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Discussion Starter #1
Hi all,

I have always loved the fastback look of the classic mustang and now I am looking for a project. I have a good amount of experience working on (mostly modern) cars and custom fabrication (mostly turbo parts). Now I would like to take a stab at restoring a old classic.

I have purchased a handful of books on repair and restoration of these cars and have been looking at ebay/cl in the chicago area.I would like to start working on a budget and project plan but I have a hard time trying to figure out initial prices of cars.

The general idea is that this would be a restomod, mostly stock looking and a good amount of performance. I am not a body man, however the idea of replacing various sheet metal isn't foreign to me. I have good amount of tools from hand tools to MIG, TIG, plasma to CNC equip of necessary.

In any case, I would like some feedback on car values specifically I was looking at 2 ads on CL
https://chicago.craigslist.org/chc/cto/d/mustangs/6326999574.html

65 fastback, non matching #, swapped engine(used to be a v6), overall looks like a good candidate, most of the parts look to be there, supposedly little rust but 12k does seem fairly high.

https://milwaukee.craigslist.org/cto/d/1965-ford-mustang-fastback/6322854806.html
Another 65, numbers matching, Needs a ton of metal work, torque boxes, frame rails, floors, probably fenders etc. Price-wise its closer to what I would like to pay but the missing parts will add up quick is my guess. It's also 2h away from chicago which adds to the cost.

Another question I had was around the color, it seems non OEM colors are usually not desired from the resale perspective. How about color changes to another OEM color, i.e. red to black/gray.

Let me know what you guys think. Thanks in advance.
Tom
 

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Welcome to VMF.
The MKE car is definitely a rustbucket and the ORD one probably as well. Look at all of the poor panel alignment on the ORD car. He probably shot a coat of Resale Red on it to try to hide the flaws.
Either of these cars will be a money losing proposition if you try to resell after repairing. Even if you don't count your labor as a cost, just the parts alone will cost more than the car will be worth when finished.
And no such thing as a "numbers matching" Mustang unless it is a "K code" (289 HiPo engine). So don't worry about that when trying to resell. And the "T code" engine was an I6, not V6.
 

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Unfortunately, it's getting hard to find a decent project car these days. Seems everything is completely restored or a complete rust bucket; not much in-between. I agree about that red, 65 fastback likely being a complete rust bucket. But you don't know until you inspect it.

Based on what you've posted, here are my suggestions:

- Take your time to find a car with as little rust as possible. There are always lots of rusty Mustang around, so don't worry about passing up on those cars. Plenty more where they came from.

- It's worth it to search far and wide to a car with little rust. Figure out a way to get a truck and trailer if you can. Drive hundreds of miles if you have to. It will be worth it.

- Personally, I think acceptable rust would be floor pans, small areas of quarter panels, trunk pans and fender aprons. (It's pretty much a given the battery tray will be toast on most any old Mustang.) That stuff is pretty easy and inexpensive to repair yourself.

- What I would not recommend is buying a car with rusted frame rails, torque boxes (if equipped), rockers or roof. Those repairs are pretty involved and more expensive.

- Try to buy a complete car rather than a stripped Mustang. It's difficult and crazy expensive to procure all the little parts required to assemble a Mustang. While most parts are reproduced, the quality is hit or miss and, again, these parts add up fast. It's getting extremely difficult to find nice, original Mustang parts and, when you do find them, they are very expensive.

- Don't worry too much about drive train. If you find a nice, clean car that's mostly complete, but missing the engine and transmission, I wouldn't hesitate to buy it if the price is reasonable. You can find a rebuildable engine and transmission most anywhere. There's really no "numbers matching" issue with a classic Mustang unless it's a Shelby, Boss or K-code. Otherwise, any period correct block is fine. Even a newer engine is really no big deal for a restomod. Shoot, lots of people like vintage Mustangs with a Coyote under the hood!

- When buying parts, I highly recommend NPD. Whatever the best available part is, NPD will not only have it, they will likely have it in stock. Most other vendors simply drop ship everything and you never know when you're going to get it; maybe in a few days, maybe in a few months, maybe never. And I also recommend always asking for the best available. Cheap parts are not a good deal.

- For paint supplies, I like Evercoat fillers. I also really like SPI products. I used their epoxy primer, 2K primer (for blocking) and Universal Clear. They are small company. You can actually call their tech line and get advice about their products. Shoot, they even make some base coats as well, but I haven't used them. (Only because they didn't have the color I wanted.)

- If you're already familiar with paint and body work, cool. If you're not, I highly recommend the "Paintucation" videos from Kevin Tetz. I learned volumes from that guy. I tried many other online videos and they were hit or miss (mostly miss).

- Try to stick with a basic restomod rather than going full-out custom. Extreme custom cars seem cool, but they can be a nightmare to build and mind-blowing expensive. If you've built cars before and you have the chops and budget for high end custom, sure. Go for it. Otherwise, keep it simple.

That's my take.

Have fun!
 

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Welcome to the board. Keep looking, ask questions and try to narrow down the year that you want.

65 - 66
67 - 68
69 - 70

This board is great.
 

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Welcome. You’ve definitely found the best Mustang forum. And I agree with Israel. there are some major differences in those years.
Stan
 

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Discussion Starter #6
Thanks for the reply, I am still learning about all the nuances of these cars. I guess I was under the impression that between the vin on the dash, fender aprons, the warranty tag and the casting numbers for trans/engine there would be a difference. Now I do not exactly know how specific these items are. Like I mentioned I purchased some book from AMZ which seem to go into great detail on these things.

