[sleeton]

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

 

[mikec35]

Some rust usually turns into a lot of rust. Does it come from a state that has snow?

 

[Travis98146]

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.

 

[Knapper]

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.

 

[swooshdave]

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.

 

[1ofAMillion+]

...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.

 

[BlakeTX]

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.

 

[sixtysevenGTconv]

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

 

[Travis98146]

You're not buying that car for 1-2k.

No I wouldn't. I wouldn't pay $1,000 for it. Why? At my age I don't have the years or money to restore it (even though, as a retired professional automotive technician, I can do 80% of the labor needed).

 

[byteme]

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.

 

[Gibson68]

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

 

[Nextgen classics]

It sounds like you want to flip it? You also make it sound like you wouldn't pay more than 1k for it. Am I correct in these assumptions.