67 coupe New project? What to look for?

[craziejoker]

Hey guys, more info needed. A customer called me and has a complete 67 coupe for sale. He bought it over the summer and it needs more than he wants to do to it. The car is running and driving, but has some issues:
the 289 has a knock I dont really care about this as I am building a 289 anyway
the lh torque box is bad. Have heard and read this so I know its fairly common, but how difficult to fix properly?
Frame rail under battery rotted, from what I've seen, common also.
Rear sub-frame needs repair(rotted) but I plan to stiffen rear end up

He says its all there, all glass and interior.
I have been "lookin/drooling" for a while now, but right now funds are tight! But, I have to go look at it for the price he told me.
Is there anything else I should look for? problem areas that are a reall budget buster. I really am interested in this one for the price, plus, I could drive it a bit this summer and tear into it next winter.
The bonus: the lil missus has no problem with it as long as the funds r covered(means she pays no part)

I wont say how much he wants, I have been looking for a while, so I know what is fair. But, feel free to offer ideas of what it should cost.
Thanks

 

[kylehamilton79]

I paid $9K for mine 2 years ago for a car that ran good and was complete but just needed some freshening up (paint, bushings, carb, etc.). The only rust I've found so far is a couple of bubbles on the rear quarters. I guess it depends on what other problems it has and how weathered everything looks as to what you should offer. To me a project car that is complete should cost under 5K.

 

[robbz28]

I bought mine in september of 09 and it had rotted floors, rotten battery area, but the frame rails were in good shape, and the engine purred like a kitten. It drove OK, and the brakes were crap. But I got it for 2500 bucks. So For one in slightly worse shape body wise than mine was with a bad engine I wouldnt give over 2500 for it....they are all over craigslist around here from 2-4k in various restorable shapes.

 

[robbz28]

Just thought I would add....a rusted out torque box usually is result of a bad cowl leak, so that car probably has the dreaded cowl rot associated with old mustangs. And if you have read enough about these cars I'm sure you know what I'm talking about.

 

[craziejoker]

Cowl rot? I saw that but never paid much attention to the reading. How bad to fix? The guy selling restores these, but "this car is a pain in the a$$ that wont go away." So I know there is something else going on.
BUT
for $1500 I HAVE to go look at it

 

[robbz28]

Cowl Rot, water gets in the cowl vent in front of the windshield and instead of going to the outside of the fender like originally designed, it goes into the floorboard due to rusted out inner cowl. Years of leaves and dirt and crap rots out the inner cowl. This is a MAJOR expense if you have to have it done (in the area of 2,000) but if you do it yourself and have the time you can do it for under 500, or you can just simply cover up the cowl when you think it's going to rain. Or you can do like I did and just shave the cowl. Anyway, take a cup of water and pour in the cowl vent and see where the water ends up. You can look up under the dash on the drivers side and see a big black vent, take it and see if you can wiggle it and hear the rust crunching. Anyway, google cowl vent rust and you will find plenty more info.

 

[68RCodeConv]

In the long run it is better to buy one with a solid body as opposed to a rusty one. You might think you are saving money buying a serious project but you are wrong. And the time it takes to get one into shape discourages a lot of people and they give up. That's why there are so many projects fror sale. Pass on this one.

 

[robbz28]

68RCode is right...the only problem is if you do find what appears to be a decent one, sometimes you never know what is hiding beneath that paint. But most people would be waaaay ahead finding one that is in better shape, will save you half the money in the long run, great point.