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The old "what do you think it's worth" question....I'm leaning one way but want some additional feedback on this before I make my final decision:

I own a driver condition 1970 Mustang convertible (all original 250/auto) for past 7 yrs...we love the car.

I just found a 1969 Mustang convertible, 302/auto (car was not advertised for sale)...and the owner turns out will sell the car but for 2900 (not a penny less)..codes show original black jade color, black top/int, PS, manual top & brakes.

It has a decent interior, workable body panels but really needs to be gone over, hood/deck lid have rust & bumpers dented, etc. Everything mechanical appears to be original (air cleaner/exhaust manifolds) it's a 2-owner car & has sat for 10yrs~ probably can get running with some minor fiddling...but the floor pans were replaced at 1x and not factory - there's no rot showing there & the frame rails look surprisingly good, too. The real issue appears to be inner rockers & the cheap sheet metal in place of the torque boxes....both doors are hitting (passenger side barely shutting at all) - body sag? I think I can get the torque/rockers & probably add sub-frame connectors by a friend for cheap $...and then start the basic driver-quality resto myself after that.

Is $2900 a good price for a car needing these repairs? There's not many 69/70 rag tops around me & this looks like a decent deal.

Any thoughts - good, bad, indifferent? Thanks in advance!!
Lastly, I uploaded a pic of this thing as I started to unearth it from 3 feet of New England snow -- I already feel invested at this point :)
 

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Since the floor was replaced and by your description, I would assume that the rust in the car is significant. If you're not prepared to replaced both inner rockers and torque boxes, you probably shouldn't buy it. If you're not afraid of sheet metal work (not insignificant by the sounds of it) then give it a go but don't believe you'll just fix this and that and get it on the road quickly. It will be a restoration after you go to the trouble of replacing the structural members... and as long as it's apart anyway... and those old parts look really crappy compared to the new ones so....

Also, you should check under the rear trunk carpet. I'll bet you'll find some rusted out trunk floor pans as well, as well and double-check the rear frame rails while you're back there.

Regarding price. I don't know, $2900 doesn't sound too bad for even a rusty vert in 2011. People will tell you they got theirs for free or $500 or even $1000 but you just don't see them for that price at eBay or Craigslist unless they're completely stripped practically to a bare shell and missing parts. Personally, if I were in a similar position, I'd consider $2900 an okay deal but I'd be figuring on at least another $10K to restore the car (paint, parts, etc).
 

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welcome aboard VMF!

Im with ^^^^ on this. imo for $2900 today you can barely get anything. your car complete 100% im guessing finished value about $12-15. so your buying for $2900 putting in 10K if not a little more for the unexpected and un seen stuff and youll break even but have a nice car once done.

for a 2 owner car if you have al the papers is a def +++++

if your not afraid of the work and can get some of the heavy stuff done on the cheap id go for it but remember once you get the beast home there will be 100 other things you didnt figureon that will need replacing.

Have you checked the top hydrolyics? is the motor holding a leak down check.
will it turn over. have you checked the rad, the rear, gas tank rotted and on and on.

if your serious run a marti report on it and see waht it comes back as
 

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Discussion Starter #4
Thanks guys for the quick & helpful feedback!
It didn't have any rust in the trunk - I was shocked. The dropoffs & everything were clean. The rear rails & the back piece where they attach + spring perches were all solid.
It's a manual top car - so no hyrd/motor to worry about.
I did open the top & drop it back down...driver side pin didn't drop in cleanly (due to that body sag?)

The old saying for old cars & rust is...."what you see TIMES 3" :) I expect there will be more work here but it was running/driving car all it's life until 2002. That's when the cancer must have really taken hold. I was told by the owner it had that "light resto" in 1995...but it wasn't a pro job from the looks of the pans & torque boxes :(
 

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Good deal on the trunk! The car might still have a serious cowl problem. Check out Sven's blog on his adventures in restoring his 70 Boss featuring a recent cowl replacement. It might also give you ideas of what else to look for.

