New and need advice

[Rlmoore33]

I have been looking for a LX or GT for a project car for a while. Most cars on the lower end seem to be in different states of disrepair or back yard modifications. So I ran across a 89 lx, that seemed to be all original for the most part and had little to no rust. The car has been sitting for some time and the paint (which appears to be original) is in bad shape, and the interior is fading but it’s all there. There are many other things like heat and air, dash lights , locks and windows and oil and leaks that I noticed. The car appears to be somewhat of a survivor but is in desperate need of restoration. There is something about this car that is tugging on me. The guy wants $4500. So this is where I need guidance, because I’m not seeing allot of cars out there that interest me for under 8k. Is this car worth saving at this price? It is a 5sp / 5.0 Cabernet red/red interior.

 

[Jet_Cruiser]

If the body is clean, minimal rust and hasn't been wrecked. I'd say yes, clean unmolested V8 cars are getting hard to find.

 

[347HO]

Define "project" car.

If you have little to no skills in fabrication, mechanical, electrical, paint and body... I suggest the car be as "turn key" as budget allows.

IMO, that car is worth $2800.00 judged on your description.

I bought mine for $1800.00 and was in near perfect condition, 1 owner, no collisions documented.
1986 coupe, lx 5.0, 5speed.

Took my 52 weeks to find this deal.
Patience paid off in my case.

 

[Rlmoore33]

Project for us would be to bring the car back to life as close to factory as possible, not looking to race, just want to enjoying bringing it back to life and cruising around. We have restored a 83 CJ7 so we have done a bit of body/electrical/engine work...so that part doesn't scare me off....

This car has all the factory interior intact down to the radio, engine still has smog pump and factory air cleaner and it has vin stickers on fenders/doors and hatch area....now with all that said, its been sitting outside and I sure every bushing under it is shot, it needs a rear main seal and also the transmission output seal. I'm sure it will be a Pandora's box of issues, but we have time and place to work on it.

It appears that the pool of cars is shrinking and a decent (by my standards) LX/GT is pushing 7-10K or more depending on the car. I'm probably splitting hairs here....
Thanks again for the input....any other opinions welcomed.

 

[347HO]

2 minutes of searching local area I find this

1988 mustang GT convertible - cars & trucks - by owner - vehicle...

I am trying this again, This was my daughters dream car until the transmission went out the day after she bought it, I put it into my garage with plans of fixing it but life is too busy, I thought...

seattle.craigslist.org

There are so many here, I'm sorry to hear they are so few in yours.
Again, good luck. I hope you are successful!

 

[broncojunkie]

I know the market varies by location and the pricing seems to fluctuate like crazy. I would personally walk away from that one, unless you just want to try lowballing the guy and see what happens. It's probably a decent car, but it just needs a lot of work to be nice. You might try explaining to the seller why you are seeing a lower value. If you add the cost to bring it back to acceptable condition, you will have way more in it than it's worth. Trust me when I say that none of us are going to get rich restoring these fox mustangs lol! But we still need to keep the purchase price at least somewhat reasonable.

If you can't work out a deal on this one, keep looking. You'll find a better deal. This is a good time of year to buy, also. The market favors the buyer as car guys start putting them away for the winter.

 

[broncojunkie]

Around here (I'm in WV) I think the prices are pretty high, considering this is the rust belt and clean cars are harder to come by. That would be a $2500-3500 car all day long.