What to do with $2,500?

Okay, here is the scoop:

I have a 1995 Mustang V6, automatic. The engine has been replaced 2 times under warrenty. The car is paid off, but no dealers will buy it 'because of the 3.8 engine problems' that are well known for that year. I blew the heads on it, thats why the engine was replaced. Anyways, I know I will blow the 3.8 again if I start driving it.

I wanted to take out a small loan to put in a V8 in the car, this should help increase the selling value, and I dont trust that 3.8. So I figured $2,500 would be enough to get a crate engine and maybe the install + extra parts.

The question is, first off is $2,500 going to be enough or should I expect to take out more, I dont want to have to goto the bank twice.

About how much should I allocate to:
The Engine itself,
Suspension things,
Computer changes,
and maybe something to help that 7.5" in the rear, I don't plan on taking it to the strip, or putting in any big power adders, or big tires, so I though I would be safe with the 7.5" for a while.
Will the automatic tranny that is in the car mate up to a 5.0?

Thank you guys, I want to have a part list ready before I goto the bank and ask for money, might be 2-3 weeks untill I get that far.

Well, I live in an apartment building now, and will for another year. I wanted to get a garage here for it, but thats just for parking it. I also don't have enough tools to complete the job here. It would have to be done by someone else, and I don't have enough trust in any of my mechanic friends to get it done right 'in there own time', on my time.

I wanted to do the suspension first, because the passenger side shocks and struts are sagging. I know people reporting paying around $100 / hr labor for shops in my area, how many hours should I expect to have it out? I also know places about 2-3 hour long drive from here where shop labor is alot cheeper.

I dont think I will want to spend the time on building a quality engine off a block, I think I will have to start paying the load back right away. With an apartment, I'm not going to be acrost the lot in the cold garage this winter putting it together. So I think its going to be a crate engine, I have seen them advertised as such from $600 (ebay) to $1,600. The engines that were in that range seemed to be fairly complete, and a stock engine is fine, as long as its got new gaskets, or has been somewhat rebuilt.

Lets say I have new exhaust headers for the v8, the factory v8 computer, and I had the crate engine shipped to the shop directly. What can I expect to be missing from a crate engine? Should I expect to get new TB & MAF, the intake airfilter I think is obviously needed.

I really don't want to come up short and have to spend $x00 on something critical when the car is getting done.

mackey said:

crate engine for 1600$? Are you sure?

Click to expand...

No, I guess I'm not. Maybe I'm getting rebuilt and crate mixed up.

So there go's the rebuilt engine idea, seems just too costly. Alot of other people seem to have had good luck with buying a GT what was in an accident, and just pulling the engine. That way all the required parts would be there in most cases. I have come up with a list of what I think I need to buy, so here is what I came up with:

FORD RACING SPORTS HANDLING SPRINGS
88L204 Sport Springs $172.95
http://store.cal-mustang.com/cm_able/showdetl.cfm?&DID=7&Product_ID=3926&CATID=20&CM_SA=0

KYB HIGH PRESSURE GAS STRUTS AND SHOCKS
88L236 1994-2003 all $86.98
88L237 1994-2003 all $79.95
http://store.cal-mustang.com/cm_able/showdetl.cfm?&DID=7&Product_ID=3937&CATID=20&CM_SA=0

RADIATOR,94/95 3.8L/5.0L & 96 3.8L
Item No: 2356 01 Price: $139.95
http://www.mustangsunlimited.com/it...y=Heating+&+Cooling&subCategory=&CatKey=74-01

HOSE KIT,RADIATOR 94/95 5.0L (EXC COBRA)"GOODYEAR"
Item No: 5012 01 Price: $99.95
http://www.mustangsunlimited.com/it...y=Heating+&+Cooling&subCategory=&CatKey=74-01

BBK SHORTY HEADERS
89L269 1994-95 chrome $199.95
http://store.cal-mustang.com/cm_able/showdetl.cfm?&DID=7&Product_ID=3907&CATID=20&CM_SA=0

WIRE SET,IGNITION 5.0L/5.8L FORD RACING BLUE 9MM
Item No: M12259C301 01 Price: $44.95
http://www.mustangsunlimited.com/it...egory=Engine+&+Fuel&subCategory=&CatKey=74-01


======================
$2,500.00
- $806.68 above parts.
---------
$1,693.32 remain
~$800.00 GT smashed
---------
$893.32 remain for labor.

How does that sound to you guys?
If I found the GT to have a manual, what extra stuff would I need to transfer that too, I dont need it to be a manual, but if its there, and easy to bring with, why the heck not then.

Thanks for all the help!

WHITE94COBRA said:

Sell the V6 for 1500 - 2000 and buy a V8 for around 4000- 5500 why even waste the time with it. Just my opinion.

I mean sell the V6 car and Buy a Gt.

Click to expand...

I thought about that, heres a little break down:

1) I would have to sell the V6 prior to buying another car. remember, I have to take out a loan for (a small ammount of) $2,500. If I were in the position to buy a GT, then I would have $2,500 down.

2) V6 is paid off, a loan for $2,500 would be a small monthy payment.

3) Lets say I sold the V6, bought a GT, now I need full coverage on a car with a lein on it. With the V6, I can do whatever kind of coverage I want, I think it will save money.

4) Tax, Title, and License.

5) The unknown condition of someones car. I have had this V6 since 2000, and I put on all the miles from 33K to the 88K now. I know what has happened to it, and I know what it needs fixed.

I really wish I could get a 'new' GT, I just do not have the ability to buy one. I would have already if I could