Thinking of buying a 1974 Corvette

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post Reply
Topic Author
tuffy7222
Posts: 132
Joined: Mon Sep 14, 2009 2:21 pm

Thinking of buying a 1974 Corvette

Post by tuffy7222 »

My son's father-in-law has a 1974 corvette that is garaged and some work has been done.
Have no idea of the work performed.At this point they need money for reasons I don't know.
Question: What do anyone of you know what the car should cost if I wanted to buy?
Its a standard shift.

Thanks
Leeraar
Posts: 4109
Joined: Tue Dec 10, 2013 7:41 pm
Location: Nowhere

Re: Thinking of buying a 1974 Corvette

Post by Leeraar »

One in good original condition with lowish miles would be $20k max.

"Some work has been done" suggests $8k or so.

L.
You can get what you want, or you can just get old. (Billy Joel, "Vienna")
YttriumNitrate
Posts: 1093
Joined: Tue Mar 26, 2013 12:13 pm

Re: Thinking of buying a 1974 Corvette

Post by YttriumNitrate »

The completed Ebay listings for a 1974 Corvette have sale prices between $4,000 and $20,000...so, it depends.
feh
Posts: 2011
Joined: Sat Dec 15, 2012 10:39 am

Re: Thinking of buying a 1974 Corvette

Post by feh »

I suggest you find a vintage Corvette enthusiasts site. There must be lots of them, and the folks there will be able to give you an estimate.
strafe
Posts: 1071
Joined: Sat Mar 03, 2007 11:49 am

Re: Thinking of buying a 1974 Corvette

Post by strafe »

The 70s were the "dark ages" for performance cars and Corvettes in particular. Emissions regulations strangled the performance, which suppresses both the prices and fun.

The most expensive classic car in the world is a cheap one. Restoring an old car will be a money pit. If you're looking to help the in-laws financially, I would look for other ways to do it.
killjoy2012
Posts: 1329
Joined: Wed Sep 26, 2012 5:30 pm

Re: Thinking of buying a 1974 Corvette

Post by killjoy2012 »

Atilla
Posts: 1612
Joined: Tue Feb 09, 2010 6:44 pm

Re: Thinking of buying a 1974 Corvette

Post by Atilla »

The 1970s were the beginning of the dark ages for emissions-strangled engines. But 1974 is still early enough to get around the emissions BS without too much hassle. Emission "fixes" were still pretty rudimentary. Emission camshaft would be the worst thing to get rid of hassle-wise - everything else is a bolt on/rip off affair to fix for proper performance.

The 4-speed is a real plus.
Calm Man
Posts: 2917
Joined: Wed Sep 19, 2012 9:35 am

Re: Thinking of buying a 1974 Corvette

Post by Calm Man »

Why would a person buy a 40 year old car?
TheGreyingDuke
Posts: 2219
Joined: Fri Sep 02, 2011 10:34 am

Re: Thinking of buying a 1974 Corvette

Post by TheGreyingDuke »

I know from shinola about Crovettes but I can tell you that 1974 model year was the nadir of emissions and ugly bumpers. Lots of plumbing under the hood to choke things up, never ran right (at least that was true for my 1974 Valiant :) )
"Every time I see an adult on a bicycle, I no longer despair for the future of the human race." H.G. Wells
User avatar
LadyGeek
Site Admin
Posts: 95686
Joined: Sat Dec 20, 2008 4:34 pm
Location: Philadelphia
Contact:

Re: Thinking of buying a 1974 Corvette

Post by LadyGeek »

This thread is now in the Personal Consumer Issues forum (Corvette).

This reminds me of a story someone told me (first hand witness) in the late 1970's of a guy who was fixing his 'Vette. He had a can of contact cleaner sitting on top of the battery and accidentally knocked the can over so it shorted across the battery terminals - which created a small spark.

In a few minutes, the Corvette was reduced to a flaming pile of plastic residue. There was nothing he could do.

