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).]
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
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?
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.......
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.
I second the "do not drive on 30 year old tires" statement...I actually had some 7 year old tires on my van and they stuck like teflon.........
And Patrick- Somehow I missed the "Most embarrassing thing you did in a Fiero" thread, but I think I have the winner- Thank gosh it is not myine....
Foreign magazine test of a Fiero, and the guy complained about the parking brake handle forming an "obstacle to getting in and out of the car" ( I understand that it may be a bit difficult to figure out, but we are talking about a automotive journalist who tests multiple cars every month- he should have been curious about how it worked.....(My handle actually would drop once set when it was new)
[This message has been edited by cvxjet (edited 11-09-2019).]
Why don't you just post the kijiji ad in The Mall, or perhaps tell some friends about it?
If you don't want the Fiero, inserting yourself in the chain of ownership seems like a needless complication.
If the current seller can't find a suitable buyer, how are you going to do a better job of finding a good buyer?
The seller pulled the ad and is thinking of waiting until next summer to sell it. However, I am pretty sure I could buy it I decide to. I was looking for opinions on whether or not it would make sense to get this car. Will have to sleep on it a bit. Thanks to everyone who chimed in.
All '88 GT's & Formulas had blank center caps. Only the '86-'87 GT came with the logo, so of your '88 center cap has the Fiero logo it was added after the fact.
I used to have a silver Formula just like this one about 15 years ago.....only had 282 miles on it. It is the only Fiero I truly regret selling. You should buy it!
I owned a silver Formula once, found it on a used car lot and got it for a song. It was the only Silver formula I have ever SEEN until now. They are very uncommon. Considering the originality and rareness, it really needs to be owned by someone who will continue to preserve it. If you have the space to park it out of the weather and would like something special to bring to local events occassionally, grab it.
Otherwise, give the guy's contact info to someone who can look after it
The owner has decided to hang on to it for the winter and think about it again around April or May
I will stay in touch with him. He promised to contact me before trying to sell it again
If I decide not to buy it , I will put together an ad for PFF in the mall and assist with the sale for any remote buyers. (Pictures, videos etc). The owner is not computer savvy so I will help him. If he decides to post it again
If I help a remote buyer with this , all I ask for is to make a $100 donation to cliff
If I do buy it, it will be a trailer queen and kept all original and rarely driven except on sunny Sunday afternoons
I already have a very nice 88 GT that is swapped that I get to drive and enjoy and not worry about mileage or originality, so it is a different experience than preserving and maintaining a time capsule like this
My bigger issue is storage, as there is no way I would keep this car outside. For now he took it off the market since there is salt on the roads
Will keep you guys posted with any new development on it
All '88 GT's & Formulas had blank center caps. Only the '86-'87 GT came with the logo, so of your '88 center cap has the Fiero logo it was added after the fact.
Interesting, appreciate the info! I quite like the logo on the centre caps so I'm going to leave them.
Peter- I must have seen car just after you- bought it Nov 16- Picked up April 16. Saw your post recently. To WTFB I'm the retired guy that could afford a old summer toy with a place to store. Drove home 200 km on 33 year old tires- plan to replace. I bought my first new fiero in 1986 and have had 10 since-most I had at once was 6. When I bought this one I sold a US formula auto with 50000 miles. This one was so good I had to have. It has a good home and will be kept original and only driven occasionally in nice weather.
Great to see that it went to a good home. Sent you a PM. You probably noticed, but the brake and clutch fluid seem original so they are more than overdue for a flush... Good luck with the car, and I hope you make it out to some of the Ontario cruises this summer!
Peter- I must have seen car just after you- bought it Nov 16- Picked up April 16. Saw your post recently. To WTFB I'm the retired guy that could afford a old summer toy with a place to store. Drove home 200 km on 33 year old tires- plan to replace. I bought my first new fiero in 1986 and have had 10 since-most I had at once was 6. When I bought this one I sold a US formula auto with 50000 miles. This one was so good I had to have. It has a good home and will be kept original and only driven occasionally in nice weather.
Just curious what you paid for it? I've noticed a couple of different 88 GT's sell recently for $15K and another for over $20K, both super low mileage.
No, really. US dollars. One on EBay sold for around $20,500. It was a metallic red 88, all options, 5 speed, with less than 1,000 miles on it. This was just in the last month.
A car is worth what you can get for it. In this case he paid about 8100.00 CDN for this Formula. A good deal for a low mileage all original car. If you convert 1988 dollars to todays dollars, someone that has sold an original 88 GT for 20,000.00 didn't even get what he paid for it new.
------------------ 86 GT built 2.2 ecotec turbo rear SLA suspension QA1 coilovers on tube arms
No, really. US dollars. One on EBay sold for around $20,500. It was a metallic red 88, all options, 5 speed, with less than 1,000 miles on it. This was just in the last month.
Holy cats, that's wildness! Everybody has their desires, and or got a settlement or inheritance.
A car is worth what you can get for it. In this case he paid about 8100.00 CDN for this Formula. A good deal for a low mileage all original car. If you convert 1988 dollars to todays dollars, someone that has sold an original 88 GT for 20,000.00 didn't even get what he paid for it new.
I totally agree.... I am always baffled when I see people store Fieros as some kind of investment... makes no sense. If you had invested $16-$20k even in some very low risk investments back in 1988 , it would have easily tripled by now.... instead of celebrating getting the same money (after inflation) 32 years later, plus all the hassles of storage and maintenance. These are fun cars, kind of cool, but not an investment...
And possibly the guy who invested in other things that paid a higher return took a payout to buy the car, heh-heh.
Sometimes people do it for the fun or love of having it. I collect things that cost me money every month, but that's because I go too far and don't treat a hobby like an investment.
[This message has been edited by sourmash (edited 04-23-2020).]
No, really. US dollars. One on EBay sold for around $20,500. It was a metallic red 88, all options, 5 speed, with less than 1,000 miles on it. This was just in the last month.
Another one, from the Atlanta area, had 45K miles, 5 speed. It sold to the first guy who called (I was the 2nd) for $14,500 US dollars. I continually monitor the Fiero market, and the prices for the 88 GT's and Formula's, with 5 speeds, are definitely on the rise.
A few years ago, 
