|
Author
|
Topic: would you buy a classic mustang for $15k-$17k?
|
louie
Journeyman Posts: 49
From: California
Registered: Nov 2002
|
posted 06-01-2003 08:28 PM
  
completely rebuilt (engine, tranny, interior, exterior, ect)?we have several classic car shops around where i live. theyre either selling a clean rebuilt classic car or building them & then selling them. would you, personaly, be interested in buying one?
would it be a good idea? my reason for asking is, i never see (as much as i used to) classic mustangs for sale by an owner. we have these shops (as im sure you do) that rebuilds them & sells them.
a local shop has 2 '65 shelby gt 350 clone fastbacks & theyre both over $15k. both look flawless in & out (seen them in person). ive also seen coupes go for as low as $5k at these places. think itd be worth it? [This message has been edited by louie (edited 06-01-2003).]
IP: Logged |
66bluefb
Gearhead Posts: 381
From: Okla.City,Okla.
Registered: May 2002
|
posted 06-01-2003 10:04 PM
2 '65 shelby gt 350 clone fastbacks & theyre both over $15k. both look flawless in & out (seen them in person). ive also seen coupes go for as low as $5k at these places.I think that those are fair prices if they are flawless ------------------
http://ourworld.cs.com/blagintony/myhomepage/auto.html
86-302 HO bored .030 over crank .010 under,
B-303 cam ,harland sharp roller rockers,
performer rpm intake, 625 carter
66-289 heads, ported with 160-194 valves, 3 angle valve job,
4 speed toploader,granada disc brakes, 85 duraspark ignition, pony interior,the who,the doors,and ccr full blast on the stereo
IP: Logged |
indyphil
Gearhead Posts: 566
From: Lafayette, IN, USA
Registered: Jul 2002
|
posted 06-01-2003 10:10 PM
Some people prefer "projects" but truth be told Id be happy to pay 15k for a flawless car. That means not one scratch, and awesome complete interior and either concours engine or a chromed street motor I could eat my dinner off. It would have to be a fastback and maybe have some other rare options. Of course not a Six banger.Its what I dream about when I get pissed off with my car... ------------------
'68 coupe 289 C code
66 heads, edel 600cfm carb, performer intake, dual exhaust
IP: Logged |
Fastback68
Gearhead Posts: 1527
From: Sucat, Paranaque, Philippines
Registered: Jul 99
|
posted 06-01-2003 11:53 PM
I've spent about $15,000 on my car so far, and it's far from flawless. Buying a flawless car at that price will save you money, plus a bunch of blood, sweat and tears.
Thing is though, if I hadn't gone through the horrors of restoration, I wouldn't know a really good restoration if I saw one. Cars that used to look flawless to me now look like cheapo bodge jobs with a lot of chrome, repro parts and lousy paint.
What's the lesson here? Oh yeah ... if you really know what you're looking at, buy a car where someone else has done all the work. If not, better to do it yourself.
IP: Logged |
louie
Journeyman Posts: 49
From: California
Registered: Nov 2002
|
posted 06-02-2003 12:56 AM
heres a few that a shop has sold:
this place is about 45 minutes from me.http://www.mustangmods.com/data/182/65redfb.jpg http://www.mustangmods.com/data/182/65fbshlcl.jpg http://www.mustangmods.com/data/182/69blumach1.jpg
IP: Logged |
Fastymz
Moderator Posts: 10438
From: Reno Nv USA MEM#1240
Registered: Apr 2001
|
posted 06-02-2003 02:27 AM
I think those prices are ok,if the cars are really built good.
And I agree that you'd save alot of time and some money just getting one done already.
I would not give up building it myself for anything.  If I had a shop and the money I'd be build a few of them right now.I want a vert now.I'll get one once my 65 gets alittle further along.The journey is the cake.The finished product is just the icing.Thats just my opinion.
