BaldGeorge

Is it just me or is buying a 5.0 an incredibly painful process? I know exactly what I want, 1987-1993, 5.0, 5 speed, hatchback. Preferably a GT. There are cars here that are nothing more than parts cars, bodies shot, motor locked, no title, etc. that have a $4,000 asking price. People think they're "rare". The few straight clean ones I've seen have prices from $6500 to $22,500. Whats the value of the car I'm looking for? I'm a body man and painter so if it needs body work or paint thats no problem, I have a really good friend who's a mechanic. He'll work for cigarettes and pizza so some mechanical issues don't worry me. I've seen a lot of modified 5.0's that scare me, the engines are absolutely cobbled together, don't idle worth crap, smoke and knock etc. I want a clean car, something unmolested, it doesn't have to be low miles. Just a solid foundation to do a nice daily driver. What are some things I should be on the lookout for when I see a car I like? Any areas especially prone to rust? Most importantly whats the real world value on a car like that? Why does everyone think they're so "rare"? I have a good eye for judging if a car is wrecked. I plan on reading as many topics in the 5.0 forum as possible. At this point I need info. I had less trouble finding my 64 1/2 convertible and 67 fastback than I am finding a clean 5.0. My plans for a car like this are to make a real nice daily driver out of it, no excessive engine mods, suspension, or brakes. Mostly stock, nice wheels and paint, and a great stereo. My other two Stang's I fixed up so nice I'm worried about letting them out of my sight.

5speed GT

I had a hard time finding one also, the cars are outragious. Blue book on a 1991 gt in good condition is $1900-$2500. Try to find one for that price that doesnt need major work. I couldnt. I found one for $2500 that had a good body but the engine had major leaks and the tranny was about shot. I ended up buying it for $2100 because I couldnt find another one for less than $5000

PRO50SC

Fox bodies in good shape have been bringing some premo prices for a while now.

BaldGeorge

My budget is $7,000. Thats what I feel comfortable spending. $10,500 for a really, really, really, good car. Personally I'd rather have a mechanically sound car that needs body work. I have a shop to do the body work in and I can use the paint booth at work to shoot it. Chances are I'd want to change the color on the car anyway.

PRO50SC

You should be able to find a great one for 7K. Have you looked on e-bay. Lotta nice ones on there.

BaldGeorge

Bernie, did the E-Bay thing once, I'll buy parts but never another complete car. Spent $30,000 on a 69 Mustang fast back a few years ago. Seller said it had a rotisserie restoration, 428 FE with mods, 4 speed trans, 9 inch, etc. Bought the car, had it shipped to me. Clutch was fried, engine leaked like a sieve, rear end housing was cracked, suspension was shot, floors were ate through with rust, and the frame was bent (front subframe took a hit). Basically he threw a decent paint job on a turd and took photos from a selective angle. Ended up dropping another $12,000 in it to fix the engine, clutch, replace the rear end, redo the floors, repaint it, straighten in on the rack, re do the interior, etc. Car looked great in the pictures, seller lied through his teeth over the phone. Wound up having to hire an attorney ($3,000) and suing to get the title from the guy. E-Bay's buyer beware policy means just that, buyer beware. Sold the 69 and bought my 67.

stanglx2002

where do you live that you are seeing those prices?

BaldGeorge

Wichita Falls TX. I drove as far away as Dallas, OKC, and Tulsa looking at cars. Don't even bother looking in Lawton, military town, everything is outrageous there.

PRO50SC

That's too bad. That's a lota money to have put out for something like that. Bought a couple cars and bikes off e-bay. All good but the last one slightly questionable. Nothing like your experience though. There's alot of them out there. It shouldn't really be a problem finding one.

BaldGeorge

Well there was one red flag that came up when I was talking to the guy on the phone. He told me it was a 10 second car. At the time I figured he was exxagerating about it like most people do. Even when I had the FE rebuilt right and got all the issues sorted out it ran a best of 12.90. That was with 4.11 gears. Most of the time it was a mid 13 second car. FE's aren't known for wrapping up quick. I'm sure with an automatic it could have run faster.

Anyway, on the 5.0 Fox body Mustangs. What did you look for when you bought one? Did you find it in the paper or word of mouth? Anybody ever pull one out of a salvage yard and go to work on it? When I did my 64 1/2 I started with a shell, title, and a 289 sitting where the seats used to be. An experience I'd not care to repeat. If a car is complete then how easy is it to work on and diagnose? I'm still in the world of carburetors on most of my stuff. From what I understand the older OBD 1 system is more forgiving and easier to manage than the OBD 2 stuff. True or false? I have a Snap On scanner that I use to work on my 02 F-250 and my 99 Lightning (don't get too excited, bought it rolled over and wrecked, getting a rebuilt title on it if it ever gets done) will it work on a 5.0 Mustang?