'67 Mustang: To buy or not to buy?

Szlachcic · Jun 21, 2006

I have recently found a '67 Mustang for sale nearby and am thinking about buying it as an investment. It is only the 6 cylinder model but it has the original engine with 90k miles on it and everything about the car seems to be in really good condition including the paint. Like I said, this is purely from the perspective of an investment so I was just wondering if it being a 6cyl would detract much from its worth or would the fact that it is an original engine would overcome that. I was also wondering how much I should haggle on the price. They want 8k for the car, but I really have no idea how much it is actually worth. Also can anyone share any tips on checking for potential problem areas before buying? Any help would be greatly appreciated.

68keyblr · Jun 21, 2006

6-cyl coupe as an investment probably won't outperform your 401k.

Even though our classic stangs do increase in value, I think it's a mistake to look at them as investments - you just don't get the money out that you put in. And unlike a real (good) investment, it takes time and money to keep a classic Mustang's value up.

68keyblr · Jun 21, 2006

In terms of what to look for if you really want to buy it, check for rust:
- Cowl area under the dash
- Under battery tray in engine bay
- floorpans
- bottoms of doors
- Trunk
- Frame rails

I also like to pull the plugs to see how its running. Compression check wouldn't hurt either.

For a 6-cyl coupe, I'd pay around 5k for excellent condition

RedGTvert · Jun 21, 2006

68keyblr said:
Even though our classic stangs do increase in value, I think it's a mistake to look at them as investments - you just don't get the money out that you put in. And unlike a real (good) investment, it takes time and money to keep a classic Mustang's value up.

I agree and dissagree. Depends on what you buy. There are some cars out there that will outperform most investments over the next year, the problem is, the cars that will perform will come at a steep price to begin with.

I can tell you from experience the past year, that I have had to pay some pretty stiff cap gains.

68keyblr · Jun 22, 2006

I'm sure some cars out there will outperform traditional investments, just not a 6-cyl coupe

Unless you buy the right car in perfect condition, it's pretty tough to come out ahead after putting in all of the time and money to make it right, unless you hold on to it for a long time (at least in my experience).

My wife's '67 vert goes up about 10% a year in value, but I usually end up putting more than that into it each year just doing little projects on it. Heck, I laid out over $500 just doing the drum brakes! Of course, had to POR-15 everything and replace the rubber lines and some hard lines, but that's part of the deal with an old car. Even the nice ones usually have an endless supply of things that could use replacement or refurbishing.

I guess my point is that you have to get exactly the right car in the right condition to really realize the investment potential. On the plus side, you avoid taxes when you cash in

Szlachcic · Jun 22, 2006

68keyblr said:
I'm sure some cars out there will outperform traditional investments, just not a 6-cyl coupe

Lol, thats all I needed to hear. Thanks a lot for the help guys, it had just recently gone on sale, but I hadn't found out that it was only a 6cyl until the other day so I needed some advice. I don't really need one as an investment, I guess I wanted an excuse to have one in the garage. I will probably wait a while and get one down the road because I definately want a classic mustang. Thanks again.

Carls69coupe · Jun 22, 2006

If you were just looking for an excuse, then go ahead and and pick it up if the deal is right and you like the car. With a classic mustang, original is not the only way to go, ever hear of restromod, you can create your ride the way you want to enjoy it and that is really the key to enjoying the hobby

krash kendall · Jun 22, 2006

If you get it for a couple grand less and it is in really nice shape, I bet that torquey little six would be a blast to cruise around in.

Szlachcic · Jun 22, 2006

Carls69coupe said:
If you were just looking for an excuse, then go ahead and and pick it up if the deal is right and you like the car. With a classic mustang, original is not the only way to go, ever hear of restromod, you can create your ride the way you want to enjoy it and that is really the key to enjoying the hobby

If i pick one up for myself, I will probably do a restromod since it would just be for fun.

68keyblr · Jun 22, 2006

Don't get me wrong, I'm not dissing the 6-cyl coupe! My wife's '67 vert is is a 6-cyl and it's a blast! If it's a good rust free car and the price is right, go for it. If you decide you want a V8 later on down the road, it's not all that bad to convert later. The bottom line is, if you buy it to have fun and enjoy you can't go wrong...if you buy it for an investment, you may or may not actually make any money from it.

Fiasc0 · Jun 24, 2006

Is it a fastback or a coupe?

'67 Mustang: To buy or not to buy?

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