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My dad and i bought a 1966 mustang coupe for 6500..its in good shape with no rust and we are restoring it right now. We are going to get the 289 pushing about 350 hp, disk brakes, new 17" chrome torq thrust wheels, paint it completely top to bottom, put new carpet in, fix stereo, new gas tank , all new weatherstripping, and a few other minor things and was wondering how much we could get for it when its all done. I have added up all the costs and it puts me at about 15,500 and was wondering if there is any room for a good profit? i know there is a lot of factors that go along with it and you have to find the right buyer but whats the average a completely redone coupe will go for?
 

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Probably less than that. I hope you're not planning to turn this over for a profit. Do it for the fun, for bonding, for shared experience. Don't expect to make money, or half the country would have a Mustang up on blocks in the garage, surrounded by tools.
 

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The finished car would be lucky to break $10K in my area. I know one for sale similar to that. I think (can't remember exactly) he is asking $6500 and it's been sitting for the last 3 weeks. Brand new paint, cleaned up interior. Not as nice a motor, but close. It's got a mild 302 in it.
 

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^^^ what 22gt said.

I know some people balk at nada, but when I was looking for my car, they were pretty spot on. Plug in your car here and see what it would go for. But yeah, you're in the wrong hobby if you're looking to make money.

Nada guides
 

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Probably less than that. I hope you're not planning to turn this over for a profit. Do it for the fun, for bonding, for shared experience. Don't expect to make money, or half the country would have a Mustang up on blocks in the garage, surrounded by tools.
Agreed. I'm working on mine by myself, and having a blast learning how to work on the car. I know I'll never get back out of it what I'm putting into it. But you have to look at it this way. When you pay to get into Disney, you're not hoping to sell the ticket to someone else on your way out for a profit. You're paying to have fun. So just go have fun and enjoy yourself.:pirate:
 

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Agreed with 22GT as well (as always). I've got my car because I wanted to learn to work on cars and I wanted a really sweet daily driver that I could fix myself... not because I thought I could make money on it.

I think the only time people make money on these old Mustangs is when they find them in really good, preserved condition in a barn... :lol:
 

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Money is usually made on the buying of the car at a good price.

Sounds like a nice car though. Do it for yourself and enjoy it without worrying about the money.
 

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Aircraft are about the only thing you can restore and almost always make a profit on.
I doubled my money on my helicopter if you don't count my 1000 hours of labor.
I DID get to fly it for 6 years though for free.
BEFORE

AFTER

 

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Unless the fifth digit of the vin is a K $15k is a stretch for a coupe these days,it seems at least around here I see beautiful coupes in the $12k range. I'd build it the way you want it,keep it and enjoy it.
 

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Like the others have said, it's all about enjoying the trip. Most restorers do it because they want the end product. They cannot afford to purchase a completed car so they use their labor as payments and hope to end up with something they are proud of.

Personally I don't think even Barrett Jackson could get $15,000 + for a hobbyist restored coupe. If you're in it for the money you'd have a slightly better shot at it if you had a fastback, 2+2, sports roof, whatever you care to call them.
 
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