30k + $500 finder fee

[1970 RT Challenger 1970]

I'd walk (no run) away from the deal as it's a money pit and was way overpriced.

[JoltinJoe]

I realize that this one is last minute, but here is what you should be getting for $30k+ :http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=230530999514&category=6409#ht_1673wt_954

~Joe

[mcemond]

Hi Guys
Like a fool I had sent him the money already before reading averyone's warnings. At the time, everything I had read indicated that the price was fair. I didn't know that I rally didn't know what I was getting into. After reading your continued comments I decided to ask him to keep 5k and return the rest. He wouldn't do that so I've got no choice but to honor the deal and see it through. I took a little break to collect myself and worked out the finances based on how much I'm in the hole already. What I'm going to do is sell it on ebay or here for a FAIR price and from what I'm hearing here that's 15 - 20k, I'll probably ask 22K to start. I'm going to take a complete bath on this but that's ok. I did it to myself. He was a fast talker and I got caught up in it. I wanted to take a while to search this all out but it turns out I'm kind of a sucker. My buddy that restores cars professionally worked out the finances with me and it really does pay off to start off with an already restored car. Even if I loose 10 - 15 k from the sale of this one. So I'm gonig to cut my losses and start the long process of saving up again. Life is full of set backs and I am just thankful that the money lost is not going to impact my mortgage or family, just my personal dreams. I figure in another couple years I can be back up to the 30k mark and I'll start the search again. I learned a very big lesson though and that's gotta be worth something. The truck I'm almost finished restoring I bought for 3k and I'm now up to 22k so it is begnning to scare me when I read that a cuda grill alone can be 2k. I just made a very bad choice and hopefully someone will be interested in this. It will be located in southern NH and if someone's interested in it they can email me at michael.emond - at - gmail dot com. I'll let you guys know how it goes and I'll be hanging around to learn more before my next purchase. Thanks again for all the information you have offered.
Mike

[72hemi]

Sorry to hear he wouldn't let you back out even at $5k, that just shows what kind of a person he is. Good luck with selling the car and continued search for your dream car.

[JoltinJoe]

I wanna say that you still have a few options here.

First, I'd investigate the Lemon Laws in his state.  Don't go by this guy says this and that guy says that.  Literally google his states Lemon Laws and do ALOT of homework fast.

Secondly,  nearly everyone gets taken for a few thousand bucks in this market due to its learning curve.  You could just sell it or store it for a few years (minus the rust) until the market improves.  I think our market will begin to improve around 2013.  Only store it if you have free indoor space.

Lastly, you do have a real '71 'Cuda.  That is the most desirable car out there.  You are in a similar position as 71cudajoe states below:

I won't argue with others who say the deal you made wasn't great, but if you decide to keep the car, there is a bright side.

I've dumped way more money into my 71 Cuda project than I could ever get out of it if I have to sell. However, I figure if I never sell the car, I won't lose any money, right? I look at it this way: my car is EXACTLY what I wanted in the end. I didn't purchase it as an investment. I built it to drive and enjoy. I once was told that if you buy what you really want, you'll soon forget what you paid for it -- and that's becoming true for me, because the closer my car gets to being done, the less I care about how much it has cost me. Enjoy your car, don't let it get the best of you and you'll turn out just fine.

If you decide to keep it, the restoration can take 3 years.  So maybe take baby steps with it until the market improves.  Keep your head UP!

[73Chally]

Before you go and jump 10K+ into the hole by short selling it, I would figure out what it will take to hold on to it, and just extend your restoration plans by an extra year or 2.  Start eating the figurative balogna sandwich for lunch every day, etc, but at least you do own the car, now.  There are countless numbers of people that sell a car they own with every intention of buying another one in several years, but that never comes around.  Trust me, it will be easier to find money to complete your restoration than it will be to save up enough money to buy another one.  As many have said before, you own a highly desirable car.  Keep it and take your time to do it right.

[TorOrange]

I wanna say that you still have a few options here.

First, I'd investigate the Lemon Laws in his state.  Don't go by this guy says this and that guy says that.  Literally google his states Lemon Laws and do ALOT of homework fast.

