Looking for advice on buying my first classic!

1273 Views 30 Replies 25 Participants Last post by Woodchuck, 12 d ago

Donlon101

Discussion Starter · 23 d ago

New to the forum!

I've been offered to buy a friend's car that I know has been well taken care of. It's a 1966 289 2 barrel with original factory air conditioning, recently rebuilt engine and transmission, and 3 owners. To my knowledge this is not a numbers matching car but it has minimal rust. Its not a show car by any means but im looking for a driver anyways. I have not seen it in person yet but plan to go with a friend that's owned a couple of these over the years and can help me assess the condition.

I've read up on some of the things to check on this first generation but wanted to make sure I have a complete checklist so any advice is appreciated. Additionally, any advice on market value would be good to know. Seller is asking for 30k and given the relationship I have no interest in negotiating (more of a take it or leave it situation).

Looking forward to joining the community soon, if not with this one than another!

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JBOB

· #2 · 23 d ago

Look under the dash for any signs of water intrusion . Rusted cowls are common and a chore to fix.

Woodchuck

· #3 · 23 d ago

Donlon101 said:
New to the forum!

I've been offered to buy a friend's car that I know has been well taken care of. It's a 1966 289 2 barrel with original factory air conditioning, recently rebuilt engine and transmission, and 3 owners. To my knowledge this is not a numbers matching car but it has minimal rust. Its not a show car by any means but im looking for a driver anyways. I have not seen it in person yet but plan to go with a friend that's owned a couple of these over the years and can help me assess the condition.

I've read up on some of the things to check on this first generation but wanted to make sure I have a complete checklist so any advice is appreciated. Additionally, any advice on market value would be good to know. Seller is asking for 30k and given the relationship I have no interest in negotiating (more of a take it or leave it situation).

Looking forward to joining the community soon, if not with this one than another! View attachment 895659

The best advice I can give is have someone who knows vintage Mustangs (not just somebody who SAYS they know vintage Mustangs) who is not invested in the prospective purchase in any way go with you to look at the car. In the end, a "fair price" is what you'll be willing to pay and that will depend on how badly you want that particular car. Don't expect to end up with a car with a "real world value" near what you're going to pay unless you "make the seller an offer he can't refuse....".... The market is "hot" right now and it's a "sellers market".

Reactions: 1

66sprint200

· #4 · 23 d ago (Edited)

IMO, for $30K a hardtop should be a very nice show car with no issues.

Reactions: 5

Roddster

· #5 · 23 d ago

First off. That car in the picture is nice. But I'm not sure it's 30K nice. Plus, as you said, it has rust issues. 30K can get you a fastback.
Go to Ebay and look at what the asking prices are. Some are very optimistic (way over valued), some are a good value, some are long forgotten projects. See what is there for an idea.

chillininnh

· #6 · 23 d ago

66sprint200 said:
IMO, for $30K a hardtop should be a very nice show car with no issues.

Yup. 30K is ALL the money and then some for that car. I'd keep looking.

AZ_Ryan

· #7 · 23 d ago

Rust is always enemy number 1. Look under the car at the frame rails and floor pans. Look under the doors and inside the wheel wells. Any bubbling in the paint is a huge red flag. Lastly, do a cowl test. Pour water down the cowl vents at the base of the windshield and look under the dash for leaks. If you see water leaking inside you have a rusted out cowl which is a VERY expensive repair and probably means you have other rusted areas.

Its hard to say based on your discription, but 30k should get you a show quality coupe with no rust. So even in a sellers market the price strikes me as high. That said it does look and sound like a quality driver depending on what you interpret as "minimal rust'. It would be helpful if you posted a few more pictures. 👍🏻

zray

· #8 · 23 d ago

Look at some other similar cars first.

The worst thing a car buyer can do is buy the first car they look at. Educate yourself about the market first.

The “chase” may not be the best aspect of the hunt, but it’s darn close.

Secondly, expand your search. It’s easy to find great deals if one is willing to look over the local horizons.

Z

Reactions: 2

BSC232

· #9 · 23 d ago

Check out Maple Motors, they have a few listed right now for under $30,000 and one or two under $20,000, from what I have seen their pricing seems to be fair on most cars they sell. I agree that the car is worth what you are willing to pay, but I wouldn't pay more than $17,000 or so for that coupe personally.

Donlon101

Discussion Starter · #10 · 23 d ago

Thanks all for the replies! I think you are all confirming my initial thoughts on the value being a bit high for a hard top. I'll probably pass on this one and keep looking. Thanks for the recommendation of maple motors!

