Pricing help

[fieroguy]

I am just out of college and looking to get a house, but I will have to sell my Mustang in order to do that. I do not really want to do it, but a house is more important than a car that is going to collect dust (I have a beater Fiero as my daily driver). I was wondering how much it would go for. It is a 66 restomod. In 01 my father and I put a 5.0L from a 92 Mustang into it.

It has:
rack and pinion power steering
A/C
'92 5.0L engine
3.55 Rear differential (out of a 65 Falcon I believe)
15" torque thrust II wheels
CD changer,
2 10" subwoofers and amp (forgot exact power)
2 6x9" kenwood 3-way speakers in rear
2 6" alpine speakers in door panels
kenwood tape head unit (Custom Autosound)


Only a few thousand miles on it after conversion (drove part of senior year of HS and then sparingly through college) around 90K miles total on car. This was a frame up restoration in 98 to restore to original 6-cylinder, then redone to add 5.0L.

Any thoughts on the price I could get for it? I've seen some in the 20s, but that was a few years ago. Please let me know.

Thanks

[Mach 1]

Ill give you $5,000 for it. Is it a fastback?

[bmxmon]

Is it efi or carb? You would be able to get more for an efi, as thats a pretty hot item on restomods now a days. The rack and pinion definately helps ya out. Coupe: 15-20, fastback: 20-30 i would think.

[fieroguy]

It is an EFI, and a coupe. It has a decent paint job, jet black, with a white pinstripe around the indentation. There are a few minor scratches from it being a daily driver, but nothing big. There is a very small amount of rust on the rear fender wells, but the frame is rust free.

[rwhite65]

check ebay...that will give you a better idea right now
Ryan

[Unit 5302]

The coupe hurts a lot as they don't sell nearly as well as the fastback (I really wish Ford would pay attention to that fact). A resto-modded EFI 5.0 car isn't going to bring anywhere near the kind of money that a big-block, Mach 1 or Boss will. The frame-off resto was performed 8 years ago, and they're pretty much a dime a dozen these days.

It's going to depend a lot on how good the bodywork is, but I would expect you'd be able to get somewhere in the $8k-$10k neighborhood if it's nice.

I would definitely be looking to sell it sooner rather than later as the obscene bubble in the 60s car prices won't last forever.

[Fox90GT25th]

Originally Posted by Unit 5302

I would definitely be looking to sell it sooner rather than later as the obscene bubble in the 60s car prices won't last forever.

I disagree The prices on these cars are high and will stay this way.







fieroguy don't sell your car.

You can get a house without selling it. Go to the bank and see what types of loans are available to you. You might be surprised


Case in point. The house we just purchased we qualified for a rural development loan saved us about 7k on a down payment and about 150.00 on the payment.

[Mach 1]

Its worth whatever somebody is willing to pay for it.

Decide how fast you want to unload it and set your price accordingly.

[Unit 5302]

Originally Posted by Fox90GT25th

I disagree The prices on these cars are high and will stay this way.

Classic cars have been skyrocketing in value since the release of Gone in 60 Seconds, and the coverage of the Barrett Jackson car auctions. The appreciation is extremely abnormal, and the number of people interested in the market is finite. In my opinion, not only is the market saturated, but the coming financial difficulites for many homeowners will force decisions between houses and toys.

The collector car market has been fickle for a LONG time now with run ups and drop offs. This recent bubble is likely no exception. Especially when Detroit has decided to make throwback offerings which is what most of the general public really wants anyway.

Classic musclecars are expendible toys for most folks, and the buyers of these cars are most often people in their 50s which now want to go back and get their dream car. These folks are nearing retirement, and they'll be all too eager to dump their classic cars when they start to feel the retirement pinch. Of course, there are a lot of people with tons and tons of money, but they're not interested in a collection of 200 cars because the market will again turn bearish, and storage for such a collection is hard to come by.

Today's youth market, as a general rule, has no interest in musclecars, and I don't see that interest changing. That means there is a finite and dwindling number of people even interested in the classic cars. How many people do you know that are actually interested in working on or building cars? I hardly know anybody with that kind of interest anymore. We're a rare and dying breed, and pretty much the only market for those old cars.

