1989 Mustang GT (possible purchase/value ?)

blackgt460

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If there are any value sites out there please direct me (side from nada/edmunds/hagerty which I viewed) otherwise I'd like to share stats on this 1989 GT hatch I looked at today for value opinions.
-solid black/grey interior/5 speed/ 82000 miles allegedly/clean title
-solid body and allegedly no accidents and everything seems to line up right
-clean seats and dash but will need a massive carpet clean or new carpet
-all original parts down to the coil cover and distributor cap rubber cover
-runs and drives and felt pretty strong
-no mods nor did I see any
ISSUES
needs paint and typical window trim
original turbine wheels need acid cleaning or related service
needs tires/fuel gauge doesn't work and floating oil pressure (I know senders are common issues to cause this)
needs some suspension (struts/shocks and related bushings links joints etc)
sat at one point in a garage for 8 years as the current owner's brother used to own it from new and lost interest in it and didn't touch it for that long. New owner says it's been running for 2 years now and had head gaskets replaced after sitting due to milky oil on it's return to the road.

He's asking 6500 which I will not come near but I'm hoping for some reasonable offer suggestions to guide me. It's definitely a nice time capsule which is really cool but could be bad at the same time. Thinking if he accepted a low ball I'd always be able to move it for a few grand otherwise to meet somewhere in the middle of his asking and a low ball I should have him get some work done including a new state inspection. I haven't owned a fox since 2004 so I thank you for your time and look forward to guidance as I don't want to make a poor choice.
 
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91TwighlightGT

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That seems high to me. Depending on your area, that is generally the kind of money for a car that is more ready. The paint work alone will be costly, and if the carpet can’t be saved it is also a bit costly these days.

Assuming the oil pressure is a sending unit and not more sinister, it sounds like a 3-4K project car. Pictures tell a thousand words, though.
 

blackgt460

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Thanks. I was thinking along the lines of $3000 with a state inspection completed by the owner with a report I can view. It's expired 5/18 which means it went through 5/17 but I learned his son is a mechanic so it could easily be a sticker slap on. I feel like it's a $5-6000 when restored and totally road ready. If it were a 93 notch with black interior or something it may be closer to his current asking but an 89 GT I feel tops out only so high in the real world.
 

96pushrod

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$6000 for a stock fox with crap carpet and bad paint is at least double what I’d pay.

You can find some with at least minor performance/handling mods below $3000.

Any pictures of the car?
 

General karthief

wonder how much it would cost to ship you a pair
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82k mile driver thats stock as a stove in Pennsylvania that ain't rusted out? What you pay for it depends on what your plans are. Restore and enjoy, then maybe a few bucks less, modify it with a different engine and change out a bunch suspension and interior stuff? Maybe not be the right car at that price.
 

91TwighlightGT

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The picture quality doesn’t help, but if the car is really rust free (strut towers and behind the door hinges, as well as floor pans are common) and if the miles are truly only 82k (always very skeptical of this) then it would be a nice start for a project.

Can’t overpay, though. Too many nice ones for not much more money. Cheaper to buy nice than build.
 

blackgt460

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The idea is a little project and restoration in the form of paint and related cosmetics. Want a factory looking car so a set of pony wheels and tint would be the biggest appearance changer.

With newer cars like my 06 and 04 I have a habit of rushing through bolt on and a tune then selling out of boredom cause the next steps become pricey. My first car was a fox and over the last year or so the passion is coming back and the idea of saving a quality one excites me. But I am a family man and budget matters so I’m deciding on reliving the Fox and how to approach such as restore or spending a little more for a true survivor or just grabbing a solid new edge.
 

BlakeusMaximus

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I would look that car over throughly for rust, especially being a Pennsylvania car. I paid almost 3k for my rust free 88gt about two years ago, bone stock, Southwest car, 109k. It needed a few things, nothing major. I with everyone else. 3-4K max. 4k is a little high.
 

