opinions on ultra low mileage formula, original owner (Page 1/6)
cam-a-lot NOV 09, 07:02 AM
Hello

There is a silver, all original 5 speed formula near me that I am contemplating buying. The owner is an 85 year old gentleman who has owned it since new. He is a car guy, has raced shelby mustangs and even cobras in the 60"s, has some amazing stories and pictures of that era... It is not advertised anymore- he may try again in the summer.

This was his occasional toy, flawless condition, all original down to mint GT+4 tires, original brake pads, belts, even spark plugs. No winters at all (confirmed by checking the triunk and underneath. Some very minor surface rust in a few spots that I can easily remove- caused by regular moisture in the air, not salt. Interior is grey, looks like brand new. Car has been stored indoors since new, absolutely no flaws in the paint, no warpage of the interior at all.

Car is a 5 speed with AC and sunroof, but manual windows unfortunately

I don't really need or want another Fiero- I can only drive one at a time, and don't really have additional indoor storage space. But with that said, it i hard to walk away from such a "barn find" .....retired original owner, well maintained and accident free car, has only 19,000 km on it, and the mileage is real.

I don't really care for the color, and prefer the GT over the notchie personally.

Could probably pick up the car for 7 or 8K CAD and it needs absolutely nothing to drive- though it should get brake fluid and clutch fluid changed... Fires up and purrs like a kitten

I may just buy it and change all the fluids and sell it within the community to make sure it goes to the right owner and gets preserved. What I don't want to see happen is someone buys it for a daily driver and kills the car, or some young guy buys it and beats on it or drives it in salt and destroys it. At this price, I can likely turn a profit too if I sell it to the right buyer, (not my main motivation, but a nice bonus). I hate trying to post pictures here, but if you have more patience than I do, post an email address in a PM, I will send you pictures, and you can post for me.

What would you do? Should I Buy it?

[This message has been edited by cam-a-lot (edited 11-09-2019).]

wftb NOV 09, 08:13 AM
If you could grab it for 4k and sell it for 7 it would be a good deal. But if you pay 8 you need to get 11k for it and that is up in the stratosphere of Fiero prices. As far as being choosy on who you sell it too, you will find that you end up holding your nose and selling it to whoever has the cash. Hard to find a retired guy that can afford an old summer toy as well as have a place to store it. Younger people will almost always have to use it as a real car, although it is worth too much money so that might eliminate most of them.

------------------
86 GT built 2.2 ecotec turbo
rear SLA suspension
QA1 coilovers on tube arms

olejoedad NOV 09, 09:44 AM
There were not many silver Formulas, partial year color, got dropped when they added yellow.
Snag it and keep it, sell something to make room for it.
exc911ence NOV 09, 11:32 AM
A low-mile one owner car like that would fetch good money if you listed it on Bring A Trailer. A 23K mile 88 GT t-top 5-speed in white (on grey cloth) just sold for $9300 USD so there's money to be made on a Formula 5-speed.

Heck, I might even trade you my minty red 88 GT 5-speed for it! Feel like driving it out to Victoria?

cvxjet NOV 09, 11:46 AM
Just so everyone has a grasp of the money situation; $8000 CAD = $5900 USD.....

That is a heck of a find as far as condition and being an 88 Formula- basically the holy grail of all Fieros- If it was signed by Hulki it would be worth more.......
olejoedad NOV 09, 12:04 PM
Only 261 silver Formulas.....
formulaWA NOV 09, 01:47 PM
Or u could buy my Formula with 1900 original miles. Been trying to sell it for years
Patrick NOV 09, 02:33 PM

quote
Originally posted by cam-a-lot:

...flawless condition, all original down to mint GT+4 tires

...it needs absolutely nothing to drive- though it should get brake fluid and clutch fluid changed



You do not want to be driving on 31 year old tires. A few years ago, This was my experience driving on original tires with an '88.

If you wish to send a few images of this Formula to the email address in my Profile, I'll post them.

[This message has been edited by Patrick (edited 11-09-2019).]

fieroguru NOV 09, 04:35 PM
A low mileage 88 Formula in silver is probably one of the most rare versions. Add to the fact that it was an export version, makes it even rarer.

It is definitely worth buying and holding onto until the right buyer comes along.
cam-a-lot NOV 09, 05:06 PM
I am leaning toward buying it, especially since the older gentleman even would let me store it there in the winter so I have time to figure out what to do with it. It is literally like a brand new car.. time capsule. I don't think it has a scratch or a stone chip on it.