V8V Roadster - Negotiating over timing cover gasket

[snubbers]

Hi,

Just wondering on opinions of negotiation on any car that is otherwise in good order but a PPI mentions the 'small leak from timing cover'?

I've found a car that is an early 4.7 (2009) that is up for £41k... On the plus side it's got a great service history, the last 3 being at a popular indy, one only 3 months ago, but the health report I've obtained for that indicates it has the common issue of an oil leak from the timing cover gasket. I've phoned them directly and the verbal information was "1-2 years worse case" and reading between the lines, since they've done the last 3 services, I think it's only just started.

So just focussing on the oil leak, which is a £4k job by the looks of it, how would you approach this from a negotiation point of view?

I feel £2k would be a reasonable compromise..

Or would people suck it up or just pass on by?

[LTP]

snubbers said:

Hi,

Just wondering on opinions of negotiation on any car that is otherwise in good order but a PPI mentions the 'small leak from timing cover'?

I've found a car that is an early 4.7 (2009) that is up for £41k... On the plus side it's got a great service history, the last 3 being at a popular indy, one only 3 months ago, but the health report I've obtained for that indicates it has the common issue of an oil leak from the timing cover gasket. I've phoned them directly and the verbal information was "1-2 years worse case" and reading between the lines, since they've done the last 3 services, I think it's only just started.

So just focussing on the oil leak, which is a £4k job by the looks of it, how would you approach this from a negotiation point of view?

I feel £2k would be a reasonable compromise..

Or would people suck it up or just pass on by?

If it was a good car I wouldn't pass on by - my V8V had exactly the same issue, in my case fixed under Timeless.

It isn't a 5 minute job, as I was told they have to drop the front subframe to get access, then have to do a full geo after. Mike on BR has a video on this issue - he's his usual "MDs don't do it right be we will and you have to take the engine out" but he does say to assess how much oil is leaking and, if it's just a weep, maybe it's not worth doing now.

I assume it's not at an MD? If it is they should issue a Timeless and they can get it fixed on that. At the end of the day there are plenty around but, if it's a good car other than that, try it on for £2k - you don't ask, you don't get. If they say "no" then it's your call.

Personally I'd rather buy a good car with a known mechanical oil leak than one with paint issues - but that's me.

[CatalystV12V]

My view would be, don't pay for the pleasure the previous owner has had.. If he's selling the car with a known problem then he should fix it, not you. Or reduce the price to cover the repair.

[snubbers]

CatalystV12V said:

My view would be, don't pay for the pleasure the previous owner has had.. If he's selling the car with a known problem then he should fix it, not you. Or reduce the price to cover the repair.

The car is in a generic "specialist" garage. They did not know, so the previous owner has passed it on without disclosing and it's well hidden of course. I found it out when doing due diligence and was told by the Indy I should definitely read the report closely, but could not tell me what it was, I had to get the garage to phone them, so he was honest enough to do that, and I've since spoken with the Indy to clarify it all.

I'll got and look at the car as there is nothing to lose, but thinking it over last night, even if the rest of the car checks out really well, I have to consider that selling it later means if I don't spend the £3k+ to get it sorted, I'll be in the position of having to discount the car heavily for the same reason.

Probably the 5th car I'll end up walking away.. it's at the top of my budget, and my budget is probably the issue, it's enough for a clean/well sorted early 4.3 car, but that's it... but tipping in to early 4.7's even at mid price is a minefield again..

[bennno]

snubbers said:

CatalystV12V said:

My view would be, don't pay for the pleasure the previous owner has had.. If he's selling the car with a known problem then he should fix it, not you. Or reduce the price to cover the repair.

The car is in a generic "specialist" garage. They did not know, so the previous owner has passed it on without disclosing and it's well hidden of course. I found it out when doing due diligence and was told by the Indy I should definitely read the report closely, but could not tell me what it was, I had to get the garage to phone them, so he was honest enough to do that, and I've since spoken with the Indy to clarify it all.

I'll got and look at the car as there is nothing to lose, but thinking it over last night, even if the rest of the car checks out really well, I have to consider that selling it later means if I don't spend the £3k+ to get it sorted, I'll be in the position of having to discount the car heavily for the same reason.

Probably the 5th car I'll end up walking away.. it's at the top of my budget, and my budget is probably the issue, it's enough for a clean/well sorted early 4.3 car, but that's it... but tipping in to early 4.7's even at mid price is a minefield again..

Are you buying on cash or finance?

If it’s cash and it’s the top of your budget then offer 4k less than asking due to the cam seal leak repair.

If it’s finance do you have the cash to fund the repair, if not walk away.

[Hedged]

I have had a 2014 4.7 from new and dealt with the timing cover gasket replacement early on (out of warranty). The severity of the leak on the 2010 candidate is a consideration, as a slight weep that accumulates to the point of visible concern can be, and often is, lived with. At the least I would have the seller clean the accumulated oil off and then I would insist on an extended drive, say 100 km and examine the leak after cool down. The bottom front of the engine where the leak is most often observed is very accessible w/o the need to remove the under tray. OR get the $2K knocked off and be on your way prepared for a repair at some point.

Don't discount the value of a comprehensive service history with receipts and not just stamps in a manual. IMO that ultimately is more important than finding the exact spec one would want. Finding a 4.7 roadster (especially a manual) will take longer. If this car has the ASM you should get a measure of remaining clutch life, and also check the records for convertible top issues (a new CRM would not be a bad thing....I have 50K on mine but they do fail).

Good luck!