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Unread 01-23-2013   #1 (permalink)
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Default 1984 GLX Convertible: Need Help With Pricing

Hey all,

I've been a member of AFM for a few years but mainly hung out in the 2011+ section while I was driving around in a 2011 GT/CS. The AFM members in that area were GREAT peers and gave a lot of good info. However I'm now looking into purchasing an older GT and was hoping for your guys advice...

Quick background, I grew up in SE Michigan, my entire family worked at Ford at the plants in Saline, Ypsi and Rawsonville and one of my Grandfathers was an engineer in Dearborn.

My first car was a 1984 Mustang LX Coupe 2.3L I purchase in 1994 for $500 cash at age 15. It had a bad block and head gasket so I figured out how to replace the block and rebuild the engine myself (cost me an additional $600 and lots of blood, sweat, tears and new curse-words!). Drove that car for 3 years 'till it finally rusted out beyond repair!

Fast-forward to today and 3 Mustangs later, and now I'm in the market to buy my late Grandfathers garage kept 1984 GLX convertible...but I have NO idea how to price/appraise this car.

The car is a 1984 Mustang GLX 5.0L EFI w/81,000 miles. Although it's a Michigan car, it's been garage-kept and never driven in rain/snow/salt -it's 100% rust free and the paint is immaculate. But the car is dirty and it's been sitting since September 2008, interior is a bit rough, leather seats are beyond repair. It has the 7.5" rear end, 5spd manual transmission and VIN "M" HO-175HP EFI engine.

My Grandma is saying she wants $15K for the car but I'm thinking around $3500-$5000.

Anybody here know how I can accurately put a price on this car?

Thanks -Roger
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Unread 01-24-2013   #2 (permalink)
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It all in the eye of the buyer
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Unread 01-24-2013   #3 (permalink)
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Grandma is a little off her rocker. A seller can ask whatever they think a car is worth to them but they might wait years till someone sees what they see.

Some pics might help.

You are in the right ballpark with your offer.
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Unread 01-25-2013   #4 (permalink)
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Your grandma is kinda a **** eh?

That interior will cost you, as well as whatever else has gone wrong in the last 5 years of sitting idle.. $2500 tops.
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Unread 01-26-2013   #5 (permalink)
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Yeah, my Grandma is a bit off in her assessment, she's associating emotional value and she thinks that since it was built for my Grandpa as an ordered vehicle (he used A-Plan and chose all the options) that it is somehow unique. She's also hurting for money.

Hell, the car was only $12K new in '84 and my Grandpa likely only paid $10K w/A-Plan pricing!

I'm gonna have to drop at least $2500-$3K into it just to replace the entire interior and convertible top. Although I'd like to help her out (she is my 76 yr old Grandma) I just can't see paying more than $5K AT MOST. Realistically I'm thinking $3K and even then I'll still be out $$$ once I get it back in fully restored condition. I plan on keeping and driving the car.

Just curious if anyone has any type of hard facts/numbers that I can user to show her the value of the car. KBB doesn't go back to '84 and I don't see any good examples on Yahoo Autos or Auto-Trader. -Sorry, I don't have any pics of the car.
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Unread 01-28-2013   #6 (permalink)
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Go check in FourEyedPride.com and see what opinions you get. The forum is awesome and there´s a lot of people that can help you in the appraisal. There´s even an appraise forum.

The 3K to 4 K sounds about right from what you mention. A 4 eyed car in excellent condition (no repairs or restoration needed) will go for around 8- 10K.

Your grandma is waay too optimistic.

BTW 1984s are not EFI, they are CFI (carburated fuel injection). The EFI 5.0s are from 1986 on. So if the car has a full EFI engine then the engine is not original
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