Those are all reasons why the collector car market bubble isn't likely to continue indefinitely, or in my opinion, even for another 5 years.

[Mr 5 0]

Originally Posted by Unit 5302

Today's youth market, as a general rule, has no interest in musclecars, and I don't see that interest changing. That means there is a finite and dwindling number of people even interested in the classic cars. How many people do you know that are actually interested in working on or building cars? I hardly know anybody with that kind of interest anymore. We're a rare and dying breed, and pretty much the only market for those old cars.

Sad but true. I'm one of those guys that spent years tinkering with and street-racing muscle cars (a '71 Camaro 350 in the 80's and a '90 'Stang 5.0 in the 90's) - and I loved every minute of it. However, that was then, this is now. Been there, done that.

Today, you can buy a new Mustang with an honest 300 HP, every convenience and safety feature imaginable, neglible emissions to worry about and not have the reliability hassles of an old car. I still like the older muscle cars but prefer to see them at car shows these days.

I agree, too, that, judging from what I see at local car shows, it's mostly late-middle-aged guys that are buying these '60's/70's muscle cars - and they won't be doing it forever as we all age. Insurance and upkeep on an old car, especially to keep it pristine, is time consuming and gets old, eventually.

I had a friend (only 32 years old at the time) who had a restored '67 Camaro convertible that was very sharp. One day, he put a 'For Sale' sign on it. I asked him why. He said: "every spring I pull it out of the garage and have to clean it all up and go through it for any rust, leaks, etc. Then, I only drive it about 100 miles or so because I don't want to add mileage to it (for resale). I finally realized that it was becoming pointless to keep a car I hardly used and that wasn't much fun anymore." That pretty much sums it up. I couldn't fault his logic - and he got $6,000. for his Camaro, which was a stock 350/4 speed.

There is still a market for old musclecars but, as you stated, it's finite and shrinking. Young guys today are all into foreign 4-bangers...if they are into 'cars' at all. Muscle cars are dinosaurs to most of them. A 40-year-old Mustang V-8 restomod (which are very common) has some value but the market is going to be sparse.

[Fox90GT25th]

Interesting points guys.

I guess what I am looking at is the rise in pricing for the older cars and the way some 80's/90's cars are holding their value.



Heck I see nice 5.0's going for 6k all day.
6k for a 67 vert is dirt cheap wither it be a chevy or a mustang. Sure you can buy a 60's car all day around here for 5 to 6k but what you would be getting is some pos someone threw together with gallons of bondo and a junkyard motor.

[Mr 5 0]

Well then, I wish you luck with the sale of your '66 coupe. If you can get 5 or 6 thousand for it, more power to you...but I'll believe it when I see it....and I wouldn't expect a quick sale. But, I could be wrong. Let us know how it turns out.

[RBatson]

About 5-6yrs ago a guy on my route had a beautiful 66 vert with an 88 5.0 efi with t5 tranny. Nice paint(except for alittle bit of bubbles in the rear quarter panels), cobra wheels, fuel cell in trunk, chrome exhaust through valence.. beautiful car! He wanted $6500 and I just couldn't come up with it at the time. It was a very nice car and professionally done.

Have you sold your car yet?

[rwhite65]

An older mustang goes for a good price here, if it is rust free. Due to our salt on the roads in the winter...rust free means money.
Ryan

[Mach 1]

theres just more reasons to NOT own a muscle car these days there there are to own one. Expensive gas, insurance, reliability, convienace on newer models as well as improved comfort.

It does get old, and I swore that I would NEVER sell my 93 GT, but when it started stalling occasionally after I had spent years trying to tune it to perfection, and the fact the baby seat wouldnt fit in the back, practicality won out and I let it go cheap.

I had $10K plus in mods and sold it for $5,800 just to unload it. And i didnt get a lot of offers. In fact, that was the only one. It was a kid who drove half way across the country to buy it because he saw the amount of money i had in it and how cheap I was selling it for.

So i had one buyer for a great car with a tons of well done and tasteful mods that i sold for a very good price.

Out of every 100 kids these days that are into cars, 99 of them will want some lowered honda civic.

its sad, but true.

And that was around the 4th time i put my blood . sewat and tears into a car only to have to let it go for a reliable, practical car.

