I have a 1970 Mustang Fastback that I have owned since 1976 with 200,000 miles on the original 302 engine. In 1990, the rust out spots were repaired and the car repainted in the original Wimbledon White. Then I replaced the carpet and seats with the original colors. The front end was rebuilt in the mid 90’s. It is our third car, so it mainly rests in the garage between drivings.
To make a long story short, accumulated engine/transmission/rear end problems have me at a point where I need to make a decision on the future. My mechanic estimates that doing everything - rebuilding the engine, going through the transmission, rebuilding the rear end, repairing the a/c, replacing the leaking heater core, repairing a small leak in the radiator, etc could run up to $15,000 or more, which is stretch financially right now. I can do minor repair work, but all of these things would need to be farmed out to a repair shop.
Question #1 – The car has sentimental value to me, but what is it worth in its current state? Being a standard Mustang model and not,say, a Boss 302 or higher desired model, I am wondering if it makes sense to sink that much money into it, especially if I don't plan to enter shows, etc. in the future.
Question #2 – If I spend the money , do I stay 'original'? I have up to this point, but the car is not that easy to drive. An option I’m considering is going with a crate engine ready to install with EFI, installing power brakes, re-doing the power steering system to eliminate the hoses, etc, and basically spending money to make the car much more enjoyable to drive.
Do I stay original and keep piece-milling repairs as the budget allows on my standard model as the budget allows, or do I concentrate on making it a fun, reliable ‘daily driver’?
I know there is not a 'correct' answer, but any advice/input/experiences would be greatly appreciated.
To make a long story short, accumulated engine/transmission/rear end problems have me at a point where I need to make a decision on the future. My mechanic estimates that doing everything - rebuilding the engine, going through the transmission, rebuilding the rear end, repairing the a/c, replacing the leaking heater core, repairing a small leak in the radiator, etc could run up to $15,000 or more, which is stretch financially right now. I can do minor repair work, but all of these things would need to be farmed out to a repair shop.
Question #1 – The car has sentimental value to me, but what is it worth in its current state? Being a standard Mustang model and not,say, a Boss 302 or higher desired model, I am wondering if it makes sense to sink that much money into it, especially if I don't plan to enter shows, etc. in the future.
Question #2 – If I spend the money , do I stay 'original'? I have up to this point, but the car is not that easy to drive. An option I’m considering is going with a crate engine ready to install with EFI, installing power brakes, re-doing the power steering system to eliminate the hoses, etc, and basically spending money to make the car much more enjoyable to drive.
Do I stay original and keep piece-milling repairs as the budget allows on my standard model as the budget allows, or do I concentrate on making it a fun, reliable ‘daily driver’?
I know there is not a 'correct' answer, but any advice/input/experiences would be greatly appreciated.
