New member - potential new owner

[Nate88]

New member here, first post as well.

I'm sure this gets asked a lot, but I have an opportunity to purchase a DeLorean for a great price. First some history.

My name is Nate, I'm 27, married, with a 2.5 month old daughter. My first encounter with a DeLorean was probably when I was around 10. My best friend's dad had (has) one. I sat in it and thought it was cool. That was about it. Fast forward, that same dad became my boss. In 2011 he finally took it out of 10+ years of storage and got it fixed up. After that was completed in 2012, he drove it down to Orlando (from Ohio). I was able to drive it a bit in 2012, but my big exposure came in 2015. In my town we have an annual car show that closes down Main Street and lines the cars up. He is not a car show person so he offered to let me take it. I got to drive it a week before to get used to it and fell in love. It's not a perfect car by any means, but it's the best one I have driven so far (and that's not much) that handles like that. Between me and my dad we put 800+ miles on the car last year!

This year he has decided to sell. He has had it since 1987 and just hasn't used it much lately. Here is what he has had done to it since taking it out of storage in 2011.

VIN 2805, Automatic, Black interior, Gas flap, and grooved hood. 27,7XX miles.
Work in 2011/2012
- Both front brake calipers replaced
- Both rear brake calipers rebuilt
- Both rear brake hoses replaced
- Front brake pads replaced
- Cleaned rear pads
- Front rotors resurfaced
- Fuel tank cleaned
- Fuel pump, suction screen, fuel baffle replaced
- Fuel pump holder and cover replaced
- Fuel system cleaned
- Fuel mixture adjusted
- Idle speed control system adjusted
- Fuel pump relay replaced
- All coolant hoses, including heater hoses replaced
- Water pump and thermostat replaced
- Radiator fan control switch replaced
- Both belts replaced
- Radiator tested
- Oil light switch re-sealed on left side
- Cleaned no lubricated the angle drive for speedometer
- All support struts (doors, trunk, and rear louvre) replaced
- Door torsion bars adjusted
- Oil and filter changed
- Taillight circuit boards repaired
- interior roof headliners replaced
- A/C inspected and converted to R134-A
- Blower motor replaced
- Windshield washer pump replaced
- Tie rod protective boots replaced
- New tires
- New radio
- Upper sections of front and rear bumpers re-painted
- Automtic transmission computer replaced
- Right door window motor/regulator replaced
Total: $8700+

2013 work:
- Fuel level sender replaced
- Repair electrical connection at rear light assembly
- Repair electrical connection at left front speaker
- Clean A/C condensate drain
- Adjust passenger door
- Left side door window motor/regulator replaced
- Right side exhaust manifold gasket replaced
Total: $1300+

2016 work:
- Mode vacuum switch for HVAC repaired
- Rubber switch diaphragm glued in place for HVAC
- Low side test port valve replaced
- Automatic transmission pan gasket replaced
- Cleaned and righted taillight circuit board connections
- oxygen sensor replaced
- Fuel mixture adjusted
- Oil and filter changed
Total: $550

Still needs some work, some weather stripping needs replaced, would like to get stainless coolant bottle and fuel lines, I think it has an A/C leak, but drives well. I'd also like to replace some of the bulbs with LEDs and get the front lowered.

I'd be lying if I wasn't a "deer in headlights" with some of the terminology that I see around here. I would like to do most of the work myself to save money. My dad is a retired mechanic, but has never worked on DeLoreans. He did restore a 79 VW Beetle convertible from the ground up so that should help.

This is definitely a "once in a lifetime" opportunity at the price he is selling it to me. I know the community around these is huge with everyone being very helpful. I guess I just need advice. I'll post pics hopefully tomorrow when I have time to take some.

Thank you all for your time.

[DMC-81]

Hi there,

Welcome, and congrats on the opportunity to purchase! The car looks like it has had all the major work done to it. That's a plus. If it were me, I would want to carefully inspect the frame as the next step.

As you mentioned, pictures would be helpful.