Mustang5L5

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Up here in the northeast, many fox mustangs have rusted out and gone to the big junkyard in the sky. A stock, rust free, 82k mike fox could sell for $4-5k or so easily. More of it was in better shape than that one Is.

Every time I get the itch for a second, driver fox, I turn to the local CL and see basic stockers for $8k. I then look at sn95s which are priced way less
 

96pushrod

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Up here in the northeast, many fox mustangs have rusted out and gone to the big junkyard in the sky. A stock, rust free, 82k mike fox could sell for $4-5k or so easily. More of it was in better shape than that one Is.

Every time I get the itch for a second, driver fox, I turn to the local CL and see basic stockers for $8k. I then look at sn95s which are priced way less
I remember 3 years back I picked up a nice 4 eye with a mildly built 302 (306) and I paid $2000 for it. Paint was decent, body straight, and no rust at all. All it needed was some new carpet.

Cheaper foxes can be had, sometimes you just gotta look awhile. Sadly most tend to be wiped out if they’re less than $3k.

I like the sn95s as they’re more comfortable to drive and they can be made to look mean.
 

JasonRP

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That looks pretty nice to me. I paid 2k for my 1989, black, same rims. My car needs a ton of work, and has rusted through floorpans. I was happy with the deal I got. Now, I may have overpaid (I was happy to get the car!), but, 3k with state inspection seems to be asking for too much give from the seller in my opinion. You can hold your ground at 3k of course, but you probably won't get that car is my guess. Maybe start with 4k, and it may cost you up to 4500 out the door? If his son is a mechanic, perhaps get him to replace the oil sending unit so you can be sure on the oil pressure?

EDIT: Maybe PA instpection is a lot more lenient? In MD, they pretty much measure EVERYTHING, and it is a huge ordeal to get through it...
 

blackgt460

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I appreciate and have the same mindset and the suggestions all of you have made. It's the kind of car where it is walking the fine line of making a bad purchase or letting a good one go. The main thing is I'm not going near 6500 for an 89 GT. There's a mint 50K mile garage kept reef blue GT 2 tone around here for 10K. I'd go that route before paying 6500 plus resto on an 89. I think I'm going to offer 30 $100 bills for it inspected. Everyone sells for a reason which is money or getting started on their next project. He claims it was just an oversight that it's expired so if inspection holds him up which is only like $85 not the offer as a whole I'll know something is up. Making the offer tomorrow and perhaps I'll be posting a build thread by Friday.
 

deathb4dismount

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Up here in the northeast, many fox mustangs have rusted out and gone to the big junkyard in the sky. A stock, rust free, 82k mike fox could sell for $4-5k or so easily. More of it was in better shape than that one Is.

Every time I get the itch for a second, driver fox, I turn to the local CL and see basic stockers for $8k. I then look at sn95s which are priced way less
I think you can get more for your money with an sn95 5.0 now. I know they are the redheaded step child of the era but they need love too.
 
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Mustang5L5

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I think you can get more for your money with an sn95 5.0 now. I know they are the redheaded step child of the era but they need love too.
Exactly. I've all but stopped looking at Fox bodies because a good clean car is just way too much money up here. Sn95's are the bang for the buck car today, especially the 94-98 Cobras.
 

Boostedpimp

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If you can verify the miles are correct, truly rust free and completely stock then it's worth it. Being in NJ I see nothing but crusty ragged out foxes selling in the 3k area as well as mint 4 cylinder coupes pulling 4k
 

deathb4dismount

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If you can verify the miles are correct, truly rust free and completely stock then it's worth it. Being in NJ I see nothing but crusty ragged out foxes selling in the 3k area as well as mint 4 cylinder coupes pulling 4k
I've always wanted a fox coupe but those are becoming unobtaimium around here. I'll probably have to find a roller and swap over the heart from the GT
 

Mustang5L5

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deathb4dismount

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The second ad made me laugh. "easily a 10k car after paint." yah, after you spend 10k getting it painted.
 
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