My Project, Cheapskate... 87 Gt

I'm starting a thread where I can post a log of what I am doing.

Don't expect too much from this thread!
I don't do anything quick, and only get hobby money in spurts...
So this won't go like some of the other threads where guys get things done super purty and super quick.

I bought the car on a whim... it was cheap, and I just couldn't pass it up.
I was sitting on some money looking for a Fox, but really wanted an 86 T-Bird with 5.0.
This GT was $800 bux, and I found an 87 Turbo Coupe (actually much nicer/driver) for $900, but thought when it was all done, the Stang would be easier/cheaper to build, and more desireable when I was done. So Stang it was... without a plan whatsoever.

Details on day of purchase:
The car sat for years, was in a pasture when I bought it.

1987 Mustang GT
Bone stock
5.0 and 5 speed with 3.27 and Trac-Lok
Currently maroon, but the original color was white.
Gray sport interior with all the bells and whistles.
Someone took away the Turbines and replaced them with stock Ponies.
The rims are flawless, but probably going away in the future.

The only rust in the body is the top right corner of the hatch area, where the channel meets the roof. There is a rust through there about the size of a dime.
The rest of the rust is in the hatch itself, so it can be repaired or replaced seperate from the body.

The interior is in most need of a driver's door panel, and the driver's seat has a bad spot, which is common. The rest is nice.

The car cranks fine, and even runs if you manually intrduce fuel into the TB, but wouldn't start on it's own.

I will post for each thing I do, or expense... Mostly for my own logging.

Got the car up on 4 stands, good and high.
Checked the underside really well.
There are some bottom-out type dents to the underside.
The worst being damage to one of the torque boxes. Not really worried about it at this point.
The fuel tank is now out, and the pump was frozen, as well as the sending unit and pump hanger being severely corroded.
The fuel tank itself was great, but the baffle was loose in the tank. It looks like the baffle is epoxied in, rather than welded, as I would have assumed.
We decided to replace the tank and all the components, just to be done with it.
We got a Spectra tank, Spectra sender assembly, Airtex pump/hanger assembly, new filter and grommets.
Everything is assembled, and over the next couple days, we should have it installed.
I have a 3.55 geared rear laying in my shop, so I think I'll throw it in while the tank is out, just for giggles.
So, while it should only take a day to get the car off the stands, this will take a little longer. I have 2 other cars to work on, and the spare rear end will need cleaning up before it gets installed.
Total expense is now up to about $1250
I figure I'll spend another $50 today on paint, gear oil, Trac-Lok additive, and other sundries.
$1300

Boss 351 said:

That's like saying you have a pic of a chick with big knockers and not share it Pics? lol

Click to expand...

Well, the work of a father never ends, so the only pics I got today are of these:



I planned to work on Cheapskate today, but by the time I got my son's 13" brakes installed, I didn't keep going on anything else.
It's hot as blazes today...

Well, I got the new fuel tank installed today and finally drove the car for the first time.
It runs pretty good. There are 4 cats, but no mufflers, so it's loud, but not nearly as loud as I thought it would be.
The steering wheel is upside down when driving straight down the road. LoL!
It popped out of first gear a few times, but only when I was pedal to the metal...
Normal driving it didn't pop out of first.
Didn't pop out everytime I was hard on it either. I got a couple of nice burnouts in.

We washed all the pasture gunk off it, and it doesn't look too bad.
Other than the front and rear bumper covers, it is about a 20' paint job.
I took some pics, and my 2 sons were there, so they got in on the act.

The tires aren't all that great, but the Pony rims are nearly perfect.
What do 90% Pony rims go for? I have a couple people interested.

Bryan83taco said:

Looks good man. Ditch those cats, don't need them in Florida (as you probably know)

Click to expand...

There is no exhaust behind the cats, LoL, so they are acting as mufflers right now!
It doesn't sound too bad actually. Thought it would be louder.

StreetsideStig said:

That sounds like a pretty awesome deal. So weird about the steering wheel!

Click to expand...

It's got a long list of little items like the steering wheel, that need fixing.

Loose driver side fog lamp.
Passenger door glass, only glass not tinted.
No mufflers.
Passenger tailight needs replaced.
Driver's door panel needs replaced.
Driver's door handle chrome... needs painted black.
All gauges work now but the speedo.
No radio or dash trim around radio.
ECM laying loose on passenger floor.
So on....

Lots of little crap.


Oh, and it has an LX headlight switch... no switch for the fogs.
I suppose the original switch went out, and the switch without the fog control must have been cheaper, so a PO just put that in to save money.

I guess all this car's previous owners have been cheapskates! LoL

I won't have much money to work with on this, but I hope I do not do the car any disservice...

I had some work related business to take care of, and did not get a chance to install the 3.55 rear.
I have a T-Bird 8.8" rear with 3.55/Trac-Lok/Discs laying in the shop.
My son wants the rear discs for his Fairmont, but I figured I could take the housing and swap
over my axles/drum brakes/brake lines, and have a free 3.55 upgrade.

I put the 3.27/TL rear on Craigslist already for 100 bux.
Full disclosure that it needed the buyer's Fox axles/brakes.
Someone with a gear that is too high or too low, and is not comfortable with gear swaps should be interested.
Fingers crossed anyway. It will work on any Fox as far as I know.... which is good.