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I bought a pair of mustangs I really only wanted one but the owner was selling them as a pair. The one that I did not want does not have a engien or a trans. It had been set up for a 289 but the vin calls for a six cylinder. The frount drums have the 6 cylinder 4 lugs but the back has 5 lugs. The body is nice and the enterior is restorible. If I deside to restore the car, I will want to put a 289 back in it. What am I looking at? Is it a total mess? I realy would like a fastback not a coup. I would sell it shortly after restoration so... should I sell it now and let someone else try and restore it? Or should I try to restore it? Will I loose money on a deal like that? If I restore it what am looking at doing? Thanks.
Seth
 
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Generally, you will lose money on a restoration.

If you want the car, there is no reason not to keep it. The V-8 changeover is partially done by having a 5 lug rear end in the car. You would need to change out the light weight front steering and suspension parts to the heavier V-8 stuff. (but the stuff under there is worn out anyway, so even if it was V-8 stuff, you would be replacing it anyway). You can also upgrade to front disk brakes from a late '70's Granada for cheap.

If you don't want a coupe, sell it. You will be money ahead.
 

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Do not restore the car if your plan is to sell it immediately afterwards. At best, you'll get back 1/2 of what you put in, and probably much less.

Sell it, and use the money to fix up the one you want.

And, Seth, if you want to save the MOST money, sell 'em both and buy an already restored Mustang. Restoration (on Mustangs, at least) is a hobby for people who enjoy working on cars, not for those who want to make money.

Steve
 

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I agree with others. Do not start restoring a car you don't plan to keep for a long time. You'll lose money big time! Example: if you bought the pair for $2,500 and you find you can only sell them for $1000, you're still money ahead by not restoring either of them. Restoring cars is a real money pit so be sure you want the end results (badly)!
 

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I agree with the others most of the time. A lot depends on how complete the car is, and what the initial price of the car was. Here's a few examples from my experiences:

Two years ago, I bought my daughter's '69 coupe for $1500. I put about $1500 into and could easily get $6000 for it now ... an easy profit, but the car was very complete, just needed many, many small things and paint.

3 years ago, I bought my '66 coupe for $500 ... total basket case, but a rust free one. I'd be lucky to get $8k for it and I have at least 3 times that in it now.

1 year ago, I bought my son's '65 for $200 ... rust bucket basket case. I've got about $7k in it and could probably break even on it.
 

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I can't agree anymore. I just bought a 65 mustang to restore and the cost of parts looks cheap but add them up and you'll be opening up your own garage sale for extra money. I plan to keep my car for a long time. I won't even put a for sale sign in it once it is done. If someone offers me a good price for it then we will be driving to the bank. I then will be calling a cab for a ride home.
Watch out also for the rear hanger brackets for the tail pipe and most importantly take a look at the position of the rear brake line. You way have to move it to keep it away from the exhaust since your car was set up for a single exhaust system.
Best of Luck to you. What year is the car anyways??
 

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I'll chime in also. IF you could spruce up these project cars a bit, by carefully spending money on parts that would net the biggest return, maybe. For example, if you replaced the front suspension, you may be able to accomplish that for under $1000. The car would be ready for a V8 with a brand new suspension. Some detailing elsewhere might also help contribute towards a net gain when you sell the "engine ready" car. You may be able to pull something like that off if you are carefull and watch your P's and Q's.

Then again, I agree with the other posters. If you want a restoration car, get the one you want intially because you will invest a lot of money in the restoration job. Good luck.
 
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