I swear I wont do it again, but modding cars is somethign i love, so who knows...

[rwhite65]

Trust me, I hear you. Now that I am engaged and thinking of buying a house, I very much hear you.

But I remember how badly I wanted that car...how I dreamed of a cool car in my early teen years. I would be well off right now if I could sell mine, and use that money towards other things.....but.....

It is expensive...no doubt about it, it sucks money left and right. All I have to do is drive it one time and watch the kids and old men alike snap there necks trying to get a glimpse of what just passed them. After this, makes all the money seem slight.

I have heard way too many guys say they sold theirs and wished they hadn’t...not going down that road if I have a choice. Good luck to all that do.
Ryan

[Mr 5 0]

In May of 2005, I sold my one-(adult)-owner (that would be me) 1990 Mustang LX hatchback with the original, stock 5.0 and T-5 as well as a bunch of small but notable upgrades (3.55 rear, sub-frame connectors, Pro 50 shifter, CAI (Moroso), KYB gas shocks, 3-row radiator ,'police-duty' fan, high-voltage coil, Optima 800 cca battery, things like that, as well as a fairly recent clutch/flywheel replacement, excellent brakes and tires - all for a mere $3000. A steal...as the 'Stang had a perfectly clean CarFax record - which I supplied - (never hit or stolen) -as well as all the original paperwork, including my 1990 bill of sale (total 1990 cost: $13,600.) The 'Stang came not only with the original owners manuals (I kept them in the house) but also with my highly-detailed 15-year maintenance record, something you just don't get with most used cars of any type.

This was not your all-too-typical beat-to-the ground, handed-around Mustang 5.0 needing to be 'rescued'. It had a few tiny rust spots on the rear quarters and the Strawberry Red Metallic paint was faded but otherwise, it was in excellent shape for a non-garaged 'muscle car' with 125,000 miles on it. The guy who bought it was very happy with his purchase and I never heard from him again. Just the way I like it.

I got plenty of calls when my ad appeared in the local, statewide 'Bargain News'. I sold it to the second (serious) guy that looked at it. He was 30-ish, and appeared to be a nice guy that appreciated the car and came with the asking price in cash...always the sign of a serious prospective buyer. I gave him a test drive and he never even 'got on it'. I just wanted to unload the car before anything big went - like the heater core or a head gasket - that would cost me time and money to replace and cut into my profit, which was, all things considered, $3,000. I had not put any money into the Mustang for years (I hardly ever drove it the last few years I owned it) Although I was a fanatic about changing the oil & filter (every 2,000 miles) the spark plugs were almost 5 years old....but, even with the original 15-year-old factory starter, it started and ran flawlessly.

I loved the car and even as late as 2005, the 5.0 LX still commanded attention - but I had my fun with it (lots and lots of fun) and I really wanted to move on to a more practical car before the Mustang became a liability, as gas was climbling in price..even back then.

I sold it (for what I considered a very fair price) to a guy who was thrilled to get it. We both walked away happy. What more could you want?

[Mach 1]

mine had only around 85K miles on it.

Do I miss it? yes, all the time. Do I regret selling it? Not really. It wasnt enough a part of my life to justify its existence at that point

[69fastback]

This is kinda funny to me. I wonder what goes on in the world. You all make very valied points. I quess it comes down to weather or not it is worth it to you? I know it is still very worth it too me. Hell all my mustangs are really old according to you guys. I love nothing more than to drive my 69. It doesn't get any cooler than haveing and old big block. I don't get to drive my 91 because it is not smog legal. The 96 cobra is great a ten times better all around car, but not as fun. I have a wife and 2 young kids and a house. It can be done it is just up to you. My kids love the 69 by the way so all hope is not lost. Also the car club I am in is nothing but young 20 year old kids with old muscle cars. Fords, Dodges and Chevys all included. So you can't say all kids want a honda. There are lots of young kids driving around in 05 mustangs as well. Look around a bit and check things out open your eyes instead of just assuming. I do agree though newer cars are a hell of alot nicer. I just got ride of my 97 f-150 for a 2006 f-150 and it is ten million times better.

[Mach 1]

I want a 05' bad. They are just so cool looking!

Maybe ill pick up a used one cheap in a few years.