------------------
SCOOP
oddly obsessed with big scoops on little Mustangs 2.26 60'S
14.9 @ 90.86MPH 65 coupe,351w,C4,Big Boss 429 hood scoop,8"3.40 TracLoc,Cragar SS,Black Suede. https://mustangsandmore.com/ubb/Fastymz.html
IP: Logged |
Robert K
Gearhead Posts: 496
From: Nashville, TN
Registered: Apr 2000
|
posted 06-02-2003 09:19 AM
Let me must say this. If you've restored a Mustang before (especially a fastback or convertible) then $15K is cheap. If you've never done it before then I can see where it would seem high. Just like Fastback68, I have about $14K invested in my 65 Fastback and it's nowhere near what I would consider flawless. It's very nice, but it's not a show car and nor did I intended it to be. I could be wrong, but I just don't think you're going to find any truly flawless Mustang Fastback's for $15K or under.
I guess what I'm saying is yes $15K for a nice (not necessarily a show car) is a good price because you're going to spend that whether you build it yourself or buy it finished. And let's not forget about the hundreds if not thousands of hours to restore one yourself. I have seen some very nice fastbacks in the $11-$12 range several years ago but just like my car they weren't show cars or "flawless". Just my .02
------------------
67convertible 289/auto
65fastback 302/4sp
[This message has been edited by Robert K (edited 06-02-2003).]
IP: Logged |
skips69
Gearhead Posts: 228
From: Catlin, IL USA
Registered: Mar 2001
|
posted 06-02-2003 09:51 AM
Would I? No, cannot even think of saving that amount of money (it would be spent on somehting else before I could get up that high), and don't think the bank's would ever loan me that kind of money for a 30 + year old car. Would I spend a couple grand, and then sink $10,000 - $13,000 in it over a period of several years - yes, have done so, and am currently about to do it again. Is it smarter to pay $10,000 - $15,000 for one that is flawless and already done? Absolutely! If you have the means to do this, you are much better off and further ahead of the game than most of us, and I would certainly do it myself if I could rationalize it (and stay married), ha, ha. Definately a good idea if you are in that position.
IP: Logged |
louie
Journeyman Posts: 49
From: California
Registered: Nov 2002
|
posted 06-02-2003 11:03 AM
i dont know if my bank will lend me or finance me $15k for a 30+ year old car either. never asked them.
IP: Logged |
68DARKHORSE
Gearhead Posts: 336
From: Austin, Tx
Registered: Aug 2002
|
posted 06-02-2003 12:41 PM
My bank finaced 75% of my fastback. Other banks will do more.www.peoplefirst.com ------------------
68 GT FASTBACK
www.imboc.com/phpBB/Uploads/1020432917.jpg
01 GT BULLITT www.imboc.com/phpBB/Uploads/1020440453.jpg
96 OJ BRONCO
IP: Logged |
indyphil
Gearhead Posts: 566
From: Lafayette, IN, USA
Registered: Jul 2002
|
posted 06-02-2003 01:03 PM
My bank financed nearly all of my 68 coupe but it was only $8000. I think I paid near $8000 they financed 7K and change. They went off the Blue book value and looked at the photos then agreed to finance halfway between "average condition" and "good condition" I got it on a short 30 month loan I think its almost half paid off already. when its paid off I may think about trading up to a fastback in the 12-15k range and getting another loan of similar amount. Then again after watching "the Italian job" I may have to buy a mini cooper.------------------
'68 coupe 289 C code
66 heads, edel 600cfm carb, performer intake, dual exhaust
IP: Logged |
louie
Journeyman Posts: 49
From: California
Registered: Nov 2002
|
posted 06-02-2003 01:25 PM
quote:
Originally posted by indyphil:
My bank financed nearly all of my 68 coupe but it was only $8000. I think I paid near $8000 they financed 7K and change. They went off the Blue book value and looked at the photos then agreed to finance halfway between "average condition" and "good condition" I got it on a short 30 month loan I think its almost half paid off already. when its paid off I may think about trading up to a fastback in the 12-15k range and getting another loan of similar amount. Then again after watching "the Italian job" I may have to buy a mini cooper.
the mini coopers look like fun cars. i like them but i havent seen that movie tho. i belong to a teachers credit union but i dont know their policy on the classic cars.
