburgh.craigslist.org/cto/4436720279.html

Went and looked at this car yesterday to buy as a potential flip. It's old guy Miata mint condition. Actually a 1990 that has already had the crank replaced due to SNC failure. 126k miles. New OEM style top, new tires, new radiator, clean engine bay. Spent its life in North Carolina so spotless compared to the PA rust buckets. Transmission won't shift past 2nd gear. The guy selling it says "I haven't even wasted time on it, if I'm going to do that, I'm droppin' in a 5-speed."

I didn't check fluid level in the trans, but I'm pretty sure the only thing wrong with the car is the vacuum modulator/vac line leak. $40 dollar fix, but I'm not sure. Market value is $3k, but if I'm wrong I could put a ton of work/money into the car to break even. I went prepared to pay as much as 1500, as the ad says they are open to offers. On the test drive around the neighborhood, he says $2k is his rock bottom price and won't take a penny less. He thinks because 10 people have contacted him through craigslist, that the car is worth even more than he's advertising.

WWGRMD?

So it's a 1990 not a 1999?

Correctamundo.

Your offer of $1500 is fair. If he gets 2k, he gets 2k. I just don't see that happening.

The Add wrote: you can only drive it in 2nd it first gear

What?

I'd say $1000-$1200 might be fair if it is a 99. Kind of my own assessment.

It's a 1990. I saw it with my own two eyes. It's white that has had a re-paint at one point in its life.

Nope.

At least not to me. If a car doesn't move under it's own power then it's worth scrap value.

Walk away. They want at least $500 too much for it, especially since it's a 1990. It's also a bad sign when people say that their car has a major problem, but don't give them a lowball offer. Major problems kill the value of a car.

Yeah to me it's worth $1200 at most. The guy is delusional at this point.

If its a 90, I'm thinking under 1000. more around $500-$750.

breaks - ha.

Nope

"rust free" and having been resprayed says hiding rust to me. not knowing year and needing a new trans all adds up to i'll match the price of what the scrap guy will give you for the car.

The car came from North Carolina. It's not rusty at all. Really clean inside and out.

wait until the paint job is 4 years old then reassess that statement.

Yeah a 1500 dollar car than runs and drives is different than a 1500 dollar car that does not move.

captdownshift wrote: wait until the paint job is 4 years old then reassess that statement.

The paint job is not brand new. I can tell based on some overspray in certain areas. The rockers are solid, no corrosion in the engine bay which is usually a telling sign of a rusty car. It's not rusty. I have been around a ton of rust free and rusty cars to know the difference.

The transmission seems to be the sticky part. I have "repaired" a number of transmissions with just a filter and fluid change. It's still a gamble.

With the owners attitude, give him your phone number and walk.

so accident damage/repaint, history of catastrophic engine failure and current transmission failure (automatic trans as another negative), aftermarket replacement top... scrap value or view it as a donor for something else.

oldtin wrote: so accident damage/repaint, history of catastrophic engine failure and current transmission failure (automatic trans as another negative), aftermarket replacement top... scrap value or view it as a donor for something else.

Disagree. While possible for accident damage, I didn't seen any evidence in the engine bay (it could still have had damage), I would hardly call the SNC issue "catastrophic", and what is wrong with an aftermarket top? Would you replace with an OEM Mazda?

I think the seller is way off in regards to pricing, but calling the car scrap value is a bit much.

I'm still trying to find where this car doesn't run and is worth scrap. I don't see it when the car runs but doesn't go faster than 30 and at worst needs 800 in trans repair/5 spd swap.

Used Miata NA transmissions are relatively cheap around here - usually $100 or less. Plus your labor.

If the rest of the car checks out and you want it and can change a trans by yourself, it doesn't sound too too bad. I'd still like to see it closer to $1,500 though.

If it has a clean carfax and there are no signs of accident damage I wouldn't worry about the repaint. Early white miatas had defective paint from the factory. It's common for the white paint to flake and peel away from the primer in large chunks. It's a fairly well known problem and a lot of them have been re sprayed because of it.

Way overpriced in my opinion.

This is a much better deal and its being sold by a member here:

http://grassrootsmotorsports.com/forum/open-classifieds/94-red-miata/83798/page1/

In reply to old_:

i seek out white bg chassis mazdas knowing the paint will be flaking and that i can pick them up for sub $400 due to this. I've scored them for as low as $100.