Back in 93 I was able to buy a '70 Conv. for $5500.
I drove it 4 years and sold it for $7500 after a $2000 paint job. It was a driver. I had problems with some leaking of the hydrolics for the top and the thing did leave oil in the garage, but I pretty much enjoyed it for free.
Right now I want a '68 like the one I owned back in the day. Coupe or Convert, 289 - 302.
Can I expect to buy a good driver for 10,000 - 15,000 and get my money back in 4 or 5 years? I'd be driving this locally ( I live on a lake in the boonies). Just take it to the tennis court, local shopping, 10 months out of the year.
I just need some thoughts from the group. Thanks in advance.
Last edited by JackVa1; 10-02-2009 at 11:45 AM.
Reason: spelling
The only thing I can say, there's no guarantees in life when it comes to the value of your car. Who knows if you'll get a good driver, for the price you mentioned then be able to get it back in 4 or 5 years. GOOD LUCK, WITH THE WIFE. And if you have any kids, still of age that live home and are still in school. YOU WILL NEED, ALL THE LUCK YOU CAN GET IN TODAYS ECONOMY, Mike. SCT Tuner.
I can't speak to the value as an expert, but it does sound resonable that you would not lose anything if you pay a fair price. Mustangs that old should hold their value pretty well, if kept up or restored. There is however, a certain class of collector out there these days that will pay more for original "Patina" than for shiney paint.
I told my wife that a Mustang would make me more attractive. What I didn't tell her is that it works better on younger women.
__________________
Bone Stock '07 GT 4.6, Redfire w/ parchment leather, Automatic.
If it looks right, it is right, and I decide if it looks right. Paraphrasing Sir Sydney Camm (of Hawker aircraft IIRC)
It seems to me that the market for guys that want a nice look and a driver is broader than the collector. I'm thinking that getting below the radar allows you to drive and also a sweet spot for resale is where I can accomplish what I want. Of course there are always surprises. My kids are grown and we're stashing for retirement....
You can find Coupes in that price range on Craigslist usually, that's where I found mine. It was a daily driver but needed TLC and some new seals (windshield, doors, trunk) and some minor body rust so it'll need a paint job. No rust on the frame/floorpans/trunk was my main concern, I can drive with rust in the corner of the doors but I got it for <10K so I'm happy.
I wanted a conv. but plan to drive a lot and knew it would be hard to make leakproof and the wife would complain about the sun after 20min. of driving, plus I don't panic when I park my coupe and lock it thinking someone's going to slash the top. If it's just you and you're only driving weekend/good weather I'd lean towards the conv., you can always drive it in a parade or homecoming!
Jon
__________________
'67 Coupe 289 C4, Candyapple red w/red deluxe int., PS, ext. decor group, light group, foxbody seats.
Next to install> stroked 333, AOD, 9" w/3.50:1, PDB.
'09 Black Warriors In Pink with glass roof - the wifes Mustang.
"If it ain't broke, I haven't fixed it yet" -Jon
I have always been able to sell cars for more or the same, but it depends on the car, and how well you take care of it. Right now the market is still slightly on a downward curve, but it shows signs of leveling off so it is a great time to buy a restored car.
__________________
Mike
I've had 60 cars....most of them Mustangs :-)
Well, if your only concern is the retail...buy gold. If you know what to look for in a "solid" car that is not a bunch of parts put together, or bondo over rust...it is reasonable to expect to recoup at least most of your investment. If the market improves, you could make a little. If not, just figure it rental.
As far as the wife...my daughter got her liscense, I offered her a new 'stang, she opted for a '65. In the last year I bought a '65 parts car & a '67 besides the daughter's. Total 3...investment <12,000. Plus around 4,000 in upgrades. The wife was a little stunned at first...just let her drive once in a while, she'll come around. Mine now claims the '67.
PS...we're still considering 2 '67 Fastbacks I found in a barn. My motto is you can live...or just exist. Enjoy retirement...otherwise go back to work.
I agree with Print Dad. If you take the financial approach then anytime something happens to the car and it needs to be fixed she's going to look at it as you losing money and that it was a bad investment. The best thing to do is what Print Dad said, take her to some local cruises and shows and she can see all the wives that are there. Sell it as a good social hobby. I have a '70 convertible myself. I know I'm already in the hole with it if I were to try and sell it now, but my wife knows how much I love the car and she has really enjoyed talking with the other wives at the shows and cruises we have attended. Now whenever something goes wrong with the car she feels bad because she has grown to love the car just as much as I do.
Now as for what type to purchase. True convertibles have come down in price, but I think you can get more bang for your buck with a coupe rather than a convertible. As a suggestion if you wanted to get a convertible I would look at getting another '70 as they are more rare, there were only 7,673 convertibles produced in '70 which accounts for only 4% of total production for that year. And if you happen to find yourself a factory delux convertible (76B) only 1,474 which is less than 1% of production. Just a thought. Good luck with everything.