IP: Logged |
Fastymz
Moderator Posts: 10438
From: Reno Nv USA MEM#1240
Registered: Apr 2001
|
posted 06-02-2003 01:32 PM
Thats another thing about building my car.NON of it is on credit.Yes it's taking along time to get done.But it's all paid for as I go.
Plus the knowledge that I'm picking up along the way is PRICELESS.------------------
SCOOP
oddly obsessed with big scoops on little Mustangs 2.26 60'S
14.9 @ 90.86MPH 65 coupe,351w,C4,Big Boss 429 hood scoop,8"3.40 TracLoc,Cragar SS,Black Suede. https://mustangsandmore.com/ubb/Fastymz.html
[This message has been edited by Fastymz (edited 06-02-2003).]
IP: Logged |
SteveLaRiviere
Administrator Posts: 32466
From: Saco, Maine
Registered: May 99
|
posted 06-02-2003 02:05 PM
quote:
Originally posted by indyphil:
Then again after watching "the Italian job" I may have to buy a mini cooper.
Then we'll have to call you 'Mr. Bean.' 
------------------
'70 Mustang Mach 1 - '72 Mustang Sprint - '94 F-150 Please remember our sponsors,
Mustangs Plus, NPD, Osborn Reproductions, MyFordPerformance.com, and FordRamAir.com
IP: Logged |
johnmustang
Gearhead Posts: 4046
From: Vancouver Island , British Columbia , Canada
Registered: Nov 2001
|
posted 06-02-2003 02:16 PM
I have been working on my 65 fastback for almost 2 years straight, and I have done alot of the work on it myself. I would not call my car flawless but it is pretty good. So far including the purchase price of the car I am into it for $35,873.28 Canadian money ( added up the receipts last night  ), If I wanted a car right away and did not have time to work on it and had the money, yes I would buy one for $15,000 to $17,000. That seems to be a very low price for what you describe, but I like to work on the cars and I am really learning as I go along, and I know how the car has been restored because I have done it and have not cheaped out on parts and there are no hidden surprises in the car that will rear it`s ugly head a year or so down the line. If you trust the seller and have throughly checked out the car or had it checked out by a qualified person who really knows mustangs then I would think you are getting a great deal. It always seems that you put alot more money into a car when you do it yourself, I guess it is just pride in your own workmanship and you want the car to last. just my.02JOHN ------------------
65 2+2 FASTBACK
87 TAURUS WAGON
98 F150 XLT TRITON V8 4.6, 4 WHEEL DRIVE
Member:Vancouver Island Mustang Association
M&M #1710
MyPhotoPage
MY TRUCK
IP: Logged |
SteveLaRiviere
Administrator Posts: 32466
From: Saco, Maine
Registered: May 99
|
posted 06-02-2003 02:29 PM
quote:
Originally posted by louie:
think itd be worth it?
Sometimes when I'm busting my butt on something stupid on my car I wonder why I didn't just take the money I am going to spend anyway and just buy a totally done car and go cruising already. It would even make more sense for me, healthwise. But then I remember all the guys I've worked with or hired over the years that I've seen or caught taking shortcuts, misassembling, lying, cheating, stealing, or just plain not assembling something the way I would and I think NO WAY!!! For all the times in a shop I've heard "Close enough!" "They'll never notice it!" "The hell with putting all these fasteners back in, those engineers are morons anyway!" "By the time they notice it, it'll be out of warranty anyway..." "Looks good enough to me..." "Nobody can get them to come out right anyway..." and the famous "Ship it!" I've pretty much decided the way to make sure something is assembled right is to assemble it yourself or watch the assembly yourself. Maybe I'm cynical, I prefer to call it 'experienced.' Besides, 'flawless' is a myth. You can stand in front of a MCA Thoroughbred car and write a laundry list of flaws. And if a car does happen to be as close to flawless as humanly possible, you won't find it for $15,000 at a garage looking to make a profit. Besides, like Scoop and others have pointed out, I think the restoration is 75% of the fun. I like taking parts you'd swear should be thrown away and making you wonder if they are brand new.
