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Discussion Starter #1 (Edited)
Ok I’m going to try and make this very loaded question alittle less loaded.

Right now I’m a college student on a hard budget. Makes things difficult. I’ve heard so many say they wish they dropped the cash on this or that instead of cheaping out. I want to know where I can cheap out and where I can’t. Yeah mostly opinions but I want to hear what you guys have to say.

As a disclaimer I already know I’m spending some money on safety mods like front discs and 3 point belts.

I have a 1970 mustang, 5.0 ho engine out of a 1991 thunderbird (80k miles), C4 trans(no idea if it’s good), and a 8 inch diff (probably the stock gears)
Oh and stock driveshaft.
And all this is just sitting out of the car don’t know if anything works or even if the engine runs.

Placing priority on these mechanical aspects what would you do in my situation to have a fun daily driver on a budget?
 

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5.0 ho engine out of a 1991 firebird (80k miles)?????
 
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If your a college student on a budget run away from this mustang as it will be a huge money pit! Buy a used Fiesta or the like, get a degree and a job and buy one restored.
 

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68 Mustang Coupe
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Putting a GM engine in a mustang is going to be a money pit. You'll need an adapter or a new tranny. Find a 5.0 out of a ford and youll be much better moneywise.
 
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Discussion Starter #8 (Edited)
If your a college student on a budget run away from this mustang as it will be a huge money pit! Buy a used Fiesta or the like, get a degree and a job and buy one restored.
Well it’s not as tight as it sounds i I have access to tools and equipment and have ALOT of time on my hands and I absolutely refuse to buy a car restored or otherwise mentioned fiesta...

Also I am getting a degree, hence me college student. Engineering at that. ;)

I got my AA finished well before I finished high school. That means I have some time to do some prerequisite courses like calculus 1 thru 3 with analytic geo, Stuff like that, From a local college. I do have a job and make some money so I decided with all this free time to do this project. It was that or video games and I hate video games.
 

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Discussion Starter #10
Unless you can work on it yourself, forget about it. These are 50 year old cars that break A LOT.
Oh I’m doing everything myself. Should have stated that before. I can do body work and I can learn a lot of the other “stuff” for lack of a better term.

So disregarding everything else involved in a restoration what would you do with the parts I mentioned on a budget?
 

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IMO you can forgo the disc brakes, unless your racing the car drums will stop it just as quick. 3 point belts are a great addition and should be a fairly straight forward install. Do you have a carb and carb intake for this motor? Gonna need a distributor as well as oil pan and pick up tube.
 
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Well it’s not as tight as it sounds i I have access to tools and equipment and have ALOT of time on my hands and I absolutely refuse to buy a car restored or otherwise mentioned fiesta...
'ALOT of time on my hands' and 'College student' don't quite go together. Most kids are working to try to pay off college, or if they don't have time to work it's because they're studying.

If I were you I would store the car until you've graduated and got a career and start making a stable income. Why spend that money on the car right now when it could be spent paying down your loans while you're still in college? I already had half my college debt paid for when I graduated. I paid the rest of it off in a few years, and then started restoring my 67.
 

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In my admittedly limited experience any classic car is a money pit. Either a bunch up front to get something solid someone else has done or a bunch on the back end to do this and that (and the this and that which that necessitates and so on and so on).

It's totally worth it if you have the time and / or money, but honestly if I were in your shoes and looking for an inexpensive fun driver (that I could also do some motorsports with) I'd probably be looking at an older Miata and saving for a down payment on a house with a nice garage.
 

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'ALOT of time on my hands' and 'College student' don't quite go together. Most kids are working to try to pay off college, or if they don't have time to work it's because they're studying.

If I were you I would store the car until you've graduated and got a career and start making a stable income. Why spend that money on the car right now when it could be spent paying down your loans while you're still in college? I already had half my college debt paid for when I graduated. I paid the rest of it off in a few years, and then started restoring my 67.
Or better yet find a company that has tuition assistance, last I checked even Mcdonalds offered it.
 

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Discussion Starter #15
IMO you can forgo the disc brakes, unless your racing the car drums will stop it just as quick. 3 point belts are a great addition and should be a fairly straight forward install. Do you have a carb and carb intake for this motor? Gonna need a distributor as well as oil pan and pick up tube.
Ok that interesting.

Yes I have an Edelbrock intake. The guy gave it too me with the engine. No carb but I have friends with 20 volleys just sitting who would sell one to me for cheap. It’s got an oil pan but it’s dented so I think I should get a new one. And the Distributer is probably good
 

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Is there a pull a part salvage yard in your area? They can sometimes be a great place to pick up parts on the cheap. I know the ones I used to go to had cars old and new with great prices.
 
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Ok that interesting.

Yes I have an Edelbrock intake. The guy gave it too me with the engine. No carb but I have friends with 20 volleys just sitting who would sell one to me for cheap. It’s got an oil pan but it’s dented so I think I should get a new one. And the Distributer is probably good
The oil pan will be a rear sump and wont work in the mustang, and the distributor isnt going to work without the fuel injection computer. Also unless you plan on running the serpentine belt system you will need pulleys, alternator water pump, timing chain cover for a standard rotation water pump, fuel pump and, and fuel pump eccentric.
 
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Discussion Starter #19
'ALOT of time on my hands' and 'College student' don't quite go together. Most kids are working to try to pay off college, or if they don't have time to work it's because they're studying.

If I were you I would store the car until you've graduated and got a career and start making a stable income. Why spend that money on the car right now when it could be spent paying down your loans while you're still in college? I already had half my college debt paid for when I graduated. I paid the rest of it off in a few years, and then started restoring my 67.
Wow you like making assumptions. I don’t have any debt and I have straight A’s, I’m in the honors program too. What part of “I got my AA before I graduated high school” not click with you? That’s 60 credit hours completely free. Right now I’m 2 years ahead of 90% of students and have a measly 9 credit hours a semester of admittedly hard classes but they are dirt cheap because I chose to go to a local in state college. Unlike some kids who go to 40k a year schools.

why did you make so many assumptions off so little info??
 

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Youll need exhaust manifolds/headers as well. The ones from the t-bird wont work.
 
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