Barn Find -- 76 GTV -- Is It Worth It?
Take my comments with a grain of salt, considering my circumstances and Alfa experience were and are probably much different than yours, but anyway....
Having never owned a '76 GTV only a sedan, I'd be somewhat intrigued with it, especially since it's not red. As far as having low oil pressure; others are saying no based on having to rebuild the engine or replace the engine. If that's a problem for you, you should probably pass; if you have a spare engine lying around, probably not an issue. The availability of donuts could be an issue, depending on how much money you want to sink into the car, locating a source, having them made, etc. There is always a solution, depending on the amount of money that you're willing to spend and how much staying original means to you, even in parts that are not seen.
I only see surface rust on the parts of the car that I can see; however, you mention that there is rust around the windows, that is usually not a good sign of what might be below. Rust repair around windows, especially, the windshield can be done successfully, but it takes someone who knows what they're doing and you're going to pay for that expertise. It's difficult to see from the picture, but I may also see rust above the left directional signal housing, which also is not a good sign, if water has seeped down into the housing and created unseen problems. Left unattended the surface rust will turn the car into a rust cancer piece eventually and if not repaired will make it impossible for you to sell at much over a parts car price.
The actual interior seats look good to me, but there is something about the interior front floors that bother me in the picture. I can't put my finger on it, just my gut feeling based on the way the wires are hanging which makes me think that there may also be electrical problems, which are one of the hardest things to hunt down and sometimes it's easier to just gut it and rewire so that you don't have the car "shorting out" at inopportune times.
My best guess, if Pat really wanted the car, and he was certainly capable of bringing it back, he would pay between $1 - $1,250 tops. If you're looking for an everyday driver without a lot of work and expense, you might consider totally passing on this one and finding a better one, or if you could get the price down on this one and find a running one with a ratty interior where the two prices would come out about the same, buy it, and transfer the interior. The second option almost requires that you're into Alfas, have a place to store one while searching for the other etc.; the timing of finding two vehicles doesn't always mesh.
Good luck in finding an Alfa that suits your needs, life style, and abilities, both skilled and financial.