------------------
'70 Mustang Mach 1 - '72 Mustang Sprint - '94 F-150 Please remember our sponsors,
Mustangs Plus, NPD, Osborn Reproductions, MyFordPerformance.com, and FordRamAir.com
IP: Logged |
John Z
Gearhead Posts: 321
From: Morgantown, WV
Registered: Jul 99
|
posted 06-02-2003 04:10 PM
It's not hard for a shop that has the tools to make a car look better than it is. For that much $$$ you really need to know the car is in top shape. Just a reminder:
http://www.classicmustang.com/Stories/Skip%20Novakovich.htm
IP: Logged |
Fastymz
Moderator Posts: 10438
From: Reno Nv USA MEM#1240
Registered: Apr 2001
|
posted 06-02-2003 04:15 PM
quote:
Originally posted by SteveLaRiviere:
I like taking parts you'd swear should be thrown away and making you wonder if they are brand new.
Amen to that Steve,like the 1977 duraspark box.Off a wrecked LTD thats now running my car.
Or the,ect ect. I can totally understand why some people would buy one all done too. ------------------
SCOOP
oddly obsessed with big scoops on little Mustangs 2.26 60'S
14.9 @ 90.86MPH 65 coupe,351w,C4,Big Boss 429 hood scoop,8"3.40 TracLoc,Cragar SS,Black Suede. https://mustangsandmore.com/ubb/Fastymz.html
IP: Logged |
SteveLaRiviere
Administrator Posts: 32466
From: Saco, Maine
Registered: May 99
|
posted 06-02-2003 04:21 PM
quote:
Originally posted by Fastymz:
Amen to that Steve,like the 1977 duraspark box.Off a wrecked LTD thats now running my car.
Or the,ect ect.
...or the lower radiator bracket that was smashed to a pulp that looks new now. I think in an earlier life I was a blacksmith. Or maybe a farrier? ------------------
'70 Mustang Mach 1 - '72 Mustang Sprint - '94 F-150 Please remember our sponsors,
Mustangs Plus, NPD, Osborn Reproductions, MyFordPerformance.com, and FordRamAir.com
IP: Logged |
grandestang
Journeyman Posts: 75
From: Lake Bluff, Illinois USA
Registered: Jan 2003
|
posted 06-02-2003 09:08 PM
If you are just out to have a car, than sure it is worth it. But if you are out to have something you can be proud of, well, maybe no. There is just a certain satisfaction you get out of doing things yourself. When its all said and done you can look back on it and say, I built that. Then like alot of Mustangers you can sell it and look for another project just kidding.
However I would feel imensely satisfied if I was to come across a Calypso Coral Boss 302 in decent condition for that price! So I guess it just depends on the way you look at it, and how you recieve your satisfaction.------------------
1970 Grande
H code 351W FMX
IP: Logged |
bill haab
Gearhead Posts: 108
From: south bend in.
Registered: Oct 2002
|
posted 06-02-2003 11:21 PM
Go out in pay 20 to 30.000 for the new cars that have brains on them & you can't even work on them. Or go out and build or buy a head turning stang. This is not a barn burning ? stang heads. Bring back the old muscle cars guy's.
IP: Logged |
mustangs68
Moderator Posts: 17354
From: Hampton,Virginia,USA MCA#39406 M&M #12
Registered: May 99
|
posted 06-03-2003 09:10 AM
LOL..
last weeks local paper had a 70 Mustang,302,AUTO,runs,driven daily, neeed works for $300 Our Credit Union will loan 100% of a classic car..I was the 1st to get the loan..go figure sam
IP: Logged |
louie
Journeyman Posts: 49
From: California
Registered: Nov 2002
|
posted 06-03-2003 03:16 PM
just found out my credit union finances classic cars.
IP: Logged |
69 Sportsroof
Gearhead Posts: 1092
From: Valley, Alabama, USA
Registered: Mar 2002
|
posted 06-03-2003 10:59 PM
If the guy will give you names of people he's sold to, give them a call and ask to see their car. If they are happy and you can have the car professionaly inspected I'd say go for it. If the 69 you listed went for 15 to 18 k, someone got a good deal on a really nice looking Mustang. Heck, if you want to work on one, find you a low buck early coupe and get you hands dirty. At the same time you can be driving a nice classic.
