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. Next I want to swap the standard V6 and put in a newer LS1 Corvette engine
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Now thats a project I bet, you will never end up doing. You want a cheap car and you're going to buy an expensive engine like that? You realize how much a LS1 Corvette engine would cost you?
I say keep saving up your money and don't rush into buying a car. Patience man, patience. If it's really necessary for you to own a car right now to get places then buy something really cheap and again keep saving your money for that Firebird.