I have considered all 3 year ranges, I understand they are different cars but they are all very pretty cars to me. Personally the earlier models look "slimmer" to me, I definitively like the 69 front, fenders over the 70 but I do not think I would say no to the right car.

The idea of leaving the state definitively crossed my mind, certainly places down south have much nicer examples but for the time being I might just "kick some tires" around here just to get more familiar with what to look for. I figured going to a few car shows/meets wouldn't hurt either, I missed the Chicago one last week.

+1 on the paintification videos and evercoat fillers, I have used PPG systems a few times before and sherwin williams. I will check out SPI. My experience in the booth is fairly limited, 2-3 projects but they came out pretty decent. The health aspects of urethanes to scare me a bit to be honest, If I decide to do it again I will definitively be investing in a auxiliary air supply/mask.

As far as updates I have only considered doing basic things like brakes, wheels, EFI.

What price range should I be prepared to spend for a fairly solid fastback project? Just looking for a general idea.

Once again I appreciate you guys putting up with my newbie questions ;)

Tom
 

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What are your long term plans for the car? Fix and flip, or keep it forever (as long as forever is these days :) )? That makes a big difference in what you may want to spend. If you plan on selling it you will have a hard time making any money in general if you have to spend a lot on metal replacement, etc . If you plan on keeping it then the money spent is more of a fun thing rather than an investment.

Budget is going to partially involve which year you want. But for a good driver condition expect it to be at least $15-20k from what I have been seeing. You can find them lower, but then they usually require more work. I like doing improvements on cars, repairs are not so much fun to me. Better to start with a car that is in decent shape to begin with. That is a theme you will hear a lot here. Trust me, I've learned that lesson the hard way.

Speaking of spending, Fastbacks are crazy expensive anymore. Rustbuckets are now selling for what drivers used to sell for a few years ago. Again, get a complete car for sure. It generally is always better to get a car that needs very little work. You will spend more up front, but this way the other guy takes the financial hit instead of you.

I'm a coupe person myself, and even those are priced out of my budget these days. :-(

Take a look on CL in places like Arizona/New Mexico. Odds are you can find a rust free car here that even after paying to get it home(whether you trailer it or have it shipped) you will save money.

Oh, numbers matching. Again, Ford did not even put vin numbers on engines/trans/other stuff early on. I forget what year the Fed's mandated it. A K or a Shelby is a bit different. Best you can do is look at the date code of the block and trans and see if they are dated before the car was built. And many don't care, these aren't Corvettes. Cars are 50 years old more or less, many had the engine changed in the first couple of years, and who knows what all has happened to these cars in the last half century. But again, if you are looking for an investment, then you may place a higher value on having the "correct date" parts.

Russ
 

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Well, there are a lot more coupes made then fast backs. This leaves you a better chance of finding a car that is in a lot better shape and at a much lower price. This leaves you the option of fixing up the couple or finding a rust bucket like the second one with a solid roof and converting a coupe to a fast back. Been done many times. While resto mods are cool, the look that really rocks a coupe is the Trans Am look! Coupes were made for this.
 

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Discussion Starter #9 (Edited)
Looking to keep the car for a while, the hope is to loose less money then otherwise possible ,)

I enjoy challenges, but you are right most of the time you never get money back, much less get paid for your time.

I looked at eBay completed a bit and <10k doesn't get you anything, 10-20k gets you something driveable that will require some work, 30k+ Is where you really get into decent cars. At this point I am weighing options of spending the extra cash and just getting to enjoy it; it seems like the easy way out ;)

Preference is 66-67 > 69 > 70 > 65-66, especially the Mach 1 trim

The coupe to fastback conversions seem quite expensive, sheetmetal alone is ~5k
 

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you just missed a 65 FB in tampa on fleabay $2075.00 had a shelby hood on it.. there is a guy up north of you who does coupe to FB for under $2000 up in green bay area
 

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Not that much. Hard to tell from just those photos but looking at the rust on the cowl you're in for a boat load of rust repair. If I was just going from those 4 pictures I'd pass on it. I certainly wouldn't pay more than 4,000 unless there's something special about it or it's more solid than it looks. my .02
 

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In my experience CL is full of scammers anymore, I've pretty much given up on it all together. I found mine in FB marketplace, lucky find yes, but there it was. I saw many others in various stages of repair, some seeming affordable others way over priced. I passed up on a 4k 70 fast back because he had title issues. I just checked up on it and it appears he sold it. Clean title is always the first question I ask.
 

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Back from the dead... what do you guys think this is worth?

Even my Dogs think that one is "ruff". "Rearry Ruff".

I like to call those "$30k restoration projects to get a $25k car". Seriously, you could easily spend $15,000 on sheet metal/labor, body and paint alone, but for $20k find a decent, solid, running, driving car.
 

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Discussion Starter #18
For entertainment value, here are the pics. Asking price was 8k, clean title, supposedly 87k.

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Somebody paid $8K for that pile of rust? Keep watching craigslist and it will show up "for sale" again when the new owner discovers what he actually bought.
 

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Discussion Starter #20
I tried to feel him out, i believe he had someone willing to pay 5-6k. i need to get a nicer trailer that could make it down south where the good cars are. There was a red 65 which got converted to a racecar, running/driving for 5k in TN i think. I dont mind waiting as you can tell by the thread date lol
 
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