buy a nice $6,000 car and save that money for a down payment on a house, grad school, some kind of investment, etc.

 

I would say NO if it is your primary transportation. No air bags, old technology brakes, etc. Especially if you are not inclined to mechincal work (and may live in an apartment so you can't work on it anyway).

 

That kind of money would easily my a nice, restored Stang. But 4+ years of student parking lots will trash it pretty bad. Take the money, get a dependable beater and save/invest the money for more important things later on. I know it's not what you want to hear right now but you will thank us later on.

 

Well my first car and my current car is a 67 mustang, im seventeen and have driven it daily for over a year with very small issues. the biggets problem ive had with the car was the points and coil going bad, its been very reliable, and i know its gonna start everytime i go out into the garage. IMO you can have an vintage mustang as a first car, i knew quite a bit about cars before i got into mine, but im sure you could frind some freinds that are willing to help you out. I bought mine for 6000, and since them have spent about 12000, on unneded mods, like paint job, wheels, stereo etc, but i think its very feasible.. hope this helps.

 

I know it isn't what you want to hear but I would suggest a decent used car, bank about half the money ---leave it till after school, marriage,house, kids, ---try to get established in life then take that money and more and buy your "toy" ---a restored mustang would not be a good first and only car in my opinion----I have looked back and wished I would have made some better choices and listened to others more but the bottom line is it is your choice, make the best of however you choose and good luck either way!

 

The big issue I would see with taking a classic to college is campus parking is hell on earth. I cannot even begin to tell you how many times I saw broken out windows and keyed cars because someone was drunk, jealous and stupid.

 

I tried to talk my son out of a vintage mustang as his first car (unsuccessfully).

Cons:
They are not as reliable as a newer car.
They are not as economical as a newer car.
They are not as comfortable as a newer car.
They are not as safe as a newer car.
They are not as practical as a newer car.
They are not as easy to drive as a newer car.
Insurance can be problematic (big engine, establishing replacement value).
You will be upset when it is keyed, gets door dings, or dented.
You will need to be mechanically inclined, own tools, and have alternate transportation.

Pros:
They are more fun than a newer car.
You will not see 20 of them in every parking lot.
They attract attention.
They will not depreciate as much as a newer car.

In the end he persisted and we have spent 2 years restoring a car for him. It has taken longer and cost more than (he) expected (grin).

He loves his car and will probably not do anything too stupid since he has so much invested in it.

We have a "beater" car he borrows when necessary.

I have a feeling he will be devastated if his car is crashed/stolen/vandalized.

Good luck,
Rory

 

Have you ever heard of a Roth IRA? I suggest you educate yourself on these if you want to retire with some wealth.
This from an old Geezer that knows.

 

Get a decent newer used Mustang so you can still hang out with the right crowd. You won't have the time or the place to wrench on an old Mustang right now.

 

Plus it snows in Maryland right? It's no fun driving a nice, fast, rear-wheel drive car in the snow.

I'd get a front wheel drive car for as cheeply as you can...insurance will be cheaper...and you wont be afraid to park it anywhere. Like everyone else...bank that money and once you get out of college, go get your mustang.

 

I agree with much of what has been said so far.Here's the deal,,today versus 26 years ago when i got my license,,EVERYBODY WANTS A 69 MUSTANG!!!,,,in 1982,,they were still "just another car".I can't imagine someone sitting a nice car like a 69 Mach or fastback in a college parking lot thesedays. Better have all new disk brakes,,electronic ignition,new carb,great heater,all new weatherstriping,snow tires in the trunk,snow chains,(remember,,Mustangs are rear wheel drive,and they DON"T go in the deep snow) like a modern front wheel drive car does.Oh,,and if you live in the rust belt areas,,which is just about anywhere East of Oklahoma,,the car has a shelf life of three (yes,,3) years max till is is eaten up with salt.Ready for all of that?? For your 15K investment?? I have to agree with the guy about the Roth IRA,,bank it,,buy a beater Mercedes,(yes,,they CAN be had for cheap,,very cheap cars),or Toyota,or square volvo,,and when you get on your feet with a PAID-OFF House with a nice garage,,then buy the hot Musclecar and have fun with it in the spring,summer and fall.