(Spoiler: Corvettes have fiberglass bodies.)
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
freddie
Posts: 920
Joined: Sat Feb 08, 2014 10:06 pm

Re: Thinking of buying a 1974 Corvette

Post by freddie »

Calm Man wrote:Why would a person buy a 40 year old car?
Because they couldn't buy it 40 years ago when they first wanted it.:) This would be the perfect Boglehead car. You buy in 1974 for 8k and 40 years later sell it for 10k. See cars are appreciating assets if you use a buy and hold strategy. And ignore minor things like maintenance costs:)
User avatar
slheinlein
Posts: 13
Joined: Sat Mar 16, 2013 6:59 am

Re: Thinking of buying a 1974 Corvette

Post by slheinlein »

unless you are interested in fixing up old cars, don't do it. I bought a 77 Corvete 20 years ago and it now sits in my garage. Hasn't been started for at least a year, which is not good for it. I view it as a pain right now.
User avatar
Electron
Posts: 2658
Joined: Sat Mar 10, 2007 7:46 pm

Re: Thinking of buying a 1974 Corvette

Post by Electron »

The Hemmings site is also very useful with photos and prices.

Type 1974 Corvette into the search box or click on the second link below.

http://www.hemmings.com/

http://www.hemmings.com/classifieds/?ad ... 4+Corvette
Enjoying the Outdoors
LeeMKE
Posts: 2233
Joined: Mon Oct 14, 2013 9:40 pm

Re: Thinking of buying a 1974 Corvette

Post by LeeMKE »

The only way to get a good deal on a vintage auto is to buy a restored, finished, road ready vehicle from the estate of someone who paid for professional restoration and the family is selling. The large car auctions (Barrett Jackson, Mecum) have plenty of cars that are nice drivers, and much less than the cost of restoring one yourself. Unless you are a gear head and love working on cars, a partially restored car will not make you happy IMHO.
The mightiest Oak is just a nut who stayed the course.
BossOfShorty
Posts: 9
Joined: Thu Apr 11, 2013 11:57 am

Re: Thinking of buying a 1974 Corvette

Post by BossOfShorty »

Don't buy a 1974 corvette.
It is not collectable, and is nothing more than a very old used car.
If its been sitting for a while it could be a nightmare once you fill it with current ethanol blended gas.
Also, with corvettes, there is a stigma about the '4'-years (64, 74).
It's less for the 1964 because the other "mid-year" cars (63,65,66,67) have appreciated a lot.
If he needs to sell it, he should take it to a car show or a classic car auction.
If you want a corvette to drive, find a nice early 200x year car.
User avatar
Taylor Larimore
Posts: 32842
Joined: Tue Feb 27, 2007 7:09 pm
Location: Miami FL

Money pit.

Post by Taylor Larimore »

tuffy7222 wrote:My son's father-in-law has a 1974 corvette that is garaged and some work has been done. -- At this point they need money for reasons I don't know.
Tuffy:

The reason they need money may be because your son's father-in-law bought a 1974 corvette. :wink:

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
Leeraar
Posts: 4109
Joined: Tue Dec 10, 2013 7:41 pm
Location: Nowhere

Re: Money pit.

Post by Leeraar »

Taylor Larimore wrote:
tuffy7222 wrote:My son's father-in-law has a 1974 corvette that is garaged and some work has been done. -- At this point they need money for reasons I don't know.
Tuffy:

The reason they need money may be because your son's father-in-law bought a 1974 corvette. :wink:

Best wishes.
Taylor
Taylor,

That is priceless!

L.
You can get what you want, or you can just get old. (Billy Joel, "Vienna")
User avatar
Taylor Larimore
Posts: 32842
Joined: Tue Feb 27, 2007 7:09 pm
Location: Miami FL

Re: Money pit.

