Any help in determining a price?
 

I have a 2001 Mustang GT, convertible, black on black with 200,000 miles and automatic transmission. Very clean inside and out, flawless black leather interior, premium sound and wheels. Only problem is….. it needs a new engine.

It has a nearly new transmission, newer fuel pump, brand new battery, and new exhaust manifold.

I was going to keep this car forever, but I’m getting married and could use the money for the wedding.

The mechanic stopped by today and gave the bad news that it needs a new engine, I wasn’t there to actually speak with him, but he is interested in purchasing it to turn it into a race car.

Any ideas on a fair price for this car? I don’t want to call him back until I am comfortable quoting a price.

vert race car is already a bad idea.

I'll give you 450$...if it was a 5spd then maybe 500$

And I'll toss in some tropical bubblicious if the carpet is clean

No need for snarky comments, thanks

Because of the mileage and needing a new engine, I would probably say $2000 max. But you would probably get less.

Find out why you need a new engine? What was wrong why did you take it in? I'm nervous about a mechanic who pronounces your car dead and requests to buy it... hmmmm

Nonsense. A roll cage and a little extra power to counter the extra weight and you're good to go. There are plenty of convertible or even entirely topless race cars out there.

As for a price, it's hard to say with a car like that. I guess it really depends on how good of shape the rest of the car is in for that kind of mileage, and if you can get someone willing to pay. If you can find the right person, you may get $1000-2000 (I'd bet closer to $1000), but if you can't find someone willing to take on the project, you may get little more than scrap value. Keep in mind that an engine is going to probably cost upwards of $4000-5000 to buy and have installed unless someone is going to do it themselves.

If that mechanic wants to turn it into a race car, just about all those new things you listed won't matter to him. He'll probably want headers, a bigger fuel pump, and probably a better transmission, so I wouldn't expect to get great money out of him.

I was gonna say the same thing. It could be totally legit, but a mechanic saying you need an engine then wanting to buy it does set off an alarm for me. I'd at least get a second opinion if possible unless you know and trust your mechanic.

I would say around like $1200-1500... Can pick up a new engine fairly cheap in these cars and someone who is mechanically savvy will be the one to buy this as a project car.