I'm new to the classic mustangs. I want one with some work and can fix up a little. Ifound one here is the description the owner gives it:

Selling a 1967 Ford Mustang Coupe. The car is primer gray now and the body and sub frame is in good condition. The amount of rust on the car is very minimal. The car has 302 small block V8. The transmission is a C4, three speed automatic trans. NEw parts that were installed, they include all new V8 suspension, all new drum brakes, cap and rotor and wires, new 8 inch rear end with a 373 gear, also new tires and wheels(ansen racing wheels and pirelli tires). The car drives well. I have not had to do any major work on the engine or transmission. I drive the car on weekends and on nice days. It is a great project car and need to sell due to school.

It was orginally a inline six and the owner before put in a 302.I went and looked at it and took it for a test drive. The car seems solid, very little rust. The major work would be redoing the dash and headliner(the rest of the interior looks good), getting it painted, the doors sag a littleand trim. Also there is a sunroof in it. I just don't how the car's value changes with not having the original motor/trans and having the sun roof. he is asking $3500. compared the few other classics i've seen this seems like a good price.

any input would be appreciated, thanks

 

It seems high to me. I think it will take a lot of work. Sunroof has to go and weld in roof patch. V8 upgrade will probabley need more than just springs.

 

$3500 doesn't sound bad at all. I paid $6000 for a car with a little rust but it needed almost a complete restoration. Got any pics of the sunroof? That's pretty odd modification. The 302 should actually bring up the value because those 200s aren't very desireable.

 

I wish i had pictures. The guy had trouble sending them so i was never able to get them i did go look at it yesterday though. It looks like its still in good condition (the sun roof). he said it dosen't leak. and if i had to guess i would guess that the owner before who put the 302 in put the sunroof in. the sunroof didn't look like it was from the 60's. and i think it was just a flip up sun roof

 

That sunroof was most likely a 70s mod. About the time of the T-Tops craze, we started jig-sawing the roofs of cars to install these sunroofs. I put one in a Gremlin and helped my buddy put one in his 72 Camaro. (Ruined the Camaro but nobody cares about the Gremlin...) It's pretty out dated now, so best plan on finding a roof section out of a wrecking yard and having it patched in at some point.

You said 'very little rust'. We always hope that to be the case. Not knowing if you've studied up on typical mustang rust places or not..but I'd like to point out the most common places to look:
1) Front/Rear bottom of door - drains in the door get plugged and the water gathers in the corners, rusting out the bottom and outer corners.
2) Cowls - under the grill in front of the windshield is a bathtub shaped sheetmetal area that holds water when the under fender drains plug up. Look up under the dash at the vents in the corners to see if you can spot any rust. This is a very expensive repair.
3) Around front and rear windows - for obvious reasons
4) Drop down area behind rear wheels. This pocket holds water and rusts from the inside out.
5) Floorpans - look under the car forward of the 4 seat attach point holes. Look all the way up the sloping front steel
6) Under Battery - Battery Apron area deteriorates
7) Behind front wheels - Fender area collects water and will rust out area between front wheel housing and front of door.

Check these areas over carefully with a magnet to ensure they aren't problem areas filled with bondo and covered with primer.

373 gears in the rear are WAY low. With a C4, the car will want to run at over 3000 rpms at 60 or so.... highway driving will be almost unbearable.

Mentioned new suspension... but didn't mention upgrading to V8 Steering...

Should a little high to me too considering what all you'll need to do to it. 25 to 3K may be more in order...