Vintage Mustang Forums banner
  • Hey everyone! Enter your ride HERE to be a part of this month's Ride of the Month Challenge!

1 - 12 of 12 Posts

·
Registered
Joined
·
926 Posts
Discussion Starter #1
A person has offered me a 67 Convertible GT with a 390 in it. The owner has a Marti report for the car. Car does not run and it will need paint and the interior re-upholstered. It will need some floor patch work and it will need some inner rocker repair and some repair to the rear frame rails. Unfortunately I do not have pics of the car at this time. What should I pay for this car?

Thanks
 

·
Registered
Joined
·
1,200 Posts
Some rust usually turns into a lot of rust. Does it come from a state that has snow?
 

·
Registered
Joined
·
1,404 Posts
If you figure a few thousand for a paint job, another few thousand for an interior, another few thousand for floor/rocker panel repair, another thousand or so for the frame rail repair plus another thousand (minimum) for engine work, you're looking at buying it for about 1-2,000. You may end up with a good deal or find you'll need to put a lot into the car.
 

·
Premium Member
Joined
·
1,280 Posts
I would think a fully restored S Code GT convertible could fetch you around $40-50k, maybe more depending on other options. Work backward from there, factoring in the costs to get it restored from its current state.
 

·
Registered
1967 Convertible
Joined
·
676 Posts
If you figure a few thousand for a paint job, another few thousand for an interior, another few thousand for floor/rocker panel repair, another thousand or so for the frame rail repair plus another thousand (minimum) for engine work, you're looking at buying it for about 1-2,000. You may end up with a good deal or find you'll need to put a lot into the car.
You're not buying that car for 1-2k.
 

·
Registered
Joined
·
5,629 Posts
...and 500+ hours of work and countless hours of planning and worry later? Those few thousand here and there end up being $5K licks each time.
I'm thinking around $10K for a good color/options maybe a bit more depending on whats salvageable, any less might fall into the bargain category IMHO.
 

·
Dimples
Joined
·
5,666 Posts
Without pics, it’s hard to guess. If it’s a factory S code GT though, it should be worth saving.

Many of us have spent the same time and money on a car with a lot less potential.
 

·
Registered
Joined
·
5,964 Posts
Need more answers:
is it a factory 4 spd or an automatic? Note a factory 4 spd GT will have a tach and disc brakes.
standard interior or deluxe?
All parts there?
assume a new top?
engine orig?

I own a '67 vert, factory 390 4 spd GT. Marti report and "buck tag".
VERY few every made, 940 390 4 spd verts.
I restored mine to very nice mostly all orig, added few options, and it's been valued ~ $70-80k. I'd be the first to say mine not "perfect". But I drive it!!! Gets a 10% price boost just for a 4 spd.
https://www.hagerty.com/apps/valuationtools/1967-Ford-Mustang-GT?id=43477

As long as rust repairs are not very extensive, that documented vert as is I'd say $12-18k, if a factory 390 & GT & 4 spd
 

Attachments

·
Registered
Joined
·
330 Posts
From your description, I expect one would burn through the better part of $35K to bring that car back to really nice driver condition. If you have the resources to achieve that result, and can control scope creep, I would say you might break even with a $15K purchase.
In the vintage Mercedes world, I have heard the phrase " The most expensive Mercedes to own is the one that can be bought for a cheap price". There are some similarities in the vintage Mustang world, especially if your goal is to achieve a high standard of quality when done.
 

·
Registered
Joined
·
280 Posts
I purchased a similar car a few years back from a guys backyard 67k original miles(nearly rust free) but taken apart and non # matching: 390 4 spd GT, accapolco blue, deluxe interior, white top w/glass, factory am/fm radio, per Marti report. I paid north of $6k for mine
 
1 - 12 of 12 Posts
Top