Canadian value for 89 5L Stang???

[lowblackdub]

Hey guys,

I'm looking at picking up a 1989 Mustang LX coupe - it's a 5L and a southern car (came into Canada sometime last year). I have no clue what Mustangs are worth and I want to know if this one is worth my while. Here's the description:

1989 Mustang 25 Anniversary LX coupe 5L with 5spd.
Underbody is in mint condition - no rust at all
Subframe connectors welded in
Paint is faded and needs a respray
One small spot of rust on the hatch
Needs new rear 1/4 window seals - they are weather cracked and PO has painted them (looks crappy)
Interior is in great condition (power windows and lumbar seats)
AC has been disconnected
60,000 miles (original mileage)
4:10 gears in 8.8 rear-end,
2 1/2" cat back with 40 series 2 chamber mufflers,
Has two sets of wheels (GT turbine rims) and also comes with LX rims and some spare parts including an intake kit, a GT wing, etc...

Car runs incredible... drives nice too - but has a check engine light on, has an off-centre steering wheel. What is the value of this car as it sits (needing paint)? And what would the value be of it if the paint was in excellent shape? Please help me out, I want to make a good decision.

 

[Stangfreak95]

I dont really know the value of THAT car. The prices are different depending on the region beleive it or not. Toronto has Fox body stangs selling for way less than over here in Ottawa. Did you check autotrader.ca to compare prices ?

 

[Keasbey]

Stangfreak have a point, but I would say around 4k-5k..

 

[Enginerd]

Ya, definatly around 4-5k. Might get lucky and get one for less. But I bought almost the exact same car and got mine for 4700 e-test and cert.

 

[Gearbanger 101]

Yep.....depends on the area. I sold my mint '87 LX last summer here in Northern Ontario with 135k on it for $6,000.00. The girl who bought it came in from Oakville and couldn't believe I wanted so little for it. According to her, most of the Fox bodies down South were either run or rotted to death and some were asking as much as $8-$12K for them with over 200km on the clock.

I dunno....I didn't think I was asking too little for a 17-year-old car. I just think that most of the time, it's a case that Mustang owners thinking that their particular car is gold and worth far more than it really is. It’s funny to see some of them doing the math in their head, when they try to justify wanting full value for an aftermarket exhaust system or set of heads they installed 5-years-ago…and then figuring the cost of labor to do so into their asking price as well. Some people just have no clue. Hell....when I picked up the sellers package for it, the wholesale value on the car was only worth about $1,200.00. I thought I made out OK. I was happy with what I got for it and she was happy with the car.