Cheers,

[powerline84]

I would say with all the connection you have with the car as long as the frame is good you should buy it. I have had an annoying time so far looking for a good car, had a few deals fall through. It takes a while for the right car at the right price to come around. Some people think there non running cars are worth crazy amounts. I would say you have a unique opportunity were you actually know a lot about the car. I would pull the trigger if I was you, you'll be hard prest to find a car you know so much about the background of, and its kinda a cool story. I am being very patient and waiting for the right car to come around myself. Once my truck sells I am probably gonna go to Grady. Should be an owner this year.

Jimmy

[Dangermouse]

Not sure what advice you need.

Sounds like you have been taking the longest test-drive evAr

And I suspect you are happy with the price and hopefully you have had a poke around this site and read the pricing guide in the Resources section and can gauge whether it is accurate or not


But if you want impartial advice (away from the deer headlights) on whether it's really a good deal, then post up pictures and the asking price and we will let you know.

[Nate88]

Thank you everyone who responded. I was able to take some quick pics of under the front of the car.

[Jonathan]

Dermot read my mind...

You didn't actually ask a question. What advice do you need? Do you want to know whether I/we think you should buy it or what you should do next?

From everything you wrote, yes, buy it.

If you want clarification on whether the once in a lifetime purchase price is as good as you think it is, you can share that number with us, but that number is only for you really. The seller won't know a different potential buyer as well as he knows you, a new buyer won't know the car as well as you do, and anyone new won't have as much trust between each other as it sounds like you do. And that number won't be offered to anyone else likely either.

Having said that, buying something like this from someone you work for, i.e. your boss as you said, could get dicey if things come up in the future no one expected. I'd probably not date my boss's daughter, but buy his old car? Maybe. Depends on the situation and where you think the car or your job is headed in the future.

Without pictures, but with all you've written, and your own ability to research car prices and compare to what he offered and you said was good, it sounds like you should buy it. Ask your wife though first. That 2.5 month old daughter will be changing things for you dramatically.

[Nate88]

Dermot read my mind...

You didn't actually ask a question. What advice do you need? Do you want to know whether I/we think you should buy it or what you should do next?

From everything you wrote, yes, buy it.

If you want clarification on whether the once in a lifetime purchase price is as good as you think it is, you can share that number with us, but that number is only for you really. The seller won't know a different potential buyer as well as he knows you, a new buyer won't know the car as well as you do, and anyone new won't have as much trust between each other as it sounds like you do. And that number won't be offered to anyone else likely either.

Having said that, buying something like this from someone you work for, i.e. your boss as you said, could get dicey if things come up in the future no one expected. I'd probably not date my boss's daughter, but buy his old car? Maybe. Depends on the situation and where you think the car or your job is headed in the future.

Without pictures, but with all you've written, and your own ability to research car prices and compare to what he offered and you said was good, it sounds like you should buy it. Ask your wife though first. That 2.5 month old daughter will be changing things for you dramatically.

Thank you for your reply.

I guess I just need to know if I'm making a good decision. I'm usually a practical person who doesn't take much financial risks. If it weren't for this opportunity and the ability to drive it for awhile I would probably never of considered a DeLorean.

The financial committee has approved the purchase .

[Nicholas R]

Is this Nate P. from the Celebration Car Show in Celebration FL? If so welcome! It certainly sounds like you've found a good car. This sounds like an opportunity that you wouldn't want to miss. If the price is as good as you say, it seems like it'd be hard for you to loose. Even if you have to let it go later, you'll still likely come out ahead given how the market is. Best of luck!! And if you need help or have questions, definitely let us know!

[Nate88]

Is this Nate P. from the Celebration Car Show in Celebration FL? If so welcome! It certainly sounds like you've found a good car. This sounds like an opportunity that you wouldn't want to miss. If the price is as good as you say, it seems like it'd be hard for you to loose. Even if you have to let it go later, you'll still likely come out ahead given how the market is. Best of luck!! And if you need help or have questions, definitely let us know!

Haha, no not the same Nate. Thank you for the reply though!

[Dangermouse]

Thank you everyone who responded. I was able to take some quick pics of under the front of the car.

Don't see anything terribly worrisome in those frame pictures, apart from some TLC and touchups.

Without seeing any pictures of interiors, etc, I would say that if he wants:

$40k+, decline;
<$15k - jump on it
somewhere in between - more info is needed