Thanks for all of the feedback guys. I am wrestling with whether to fully commit to the car that I just bought a couple of weeks ago (I'll call it the Pewter) or stop where I am at with it and purchase a white 2000 AE (call it the White) that came on the market (Phoenix Craigslist) last week. If bought the White, I would just relist the Pewter on Craigslist for $4K or so given the work and maintenance that I have performed.
The seller on the White has his Craigslist ad down right now or I would post the link. He is in Hawaii for a vacation and does not want to deal with calls when he can't show the car. But says he will give me first shot at the car when he gets back in a week and relists. The White has 80,000 miles. His father in-law bought here in Phoenix then he got it from the father in-law about 6 years ago. The seller says that that car is perfect -- paint, interior, mechanicals. I have not seen it yet but I plan to at which time he says he will show me the maintenance history. He wants $6,900 and says he is firm.
The Pewter has spent some time outside of a garage. The paint is not bad, but far from perfect. Everything works in the cabin except the heat, which I did not plan on fixing as I don't need it here in Phoenix. The rear seat is good but the both front and passenger seat bottoms need recovering. Calling around that will probably cost $300 to $400 if I use a modern vinyl, which I think looks pretty nice.
The Pewter drives, rides and shifts nicely, even with what I believe is the original factory transmission fluid still in the transmission. Mechanically, the main issue with the Pewter is the oil seeps. The oil seeps seem to be at the valve covers and front timing cover. Replacing those three gaskets is a big hours job at a shop and expensive. I have been studying the valve covers and it looks like I might be able to handle that myself. The passenger side looks fairly accessible and that side shows much more leakage than the driver side. The driver side valve cover looks like quite a few more things need to be moved to gain access. I don't know how much is involved with getting at the front timing cover gasket, but that may be beyond what I should attempt.
The ask of $6,900 on the White seems a bit high, even if the car is perfect with a good maintenance history. Here is a link to a recent ebay sale for a 2000 AE that seems very similar to what my local seller has for sale.
http://www.ebay.com/itm/Infiniti-Q45-IN ... 2045387070
This is a Florida car that looks clean as a whistle with 75,000 miles and it sold for $6,200. The ebay car looks very similar to the White in terms of claimed condition.
I could keep the Pewter, fix the seats, DIY the valve cover gaskets, and I would have an imperfect but nice car and be in it for about $4,000 plus a bunch of sweat equity. The bumper skins are pretty beat up. I don't know how much it would cost make those look nicer. Maybe another $500 - $750? That would put at under $5,000 invested with quite a few of the major mechanicals taken care of.
Or I could see if the White seller would take the same $6,200 that the ebay car sold for. I would have a cosmetically nicer car with lower mileage in exchange for the extra investment. I am the type of guy that keeps his stuff for a long time. So I am leaning toward the white if it checks out mechanically. I am curious to see what major components, if any, have been replaced.
Any feedback on which seems like the better option?