Mustang Newbie

[psychobob96]

I'm looking at buying my first mustang, not haveing much experience with classic cars I'm not sure how much I should be spending for it. My wifes brother(I guess that would make him my brother-in-law) is selling his 64 1/2 coupe with an I-6. the body is in OK, shape, but the paint is oxidised pretty badly, it's also not the original paint(it's red, it used to be white). it has been sitting outside the last two years, and has not run for 10 because of electrical problems. There is also a tear in the uposltry, and the hub caps are missing. He is asking 6000, I think he's nuts, but I was wondering what a suitable price was. i was thinking3500-4000, if that's wrong, how much is a reasonable price?

thanks in advance
bob