IP: Logged |
68 S-code GT
Gearhead Posts: 969
From: Sayreville, NJ, US
Registered: Mar 2000
|
posted 06-04-2003 08:57 AM
I wish I could have paid $15k for my FB and it be flawless. I?ve got at least that much tied up in it and I still want to repaint it again. And $5k for a completely rebuilt coupe sounds good also.------------------
Ed S. 68 S-code FB GT 4spd(now C6)/3.25 PS PDB
68 J-code(now 289) Cp Sprint"B" C4/3L00-9" PDB PS AC
99 F150 XLT Ext/cab, 4X4, 5.4L, 3L55
95 Exploder XLT with the works! (Wife's car) [This message has been edited by 68 S-code GT (edited 06-04-2003).]
IP: Logged |
MLariviere
Moderator Posts: 3240
From: Biddeford,Me.USA
Registered: May 99
|
posted 06-04-2003 09:51 PM
You have to realize that these older cars are all used,therefore there will be an amount of unknown history. What I am saying is,buyer beware. It's not a bad thing to get a done car. In fact,I almost laid out $12k for a 70 Cyclone Spoiler once. You just have to know that you will always be putting into it,for maintainence,or personal tastes. Don't think you will buy one of these and drive it for 3 years with no problems. I wouldn't buy something like this as a daily driver. It would be a collector car,treated as such. Use it in fair weather,drive it carefully,and keep it under cover. Be sure to insure it properly,too. I swear these old cars are magnetic. Every dub on the road automatically clings to my car.  Have fun,know your limits,and most of all,know what you are buying. Check the serial/data plates to a good source for authenticity. I saw an F-code{haha,LOL} 69 Mach1 once,driver condition,go for $7000.
IP: Logged |
lilgtgirl
Journeyman Posts: 98
From: usa
Registered: Jan 2002
|
posted 06-04-2003 10:14 PM
when i bought my mach 1 last year i paid about $14,000. it's completely restored, brand new interior, only a few minor paint ships that you have to really look hard to find. my bank financed 100% of the loan but i had to push them to go 4 years instead of 3 years. also i put NO money down!
IP: Logged |
louie
Journeyman Posts: 49
From: California
Registered: Nov 2002
|
posted 06-04-2003 11:15 PM
quote:
Originally posted by 69 Sportsroof:
If the guy will give you names of people he's sold to, give them a call and ask to see their car. If they are happy and you can have the car professionaly inspected I'd say go for it. If the 69 you listed went for 15 to 18 k, someone got a good deal on a really nice looking Mustang. Heck, if you want to work on one, find you a low buck early coupe and get you hands dirty. At the same time you can be driving a nice classic.
that '69 mach 1 sold for $24k
IP: Logged |
Zoomzoom
Journeyman Posts: 8
From: Triangle, Virginia, USA
Registered: May 2003
|
posted 06-05-2003 04:38 PM
Personally, I restore all my Mustangs myself. There?s a certain satisfaction in being able to drive something that I restored.
However, in addition to my Mustangs, I am also now an XB Falcon Coupe fanatic. It would probably cost me 3 or 4 times more then the cost to restore my Mustangs to restore an XB Falcon to concourse specs, since all the parts (except the drivetrian) were only built Down Under. Both of my 74 Falcon GT?s were already in flawless condition when I bought them; it saved me a lot of money. I paid about $14,000 for each one; there were also the shipping & appraiser fees which added on another $4,500 or so, it costs a lot to bring a car over from Australia.
Definitely use a good appraiser, one that is familiar the car your interested in. They have no interest in purchasing the car themselves and will usually give you a detailed report on everything that?s wrong with the car and if it?s worth the price you?re willing to pay. I had a 76 Ford XB Falcon Coupe appraised in Texas, the guy wanted $10,000. The appraiser came back with a value between $2,000 & $3,000. It cost me $350, but in the long run I saved a lot more.
IP: Logged |
Mustangsandmore Forums
UBBFriend: Email This Page to Someone! 
