66 toro sell or keep??

[69gtojudge]

greetings and happy holiday/christmas to all! I have a dilemma. I purchased a 66 toro deluxe a year ago . The transmission was in the trunk! So... I could not start and listen to the engine. I took a big chance and bought the car anyway because it was just so beautiful. New trumpet gold metallic paint , correct original color, no rust rot or bondo anywhere on car and solid as a rock. The car was completely original and un molested, nothing missing either. Last month I finally had the trans completely overhauled and installed back into the car. however, before it was operable and safe I had to have a new brake master cylinder and all new brakes front and rear including wheel cylinders done. Next , the carb was so bad from 4 years of sitting with out starting or running the car, that I could barely start it. No choke, fuel squirters, and stuck floats. So, I put a brand new carb on her, drained all old gas out and flushed fuel lines. I changed the oil and filter three times on the engine within the past month in order to try and flush it out. I did a complete new tune up including new fuel filter and adjusted the ignition timing to where it should be. So whats wrong you ask? The engine runs smooth with new carb and always starts right up, but it has no power and smokes out the tail pipes like I have never seen on any car. Took it to a top local mechanic . He says engine very tired blowing oil past the piston rings. Odometer reads 41,006 miles and he says it has most likely 241,006 miles. My dilemma is do I spend 3 or 4 thousand dollars to have the engine completely overhauled or just sell the car and take my losses? I just dont know if this kind of car is worth putting that kind of money into. I know nothing about Toronados and simply bought the car for its very good looks! Looks like the big chance I took just blew up in my face!! Car also needs some interior work. Please respond with any advice..... I need to hear from people who know about 1966 Toronados , and know the market values of these cars.

[hullinger]

A good car friend of mine sent me this link several weeks ago. It shows actual sale prices of cars and provides a very good real-world look at values. It seems this price guide is much more accurate than Old Cars, NADA or Hagerty. So, using your description and this guide, I could only guess that a reasonable selling price for your car might be in the $6K - $7K range. After the engine rebuild and interior, you might be in the $10K - $12K range. Whether to continue on with the car is really a personal decision but being sensible is the balancing act. I guess it all comes down to how much you have in her currently. As for the engine, you can always find another 425 or 455. Purchase, shipping and install might run you $2K - $3K with having others do the work.

Chris

http://collectorcarpricetracker.com/auc ... 1966-1967/

[69gtojudge]

thank you for your reply to my post. your information was very helpful indeed.

[Mikel]

Did you check compression and oil pressure? Cheap things to know before making expensive decisions...

[Robert Lindberg]

All depends if you love the car or bought it to make money on the second doesn't happen to offen.
Seems there is always good used motors available. Where are you located? I think you could buy and have a used engine
installed for under $2000. What does everyone else think??? Bob

[69gtojudge]

compression check will tell all i am sure. I will be doing that next. still, if it had healthy compression it would not be burning oil the way it does. My mechanic said he did not even need to waste the time doing a comp test after examining the engine.

[69gtojudge]

I have been told that I must rebuild the original engine because a non original engine would kill the value of the car. I do appreciate all of your responses.

[hullinger]

I have been told that I must rebuild the original engine because a non original engine would kill the value of the car. I do appreciate all of your responses.

Sorta. These cars just aren't worth as much as they should be so taking a hit due to an incorrect engine really shouldn't be too dramatic. Installing an incorrect but good running engine could offset the difference in value. I guess it all comes down to how much cash you'll have into her versus value. I suspect though that having a good running but incorrect engine increases the value more at this point than the poor running correct engine.