86 project car ??

Resvon

Resvon

Beyond a n3wb
#1
#1
My english professor just told me ( after I told him i wan't to do my research paper on mustangs ) that he has a 86 foxbody vert that he wants to sell.

Miles: Between 160,000 - 200,000. He didn`t know it's his wife's car
Transmission: Automatic and it slips
Surface rust I believe he said on the chassis.
The ragtop was cut ( vandalized in new york ) but it doesn't leak.

That's pretty much all I know right now about it. How much would this car be worth if I would buy it ?
 
1990_LX

1990_LX

Clubhouse Moderator
#3
#3
Where would you have the place and tools for a project car? No offense but you need a decent amount of money, tools, and knowledge when you get into a high mileage 20+ year old car. Ask me how I know....

EDIT: by the sounds of it it sounds to be about a $500-$750 car, at least around where I live...
 
Resvon

Resvon

Beyond a n3wb
#4
#4
Well I`m in no rush to get it fixed.. I have a 2 car garage here.. I have a pretty big tool collection lol i bought alot of stuff everytime i ended up in pepboys or home depot =\. Plus the stuff that was already in the house when we bought it ( and yes i know i`ll need alot more ).

Again, I would be in absolutely no rush to get it fixed and it would be a nice little project for me dad and brother to work on together.

Also, my friend rebuilds engines and trannys so i could get it done cheaper. I would need the crane thing to pull the engine out though lol. That's not the problem right now.

From my understanding, he needs to get it out of his driveway. Also that it is driveable as is, even with the transmission so I wouldn`t have to pay for towing to drive it to my house.



EDIT: I`m gonna go see it sometime soon and take pictures and show you guys here.
 
AdirondackFox08

AdirondackFox08

Member Plus
#10
#10
I thought you said in the other thread that you didn't want a fox? I definitely wouldn't consider buying something like this. Sounds like a major project. If I were you, I would go after something in better shape so you can spend money on other stuff. And where there is rust, there is usually more rust laying beneath the paint... There are many foxes for sale in your price range, that have some mods done to them and are in pretty good shape.
 
Resvon

Resvon

Beyond a n3wb
#13
#13
I wouldn't touch anything but a 5.0. And this wouldn't be the daily driver this would be just a project car laying around I still need the new edge. Ill take a look at it anyhow, especially since he's my professor lol

I said I wouldnt get a fox as my only mustang.. but a second stang would be a fox
 
ponyboy289

ponyboy289

Classic Mustang Guru
#16
#16
I'm a big fan of projects. That said, First I'd go look at it,but I wouldn't make an offer on it, It's his car,he knows all about it,needs it gone,etc. I'd let him say a price. I always make sellers quote a price,because it's either unrealistic and I walk or it's reasonable and I can still make a lower counter offer.Very often when someone needs a car out of their driveway they usually say take it or let's say $100 to make it legal.Either way I'd say $500 tops.Once you have it,I wouldn't go nuts taking it apart or anything like that I'd do one thing at a a time as I go. The biggest thing and sorry to say this I love all things Mustang,but 86's are a little tough especially automatics.You can very easily wind up spending way more on this car than it will ever be worth ,even if you don't ever intend to sell it,it's always good to keep that in mind.Every car is an investment and at $500 you have very little down side,if you get sick of it you could flip it for a minimal loss or part it(I'm not a big fan of cutting up fixable cars) out for a profit.

It's a v8 vert, that could be a nice cruiser and I know you're young ,but depending on your age the car is old enough to qualify for classic/collector insurance. Currently I have three foxes insured for a total of around.......ready for this $300 for the year. Yes 3 cars $300 total.
 
T

TERROR

Well-Known Member
#18
#18
" surface rust on the chassis"

either looks over it real closley or look for something else, they like to rot around the torque boxes and shock towers. what looks like surface rust might be rot..better off looking on craigslist you can score a much better deal on a project
 
T

TERROR

Well-Known Member
#19
#19
ponyboy289 said:
I'm a big fan of projects. That said, First I'd go look at it,but I wouldn't make an offer on it, It's his car,he knows all about it,needs it gone,etc. I'd let him say a price. I always make sellers quote a price,because it's either unrealistic and I walk or it's reasonable and I can still make a lower counter offer.Very often when someone needs a car out of their driveway they usually say take it or let's say $100 to make it legal.Either way I'd say $500 tops.Once you have it,I wouldn't go nuts taking it apart or anything like that I'd do one thing at a a time as I go. The biggest thing and sorry to say this I love all things Mustang,but 86's are a little tough especially automatics.You can very easily wind up spending way more on this car than it will ever be worth ,even if you don't ever intend to sell it,it's always good to keep that in mind.Every car is an investment and at $500 you have very little down side,if you get sick of it you could flip it for a minimal loss or part it(I'm not a big fan of cutting up fixable cars) out for a profit.

It's a v8 vert, that could be a nice cruiser and I know you're young ,but depending on your age the car is old enough to qualify for classic/collector insurance. Currently I have three foxes insured for a total of around.......ready for this $300 for the year. Yes 3 cars $300 total.
Click to expand...
i dont know of any classic car insurace companies that will insure a car to anyone under 25, if you do please let me know
 
ponyboy289

ponyboy289

Classic Mustang Guru
#20
#20
TERROR said:
i dont know of any classic car insurace companies that will insure a car to anyone under 25, if you do please let me know
Click to expand...

Nor do I, But being that I don't know his age? I suggested it as a possibility.Of course personally I had classic/collector insurance when I was under 25, I had it under my parents names(complete non car people),but I know the companies are stricter these days,I was also the type of kid that didn't let my parents drive my cars because I didn't feel they would treat them properly. It was actually pretty funny we used to have the total role reversal,I would scold my mom for having accidents stuff like that.LOL.
 
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