Hello all, I'm new to the forum and might be a consistent member if I make a decision.

I've been looking for a project car for a long time. Even though I already have a daily driver. I really want a project car just to work on like a hobby. Anything that would be a 5 speed rear wheel drive fun car. And I basically found it.

I found a 1987 Mazda RX7 GL or GSL it was probably a typo, 5 speed. Anywho, the engine is not working at all. It states that the engine has "lost its compression." I contacted the person and he said that I could have it for 500$. Should I do it? I can most likely borrow the money from my friends then pay it back, but the thing is I have to store it for a while until I can get money and I already have that covered.

I have my girlfriends birthday coming up in two weeks and the guy thats selling it to me is giving me until 5:00pm on Monday. Should I do it? And can I rebuild the engine for less than actually having to swap it?

Should I go rotary? Oh btw, it's 90k original miles.

I'm asking for you guys to make the decision for me

Thanks in advance,
Anthony

 

I think the GSL's were first gens, there was a GXL second gen between '86 and '92.

Should you do it? Yes, because I and many here love rotaries so much that we'll force our addiction onto others :P Can you rebuild it for less than swapping? Probably, but a rebuild that cheap would probably not last long. Look in the classified section, there are often running and or recently rebuilt motors for sale, or you can buy components and build it up.

Should you go rotary? Yes, and never turn back, lol. They're a blast to drive. "A genuine 130mph sports car", haha. If you stick around long enough you might see the video I'm referring to... old RX-7 vs Porsche 944 comparison video.


If you're going to be storing it on someone else's property you should probably be prepared to have it stored for twice as long as you expect (money, lease, bribes, blackmail, what have you ), just in case you can't get everything together you need to get it running soon enough. Sourcing parts cheap takes time and patience. I was hoping to have my motor rebuilt by the end of this month. Mazdatrix ran out of some items I need and they'll finally get here this weekend, and I wasn't going to start porting until after those things got to me. It could be another whole month or two if I hit any more bumps in the road, possibly more if I have to replace any more major engine parts.

 

hmm....WELL I SAY put the woman first, cuz shes gonna kill ya if you dont have the dough to do something nice for her. YES rotary's are awesome and you should have one atleast once in your life. Rebuild unless your doing it yourself i dont see it happening for under 1g, the cost of a jspec. May be able to find a used motor though. Put pics up so we can see

 

Well my friend lives in a mobile home area and around the way is a little gated storage bin, all he has to do is ask him if he can use it. I seriously doubt that he will blackmail me. Oh and I would love to buy a running rx7 but well 500$'s is all I can afford right now and even then I still have to borrow the money from my friends. Plus the rx7 classifieds here are being sold mostly by enthusiasts so the prices will be higher. This guy really doesn't know that he's selling an "FC." I really want this car but I wont be able to do anything to it for a long time. Lol plus I'm sorta hiding it from my parents. But come on a 500$ buy? And I could, if I didn't have enough money to rebuild it, turn around and sell it.

Yah, I'm pretty much a spoiled brat trying to get another car, I currently drive a 2004 nissan altima. Anyways, I just emailed the guy back saying if we could meet up tomorrow so I can check it out.

 

Yah, my girl thing was what I'm really thinking of. lol.

Here are some pics.

 

What I tell people considering buying an rx7 is this:
If you aren't ready to put constant time and money into the car for the first couple years of ownership, then don't own an rx7. Period. These cars are 20+ years old, and many still have a lot of original parts. I have seen and heard of numerous people who have been frustrated with their car enough to give up entirely on it and sell it, taking a big loss doing it. I suggest before making your decision to buy one, do some research on the forum and educate yourself about the kinds of repairs that are commonly done and get a better idea of what to expect to have to do once you buy it. You could easily spend a minimum of $1000 to do a basic rebuild on the engine and not know the condition of the trans, rear diff, etc until you have a running engine. Kapish?

Whatever you decide to do, best of luck and welcome to the forum.

 

theres nothing special about that car, if the motor is toast expect to spend 1-1.5k for that, plus about 5k replacing everything else just to make a nice DD.

 

he's giving it to me for 500$. should i go around and sell it for the price you just mentioned?

 

$500 is a good price. don't try to flip it for more, you won't get much. It could be a good project if it's clean. But I would budget at least $2000 to get the car running, including a new motor. THat's if you are confident you can do all the work yourself (with the exception of rebuilding the motor itself)

 

As a comparison, I gave $850 for a '90 GXL with around 30,000 miles on a rebuilt engine. The interior was in bad shape and the paint was faded. I picked it up in Vegas and drove it 20 hours nonstop to OKC without a single problem. I restored the interior, buffed the paint and now it's a perfect DD. It's all a matter of budget, ambition, time management and your willingness to learn about what to do to your car to make it functional and enjoyable.

 

If you have a DD and have to borrow money to buy a project car, don't do it.

That's the best advice I can give you. Life can be a bitch, repairs can come up (on the DD), etc. BTW, its a GXL, top of the line NA (also the heaviest). See sticky on top of this section.

 

^+1

 

Dont buy it, you can't afford it. Seriously. Do yourself a favor, and stay away from Rx7s untill you have steady/disposable income.
-a

 

ABSOLUTELY DO NOT borrow money ESPECIALLY from friends if you have to buy it.

There will be an RX-7 waiting when you have available funding, maybe even a better deal.

 

Don't do it!

You currently do not have the financial stability for this project, and buying that car will only make your situation worse. If you want to engage in high-dollar hobbies in the future, then you need to work on building up your wealth and credit first. You can do it if you put your mind to it. Otherwise, just stick to lower cost hobbies like video games and car magazines. Everybody has a different comfort level, so you will need to choose yours.

I spend quite a bit on my RX-7, but that is AFTER investing in:
- 2 College degrees
- Maximum IRA contributions ($5,000 each year)
- Maximum matching 401K contributions (5% of my salary each year)
- An additional $2,000/year in investments
- Health and life insurance

 

Alright guys thanks so much!
I decided to not buy it. But I still do want an RX7

Yah I completely agree with you, I'm an impulse buyer. =\

Thanks to you to aviator

 

Good choice! You can still hang out here in the RX-7 forum and learn a lot about these cars until you are ready to buy one. Mazda may even offer a brand new RX-7 as early as 2011.

Also, we often have subjects in the Lounge section that you may want to check out or participate in, such as how to raise your credit rating, what jobs or training programs are hot right now, homework or school project questions, etc. While there is quite a bit of silliness and insult slinging in the Lounge, it does offer you access to people on this forum who are very experienced in various industries and hobbies.

 

Even though you're not buying it, $500's a good deal for that. You could buy it and part out that interior and already have a profit