'83 GT 5.0 questions
 

I just picked up a 1983 5.0 GT, 1-owner with 51,000 original miles. It is the 3-door (hatchback), not the convertible. About the only things I've seen away from original is the stereo and wheels. I really wasn't looking for a restoration project myself, but I couldn't hardly see letting this go by without snatching it up. It seemed like a shame for it to possibly go to someone who wouldn't appreciate it for what it was. I just got my first 'stang about 7 months ago ('04 V6) and am hooked. The '83 has a couple of things that I plan to take care of - power steering pump leak (which I have since heard was a pretty common issue) and the a/c (compressor works, just not cold air). I don't have pics yet, but can probably borrow a camera and snag some if anyone is interested.

My questions so far are this:

I know that I got a good price on it from the broad range on n.a.d.a., but really have no idea what it is worth having the history and low miles.

How far should I go in repairing things? I ask this only because if someone who was seriously interested in restoration may not want anything done to it. Any advice from the more experienced ones here would be greatly appreciated. Y'all have always been a wealth of information.

Thanks in advance!

RE: '83 GT 5.0 questions
 

Hey Red,

The early GT fox's are all pretty hard to come by these days and (without seeing any pics of it) this one sounds like a good one to scoop. There is a loyal following of the early GT's. You'll find a wealth of info and GT enthusiasts at this site which you might find helpful - http://www.mustanggt.org. Another good site for info on the 4 eyed foxes is Four Eyed Pride http://www.foureyedpride.com. If it were me, I would fix the necessary stuff like the power steering leak and figure out why the air isn't working and drive the car. If you're looking to flip it, you'll have an easier time doing that if no repairs are required IMO.

RE: '83 GT 5.0 questions
 

if you keep it and want to have fun with it, you can mod the car, just if your concerned about the value of it, dont do anything that cannot be turned back to stock. but IMO, there are some things that a fox could use to make it better than stock i.e. subframes, a better carb and some other little odds and ends