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Discussion Starter #1
It's back. The recurring '66 convertible that started me loving mustangs in the first place.

Background: It's a '66 convertible. Springtime yellow with black top and interior. 200 ci and 3 speed manual tranny. No other options AFAIK. That's the good part. The bad is that it was used as a daily driver up until about 5 yrs ago, and treated like one. I suspect the engine/tranny/brakes/suspension really need upgrades or replacement after being non-op for 5 yrs. And I know the car has the usual rust issues and that the floors were patched (probably incorrectly) years back. Don't know if the rust is a minor or major problem. Luckily, I have a good 200 engine and rebuilt 3 speed to transplant if needed...

The owner is a pal of my dad, and at age 65 has gotten used to driving a modern car. His son wants him to get rid of the car, as his dad's lost interest (and because he knows I'd like a crack at it).

I doubt if the owner has any idea what it's worth....I'm not sure I do either. :eek: Frankly, I don't even know if it's worth buying....he might just pass it along but if not, how much can you estimate you'd pay for this clunker? TIA - Dickson
 

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Depending on the rust, I would say less than $5000. If it's really bad, maybe only around $2000-3000. Just a guess though!
 

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Well, the rust and I6 hurt its value; but then the fact it's a ragtop brings it right back up. If it's got the typical rust and isn't at all a basketcase, maybe $3500 (?) If the seller is motivated – like it sounds this one is – there are still deals to be had! Start lower... Maybe with $2000. You never know – he just might bite!
 
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locally 1st gens are starting to climb into the 5 or 6k range or higher, even for basket cases. I'd offer around 2500-3500. No more than that though.
 

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If it needs wheelhouses and quarters i would say no more than $2500... if it needs frame rails, rockers, etc... less than that. a full resto is going to take a long time and be expensive (as i am sure you well know) so you have to factor that into whatever you end up paying him. Unless you really want the car, or it is in good shape (good rockers, tb's, quarters, etc...) than i would pass...

- Jason
 

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You're one of the best people to look at the car and tell what it will require in labor and expense. Sounds like you really want it, and you certainly have no illusions about what it will require on your part.

At least you wouldn't have to install a new headliner. :) I can't see a car being a daily driver in your town for over 30 years without being almost destroyed, but you know what to look for. Good Luck in whatever you decide!
 

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I think most of the previous value estimates are way too low. Obviously, pay as little as possible for it. But if this is a car that drives and is all there...it has to be worth 5 to 10 thousand dollars.

Is it a good investment at that price? Of course not. But as I've pointed out before....why does it even matter what you pay for the car? If you want to fix everything that's wrong with it...you're going to be out another $20,000 or so...which makes the original purchase price really irrelavant.

A guy stopped me yesterday paying for gas and asked me if I'd sell my car to him. I said "no it isn't for sale". And he says, "I'll give you more than you paid for it".

WELL THEN! More than I paid for it??? That's not exactly the same as "more than you have in it, now is it?" If memory serves I paid $5000 for my car. I WOULD HOPE he would give me more than I paid for it. I just shook my head and said, "I'd have to have a lot more then it's worth to let it go." That shut him up. This guy is a car dealer. He was just looking to make a buck.

Anyway...back to my thought. You can pay $10,000 for a paint job. Which is worth more...a car...or the paint job it goes on???

This is a hobby. The numbers are never going to add up to anything except more red ink...so just get over it and write it off to "recreation" or "therapy" or whatnot. If you want it...find out what it's going to take to buy, get the obligatory approvals, and go buy the damn thing.

Phil
 

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Discussion Starter #9
Well I'm going to have to give it a thorough once over. I suspect all kinds of rust problems, and frankly I'm not sure I'm up to that. Then again, it should be mostly complete.

It's going to depend on what his price is. I was not actively searching for a convertible, or a rusty sixer, but if the price is right I'll consider it.

If things progess and I get to crawl under it I'll let you know ! Thanks for the advice - Dickson
 
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