1970 Boss 302 Restoration
 

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You know that the asking price is probably in the ballpark. You've already checked the car out, done some research and have a pretty good idea of what all it needs. You already know you'll be upside down on the restoration cost even if they give it to you, yet you are still torn. Little soul-searching here - will you enjoy this project more for the hobby of doing restoration work and seeing the phoenix rise from the ashes or are you more anxious to have this particular kind of car to drive once its finished? I always love to flip through those photo albums at car shows that start with a picture of an unidentifiable hulk in field with a tree growing up through the empty engine bay (like your buried in snow picture) and that may be your motivation, but if you mainly want to drive the end result (you say driver quality restoration), you may be money and time ahead to widen your search and buy a similar car that's already running and driving to start with. Just food for thought.
 

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If the car is sagging in the middle then pass on it. You are looking at replacing everything between the firewall and rear seat. Ask me how I know.
 

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I think it's a deal if and only if you or your friend(for a cheap price) can replace the inner rockers,torque boxes and floors ,If you have to pay a "pro" to do the work all bets are off. I figure about $300-$600 for those parts,if they were installed properly . I would say the car would be worth double the asking price. Personally having done several convertible rocker jobs I'd pounce on it.

P.S. Obviously the car will need more stuff (don't they all? ) but all of that beautiful(not/ yuck.....I'm done with this winter stuff) northeast snow is covering it in the picture. Man spring can't come soon enough.
 

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I couldn't imagine having to dig a car out of 3ft of snow to inspect it. Hope you were able to get a good impression before you had a brain freeze. All joking aside, if your friend can do the metal work for little or nothing than I would do it. If you are paying a little under shop costs for it, I would pass. Major builds like this one can eat up a check book. Plus, if you want it back on the road soon and can't do the work yourself you will spend more out of pure impatience. Sounds like you have the right mindset, it just depens on how much you can pay someone to have work done.
 

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My queston is, are you looking to replace the '69 you currently have because you want a V8 car? Or do you just want a second car? If you just want a V8 car, do a conversion on yours.
But for a bodyman, or a restorer that can do all of his own work and realizes that it is a labor of love and not an investment, that's an OK price. But if you have to pay someone else to do everything, it is going to fast become a money pit.
 

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Discussion Starter #11
Thanks for the added feedback everyone.
Yea, I'm leaning on grabbing it - I think I can't lose anything ($) if I don't do anything with it....sounds like it's at least worth it in it's current shape.
My buddy wants $250/side to do inner rockers & torque boxes...I think I'll do sub-frame connectors as well to stiffen it up. With the sheetmetal - I should be into the car for around $4000 - but the doors might shut :)

It's an original motor/tranny car w/ 130,000 miles & cool color combo (Black Jade/blk/blk).
I am keeping my 70 vert - the 250 is pretty tame in that but it's a great driver & I have no intentions of doing a V8 swap there -- although I do have a 1970 351W std bore sitting on the garage floor (hmmm)..

But I have a spot in my other garage & think this could be a fun project. Having the '70 might take the burden of rushing the job, too? I mean I can use that car as a template when looking for parts/how things go together...I'm not a professional & know that I can't do the structural stuff on my own - the expectation is to make a driver - not show car.
 

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oh yea....one more thing I forgot to mention when I checked this car out!
The seat supports looked good - but the hacks who did the "floor fixing" didn't reinstall the lower reinforcement plate that bolts to the seat supports. I know that's needed for structural integrity on ragtops -- how much of a role does that play, if any in the body sag as I'm guessing there hasn't been a plate in place in like 15-20 years!?!
 

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$250 per side is a bargain, assuming they are done right.I would also factor in some floor pieces with that,it's tough to do rockers and boxes without cutting the floors. The piece that bolts to the bottom of the seat boxes does add structure but not enough to make the car not sag. The car is sagging because of the boxes and rails.
 
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