Would you buy this car for $1000?

[1TRIKGT]

My roomate just offered to sell me his 89 mustang GT with a built 306, welds,4:10's, but the car doesnt have a title and the engine isnt running right now. It turns over fine but wont crank, my roomate was messing with the timing when it stoped running so it should be an easy fix. If he is willing to go through with it, Im getting it for $1000... I was thinking of yanking the power train out of it and putting it into my 95, computer and all. What do you think?
As for the body, I could try getting a new title in the future or build a motor for it later on and build a race car.
If he doesnt go through with it Iv allready talked to Pokageek about driving up to see his 306

 

[drakesdad]

I'd be all over that........you can part it out for a profit with the 306 and welds for that price plus whatever else.......or use it........

 

[94gts]

if you dont i will, seriously

 

[HISSIN50]

Agreed.

 

[95Mustang302]

if you don't can I have his number, LOL

 

[BlownFiveLiter]

I might be inclined to pass because of the no title idea, unless your friend does have one, but lost it? It's pretty simple to apply for a lost title otherwise.

 

[trav_19]

with no title i would just turn it into a track only car.. or use everything you want out if it on your car and part it out. im looking for welds and 4.10's myself so you know others are im sure you could get a grand out of it parted easy

 

[MI95Cobra]

you can always title 42 it....or file for a lost title...

 

[BlackVert]

i'll take it too, if you decide to pass on it. i'm nearby, in bethesda maryland

 

[Therian]

who cares about the title...the engine is worth far more than $1000. The rest is just a bonus.

 

[HISSIN50]

I might change my opinion a bit after Matt and others made me think of something I might have missed. I thought the title was simply lost (but the car is titled to your friend). If so, have him get a title before the sale.

If not, and the title is in the wind, I'd pass. No way would I touch a car that was titled to someone else! It seems to me that stripping parts out of it is tantamount to chop-shopping it.

Good luck.

 

[1TRIKGT]

No... theres no way for me to get the title for it, hes been trying to get it for years. What trav 19 said is what I was thinking about doing... pulling the drivetrain and keeping the body to turn into a track car, all I would have to do is build a motor later on. If Im not able to keep the body though, for storage reasons.... I know that I can sell it as a parts car, track car, or strip it and make back the $1000 Ill be paying for it easily. I would like to be able to leave it as is though if Im able to somehow title it, MI95COBRA what is a title 42? I know about mechanics leans that can get a new title issued for it but I owould hae to find a shop willing to do it. If I do decide to pass it on, you guys will have first dabs at it but it will only be a rolling chassis.

 

[BlownFiveLiter]

Well, I'd be asking some important questions to your friend if it were me in this situation. No title and has never had one can only spell disaster if Johnny Lawman catches wind of this. Just because you get a bill of sale from said friend/roommate doesn't necessarily mean it's legal, and the previous owner who still holds the title still legally owns the vehicle. If the car was considered destroyed/rebuilt, there may be a salvage certificate issued with no title because the car can't legally be titled and registered for street use. Your friend may be on the up and up, but the person he obtained the car from may not have been. Regardless of the situation, you could potentially be charged with felony receiving stolen property, if the car was reported stolen in the past. I'd pass on this deal no matter what the circumstances, unless a title/certificate of salvage can be obtained. Even if you pulled the drivetrain and tried to sell the shell either to a salvage yard or to someone else, the same conditions apply, and the yard wouldn't accept it without the proper documentation.

 

[drakesdad]

If you do know someone who owns a tow company or repair shop they can file for a title.....I don't know if it is called a salvage title...but there is a guy I work with that had it done..........

 

[1TRIKGT]

If you do know someone who owns a tow company or repair shop they can file for a title.....I don't know if it is called a salvage title...but there is a guy I work with that had it done..........

Thats what I was thinking about doing once I move back to Miami...

My roomate had the title before and the car is in his name but he got a loan out on it to purchase two more vehicles

 

[BlownFiveLiter]

If he has a lein on the title, the bank that currently holds it won't release it unless the loan is paid-in-full. Having someone who owns a salvage yard or tow company attempt to apply for a title will result in them having to contact the leinholder, who will deny the request. Your friend doesn't technically own the car, so even if he did sell it to you and he were to default on the loan, they could repossess the car from you.

 

[drakesdad]

Now that information changes my opinion...........if he owes money on it I wouldn't do it.........................you will get screwed in the long run.......

with that said......."IF" he pulled the motor and weld rims and sold them to me I would have no problem giving him 1K and he can do whatever with "the banks" car......