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Well, I've been a Tbird owner for 30 years, a Mustang owner for 2 years, and I must admit that I fell in love with the Stang I bought hoping that it would be a father and son project. Turned out to be a father only project and have come to realize it was never really a practical car for a teenager (up here in the Midwest). You can't, or would be a fool to drive a classic in the winter, and they're a high maintenance car -- although easier to work on than newer cars.

Although I like the 66 coupe, and the body is in good shape, and the engine and tranny have been rebuilt along with a complete ne front-end, I have the notorious cowl leaks, rusted out left shock tower, and possibly bad frame rails. Common problems, but none I know how to deal with personally -- mechanics I got down pat, but welding is beyond my expertise. The PO obviously cared more about appearance than structural integrity and I was new to the Mustang world and thought every old car was as pampered as my Tbird (never seen a midwest winter). Not so.

The dilema, to sell the car, walk away with what I can and buy a truly rust free Stang, or put this current baby through a more thorough restoration? Since I would need to farm this work out should I keep the car, how much should I expect to pay, and in which order should the work be done? I was going to do the cowls, until I got a good look at the rear frame rails, now I'm not sure.

I use the car now as a "sunny day" driver and it rides sound, yet I have a different feeling about it now after seeing that rust.

What would YOU do? Sell, or restore?
 
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I think the reigning wisdom is that it's almost always cheaper to buy a car that has already been restored, as most people don't get out of them what they put in. This goes for your project as well - although the cash may be spread out over many many years, you're still fiscally better off buying something a bit more solid.
 

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What you have is going to be expensive unless you do it yourself. Selling your car and aquiring a better one may be the best strategy for you. Be careful when doing this or you can get the same kind of problem you now have...most all midwest unrestored Mustangs look like yours. Suggest you study the options and compare costs. Restoring yours is going to be expensive. A full restoration of yours with you doing all mechanical work is likely to be $15K or more.
 
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