 

Do a search for user ID "Nostangyet" and have fun reading

 

In 4-5 years, what would the mustang that you want today sell for? It most likely will be higher than todays prices. I say go for it, I did and never had any regrets!
::

 

I just wrote a long response to you but my computer froze so here it is in short:
My first car was a 66 mustang drove it for 2 years and i ended up having to get a newer car for reliability purposes (3 hr drive to school). My idea was maybe you can get a cheaper reliable car(5000) and also get a decent daily driver mustang(6000) that you can work on in time. I rent a house at college and it has a garage so its perfect for me to work on my mustang whenever i want. Its great having a jeep to haul all my stuff around and also have the mustang to cruise in.
As for not knowing much about cars, If you want a classic mustang your going to have to learn. When i got mine 1999 i didnt know much about cars. and two semesters ago i converted an auto to a stick in my college house driveway. Its a great learning experience and its so much more rewarding when you do it yourself.
Its just another option that you can think about.
I agree with the others i dont think you should get a restored classic as your first driver, especially if you will be taking it to college and dont have good mechanical knowledge to fix anyhting that goes wrong.
~Jeff

 

My first car was my 66 Fastback, bought it in 96. I drove it until it got to be too much to maintain and now it's sitting in the garage undergoing a slow restoration. As far as the cool factor, you can't compare an old Mustang to the new "bellybuttons" (everybody's got one) that are on the road now, but any 40 year old car is going to have issues, so from a reliability standpoint, a new car will generally be better. Heck, that's the reason I parked my 66 in 2001 and bought my 97.

 

I think your screen name says it all.

Get a dependable beater for school, save the money.

 

short answer - no.

 

Would a restored Mustang make a decent first car?

Absolutely. If you're talking about a restored 1990 or newer 5.0. That's the year they got air bags. Old mustangs aren't crashworthy by today's standards. My nephew pinwheeled a Neon through a field with 17 seperate impacts and only spent one night in the hospital. In a vintage mustang it would have been a closed casket funeral.

Why did he crash? Because he used poor judgement and only had marginal skills. Better to have a safer car until the hormone levels drop and you have a few thousand hours behind the wheel.

Phil

 

Question: Would a restored Mustang make a decent first car?
Answer:...no...
And now a mom's point of view:

Mom type questions....

Do you know that you have the scholarship? What does it take to get it?

Will you commute from home or live in a dorm(ick) or apartment? If you are in a dorm count on stolen stereos and door dings...maybe stolen tires and rims....I have kids in college. They have shared horror stories.

Are you ok with driving it in the snow? (MD)

Are your friends idiots, who will want to borrow your "Stang? and will you let them?

Can you sleep at night knowing that your baby is out in the lot with crazy people?

ok...enough of that....if any of this makes you feel sick...wait to get your dream car...

Maybe use a bit of the money to buy a "taurus" or a small car for now and put the rest of the money in an account that will get you some interest.

Toward the end of your time at college, buy the dream car.
TA DA !! you get your car...and no horror stories.

Don't feel intimidated because you have not worked on cars.
I didn't know anything about cars...except where to put the gas...
I bought my '67 and learned...sometimes the hard way (burned a $160.00 firewall to alternator wiring harnes) mostly just by reading and asking questions....I am learning...and it feels good.

One more thought.....read...read...read...learn all you can both in your future job field, and about cars...
never be afraid to ask questions...never be afraid to say "I don't understand, tell me again."

Let me know what happens....It's a "mom" thing

Good luck!!
Robin

 

Good Gawd ..... not again

NO , don't buy a classic Mustang .

