Expensive for its condition?

[MadeinWigan]

I've been keeping an eye on the Chimaera market as I hope to buy one next year. I don't have a big budget to buy, I 'do be happy to buy a car for weekend use whilst restoring and upgrading.
This car is fairly local and on the surface looks pretty good value.
http://bit.ly/1f2lL8O
I'm thinking that it would need about £3k of work if you do the outriggers, rad, targa top and sundries but would only be worth around £6.5-£7k after the work (pure guesswork!)

On the other hand there is this car
http://bit.ly/183LecW

It looks to be good value although it could well have had a hard life. It seems to had some good upgrades.

I'd be looking for something that I could occasionally take on track.

I know with any cars it comes down to condition. Which of those two looks to be better value? I'd rather save up a bit more money to get a good solid car than just buy the cheapest I could find.

Thanks for your patience.

[peaktorque]

Personally speaking I always buy the cheapest on the market at the time of looking.

I am famously tight so I always pay as little as possible for the thing I want. It doesn't always pay off in my favour though! I have been lucky with my Chimaera though - £3500 and it was a risk worth it....... But I always work on my own cars and they NEVER visit a specialist in my ownership so I guess I'm willing to take on a higher risk.

So unless you can do the work yourself I wouldn't risk stupid garage bills.

[MadeinWigan]

I'd be happy to tackle the work without taking it to a specialist.

Where did you find one for £3,500 and what condition was it in? How much would you value the £4,295 one at?

Thanks

[peaktorque]

MadeinWigan said:

I'd be happy to tackle the work without taking it to a specialist.

Where did you find one for £3,500 and what condition was it in? How much would you value the £4,295 one at?

Thanks

My car wasn't actually for sale when I bought it, it was on this very site that someone mentioned they were thinking of selling their good but not 'mint' Chimaera and a few emails and a visit to a dark car park, she was mine. Nearly 4 years later she has cost very little to keep on the road.

My car is and always has been mechanically sound, however it has done 114,000 ish miles and is tatty, but it has good history on PH and a big file of previous bills.

I haven't encountered one as cheap and fully road legal since I bought it, but maybe I was just very lucky .

The cheap Chim you've posted a link to is very early and it has the not-so-nice Rover gearbox (as apposed to the later T5) I would personally look at it and if it seems right and 'adds up' Id be straight in there. At least if it's cheap you have less at risk and spend the difference to make it what you want.

[Robert Lees]

Outriggers ~ £1500, roof recovered ~£6-800, at 58k cam may be worn, although some last much longer.

if dash cracked ~ £200, Radiator a bit more.

so as u say £3k spent would go a long way to sorting it.

u never make your money back but a Chim with 60k , new roof and outriggers, i would have thought would be worth at least £7k ?

good luck

[MadeinWigan]

Thanks for the replies,I'll have to go and take a look at it. I like the colour combo. If It could pass an MOT with the outriggers as they are then that would be a bonus and most of the other work can be done as and when.

The choice I have is between an E39 BMW M5 and a Chim. I've got a couple of E34 540 6 speed manuals at the moment which I spend more time tinkering with than driving. I'm thinking that a Chimaera would satisfy the spannering part and would have a much bigger sense of occasion than the BMW's when actually driven.

[Robert Lees]

Very simple mechanically compared to an M5. The "sense of occasion" is one of the greatest parts of ownership. Would an M5 be such a big difference to a 540i? Just interested .

bought my chim 450 last year, wish I had taken the plunge years ago.

[MadeinWigan]

For the way that they'd be driven I suppose that there wouldn't be much difference between the 540. Basically they are both 6 speed saloons with a V8 engine. Obviously the M5 will be a lot more capable but I won't be tearing around on the road.

I nearly bought a 450 around 12 years ago but went with an Elise instead because I wanted a track car. These days I'd appreciate the more laid back nature of the Chim, enjoying the torque.