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Thread: New to the Forum and Researching to Buy

  1. #1
    Member
    Join Date:  Jul 2017

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    New to the Forum and Researching to Buy

    Hello, everyone. I have been trolling here off and on for a few years, but this is my first post. I am seriously considering a purchase within the next year or so and figured I'd begin my research now. I have read a few books on the Delorean already and have mostly decided on a latter production car with grey interior, non gas flap hood, silver wheels, antenna in rear, and 5 speed, though an auto might be an easier to sell to the wife. I currently have a restored Candy Apple Red 1970 Ford Mustang Mach 1 with 351c 2v, power brakes, power steering, A/C, and 8 track. It is a really nice car that I purchased in 2015. The Delorean was also on the list at the time, but we never looked at anymoutside classifieds. Two laters, I've noticed asking prices on DeLoreans are getting insane, while the Mustang is pretty flat price wise. I don't want to miss the boat and feel like the Delorean will appreciate in price more than the Mach 1, which I would sell for a Delorean. I would probably spend around 30-35k, which is the price range I'd get for my Mustang. Is that a good range for these still? I figure you'd all know better than I. I'd use the car strictly for weekend cruising and take it to shows once in a while.

  2. #2
    Senior Member DavidProehl's Avatar
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    You should be able to find a very nice car in the 30-35k range. I've seen several perfect examples (everything recently updated, flawless interior and exterior) listed at 40k recently, but I'm not sure they are actually selling for that much. I would assume you could talk them down. Sounds like you have your expectations set appropriately, and with your reading you likely know what you are getting into. Keep us posted on what you end up buying!
    David Proehl

  3. #3
    Delorean Guru
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    One book that is very good is James Espey's book and you can get it from DMCH (DMC in Houston Texas). It goes into detail on how to buy and take care of a Delorean for a newbie. Try to see any that are local to you, find a local owner's club if possible. By making such a particular set of requirements you narrow the available cars significantly. Some of the items you want can be changed if necessary to suit your taste. Try not to spend too much, ie, don't spend $35K on a car worth $25K. If possible try to have a PPI (Pre Purchase Inspection) done by someone who knows what they are looking at.
    David Teitelbaum

  4. #4
    Sometimes Owner louielouie2000's Avatar
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    Quote Originally Posted by Hill Valley PD View Post
    I've noticed asking prices on DeLoreans are getting insane, while the Mustang is pretty flat price wise.
    Yes, asking prices have suddenly become ludicrous for these cars within the past year. But that's just it- they are asking prices, not sale prices. To find out sale prices takes some more digging. Bringatrailer.com has auctioned 2 DeLoreans this year, fetching $19k and $33k respectively. If you do an advanced search on eBay and check "sold" or "completed" listings, they range between $17k and $36k. When you look at the Barrett Jackson sales from 2017, it's a similar story- $26k to $35k. So a pattern is emerging- running project cars are trading hands in the upper teens, driver-quality cars are in the 20s, while very nice examples can command into the mid 30s. So your budget should procure you a very nice example, provided you know what you're looking at. Getting a DeLorean owner to help you inspect potential purchases is the best insurance possible. Good luck and have fun on the hunt!
    Louie Golden

  5. #5
    Stupid Newbie DaraSue's Avatar
    Join Date:  Jul 2016

    Location:  The LC

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    Quote Originally Posted by David T View Post
    One book that is very good is James Espey's book and you can get it from DMCH (DMC in Houston Texas). It goes into detail on how to buy and take care of a Delorean for a newbie. Try to see any that are local to you, find a local owner's club if possible. By making such a particular set of requirements you narrow the available cars significantly. Some of the items you want can be changed if necessary to suit your taste. Try not to spend too much, ie, don't spend $35K on a car worth $25K. If possible try to have a PPI (Pre Purchase Inspection) done by someone who knows what they are looking at.
    Yeah, this. I bought a car sight-unseen that sounded perfect on paper but turned out to have a bad case of engine-block rust and ended up playing whack-a-mole with coolant leaks and overheat issues for several months (and several thousands of dollars) before giving up and having the whole engine torn apart and cleaned out. It didn't start acting up until I'd driven a few hundred miles in two days so the seller might not have known how bad it really was but when I had it checked out at DMC MW after buying it, they did find the block rust and cited it as a potential future problem, and if I'd known that before buying I wouldn't have bought that car. I'm not necessarily sorry I bought it now, because I've had a lot of priceless experiences in it and because of it, but if I had a mortgage payment on a house full of mouths to feed, I might feel differently. Learn from the mistakes of others, because you won't live long enough to make them all yourself...

    (P.S. if it helps your comparison-shopping, I paid $31k for mine, which was almost certainly too much considering the condition the engine turned out to be in, and then probably dumped another $17k into the engine work and various other repairs such as a damaged A/C evaporator and a 50 cent transmission part that needed 2 grand worth of labor to get to. To be fair, I probably could have saved several thousand if I'd left it at MW to get the engine overhauled in the first place. Patience is a virtue, but unfortunately one I'm severely lacking. When it was all said and done, though, I ended up with a car I could drive to New Jersey from Utah and back without a tow truck, so that's something...)
    Last edited by DaraSue; 07-31-2017 at 02:27 PM.

  6. #6
    Member
    Join Date:  Jul 2017

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    I have the Espey book , the Delorean Performance Portfolio, and The Delorean Story by Nick Sutton. I've read all of them, which how I came up with my wish list of preferences, but it is not set in stone. Is there anyone on here in the Chicagoland area?

  7. #7
    Stupid Newbie DaraSue's Avatar
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    DMC Midwest is out in Crystal Lake, I'd drop them a line and tell them what you're looking for. If you find one from a private seller they can do a thorough inspection, too.

  8. #8
    DMC Midwest - 815.459.6439 DMCMW Dave's Avatar
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    Location:  Crystal Lake IL

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    Quote Originally Posted by Hill Valley PD View Post
    I have the Espey book , the Delorean Performance Portfolio, and The Delorean Story by Nick Sutton. I've read all of them, which how I came up with my wish list of preferences, but it is not set in stone. Is there anyone on here in the Chicagoland area?
    I am. .
    https://www.dmcmidwest.com/
    Dave S
    DMC Midwest - retired but helping
    dswingle@DeLorean.com

  9. #9
    Back to the Omnipresent! Spittybug's Avatar
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    Make arrangements to have Dave Swingle (above poster) help you out. He's one of the handful of individuals in this community who has selflessly helped us all at one time or another and a guy that I'd trust to find me a car in a heartbeat.

    I just read yet another article about DMCH building new cars in 2018 for $100,000. I'd happily sell mine (EFI'd and runs great) for half of that.
    Owen
    Tour the country and visit breweries through the eyes of our two puppy dogs. http://www.twobrewdogs.com
    Help us spread the word! @twobrewdogs on Twitter, twobrewdogs on Facebook.

  10. #10
    Member
    Join Date:  Jul 2017

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    Quote Originally Posted by DMCMW Dave View Post
    Thanks Dave. You are about an hour from me. I will plan on trying to get up there before the weather gets away from us and check out the facility and have a look at a few cars up close. Like I said, I am about a year out, since I will probably be selling the Mustang come Spring. However, it is never too early to educate myself. I look forward to becoming a part of the community one day.

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