Is the $25K Rule Still Valid?

[pezzonovante88]

Its difficult to tell what the true market value is for DeLoreans. I mean, they're all over the map. There are nice cars for $20K and then a comparable one for 36K. A low mileage, all original for 50K, or a mechanically updated, cosmetically nice driver for 22K. What's the deal?
I'm in the market for one (or will be as soon as I sell my current 2nd car) and I'm looking for an all-round nice D that runs properly and is good/very-good cosmetic shape that I can upgrade (exhaust, suspension, etc.), but the asking prices are so inconsistent.
What are your thoughts on the current value of DeLoreans and what one should pay for a relatively nice one these days?

[Chris Burns]

With the current state of the economy there have been some great Deloreans selling for less than 25k. The main thing is making sure the car has been kept up properly and what it would take to make it useable.

[Cory W]

The rule of 25? It can still apply. It depends on how much work the car needs, and how much you're willing to do yourself. If you plan on farming the work out, it had better not need much.

Since we're in Canada, we have some extra things to consider before turning a wheel:
-If buying a US car, you need to cross the border, so add travel/accommodations or shipping costs. The car can't cross until 72 hours after the border crossing you'd use receives the necessary paperwork by FAX.
-Tax must be paid at the border: 5% on the purchase price, plus $100 since it was built with A/C. (there's also 8% provincial tax at licensing, but you'd have to pay that either way)

This should not deter you. I took copies of Vehicle Import Form 1 with me, and practiced filling it out to avoid a mess at the border and save paying a broker...and then the agent filled it out for me!

As always, find the best example you can for the money and buy it. You may need to inspect a few of them. You may find the lower priced one could be in better condition than the higher priced one for your specific needs (who cares what condition the shocks or springs are in if you're going to change them anyhow?)

Something else to think about:

Dave and Julee at DMC Midwest gave my car a "thumbs up" when I passed through on my way home with my car because three criteria were met:
-Solid frame
-Steady idle
-No big drips/leaks

Everything else is easy enough to fix with the right amount of time and/or money. How much work would you plan on doing yourself? I'm not sure about your mechanical ability or ambition.

[sdg3205]

What is your price range? There's a couple cars for sale around Canada right now that fall all over the map, but all of them seem very reasonable. Shipping via rail in Canada is reasonable too so I think you'd be ahead no matter what route you took.

[Mike C.]

http://dmctalk.org/showthread.php?371-Please-read-before-posting-%E2%80%9CI-want-a-cheap-DeLorean%E2%80%9D-or-%E2%80%9CProject-Car-Wanted%E2%80%9D-threads

That's still pretty much right on target, if not slightly cheaper these days.

[pezzonovante88]

Dave and Julee at DMC Midwest gave my car a "thumbs up" when I passed through on my way home with my car because three criteria were met:
-Solid frame
-Steady idle
-No big drips/leaks

I'm certainly not a mechanic, but I can tinker with certain things. Anyway, I thought I'd just start this discussion and see what others thought.
That's funny - No "big" drips.

[Cory W]

It had signs of a drive axle leaking slightly. Could happen to anyone :)

The majority of the Ontario DeLorean people are friendly, enthusiastic people who are willing to lend a hand to a fellow owner. If you haven't done it, it's possible someone else has. I have been known to head South on occasional to help out with an issue, depending on my availability.

[tjd]

DeLorean's aren't cheap nor are they getting cheaper. As of late there seems to be endless pressures of (for lack of a better word for it) a soft economy and an abundance of lower tier (condition wise) DeLoreans for sale for low prices putting $$$$ pressure on owners of nicer DeLoreans that feel they must sell now. Who knows you may get lucky and find a fantastic car for a song from a desperate seller. In my experiance there are a lot more dogs (or dogs in disguise) in the sub 25K price range then gems that miraculously defy the 25K rule.

Best of luck with your search.

[DMC3165]

IMHO With the current economy the way it is you could probably find a good private party sale for under 20K right now. Most owners (including myself) would like to see that number double especially if the economy picks up. But I think that unlikely for the short term. Even as far back as the early 90's private party D's were selling for 15-20K although when you take inflation into account that makes a big difference.

On the other hand you'll definitely pay a lot more if you buy from any of the DMC franchises or a vendor. But their cars are usually premium cars and most come with a warranty and that's worth its weight in gold especially if you don't feel like tearing the car apart.

One thing I like about the current DMC is they have really been trying hard to push values up. Which makes people like me very happy. But the economy is always the dictator when it comes to value.

[tjd]

One thing I like about the current DMC is they have really been trying hard to push values up.

I don't see it that way, if anything they cap the market by the published price set on "New-Build" cars.

Not to derail the topic or anything.

[Michael]

I don't see it that way, if anything they cap the market by the published price set on "New-Build" cars.

Not to derail the topic or anything.

60k is not a bad cap, and remember it rises every two-three years.