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Need opinions on this 1965 mustang at a dealer

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Old 05-03-2012, 04:28 AM   #1
Join Date: May 2012
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Default Need opinions on this 1965 mustang at a dealer

Hi all,

I've been considering buying either a new or restored classic mustang for the last few years. I wasn't quite ready to start shopping until I stumbled across this resto-mod 1965 in a local showroom. Listed for $24,995 with "sale" price of $20,995.

You'll notice that in the photos the car has a tag that says "Nortwest Investment Cars", which is a boutique dealership on town. After checking their website I found the same care listed as sold for $17,995. Facebook shows listing date as 1/27 and sold date as 3/23. NWI says they got "real close to ask" and that it went into a local collection.

The total investment is pictured receipts is $17,177. I know that part of this was a new paint job (red with metalflake). New wiring by painless and upgrade from I6 to 289 with 4BBL. The last listing gives more details of the restoration and shows $25,000 investment. They had it listed in NV for

I spoke to the current dealer yesterday and told them that I saw it listed for $17k at NWI (forgot it was actually $18k). The salesperson I talked to was willing to take the $17k straight away.

I would like some opinions on whether the $17k offer seems like a good price for this car or whether there would still be some movement on that price. The car shows quite well but I haven't been under it or driven it yet. I haven't really looked at mustang prices for quite some time. Even thought the seats and engine aren't correct for the car, they are very well done. I love the thought of finding my car from a local dealer rather than driving a ways or having one shipped. Any insight from you guys would be helpful.

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Old 05-03-2012, 04:49 AM   #2
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All i see is 8 grand maybe 9 tops,Its a coupe the most common body being it was a inline 6 the vin will still say that which means worth less then a true v8 car.It has front drums and those front seats are ugly.For 20k you can get a nice fastback or convertible keep that in mind.
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Old 05-03-2012, 10:53 AM   #3
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Vehicle: 1964 1/2 D Code Coupe
Location: FL
Posts: 37

Jay, Damn good job of tracing the cars' movements through the transfers! Seems to me like a LOT of "selling" and very little 'keeping' is happening with that car. I don't know if that is significant.

While the coupes ARE more plentiful and they are 'worth' less than fastbacks or convertibles when it comes time to sell, they aren't necessarily less fun to own or 'worth' less while you own them. They cost slightly less to restore (not by much) and even a well done fastbacks and convertibles will not sell for the cost of what it took to restore them. What a car is 'worth' depends on a lot of factors.

Many people have spent far more on their restomods than they will ever be able to sell them for. They don't think someone else's restomod is worth the money, yet they spend the same or more on their own. Follow your own sense of what something is worth it to you, but get the best car you can for the money!

'65 Guardsman Blue 289 Coupe 5 Speed
'04 Black V-6 Coupe 5 speed
Plus 8 more that are sadly long gone!
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Old 05-03-2012, 11:37 AM   #4
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Daniel Merrill

Just make sure you get to see it on a lift so you can poke around a little. Make certain that everything underneath was also restored where needed.
Owned 32 Mustangs & Counting.

Fondest memories: 1969 428CJ, it was stolen 60 days after complete rebuild.....
Worst memory: 1965 Notch back, rolled end over end, 2 days after rebuild, fractured Strut-bar..... Lesson learned: ALWAYS upgrade the front suspension of an early Mustang!
Worst mustang: 1974 4-cyl auto (it was cheap, I was broke...).
Favorite body style 1965/66 Fastback.
Present stable: 1997 SVT Cobra, 50k miles, Paciffic Green w/ tan leather & lots of goodies.
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Old 05-03-2012, 09:18 PM   #5
LynnBob Mustang
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Vehicle: 1999 GT, 1965 coupe
Location: PA
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Surface rust here has me concerned as to what else is hiding...
Click the image to open in full size.

'99 GT automatic
CDC Shaker scoop, K&N Filter
MAC cat back
Max Speed 1 ˝” Lowering springs
KYB GR2 shocks and struts
Cobra front brakes

'65 Mustang coupe in progress
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Old 05-04-2012, 09:55 PM   #6
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Vehicle: 1965, Mustang, Fastback
Location: Insanity
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Nothing like offering to pay twice what something is worth.

Good god you would have to drop 2k in the first weekend just to fix the interior. Love the "how can we make the beat up, ratty old wheel look better without spending money from something nice" approach as well.
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Old 05-05-2012, 06:19 AM   #7
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Thanks for the input all. So the consensus is that these body styles are common and not worth as much. I totally get that but I am having a hard time finding a true GT that is even close to this condition at the same price point. Sure, I could find a fastback that for 20k but it will require a ton of work and money. The 8 or 9k coupes you speak of need a ton more work than this.

My buddy has a 67 coupe that he has been restoring for the last 10 years. He probably has as much invested as the price of this car and it isn't even close to the condition of this one. There's more money invested in this car than the sale price. I could go buy a beater a pay someone else to do all the work but that would put me way over the price of this car. (I'm not so naive to think I could do all the required work myself.)

Maybe this is a situation where "it's worth the price if you love all the choices they made with the car". I am not wild about the seats but I do know the old ones are a pretty terrible ride.
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Old 05-05-2012, 07:19 AM   #8
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Default this one needs work this one is worth if all those parts are really there this one talk him down about the door handles and hood a 72 mach1 a ok cheap one a ok cheap one another ok

Last edited by andrewmp6; 05-05-2012 at 07:36 AM.
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Old 05-05-2012, 10:27 AM   #9
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I'll buy them like that all day for $8k. I'm assuming this car doesn't need anything. I wouldn't want to pay more than about $12k for it, but it does look well done. They aren't going come down that much though. Dealers can always find someone who will pay a premium.
I'd certainly look at a couple those posted above first. That '69 coupe looks like a pretty good car. Offer him $6k.
'69 Mach1 351w, 4-speed
'69 Convertible 351w, 3-speed
'84 GT-350 5.0, 5-speed
'91 LX Convertible 5.0, 5-speed

Last edited by The_Dude; 05-05-2012 at 10:31 AM.
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Old 05-06-2012, 06:29 AM   #10
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A car lot always list the stuff high to make a profit but if you look around you can find some deals.
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1965, black, craigslist, ct, dealer, dyno, fastback, mustang, portland, real, rims, sale, t5, time, worth

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