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Old 12-09-2010, 11:07 PM   #1 (permalink)
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Default 1966 GT mustang fastback

I have been looking at a 66 GT fastback for a quite a while now and wondering if the GT cars these days are REALLY holding their value that is worth restoring? I found one for 7,000.00 but needs total restoring, but its a WHOLE car 4 speed and all. Or I found a 6 cly for 8500.00 where the body is redone but just basicly needs paint...Do you think its worth foolin with this GT that needs Quarters, and frame rails, the floors are good! Or this T code for 8500.00 that is driven and has an EXCELENT body?

I figure I could swap the 6 cylinder stuff for the V8 stuff...
what do you think?
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Old 12-09-2010, 11:45 PM   #2 (permalink)
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Default pictures please

We need to see pictures please!!
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Old 12-10-2010, 12:01 AM   #3 (permalink)
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without pics it's hard to say. But, it all depends on what you can/want to do. I would say the 6cyl car that just needs paint and if you want to do a V8 swap then go for it. Personally, I've done both and find it's easier to do mechanical than bodywork on my own in a timeframe that works for me.
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Old 12-10-2010, 12:02 AM   #4 (permalink)
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p.s.
either way, I would take the one you don't
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Old 12-10-2010, 12:17 AM   #5 (permalink)
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Some don't look at it this way, but I would have to take the true GT, because it's going to hold it's value more in the long run and it's a complete car. you will still have to put work into the 6 if you do a swap and paint it, so why not put it into something that will hold it's value better in the long run.

Just my two cents.
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Old 12-10-2010, 03:18 AM   #6 (permalink)
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If you buy cars as keepers, do the GT. If you cycle through cars, I'd do the 6cyl.
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Old 12-10-2010, 05:52 AM   #7 (permalink)
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An interesting situation to question but without a close inspection of both cars it is very difficult to determine a proper course. I always prefer to look over a car in a "raw" state if you would. Too many times someone has had a quick body job done and a repaint over the top of lots of body filler and rust. The lingering question may be what it looks like in a couple of years. Just as a personal preference, if you're buying a car because you really want a piece of history then I would likely lean toward the V8 that has everything you want on it. It will retain better value than a converted car. Realize that on a V8 conversion, the engine is only one of the components that needs to be changed. There's also the rest of the drivetrain not to mention the front and rear suspension components. Do a quick tally of some projected costs to end up with the car you really want in the configuration you want and it may help with the decision process. Again, this without seeing either one. If you make the repairs to the body properly it will last for generations and you'll have an original V8 car.
It would be good to really go over each car with a fine tooth comb and a friend that has some knowledge of Mustang weak points.
Pricetags seem to be in line.
Good luck either way.
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Old 12-10-2010, 06:08 AM   #8 (permalink)
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Be cautious of the word "GT". There are very distinct differences to actual "GT" cars. The premium you should pay for a True "GT" in my opinion should be because your doing a restoration to make a rare car, which true "GT"s are. To find one for $7000 is a good deal, depending on condition. If its missing all the fastback stuff it could cost you a bundle to restore. If your not worried about the "factory" fastback stuff then your making a restomod out of a true "GT". Seems a waste. I just bought a 65 fastback a-code 4 speed Dearborn car for $11,500. It also needs quarters and trunk floor and frame rails but its all there. Fastback parts are hard to find and always expensive but thier worth it!! For $7000 I'd buy it if its all there. 6 Cyl. cars are just not worth as much and to V8 it costs alot and it will always say "T" in the vin....
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Old 12-10-2010, 06:21 AM   #9 (permalink)
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Like said above if you want to keep the car original get the GT if you want to restomod it get the 6 cyl & swap in a V-8 like I did on my 65 Fastback. If you do want the GT make sure it has the factory GT stuff & it is not one that some of the GT stuff was added on to make it look like a GT or someone is calling it a GT.
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Old 12-10-2010, 07:33 AM   #10 (permalink)
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Like said above the fastback would make a nice car,especially if it is a true GT. Look for the things that can't be bolted on like the dual exhaust reinforcement under the rear seat and in the rear frame rails. Of course it has to be A code or K code to be a GT. Six conversion is ok if you're going to keep it, but if I were looking at it the six would have to still be there for me.
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Old 12-10-2010, 07:36 AM   #11 (permalink)
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O yeah I gave $6,000 for my coupe GT in running condition. How ever I am doing a lot more sheet metal work than I had planed on.
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Old 12-10-2010, 08:07 AM   #12 (permalink)
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For $8,500 you would have a car you can drive and enjoy now. In 5 years it will be worth about $8,500.

For $7,000 and 5 years you can have a car you need to put another $30,000+ in to have a car worth $30,000.

What is important to you? It is your choice
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Old 12-10-2010, 08:22 AM   #13 (permalink)
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Do the math.

Figure out what kind of work you can afford to do.
Figure out how much the car is worth when done- be realistic.
Figure out how much it costs you to get it done and if you can really afford it.

Please bear in mind that a car that just needs paint may also really need a lot of mechanical parts. Many restoration are just body and paint and the suspension, brakes and drive line are still 100,000 worn.

Too many guys get caught way upside down in money on their cars. The are so many Model A guys with $40,000 in a tudor worth $15,000 tops. Same goes for Mustangs.

A true GT Fastback has so much more selling power over any 6 cyl.

What gets me is the prices you are willing to pay. I have been told I was nuts for wanting 10K for a v8 fastback with all the body work done in primer, rust free lids and fenders, new interior, many of the parts new or NOS. I got tired of the $5000 offers and took it off the market for now.
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Old 12-10-2010, 08:53 AM   #14 (permalink)
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Hey you got some interesting responses.
wonderful advise guys.
I expecially like the 8500 in five years is till 8500.
my 2 cents was how often would you drive it? would it bother you the only way you could get the tires to squeel was an abrupt turn or a donut?? LOL of course. I think it is way fun to do a resto so that would be my vote./but I would try to chisel./at $5500 or so you are golden/ dont forget if a TRUE GT and there are clear ways to verify.. you have A code, 4 speed manual, disc brakes....any other options?? I would go GT...what color is the GT? that might have an effect too of the big bonus you can paint the car the exact color you want/wanted when ready/ is the 6 banger the color you absolutely want?
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Old 12-10-2010, 09:06 AM   #15 (permalink)
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A few years ago, i would have said definitely the GT.

However, after working on doing what it sounds like the GT needs, I can say, be careful before you decide to do that commitment.

Unless you have many thousands of $ to pay someone, or 1000s of hours of free time (and many thousands of $ for tools and supplies) the GT will never get done.

Just my .02.

Last edited by jtfx6552; 12-10-2010 at 01:48 PM.
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