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Discussion Starter · #1 ·
Hello poeple first topic and post. The story is my son who is 5 years old has been given a '67 hardtop coupe mustang. This car is in decent shape. It needs interior work, suspension work, paint job, and some engine work. It has a 302 in it now but I have access to it's original 289. I know you can't turn down a free car, especially an antique. My real question is is this car going to be worth the money it will take to restore it. If anyone has restored a car like the one I describe, about how much will it cost and what will it be worth when complete? My boy is only 5 so we have about a decade to do everything. How hard of a challenge will this be for a "rookie"? Any and all tips and information will be greatly appreciated
 

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The value of any coupe will have a lot to do with the options that it has and the codition of the car. Take a look at this beutiful '67 coupe that just went unsold on ebay.
http://cgi.ebay.com/ebaymotors/ws/e...STRK:MEWA:IT&viewitem=&item=150169438230&rd=1
This seems to be a really nice car that just does not have any "wow" appeal. A fastback or vert in the same condition would have been snapped up for 10-20k in my opinion. This coupe would also have been more marketable with a better paint color and some better options.
I would not spend 20k to restore a car that you could not sell for more than 5k unless it had a lot of sentimental value.
Having said that, not all cars require a 20k restoration. Many cars need only a few things hear and there to be roadworthy and presentable. Rust is your biggest enemy here. If you have little to no rust, and the car is running, you are in great shape to get to "daily-driver" status.
I would estimate the cars max value based on its options. We can help with that if you give us more details. That is what I would set as the max amount that I would be willing to invest in a restoration. Some are willing to dump more than that, because they enjoy the process or are building a show car.
Then you can come up with a strategy to get your car where you want it. If your metal is solid, you can actually completely rework a '67 interior for under 1k. You can do pretty much all of this work yourself and makes a huge improvement in a cars appearance.

Sadly, the numbers just don't add up for many coupes. The restomod movement has helped out quite a bit though. Tastefully modded coupes get a lot more respect that they did 15 years ago. You can easily add disk brakes, a T5 tranny, AC and maybee some GT trim pieces and you will turn a lot more heads that the plain yellow coupe in the ebay listing. And many of the new restomod options are actually cheaper than going with a concourse/stock restoration.
 

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Discussion Starter · #3 ·
It is not really sentimental to me but the family member who is giving it to us...maybe some sentimental value. Also my son (although he is only 5) is in love with the car. We are going to have to by him a car when he turns 16. A good used car will probably be 15-20k in another 10-11 years. If we could spend somewhere in that neighborhood fixing the mustang up, it would be a pretty good trade-off in my opinion. He will be driving an Great American classic instead of an every day car with the same monetary investment. I will get some pics posted for you guys to look at for me.
 

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if you are a car guy go for it! If you need a project to protect,work on ,spend lots of time and money on,go for it,otherwise sell it and put the money from the sale,all other pocket change and at least 1000dollars a year into a cd for your sons education and car and reap the rewards in 10 years! wes
 
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I'm all for holding on to the car, fix it up and have a classic.

Now for the negatives.
You should have room for it being in 'being fixed' condition for years.
You have the monetary means to do the job.
And although many here do drive their classics daily these cars are 40+ and for yours it will be 50+ years old. Safety for a new driver isn't there compared to new cars.

Keep it and enjoy the years with your son fixing it. That will be worth the money and effort.
 

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Discussion Starter · #6 ·
Thanks for the input guys. Keep it coming. As far as the car, I am not planning on making it "show room new" just a nice car that he will be excited to drive. The finer details can come once he realizes what he has and appreciates it enough to take extremely good care of it.
 

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It will be important to have a place it can sit and be worked on, not sit and stored. I did mine in a one car garage, it be much easier with more room, but you do what you can with what you have.

Personally, since you have more than enough time, I would do EVERYTHING yourself if you could. This way you learn how everything is done (even big things are just a bunch of little things you need to know), and then, if you're son is anyhting like I was in highschool, he'll want to another project, then you'll know how and it will go much easier.

Doing everything yourself and shopping around (patients is key!), you could come out on top with what you put into it and what its worth. Mine needed a lot of work, but in the end since it was all me, I only spent about $2,000 in supplies and upgrades, yes that includes the paint job (that only ran me $600 in supplies). Granite I still want to take it farther and make it faster, but she's come a long ways this year.


The bluk of a job is usually body work, but if you don't have any rust, this is just a week touching up dents with some filler. Interior isn't difficult, you can basicly replace an complete interior for under $1,000 (minus the gauges) if it doesn't even have anything at all. Suspension isn't too bad, but it can get pricy if you start doing serious upgrades, just like the engine.

But truthfully, there is nothing you can't do or learn how to do on this if you have enough patients with it. What its worth in the end depends on a lot, personally I think one of the biggies is the paint job, specificly color. Making a buyer instantly think "wow!" can go a long ways.


Good luck with the project, couldn't of picked a better year ^_^ Everyone loves pictures if you have them!
 

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Oh, and be sure that while you're doing this to take A LOT OF PICTURES.

This is critical, absoultly critical. Take pictures of how everything already is together, where ever thing is bolted, how its all connected. Take a thousand pictures of every nook and crany. This is very important, it won't seem like it till you go to put it back together, but it makes a huge huge difference. I worked on my car every day till it was finished, no breaks, and I still forgot how some things went back. Pictures are a serious life savior, and you'll find the stuff you want pictures of, usually isn't anyhting you thought you'd need to take a picture of when you first started.... like window molding.
 

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Discussion Starter · #9 ·
Since the car is costing me nothing, I think I am going to try this with my son. I have a father and a father-in-law who know quite a bit about this sort of thing that could help me out in tough spots that are sure to arise. I will take a few pics this week of the car in its current state to give you guys a little better idea of it. We are currently looking a building our next house with a 3-car garage for the very reason of restoring a car. It just happens that the car came a little sooner (and cheaper) than I thought. Also, I have been to several mustang sites and this one is by far my favorite!! Please keep piling on the advice as I need all I can get.
 

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A couple of points:

(1) Current max value of your car restored to stock is about $10-12K. Nicely restomodded maybe $15-18K. You are going to be upside down in the car UNLESS you do ALL the labor yourself. That includes rebuilding the drivetrain, body/paint, etc. If you farm that stuff out you WILL be upside down financially.

Almost nobody on this forum worries about the "investment" value of their cars. We just make the cars like we want and don't worry about the value.

(2) Don't be surprised if your son has no interest in the car when he reaches driving age. I have a Shelby and a 73 convertible and my 8 and 10 year old sons couldn't care less about them.
 
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2) Don't be surprised if your son has no interest in the car when he reaches driving age. I have a Shelby and a 73 convertible and my 8 and 10 year old sons couldn't care less about them.
I was thinking the same thing. Rearing children is always a crap shoot. Besides bringing them up with values there is a fine line on how to direct their interests where it doesn't backfire on you.

You may decide you like working on 'the' car slowly over the years where-as your son may unconciously see it as dad likes the car more than me so he'll hate the car. Be careful and make sure he is involved no matter what his age and that he enjoys his time not only with the car but with you.
 

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Recently got our 67 on the road after a fairly extensive restomod, my teenage son and I did all the engine work ourselves and we loved every minute of it. We both learned alot together so that was pretty cool, me not telling him what to do. Into it for about 11K so far W/O paint, I'd do it again in a heartbeat.
 
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