1968 Mustang Coupe, title says 9,691 original miles, need help...
OK, so I enjoy buying and selling and keeping classic vehicles, always have my eyes open. I found a 1969 Mustang Coupe (200ci) San Jose factory built mustang under a canopy and unfortunately under a tarp. The body was pretty straight but clearly had some minor rear end damage at one point. Everything looks factory original to include paint and interior. When I received the title, it read 9,691 original miles. The owner claims his father was the original owner, when he passed, he gave it to the guy I bought it from. He had intentions of fixing it up, but left it under the canopy and tarp for the last 20 or so years. Unfortunately, this allowed moisture to remain inside causing some surface rust on the dash and other interior parts. The drivers seat is torn and cracked near the top and close to the door where the sun got through, but otherwise the seats are not worn hardly at all from people sitting in them. Everything I can see appears to be consistent with the listed mileage, but CARFAX or any other independent company can not confirm the mileage because it's not a 17 digit VIN. The car was originally purchased and registered in California, but all of their records are purged after 9 years of inactivity. The vehicle was registered in Oregon in December 2001 and showed the correct mileage at that time as 9,691. Bottom line, I can not find any legitimate source to ultimately confirm the mileage. Can anyone from the "Vintage Mustang Forum" offer any advise? I brought the vehicle home, cleaned it up, had the starter rebuilt (using all the original casing) and I replaced the starter relay. Other than that, I have not done anything, but I plan to replace the underlayment, carpet and have the seats reupholstered. I don't know what to do with the vehicle, I'm afraid any modifications or upgrades could lower the value. I have no idea what the vehicle is worth in it's current condition, but I do know the value has everything to do with being able to justify the actual miles as original. Any feedback or advise is appreciated. I have included a couple pictures to give you an idea of the condition, I can provide more photos if necessary. Oh yes, she does run, smooth as silk, quiet and just purrs. I have not gone through the brakes, but it does shift through all gears and stops. Most lights appear to work, headlights, brake lights and running lights, blinkers are not currently working. I believe emergency brake is off, but release is stuck and does not move. Horn and wipers work. Thank you all in advance!
UHmmm- you say you have a title for a 69- I am sure thats a typo b/c what the pic shows is a 68. Assumng a typo then all wear parts should be Ford- like brake pedal rubber shouldn't be worn, radiator, water pump- (can't recall what yrs had nylon timing gears-my 69 did) Keys shouldn't be worn much
Interior looks real rough to be only 9k miles, have seen mucho mustangs with 100 to 200k miles that look better than yours- steering wheel all cracked, kick panels missing pieces, seat uph worn and not from just sun. JMO sorry. Wes
Under 10,000 original miles is a nice little thought, but no. The worn-clear-through-in-spots driver's seat alone tells a different story. The base '68 coupe I started with had 122K miles on it and the seats looked better than those. (I even sold the nice seat tracks from them to Wes, "mustang656man".)
On the bright side, given the overall condition it doesn't matter much anyway.
If most of that rust is just the surface only variety it's a nice starting point.
When it comes to price/value the three main factors that I have seen present in high value cars include:
the car's provenance;
the car's condition;
and what exactly it is, feature and equipment wise.
While a low odometer reading is nice, whether it reflects the true mileage or not really does not have much to do with the value of that particular car in my opinion.
Starting with the car's provenance, complete ownership/registration history with credible documentation of servicing, maintenance, and repairs can add value, as can celebrity ownership/history.
Looking at the car's condition, that particular car has been neglected and the apparent condition, even after cleaning up a bit, is less than optimal. This becomes significant when the cost of refurbishing is factored into the conversation. Even if you are turning your own wrenches, I suggest that such a refurbishing will far exceed its finished value when completed.
What features and equipment are present is a big part of price/value for cars originally sold on an "a-la-carte" basis. Generally a rust free big block fully optioned fastback with a Marti report verifying the build will tend to be found at the upper end of the price/value spectrum. Unfortunately the collector market looks less covetously at a fairly unremarkable somewhat rusty 6 cylinder coupe that tends to hover at the lower end of the price/value spectrum.
Not sure what you paid for this car or what you think its value might be as it sits currently. IMHO, the value/price range would likely fall within the $5000-$15000 depending on the condition at time of sale and whether you are flipping it as-is or making repairs to enhance value.
dzahm, yes, the 1969 in original post is a typo. I have a 1969 daily driver but the thread is about a 1968. Most have requested additional photos so I did my best at providing those. I'm emberassed as I have not completely finished cleaning it, especially the door jambs. The pedals to not appear to have much wear, just a little in bottom right of the gas petal. Drivers side carpet is a mess, but that is due to rot from water. If you look at the rubber where your heal would go, there is hardly any wear. Don't get me wrong, I am not an expert and I am not pressing the issue to insist this is a 9k mile car. I respect everyone's opinion on this post and I appreciate all the feedback. After looking at the updated pics, please let me know any further thoughts, suggestions. Thank you!
I paid $1,300 for the car so I know I am in good shape. It runs smooth as can be, so whatever the mileage ends up being is mostly irrelevant to me because it still has great potential to be a daily driver. I just wanted to make sure, as much as possible, anything I did to it from this point forward did not ruin the value if it truly was a 9K mile car. I checked carfax and autocheck, neither can provide any vehicle history since its a pre 1981 vehicle (less than 17 digits). I called California DMV, they have no record of it, because anything inactive after 9 years is purged. The title came from California to Oregon in December of 2001. As far as my research has gone, there are no avenues out there to get any DMV and/or owner history prior to 2001.
All I have done, other than cleaning, is oil and oil filter change, new fuel filter with additional fuel filter pre pump and the starter and relay as mentioned in the original post. I saved the original starter relay and fuel filter just in case they were the originals.