Secondly,  nearly everyone gets taken for a few thousand bucks in this market due to its learning curve.  You could just sell it or store it for a few years (minus the rust) until the market improves.  I think our market will begin to improve around 2013.  Only store it if you have free indoor space.

Lastly, you do have a real '71 'Cuda.  That is the most desirable car out there.  You are in a similar position as 71cudajoe states below:If you decide to keep it, the restoration can take 3 years.  So maybe take baby steps with it until the market improves.  Keep your head UP!

  

Also while Ive been trying to buy a barracuda for about a year 4/5 were Fast talkers and of course something ends up being bull.

Another thing the Guys and Ladies on this forum know alot I mean alot about anything that has to do with Mopars so making a choice your not certain on, it's best to ask Da Forum 

[528 Hemi Cuda]

Mcemond,
Like a lot of the people have already said you at least have the car of your dreams it may take longer to get it on the road. Can you at least get it drivable? If you can get it drivable you can always work on it a little at a time. It is a 71 Cuda.
We paid a lot for a Cuda and later found out the guy scammed us and had a fake fender tag made up for the car. We paid more for the car then we would have had we known about the fake tag. So, it can happen to anyone. I know you get excited and want your car now. It happens to everyone. Before you take a big loss on this car think it over and maybe you can get it drivable and at least get some enjoyment out of it. What does your car need? Good luck on whatever you decide.
Pink Ice

[n9671x2]

You are no doubt a stand up guy, this seller needs a beat down.  Personally, I would put a little more legwork into getting out of the deal.  I wouldn't rule out any options.  There is no dash pad in the car.  Does he even have the VIN for the car?  He may come a little cleaner on this deal if he is aware of the possibilities of the police stopping at his shop to check out the possibility of VIN tampering...

[acudanut]

Sorry to be Danny Downer, but if you paid that for what your describing, the seller is A LOT happier than you are 

Yea, that's too much for a small block 'Cuda.

[Super Blue 72]

You are no doubt a stand up guy, this seller needs a beat down.  Personally, I would put a little more legwork into getting out of the deal.  I wouldn't rule out any options.  There is no dash pad in the car.  Does he even have the VIN for the car?  He may come a little cleaner on this deal if he is aware of the possibilities of the police stopping at his shop to check out the possibility of VIN tampering...

  Sorry if I missed it, but does the VIN check out ok?  Is it really a '71 Cuda, not a Barracuda?  Don't just go by looking at the gills on the front fenders.  If you can get out of the deal, that would be cool.  If not, who knows, maybe think about keeping it as you already have it.  Like others have said, '71 Cudas are hard to find, and it looks like a solid project car, at least from the pics. 

One thing for sure is that you have a good attitude about life and are a man of integrity which is worth more than the money you spent on this car. 

[inot2old]

Now that you already have it, I would keep it rather than take a bath on it.  Just work on it as you have the extra money.  Hang around here and you can probably find any parts you need, as well as answers to any questions. 

[Katfish]

I agree with checking out all the details, you could probably find something that doesn't match up.

I also agree you'll be better off taking a bath on this 1 (if it comes to that) and starting off with a better car.  It ALWAYS cost 2-3x to fix a car compared to buying it done.

[73Chally]

So what's the going price for a done 71 340 Cuda now adays, or better yet, in 5 years when the market has hopefully rebounded?  I still say keep the car and build it as time/money permits.  At least you have something to show for the money you spent, as opposed to a $10-12K hole in your wallet with nothing to show for it.

Look at it this way.  If you do sell it for a huge loss today, and end up buying a finished one in the future, in essence you will still be way overpaying for it then when you factor in the money you lost selling this one.  Unless you can get something close to even money selling it, it makes no sense to dump it.

[JoltinJoe]

So what's the going price for a done 71 340 Cuda now adays, or better yet, in 5 years when the market has hopefully rebounded?

  $35 now $42500 then...

Honestly bud, the body doesn't look too bad.  From what I can see, left fender and the roof need work.  Do the body work yourself over time and put a cheap paint job on it (painting the floors and trunk floor black or just use that Por13 stuff).  Put seat covers on it and you will get a long way with just this.  If the engine runs and the drivetrain works, then just leave them be.