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Decided to start a new thread on this mainly so I can find it easier on the board.
For those of you that haven't heard, my wife's step-dad has a '93 Lightning he bought new, back in early '94. It's the red color, it's pealing/fading, no identifying stickers (dealer removed), has no mods, the rear tube bumper vs. the step kind, 97K miles, some dents and dings, and was used as his work truck (used to have a job box in the bed).
Yes, Jared, he was a plumber , retiring last year. The truck is usually parked in the driveway, on Riddell Rd. in Bremerton (just up from the Tracyton 4 way stop, on your right, behind a Winnie).
He has decided to sell it. He looked into trading it, but the Ford dealer would only give him $2000. The selling price started at $4500, he got one offer that involved $3500 and a driveway repaving, he turned it down. He then talked to the wife's uncle that told him it was worth $7000. The wife's uncle is a gear head... knows his stuff from a mechanic's and collector's point of view. I was hoping to make a deal, that would eventually land it in my possession. It isn't looking good for the home team.
Ernie, you brought up some valid points concerning resale, condition, and other items. From a dealer's point of view, all of them made perfect sense.
Jeff, you took the other side of the "argument" about supply-demand... basically looking at it from a collector's view,and those points made sense.
I've been in a similar situation with a '70 Mustang. I wanted to trade it or sell it. The dealer was only willing to give me $1800 trade, I had put in $7000 to build it up. I ended up selling it for $4000. How much was it worth? Who knows, it's up to me and the buyer. I just knew that I wasn't going to trade it for $1800, just so I could get a brand new 4cyl Mustang.
Here's the problem, now. I opened up my big mouth... I let him know that pristene models of this particular vehicle can go for up to $22K, but recently I've seen them sell for the low teens, on the auction sites. I also let him know that $7000 would be a fair deal, considering the truck hasn't been detailed or garaged, and has been well used. Why would I do a dumb thing like that, when I could have gotten the truck for a lower price? 'Cause I can't afford it now (even at $4500) and I was trying to be fair to the guy. Basically I was being selfish, but also being stupid.
If he sells the truck for $7000, I won't feel so terrible about losing the opportunity... it will be more likely that he'll find someone that can appreciate it's "intrinsical value." If he sells it for anything between the $4500 and $7000, I'll feel disappointed, but know he got what he originally wanted and possibly more. If he sells it for $4500, and I don't get it... well then I'll be pretty mad.
There's quite a few Lightnings. The over $10K units are street rods, not originals. I'm seeing clean, low mileage originals (under 75K miles, need nothing) for $6-$10K. It's something that, if you want one, they're out there. And it's winter- 2WD trucks are almost impossible merchandise in some parts of the country right now, but this'll change in three months.
edit: there are asking prices, right? Never know what'll happen if you wave cash at the right time.
I figured it was a 93 because of the condition of the paint. 93's didn't come with a clearcoat, but 94-95 did. If the truck was built late 93 then chances are it has the roller ready block in it--which is a real good thing when it comes to mod time. The tube bumper was actually a "step-up" option over the step bumper--I still run my tube bumper because it's original and different from the roll pan/step bumper look.
I'm with PB on this one...I think you can find better deals out there if you look. Then again money talks...you might be able to cut a deal if you have cash in hand.
I should've defined "street rods" too. Most are "original" Lightnings- as in, they left the factory that way. But they're also a borderline cult vehicle (like the 2nd gen and the SVT Cobras), so some folks have sunk unbelievable amounts of money into the drivetrains of some of these trucks. That's reflected in some of those asking prices.
A certain stroked 385 Bronco with a blower on it comes to mind. Jerry's already sunk 4X the original buy price into power upgrades, and he's not done yet. New drivelines arrived last week from a speed shop in So Cali. Edit: not that any of this is done for resale, mind you. He's doing it...because he can.
Here is what Kelley Bluebook said! I think this is a reasonable quote and with the paint and body problems you can throwout the rare or collectable side of this Lightning. When it comes to low production vehicles you need to be reasonable in your thinking, or you will sit on it for a long time passing up reasonable deals for that one in a million offer.
Like PolarBear said, now is not the time to sell a 2wd vehicle and expect to get high dollar especially a high performance vehicle! One thing to concider, call your bank and see what they would be willing to loan on it. that can be a good quote also on vehicles.
Just my two cents here.
Washington • December 26, 2005
1993 Ford F150 Lightning Short Bed
Power Door Locks
Single Compact Disc
Sliding Rear Window
Optional Fuel Tank
Consumer Rated Condition: Fair
"Fair" condition means that the vehicle has some mechanical or cosmetic defects and needs servicing but is still in reasonable running condition. This vehicle has a clean title history , the paint, body and/or interior need work performed by a professional. The tires may need to be replaced. There may be some repairable rust damage.
Private Party Value Search Local Listings
List This Car for Sale $4,365
Private Party Value is what a buyer can expect to pay when buying a used car from a private party. The Private Party Value assumes the vehicle is sold "As Is" and carries no warranty (other than the continuing factory warranty). The final sale price may vary depending on the vehicle's actual condition and local market conditions. This value may also be used to derive Fair Market Value for insurance and vehicle donation purposes.
Thanks for your imputs.... that's what I pulled off of KBB, iirc Edmunds, NADA or both were less on their book values.
I think I'll just sit on this idea for a while... see what happens in the mean time. He knows I want it and he's been patient. It's only been about a month since he came out with his proclamation. If he waits for 3 or 4 more months, I hope to have a better grasp (financially) on the situation.
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