TheBeefBaron

I would probably fix it up pretty quick. I would probably give it to a shop just after buying it for an engine rebuild and then find all of the replacement parts I need while that's happening. Once it's all working right I'll start working on the interior and exterior.

TheBeefBaron

I want a car to wrench on, but I haven't worked on old cars to be honest, but there isn't a better way to learn than just buying one and working on it. I've worked on race cars in the past and my day job involves working on helicopters. Hopefully I can figure out everything I don't know on the way, and when I run into problems I've got friends (and hopefully helpful people online) that I can ask questions to.

GT350R Klone

First off, I think you are going about it the absolute right way. I would really inspect the car for rust and hidden damage. I think there is also room on the $3K.

Here is what my budget would look like.

Towing/Registration/taxes: $400
Engine: $2000
Trans: $600
Other drivetrain: $500
Interior: $600
Paint/Body: $5000
Tires: $400
Weatherstripping, window seals, gaskets: $500
Miscell: $1000

So...I'd say approx $10-$12K to have a real nice car and a lot of work. I think it is a worthy project. A true Mach I, done stock and nice is a $18-$25K car in today's market.

Go for it. Get hooked!

GT350R Klone

On my project cars (pure hobby and enjoyment) I keep track of every penny spent. I do everything that I can do myself. On this project I had the following done outside: body paint, engine machining, trans bearings replaced. Everything else done in my garage. Here is the before / after and a list of my expenses. I summarized the lower $ items because it was 100 different purchases.

Car needed engine/trans rebuilt. Body was rough, some interior missing, but a lot usable too.

Bottom line is I put $13K into the car, $11K net after I sold some parts. I made a few mistakes (like the exhaust) that cost me a few hundred dollars, but for the most part, I executed it pretty well.

TheBeefBaron

That looks fantastic, I was worried I was drastically underestimating, but this seems like a reasonable project, and your results are much, much nicer than I was hoping for. How much did you do yourself? I'm expecting to have the engine and transmission rebuilt professionally, and maybe a paint job farther down the road, but I'd like to do almost everything else myself. Judging from your expenses, your project seems very similar, although you also had a muffler install. Is there anything else you would recommend having done by a professional? Thanks a lot for the help.

N1Rigger

I personal think that taking on a 71-73 mustang project as your first project is something you should really think through. They dont have the aftermarket support that the earlier cars have. So a lot of parts you will have to find used and at a marked up price. Do a google search for "giving my 1972 coupe a makeover" and you will find the detailed step by step process that I posted on another mustang forum while doing a complete restore on one of those cars. The key areas that are prone to rust on them is at the cowl. And their is no aftermarket cowl available for that car. So if yours is bad, you will either have to fabricate one or find a donor car to cut one out of. Also the doors on those cars are really long and heavy causing the door hinges to sag. They dont make those aftermarket either, I ended up buying 4 sets off of ebay before I found a decent passenger side and a sloppy drivers side that I was forced to live with. If you decide to take this project on and you need help locating parts for it, I have a source with a few 71-73 doner cars available to cut parts off of. Feel free to email me if you are needing anything. Either way, good luck with it.

THUMPIN455

It looks better than mine has since I bought it. They can be difficult to find parts for, but not impossible. So the listing is removed, did you buy it? I would be more than happy to take any old parts you want to replace with new parts.

69mach1377

Reminds me of myself 21 years ago. It's hard to tell until you dig in and find all the weird things previous owners have done. Safety first though, make sure the brakes are good. I found out otherwise in an emergency situation when I wound up 180* out of phase.

GT350R Klone

N1 has a real good point, and I mentioned it too, look for rust and hidden damage. That would turn this project car into an uneconomical restoration real quick.

To answer your question, there is no reason you cannot do everything yourself, less machine work and perhaps paint, with effort, time, patience and an interest/capability of learning. If you have the room to store, find a used engine hoist and engine stand on craigslist. It will cost you about what it would cost to rent one once or twice, if you can find a good deal.

TheBeefBaron

I emailed the seller at gt350 clone's suggestion but I haven't heard back, so I'm assuming it went pretty quick and I was a couple hours too late. I'll have to keep looking. Let me know if you guys see anything that will work. I definitely want to find either one of this generation or one of the earlier ones if I can't.