Hey i checked out a mustang from a lady from church's son. Its her sons car from high school. The car is a 1966 mustang coupe the original color is emberglo and came from the factory with a bench seat up front. 289 2v from the factory. He says it needs a tune up and a carb rebuilt for it to be running. I trust him since he comes from a good family that i know. Im 18 and looking for a mustang to keep forever because my parent still have there high school cars which are mustangs. The car has spent most of its life in arizona and its been sitting since 1993. he says he has all the parts for it to be complete in his shed. He was asking $3000 but it got him down to $2500 but my dad want me to get it down to $2000 so he's going to talk with his wife and consider it for $2000.
To tell you the truth,$2000 would be the very most what this Mustang would be worth. This Mustang need some extensive work,just from what I can see, rust damage. Does it have floor pan rust?, what about in the quarters,frame rails,trunk drop offs. Wow, the interior alone would cost you a fortune to replace.
Go on Ebay, and look at some of the plain Mustang coupes and the prices. IMHO you would put more into the Mustang(alot more) than what it would be worth, thats not including all your labor.
Also, if its been sitting almost 20 years, I don't think I'd just change the oil,transmission fluid and water and rely on it getting me around for quite some time. Also, you got to remember, they made half a million of this body style,so you can get these very reasonable in better shape, just takes patience and shopping around.
Mustang coupes with V-8 like this one in #1 condition, can go for as low as $8K, and in my opinion not much higher than $12K, unless it was a documented K code 289 or a documented GT Mustang.....Just my opinion.
MCA member 27 years(#17780)
1969 Mach 1, Owned 43 years.
1967 Mustang, Owned 33 years.
Just because they are nice doesn't mean they know much about cars. It may run with a tune up, a carburetor rebuild and a battery, but that doesn't mean it is going to run well. Even if you don't care about paint, it is going to need tires and you're not going to enjoy driving around in an old, dirty interior. It would also be a very good idea to rebuild the brakes. That car looks like it has been sitting for a long time. You'll rack up a few thousand in parts pretty quick. If you can spend a little more, or save up for a little while longer, you can find a car that is already roadworthy, complete and has decent paint.
Just from what is shown - 2K is too much (unless the floors are fantastic, the cowls are solid, the suspension is in good condition, the tranny has been recently rebuilt, and...well you get the picture.....) plus its been sitting outside...so chances are slim....I'd politely decline....
I think you have been advised well to pass this one by! My '65 coupe was delivered to Indiana originally but must have found its way out west fast because it has virtually no rust. Just from what I see in the pictures you supplied, I would doubt that it is an "Arizona" car.
1965 200ci I6 Hard-top,
Black & Wimbeldon-White and Awesome Car All-Over!
If the chassis, etc is solid, no penetrating rust and all of the parts are there......a drive off the dealer showroom- new Mustang costs depending on the part of the country you are in and the economy, low end $12k- high end $25k (a real #1 car is by definition a trailer queen, not even the paint is touched by human hands- cotton gloves are required to be worn)....so we are talking about a drivers car (typically considered a #2 or #3)....so, looking at the car add up how much it would cost to bring it to the $12-25K value....what's left over is what it is worth....chances are if you are located in ex SoCal/Bay area...likely in the $2-3K range (again assuming that all the parts are there are there is no penetrating rust)...if you're mid-west, probably a little less....anywhere from $1800- $2200 range.
But there is another element...when you buy someone elses car (which is suppose to be "a #1")...lets say for $12K...you are going to have problems...mostly hidden type that are covered up that are detectable and a lot that has been covered up professionally......meaning, even if the car is professionally inspected, it's going to be missed and the repairs are going to be costly. because this one looks to be faily stripped- meaning with a good inspection you can likely see most every issue, this one is worth more because you will know exactly what you are getting....the extra $500 or so is really cheap insurance....and I have seen more than one "expert" eat it terribly on what was suppose to be a "Nice Car". I would just have it inspected on a hoist by a mechanic/body shop to check to make sure the car's structure is solid...if it is, it's a good one to build off of at that price!
So realistically, what would you pay for a car in this condition?
The problem is not what the car costs to buy. The problem is that if you want to restore it right, since you said you plan to keep it, it will cost you more than it will be worth when you're done (unless you keep it another 30 years, but even then your money might make more in the bank). It will probably cost you $10,000 or more to do a decent restoration on this, assuming you do pretty much everything yourself but spray the paint (you do the body work, you rebuild the engine, you get the idea). Once you've done all that, you'll have a car that will likely be worth - $10,000!
The real issue is that it costs about the same to restore any plain jane Mustang as it does a high-value Mustang. So, unless you just want a beater you can paint with a spray can (or a budget Maaco paint job) and drive around town, I'd either buy one already done (or nearly so) or find a fastback or convertible to restore. You'll come much closer to getting your money back if you do ever sell it. If you do just want a beater to get running and drive around town, $2,000 probably isn't a bad price. Just don't plan on making it very nice or you'll be upside down.
__________________ Plain Jane 65 Coupe - Scary fast (at least that's what my wife says). (SOLD 10/2012)
Feature Car in December 2010 StreetScene (the magazine of the National Street Rod Assoc)
I would offer $800. NO MORE then $1000. It needs a TON OF WORK AS EVERYONE HAS SAID. I understand being 18 years old, Not much money, In time as you go, and have more to spend on it, It can be done. BUT! be sure it is what you want. The $2000. is just way to much.
You know what? If your money is burning a hole in your wallet, I say go for it. A good part of owning a vehicle like this is the emotional attraction. Posters above suggest that you would be paying $500 to $1,500 more than the car is worth. If this is the biggest mistake you make in your life, your damn lucky. You might be able to make up for the mistake, if you want to call it that, by getting good deals on new and used parts. BTW, I suspect that most people in this forum with me included have made an bad choices in auto purchases. But I also suspect that a good number of these same people still have great memories of that "poor" investment. Good luck and keep us posted.
The AutoGuide.com network consists of the largest network of enthusiast-owned enthusiast-operated automotive communities.
AutoGuide.com provides the latest car reviews, auto show coverage, new car prices, and automotive news. The AutoGuide network operates more than 100 automotive forums where our users consult peers for shopping information and advice, and share opinions as a community.