Hello to everyone, I'm new to the thread along with being new to classic Mustangs so help me out. I have the chance to buy a clean 66 teal coupe for 2 grand. It's a rolling chassis with a bunch of extra parts such as trim, glass, doors etc. It's an automatic car with the original 289 that is complete but needs to be put together. Took it out to do a rebuild. No rust or dents no body work. Has been painted. It's been sitting in the back of a shop for years collecting dust.
Is it worth 2 grand.

Thanks

 

There is nothing too unusual about the car you are describing. Make sure it is not all Bondoed up. Look at the floor pans and cowl area. That may be more of a project than you want. If it is complete and in good condition, $2k sounds about right. Check on the title. I do not think you want to buy a salvage title car, and there are some of those floating around. What is the condition of the motor and parts. That could cost you a couple grand or so to get right if it is jacked up. A great quality '66 driver should be in the $7-10k range in Texas. I have seen jacked up coupes for $3k that I would not enter into a demolition derby. '69 Mach1s go for $15k if they are patched up rust buckets and $30-40 if they are in good shape. Show cars are a bunch more and vary depending on how close they are to concourse ready. This is what I have seen around central Texas. Hope that helps some.

 

Also take a magnet with you and check around the rear wheel wells, rear quarter panel, bottom of the doors and front fender for excessive filler. I've seen some that looked pretty good, but the magnet would not stick at all!

 

that sums it up, just to add:
pour some water down the cowl (between hood and windshield). if it comes out in the inside of the car the cowl is fried which is a major repair.

 

All good advice, and dont forget to double the amount of money and time you think it will take to get it back on the road.

 

Very good point, moonweasel!

 

I should have said that it is also twice as fun as you think it will be. I LOVE working on my car.

 

don't forget to take your girlfriend with you. if she falls in love, buy it. if you're married, take your wife. if she says no, buy it.

 

I would pay 2 grand to for a rust free body no matter what engine it had.

 

Waffles and moonweasel have the best advise.....only double the amount you just doubled when you start looking at disc brakes and tubular control arms.