Reactions: 1

jjfish

· #11 · 23 d ago

Hard to give opinions based on one photo. You indicate there is rust. Generally a little rust mean a lot of rust.

Reactions: 1

richardsimon52

· #12 · 23 d ago

Couple of thoughts...I would still go look at the car, even though the price seems to be on the high side. Never hurts to look. Second, I wouldn't be afraid to make an offer below asking price. What would you think if he accepted someone else's offer much below his ask , after you hesitated to make an offer. Personally if the car is very clean, I would think the low to mid 20's would be ballpark, given the recent engine and trans rebuild.

Reactions: 1

Arto Sevan Oksayan

· #13 · 23 d ago

When I first purchased my 1968 Ford Mustang Coupe, I did not know anything about classic cars, I was just looking at the overall physical image of the car, and here in Turkey it is not very easy to find a classic with a good condition, anyway because of that I took a mechanic guy with me while checking the good candidates, while I was driving to a certain location to see a car, suddenly I saw a British racing green Mustang in another mechanic but this is all coincidence I rushed to the guy and tried to get information about the car, I asked the mechanic if the owner is willing to sell the car, he said yes from time to time he is thinking, then I asked the mechanic to call him, and then I talked with him on the phone for half an hour, and one thing led to another and he decided to sell the car to me, I asked him that I want to take the car to a lift to see the under with my mechanic and we did there was very little rust at the floor panels, we thought that, it was ok an easy fix but let me tell you straight away I learned the hard way it was a rust bucket, and eventually changed all the body panels except the roof panel of course some of the parts I had to change because you come to a decision point where you think I changed X Y but in this case it would be better if I also change Z you know what I mean, I will share the first picture of my car back in 2008 during disassembly and finished restoration in 2012

) if you really like this car then please check it with a body shop a it was mentioned before a little rust means lots of rust. I am not writing to discourage you but to be very cautious about rust in a classic car.

Back in 2008

After I finished restoration in 2012

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Miging65

· #14 · 23 d ago

Going by only the picture - the first thing that would get my attention would be the lack of the front fender emblem. Just saying that would start a path of questions. I would definitely be looking hard at the VIN.

Blues Power

· #15 · 23 d ago

Mine may be going on the chopping block.
Need to get out of this hobby
Pm me if interested

Fly2xs

· #16 · 23 d ago

Buy the car you want, if it is a convertible, fastback, another coupe a different year or color etc etc......don't buy it, be patient and buy something that you want and not say a year down the road, I wish I had of.... What is the VIN of the car? Is it a factory 6 or 8? What is it now? IMHO....30 for a coupe, that is on the high side for me, it better be perfect, zero rust, not a 6 cylinder VIN with a V8 in it now. Tap it for Bondo. I am sure it is garaged by the looks, but the cowls.....does the owner have any pictures or documented history if they were repaired correctly or just a hat put in them. Put the car on a lift and look at the undercarriage....again 30 for a coupe it better be perfect. Agree with Richardsimon52 above.......mid 20's if it is a factory V8, very well done with options. These days, dealing with Craigslist and Facebook there are a lot of window shoppers......if you are serious, look it it, do not discuss price, show back up with that you are willing to pay in cash.........money talks.

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Nuccten

· #17 · 22 d ago

Bring a magnet when you look at the car. Place it on the bottom of the fenders and doors, the most obvious place where they rust. The prices does seem a tad on the high side. I'm always wary of sellers who price their things at "take or leave it".

twinpipe67

· #18 · 20 d ago

Donlon101 said:
New to the forum!

I've been offered to buy a friend's car that I know has been well taken care of. It's a 1966 289 2 barrel with original factory air conditioning, recently rebuilt engine and transmission, and 3 owners. To my knowledge this is not a numbers matching car but it has minimal rust. Its not a show car by any means but im looking for a driver anyways. I have not seen it in person yet but plan to go with a friend that's owned a couple of these over the years and can help me assess the condition.

I've read up on some of the things to check on this first generation but wanted to make sure I have a complete checklist so any advice is appreciated. Additionally, any advice on market value would be good to know. Seller is asking for 30k and given the relationship I have no interest in negotiating (more of a take it or leave it situation).

Looking forward to joining the community soon, if not with this one than another! View attachment 895659

good luck, be picky/have a list of checkpoints, and bring your checkbook

DIHLON

· #19 · 20 d ago

Blues Power said:
Mine may be going on the chopping block.
Need to get out of this hobby
Pm me if interested

You interested in selling your 93?

sotexyellow

· #20 · 20 d ago

Patience & knowledge, the ability to make a decision and not overly regret it.

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