Id love to say yes but at this point in your life it will be a hassle . Unless you can buy one that has been completly restored you will be up to your ears , all through college .
Use the money instead to pay for school , buy a late model car that's good on fuel , and have a party .
That's alot better to do than worry about a old car while trying to maintain a good grade and social life .
If you were able to fix ANYTHING , I would say go for it but don't end up like Alex did , buying a car he could never drive because it was always broken .
You might find a good driver out there but odds are against finding a classic Mustang that will be reliable and not cost a ton of cash every week for fuel .
Believe me , when I was in school I was always running around . If your away from home you take for granted all that your parents do .
Need food ? Gotta drive to the store to buy it premade or grocery style .
Need shoes ? Ditto .
Need supplies ? Ditto .
Got a Girlfriend ? Double Ditto .

The list goes on and on .

You will find 100000 places to spend money and time other than a old Mustang . Sure , it would be great to have one but if it was me , I would wait till school was done .

 

428 CJ would be ideal

spend about $18,000

Okay that's the downpayment. :biggrin: :biggrin:

Have you realized that 99% of our responses advise against this?
Bank the money, you'll use it.

 

Get a small car that's only a few years old (re:dependable) and gets 30 some MPG. BANK the rest (IRA, etc.) My investments are in real estate and I have'nt gone wrong yet. My first car was a 68 Mustang GT...I don't think I'd do that again...not for a daily driver. Just my .02 cents. :biggrin:

 

Do a search for user ID "Nostangyet" and have fun reading

Whaddya mean? I've never driven mine. Don't you mean wanta-gota-solda67Coupe-andbought-aHONDA?
That said, mine will probably be my driver, come spring, out of sheer nessecity. I'm used to taking crap from daily drivers, and I can deal with it, so I'm not bothered at the idea, but if you aren't, don't!

They are a money sucking black hole for some reason as well ::

If I were to start again with a real budget and intent to use it as a driver, I'd pick up a 69-73 coupe in excellent shape for cheap, and save the rest of the money.

I agree with 2ndGen, these cars just arent as idiot proof as newer ones. Newer cars, you keep the oil changed and don't ignore it and you're good to go. Preventative mantinence is key with old cars, or it'll deteriorate into an unreliable POS that will cost lots to make reliable again.

Be prepared to learn, a mechainic keeping it in shape will cost as much as your education :horror: Besides, you won't have the ability to deal with minor problems if you don't know/learn anything about cars, and are very vunerable to getting ripped off by a mechanic, because fewer and fewer of them understand these things.

The wanta-gota-solda67Coupe-andbought-aHONDA saga is a shining example of EVERYTHING NOT to do if you're a student daily-driving a vintage car.

Just don't take it on-campus after dark, especially on the weekends!
--Kyle

 

This would be a terrible idea. An old car will nickel and dime you to death. You can't believe how many little things can put a car into inoperable status. And you, with no knowledge of how to fix them, will be walking each time one of them pops up.

I guess I'm missing something, but it's my understanding that $18,000 is barely enough to get you through ONE year of school, and you're probably going to be spending five years at this before you can get enough credits to graduate. I don't get it, how you could be seriously considering an $18,000 luxury purchase at the front end.

 

The 2 problems I see, is the lack of knowledge of cars, and a place to work on it. I'm not knocking you, but the reality of it is, if you have to pay someone else to fix it, the car will get very expensive in a hurry. If you can fix it yourself, on the other hand, it will cost penneys on the dollar compared to a newer car to maintain.

My daily driver is the '66 in my sig pic, and it has been for the last almost 8 years. Both my kids' daily drivers are classic Mustangs, and have been for the 6 and 5 years that they've been driving. My daughter left hers at home, though, when she went to U.C. Davis, because of the hassles of having a car on that campus.

I'm all for a vintage Mustang as a daily driver, but you have to either buy one fixed up enough, or fix it up enough before it can be a daily driver.

There's no way, I'd have a big block, though, for a daily driver ... not with the cost of parts or gas for them.