RANT!!! Is this guy crazy for his asking price?

Vondy

New Member
Nov 28, 2021
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New Jersey
Hey all,

Just saw something really cool on marketplace, a high mileage coupe that I would love to turn into a project. One problem, though. The guy is asking for $14,000 on a high mileage car and there is some floor pan rust. He has some mods done to the suspension and clutch but nothing much else. Personally I think that this is an outrageous price but am I just lowballing it? It's the exact color, body style and transmission I've been looking for and it's close to where I live. What would y'all offer him? I was thinking 6-7 grand at most.
 
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I mean, we’d have to see the car to really offer an opinion on value.
Sadly he didn't show the rust in the pics so I wouldn't be able to tell how bad it is unless I saw the vehicle. Otherwise though, it's pretty clean aside from the motor.
 

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If I were hunting, I'd be in the 6 to 8k range on that car and that depends on what it looks like when I got to look at it.

It appears to be complete. That is getting harder to find anymore.

Any wrecks, subframe damage, or worn-out torque boxes, would change everything.
 
You can thank echo chamber Facebook groups full of flippers for this. That cars been listed off and on for a long time good luck offering half price I doubt it will happen. If that's the same emerald coupe I remember its all ready had one piss poor floor patch job they tried to hide with under coating.
 
I'd guess $10k. I don't think you can hardly pick anything up for $6k that isn't absolutely falling apart... especially a coupe.
I dunno man. I sold a No Rust, Never Wrecked, 89 not long ago for 2K. :shrug: It had a cobbled-together 302 that ran (I stuffed it in there so I could move it under it own...).

Some suspension and driveline track mods (MM stuff) spool/4:10s/Draglights and I had a hard time selling it. I thought I was giving the thing away. :shrug:
 
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It’s a nice complete car. I’d have to see the floor pan rust. We talking fred flint stone rust? Or wire wheel and POR15 rust?

If it’s had a prior shoddy patch job, I’d have to evaluate my time in removing it to install a pan. My labor ain’t cheap either….
 
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What is your definition of “some floor pan rust?”

It’s a v8 manual coupe, with what appears to be decent paint and body, and a good interior color. Not sure where you’ve been the past 4 years, but those cars are selling for what he’s asking. Far as mileage goes, 98% of foxes on the road today are going to be getting up to the 200,000 mile range. It’s just something you’ll have to deal with.

If the underside isn’t a complete disaster it’s not a bad car.
 
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I'd guess $10k. I don't think you can hardly pick anything up for $6k that isn't absolutely falling apart... especially a coupe.
Agreed. I haven’t seen any running Fox bodies for sale for less than $7000 in the last year and a half or so. I’ve seen other used car prices coming down slowly but Fox Mustangs still seem to be in a bit of a bubble.

From a quick search a minute ago:
29F9C109-47CF-4099-97BF-232A566949B8.jpeg
 
I wouldn’t part with my Coupe for less than $25K but I’m kinda partial to it and I’ve never looked at it as an investment. With all of that said cars are worth what someone will pay. Go see the car and look at the typical places for damage: floor pans, torque boxes, shock towers, rot under the battery box, rust under the door hinges, etc. Make the guy what you think is a fair offer and if he turns it down he turns it down.
 
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If he says there's "some rust" there's more hiding than you'll know about. Hell, my car was in TX it's whole life as far as I know but had even more rust than I knew about on the floor pan, the door jambs, rockers, cowl. That said you won't find a coupe that complete local to your area rust free for even that price, while I think it's high, they are getting harder to find and I don't think it will lose value unless there's a TON of rust.
 
Clean foxes are expensive, but they're also worth it. Just to put this in perspective, I bought a car I used to own (Black Jack) back from the guy I sold it to for a song, an absolute steal, at $3,800. It ran and drove nicely, and aside from a badly mangled sound system installation/removal he did that caused a lot of electrical problems, it just needed fluids. But, I decided to go through everything and make it much nicer to daily. I didn't want $20k+ cars like my other two foxes. In fact, my biggest expense to date has been a pair of $600 TMI door panels that are lovely. Now, I've got ~$9,300 in the car altogether. The only work I paid for was welding in my exhaust pipes, and collectively there's a couple hundred hours of work in it. It's come an amazingly long way, but I've mainly only made the car more reliable and the interior's a nice place to hang out. That's how important buying a clean car is! You might think you can just fix it up and make it nice for cheap, but unless you have a junkyard full of foxes next door, or you're dedicated to finding cheap parts on the marketplace over the next century, it's not going to be cheap to make a rough car into a nice one.

Mine already had a nice GT40X/E-cam/GT-40 intake combo, so I didn't need to make it a performance project. It fits what I want in a daily driver Fox and I had the benefit of knowing the aftermarket parts were in good order when I sold the car to him in 2017. Aftermarket parts usually hurt the value and they scare buyers away. BTW, I sincerely doubt you will find a Black Jack (mine) out there with a nice H/C/I without drivetrain problems for $3.8k. I still can't believe I got it back from him for that. But the point is... after making it nice, I know it wasn't worth it from a utilitarian standpoint. I'd have been better off buying a $10-$15k car that was lower mileage & cleaner in the first place. I don't regret it, because I love this car, and my story with it! But, you should go for a clean one and you should pay good money for it, if you can afford to.

So, in today's market, it seems like you have a choice: 1) buy a cheap, ratty car to beat on/drive around and don't fix it up beyond what's necessary to keep it going, 2) buy an expensive, clean car that doesn't need work, or 3) buy a cheap ratty car that you make expensive anyways and still don't have what you could've bought for the same amount of money in the first place. Pick your poison. So, if you don't like this particular notch that you're looking at, foxes are still all over the marketplace and you'll find another. My advice is to pay good money for a top-notch Fox that's built fairly close to what you want. If you take care of it, you'll get most of your money or more than what you paid back out at the end. If you never sell, then you'll appreciate having the beautiful car.
 
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wait a few months. used car prices are coming down and all that Stimmy money is gone. Be VERY careful of anything on FB or CL- probably being flipped for the 3td time and/or a salvage or wrecked car cobbled together.
 
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How about this one for $10k?


Seller's Description​

1988 foxbody mustang ssp was a old fire chief car in Florida heat and ac work good 5.0 bored 40 over, b303 cam, gt40 heads, eldebrock intake, tuned, new t5 trans with stage 2 clutch have original hood seats and different gear for the rear. May trade no bikes will not respond to is this still available

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