Hey Jack...
All good advice, but remember this "It's much easier to beg forgiveness than ask permission" - If she loves ya, she'll forgive ya, especially when she realizes how much you love it......
On the type, if it were me I'd lean toward the convertible
cheers
How about "it will improve our sex life"? "I'm having a mid life crisis and it's cheaper than a Corvette"? "I heard Bill Clinton had one and we're Democrats"? "Going topless will save on A/C"? "I'm tring to save America and buy domestic"? "We want to go green and this will not cost any more trees to die in the rainforest"?
Finally, "it's my money, I'll do what I want with it"...(not recommended unless you want a spot on the Dr Phil show)
__________________
"Goose, Hollywood's fine, I want Viper"
1995 Mustang GT Cnv 347(427 stroker being built!) almost done!
1996 Cobra with Kenne Bell 2.1 Supercharger and every other conceivable part you can bolt on it...650hp upgrade in the works
2003 Infiniti M45 V8 340 hp...a methadone treatment for reformed Mustang drivers
I agree with the beg for forgiveness motto myself. My wife was truly set on no Mustang for me and then when I decided to sell my harley she said that was a good idea to get the money for the car. FOund a great deal on EBay for a 68 coupe and convinced here to let me get it since it was a good solid car for a good price before I was able to sell the bike. Now have both in the garage and have yet to put the bike up for sale.
On another note I work all the time if not at my job then on my house and I need a hobby and something to relax and enjoy other then slaving away all the time. That was the biggest factor for me to get mine.Great stress relief to toy around with. Life is too short to not have something to enjoy!
Hey Jack...
All good advice, but remember this "It's much easier to beg forgiveness than ask permission" - If she loves ya, she'll forgive ya, especially when she realizes how much you love it......
On the type, if it were me I'd lean toward the convertible
cheers
Hello. I can't speak for how another person would respond to a given situation, but, I do have a pretty good idea of how I would respond to that. One thing that some guys seem to have a little trouble getting their mind around is this. If my husband asks me what I think about him doing ___________, and I say that I think that it's a terrible idea, and that he should not do it, and then he goes out and does it anyway, I'm very upset with that. I'm not upset because he didn't do what I wanted, I'm upset because my opinion on this meant so little to him. Why even ask in the first place if you don't care what I think about it. I would take that to mean that his thought process had gone something like this. " She doesn't want me to do this, but, I don't care what she wants, so, I'm going to do it anyway. She'll be pretty mad when I do it anyway, but, I don't care about her feelings, so, she can get as angry as she wants. Her emotional wear and tear means nothing to me. I'll do what I want, and she can just learn to live with it. Or not. I don't care one way or the other." How that would make you feel?
You can sell the idea a lot more effectively with the 'together time' thing.
LOL Keep in mind that Veronica is speaking from a woman's point of view........ditch that idea...... JUST KIDDING!!!
Fella ya got to go for the "together thing" take her to car shows, look talk to the people. I SUGGEST you find a local cruise in and you go FIRST...check out the people talk to them...not all classic car owners are that NICE. Once you find a cool group...then take her, next the car shows.....then maybe your luck will bring you fortune. KEEP in mind it isn't ALL cars that she will agree to! Case in point I bought our black car...thought she'd love it????? NOPE she loves the convertible...but could care less about the coupe which was for her....now I've got to sell it to get a pickup truck that she wants!!
__________________
"After all ......looks ARE important"
1967 Diamond Blue Convertible
all original
Wifey's '67 Coupe Black, GT/CS Clone
Help convincing my Wife why we need a Mustang 
I can't speak for how another person would respond to a given situation, but, I do have a pretty good idea of how I would respond to that. One thing that some guys seem to have a little trouble getting their mind around is this. If my husband asks me what I think about him doing ___________, and I say that I think that it's a terrible idea, and that he should not do it, and then he goes out and does it anyway, I'm very upset with that. I'm not upset because he didn't do what I wanted, I'm upset because my opinion on this meant so little to him. Why even ask in the first place if you don't care what I think about it. I would take that to mean that his thought process had gone something like this. " She doesn't want me to do this, but, I don't care what she wants, so, I'm going to do it anyway. She'll be pretty mad when I do it anyway, but, I don't care about her feelings, so, she can get as angry as she wants. Her emotional wear and tear means nothing to me. I'll do what I want, and she can just learn to live with it. Or not. I don't care one way or the other." How that would make you feel? 
Keep in mind that Veronica is speaking from a woman's point of view........ditch that idea......
JUST KIDDING!!!
!!
