Questions about resale values of mustangs

[98V6 K.I.T.T.]

Hey guys, I've been pondering the idea of flipping some cars on the side. It seems that fox bodies (considering 87-93) are starting to show alittle bit of appreciation in value now. What are your thoughts on this? I'm thinking about finding ones that are in ok shape but need some TLC, like fresh paint job, minor body work, interior clean up, some engine work. On top of that, add a few things like an exhaust, nicer wheels/tires and perhaps a 5 lug conversion. It just seems that parts are pretty easy to find for these and relatively cheap especially used parts so if I can buy the car initially for cheap...let's say around 1K-2K, how would resale be? Is there a big market for nice conditioned Fox bodies and are people willing to pay top dollar for a nice fox? I know we are not talking about a real classic like the early 70's and older but it seems like this era of mustang is the newest "classic" mustang. I'm also curious to know if the 94/95 GT Cobra's will start to do the same as well because of the only 2 years of 5.0's with the SN95 chasis.

What are your thoughts? Good idea...bad idea? Not worth your time and effort?

 

[99GTtony]

It could be worth while. If I had a garage and some spare cash I was thinking of doing the same.

 

[charged9250]

As far as insurance/blue book prices fox bodies are not worth much but to an enthusiasts they could be worth some money. It all depends on the person.

 

[WaterPog]

body and paint are crazy expensive unless you can do the work on your own, stick to cars that are straight but could use some cleaning and buffing. Interior is a bit of work but not a lot of money and easy enough to referb yourself for most people.

 

[wythors]

Personally, I think you'd do better fixing them up as stock cars rather than modified. I agree completely about the body and paint. There's no way you could make any money at all unless you could do it all yourself.

 

[98V6 K.I.T.T.]

The body work and paint I honestly was considering doing myself, however that is if I could find a way to set up a paint booth and obviously do a good job. I've been running a small detail business so alot of paint I might be able to restore without having to repaint...but I don't know for sure if it's a great idea, it's been an idea that has been running in my mind. I hear of alot of people like fox mustangs and it's sad to say that I barely see really nice ones running around other than the ones I know personally. So makes me think if there were some nice fox's for sale that people would ****** them up. I'm not sure, but maybe if I can find one at the right price I might take a shot at it, if anything I'll wind up owning a nice fox body for awhile.

 

[fiveohwblow]

Honestly I already did this with an 89 GT. Father and I bought it for $500, spent $1800 and sold for $4500. Wasnt perfect but believe you me, $4,500 was a good deal. I sold it two days after posting it on Craigslist. Point is, it is definitely possible and worthwhile. I plan on doing it again when I get a little bit more time!

 

[84Gt350]

I have flipped countless cars in the 35 years I have been driving and can tell you to only buy the cars that have perfect bodys. You can put an engine or transmission in for $300 but can't paint one for $3000. Keep them stock as any mods will scare away 80% of the buyers. I bought my kids a 92 LX one old lady owner garaged it's entire life with 90K for $1000 because the check engine light was on and she couldn't pass emissions. It now has 130K and is still perfect. When you sell everything has to work including the AC or it will look like it's been neglected.

Dan