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I posted a few days ago for some help on a potential purchase of a 69 Mustang, and you all came thru with some great info. Here is what I found out....
It is a 70, not a 69, it is an "F" code 302, and I looked specifically at the pedals and so forth to determine if it is a 38k car. Hard to tell, as the car has been outside of the garage for several years, so the chrome was pitted on the door handles, front bumper, rear tailights. It was also reapinted 1 time (original red it appears) but not good..I found overspray, and it had a "thick" appearance. Did not look like too many options, other than rear louvers/wing. The interior was black and decent, but not what I would call indicative of a 38k mile car...some sun fading, some worn chrome on the shifter handle, and knobs and controls. Other than that, it was rust-free and strait, with the exception of some bubbling around the rear windows and drip rails. I think I could nab it for 6k, but I may be better off waiting on one that is more to my standards...I may pay more, but in the long run put out less. It looks like itmay be one of those nickel-dimes after I brought it home. Now, if I had some spare 'Stang parts laying around..
Thanks again!
Bob
 

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Now, if I had some spare 'Stang parts laying around..
Heh heh, be careful what you wish for... ;)
You`ll be needing to build a shed/garage just for spares if you`re not careful ::
 

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I would really check out the underneath areas for more rust since you indicate there is already rust by the rear windows etc.

Where are you located?
Fill out you bio

Here are some problem areas to check out on a 69 fastback:
Top of fender aprons, holes cut in shock towers, torque boxes, floors, trunk drop offs, taillight panels, frame rails, pitted chrome and any rips or tears in the interior.
How is the car documented to have 38K on it? Just the speedo that says 38K? Easily could have 138 or 238K. The thick paint could be hiding all sorts of problems. Take a magnet and see if it will stay on the car.
Can you tell if the hoses, wires, etc are original or not?
If it's a northern salt area car then I would be leary about the rust free part and go over it very carefully. The rust repair around the window could get pricey to fix depending on what else is damaged that you can't see.

Mags can indicate it was driven hard

Find a VMF'er in your area and take him with you is probably the best thing to do or find a local Mustang club and see if anyone would help you out by looking it at with you.
 

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It's sooo easy for the 15th owner to just say "the ODO has 37K on it". Unless the condition of the car warrants you to believe that, then add 100000K or even 2000000K.
Look, cars with mileage that low don't just get "left outside" so moms old dining room table can sit in the garage.
None the less, IF it is that rust free, $6000 ain't bad.
 

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add 2 billion miles? hrm, don't know about that.... ;) ::

He's right though- with classics the mileage is usualy just a meaningless number, since the cars are so old. you have to go by the condition of the car... ie how much rust is on it, etc. i would rather have a 300,000 car that has had all the rust taken care of and a rebuilt drive train than a 75,000 car that burns oil and has the quarters flapping in the wind. Do some searching on this forum for how to find teh rust on these cars. they all pretty much rust out in the same places, so with a bit of detective work, you can easily tell what kind of shape the car is in. the interior is not that big of a deal as it can be sprused up easily. that goes for the door handles, bumpers, etc too. main thing you are after is a soild body to work from. talk to some of the guys that are up to their eyeballs in rust repar and they'll tell you the same thing.

good luck

- Jason
 
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