66 Mustang
 

I was considering trading in my 95 Saturn for whatever price they may offer and buying a fully referbished 66 Mustang Fastback. The guy that I'm going to purchase it from said that he would sell it to me for 10'000 and I would only have to pay half. From there I could pay a monthly payment of 250 or 200 a month. I wanted to know if this was a good price for such a car. I'm a little confused when it comes to older vehicles. When it comes to new more recent cars I know how much something should be. Also I'm pretty sure that the car is a straight 6 engine, it is pearl white, and the interior and engine have all been redone.

Since you don't know alot about old Mustangs I would find someone that does and get them to look at the car first. There can be alot of hidden problems and may also have some shoddy repairs.

Do yourself a BIG favor and get someone to evaluate the Mustang. Before you purchase the car.

I agree with Gearhead, get an expert evaluation before you buy. Is this going to be your daily driver? Old cars like this even in perfect condition need constant tinkering to keep them running well. It's not like our low maintainance electronic fuel injection electronic ignition new cars.

Off the top of my head, $10,000 seems high for a 6 cyl. even if in show car condition. That's really just a gut opinion though. Get an expert evaluation if you're really interested. Your local Mustang club can probably recommend someone.

Rev

There's several internet sites that'll give you rough estimates of vintage Mustangs based on their condition. The one site I just found quotes Mustang Monthly Magazine, February 1998 issue, as saying a 1966 Fastback is worth $5,100 (fair condition), $8,600 (good condition), and $13,325 (excellent condition). They say to deduct $250 - $775 for a 6-cylinder. I personally think their values are low but that's only based on what they estimate a 68 coupe in excellent condition is worth ($7,325), which is what I have. I've seen other estimates up to $1,500 more. Keep in mind their definition of "excellent" condition is "nearly perfect condition, usually professionally restored to current highest standards, all components original or an exact replacement, and driven only a few miles per year, if at all.