Post by Taylor Larimore »

Leeraar wrote:
Taylor Larimore wrote:
tuffy7222 wrote:My son's father-in-law has a 1974 corvette that is garaged and some work has been done. -- At this point they need money for reasons I don't know.
Tuffy:

The reason they need money may be because your son's father-in-law bought a 1974 corvette. :wink:

Best wishes.
Taylor
Taylor,

That is priceless!

L.
L.

Couldn't resist. :twisted:

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
Jack FFR1846
Posts: 18499
Joined: Tue Dec 31, 2013 6:05 am
Location: 26 miles, 385 yards west of Copley Square

Re: Thinking of buying a 1974 Corvette

Post by Jack FFR1846 »

74 had the one year rear split rubber bumper cover. If you want to keep the car original and have to replace it you will be spending a lot. The later year non split bumpers fit. Frames on these rust out like you read about. This was before GM cared about a car lasting more than 50k miles. Also beware of body repairs. If the frame was twisted in a crash, a common repair was to replace the shocks with air shocks and vary the pressures so it would sit straight. It would then handle like crap but they all do until 84. If the body was repaired on a twisted frame, good luck getting anything to fit or being able to close the doors easily. My sister had a 74 with every single issue I just listed. Bought about 79 and sold in 84. 74 was the absolute worst year for Vettes
Bogle: Smart Beta is stupid
Bacchus01
Posts: 3182
Joined: Mon Dec 24, 2012 8:35 pm

Re: Thinking of buying a 1974 Corvette

Post by Bacchus01 »

1974 is not a desirable year right now. 70-73 are, but 74 is not.

If the body/paint is in very good condition, it might be worth $8K. Otherwise, don't touch it. Body/paint on a car like that will run you $15-$20K and will never be worth it.

I collect and restore cars and I win some and lose some.

I'd be interested in it for the right price. As well as that 77 sitting in your garage slheinlein :)

I agree with others. Unless you LIKE working on old cars, your best bet is to buy a restored one. Not cheap up front, but MUCH cheaper in the long run.
Leeraar
Posts: 4109
Joined: Tue Dec 10, 2013 7:41 pm
Location: Nowhere

Re: Money pit.

Post by Leeraar »

Taylor Larimore wrote:
Leeraar wrote:
Taylor Larimore wrote:
tuffy7222 wrote:My son's father-in-law has a 1974 corvette that is garaged and some work has been done. -- At this point they need money for reasons I don't know.
Tuffy:

The reason they need money may be because your son's father-in-law bought a 1974 corvette. :wink:

Best wishes.
Taylor
Taylor,

That is priceless!

L.
L.

Couldn't resist. :twisted:

Best wishes.
Taylor
Taylor,

Was it an O Henry story where he sold his watch to buy combs for her hair, while she sold her hair to buy a chain for his watch?

L.
You can get what you want, or you can just get old. (Billy Joel, "Vienna")
User avatar
Mister Whale
Posts: 495
Joined: Sat Jan 02, 2010 9:39 am

Re: Thinking of buying a 1974 Corvette

Post by Mister Whale »

LeeMKE wrote:The only way to get a good deal on a vintage auto is to buy a restored, finished, road ready vehicle from the estate of someone who paid for professional restoration and the family is selling. The large car auctions (Barrett Jackson, Mecum) have plenty of cars that are nice drivers, and much less than the cost of restoring one yourself. Unless you are a gear head and love working on cars, a partially restored car will not make you happy IMHO.
This, absolutely, especially the bold part. :beer
" ... advice is most useful and at its best, not when it is telling you what to do, but when it is illuminating aspects of the situation you hadn't thought about." --nisiprius
placeholder
Posts: 8421
Joined: Tue Aug 06, 2013 12:43 pm

Re: Money pit.

Post by placeholder »

Leeraar wrote:Was it an O Henry story where he sold his watch to buy combs for her hair, while she sold her hair to buy a chain for his watch?
The Gift of the Magi.
Post Reply