There's some work to be done to it but for the most part shouldn't be too hard. Off the top, not knowing what's in his boxes, I'm not sure if the motor has any issues as well as the transmission. He says the previous owner said ran well and that the transmission worked great too however those are words coming from the owner before him. So that's not worth much to me. Would need to do a 6 cylinder suspension upgrade to 8 cylinder. How much would this upgrade cost me?
Needs windshield, new conv top, dash components should be in his boxes, already has 5 lug swap, NEW RIMS/TIRES would definetly be needed. For $6500, what do you think? Thinking maybe I can finish this and only be 8-10 in the hole. 8 if motor and trans run good. 10 if not and I don't go crazy with add ons. He once had it up for 8, then 7500 and now 6500. Been trying to sell for about 6-8 months.

So here is the ad:
This Mustang is well underway. New red paint, bedliner coating has been sprayed throughout body and underside. The body was in really good shape before paint, but still needs both torqueboxes replaced.
Interior is all new - seats, door panels, carpet, armrests, and more.
Comes with good running 302, automatic trans, & late model wheels, center console.
The tires have over half tread life left.
Needs to be completed. Although I have several boxes of parts that will go with the car, there are some parts still needed, I'm sure.
Top is old and will need to be replaced.

 

Sheez, here's my parts break down list and I bet a few things are missing too

3 row radiator from 2 row $165

Radiator Hoses $27 set for upper and lower

Complete suspension:
Lower control arms $120 pair
Upper Control arms $140 pair
Springs $60 pair
Perches $38 pair

V8 spindles Not available in aftermarket, rack and pinion = $1,650

Aod trans brace $53

Front disc $1350 power w/ dual bowl master

Motor mounts $120 brackets (pair)
$30 mount (pair)

Throttle linkage $35 or 100

Aod kick down $100

Shorter driveshaft Est. 400

v-8 style drag link Center link $60, $115 with power steering

Swing arm $160

tie rod ends and sleeves $60 (pair)

headers On motor

exhaust $400

carb $300 Holley 750cfm

Windshield $200 shaded, 250 clear

Windshield gasket $17

Convertible top $240 with new rear window

Brake lines? $200

Fuel Line $20

Torque boxes $75 pair plus install cost?

Rims $800 (4)

Tires $600

Total $5890 Without v8 Spindle & rack & pinion
otherwise $7,540

 

Hmmmmm. This is just me and it's a gut feeling, but not being able to sell it for 6-8 months sticks out. Torque boxes need to be replaced, but bedliner has been applied also sticks out.
The new interior makes it harder to say pull back the carpet.
I hate those wheels, but I think you do also. LOL

For the right price I think you could do well, but I would make sure you know what you are getting underneath.

Now since he has had it for sale for so long and he has lowered his initial asking price, it might indicate that the cherry is ripe for picking.

After you know what's what make an offer. If you like it enough. The torque boxes are what worry me. Kinda makes you think about the rest. I got my 67 convertible for $5K and it needed driver's side pans, passenger side front frame rail work.

 

I'd say you could definitely bring it back for about $8-10k. And I agree with scootchu, try to negotiate a bit down price wise.

 

$6500 does not sound to bad but I'd be concerned about torque boxes and what you'd fine when opening them up. Rockers, innner frame rail, and cowl should be checked pretty close.

 

There are red flags.
Physically check it out. Don't be afraid to lay on your back. Bring a magnet, and leave the car running.

 

i agree.
why spray bed liner before fixing rust???
fixing rust is one thing ...but you have to remove bedliner (a real pain) then fix rust...uuugh...
torque box and frame rail replacement is medium difficulty level.
i would have to do ice pick inspection as a minimum.
if serious ask permission to inspect frame rail and floor under carpet.
it is good looking though
i would tackle it if i had the time.

 

Glad this forum exists, your input saved me from making the trip... and probably a lot of headaches down the road.

 

How far a trip is it to look at?

 

Not that long, only an hour tops. With the red flags plus having to deal with the whole v6 to v8 swap, I just would rather enjoy my fastback I have for the time being. I love to wrench but I've got a 2 year old now and just don't have the time like I did before. It would certainly be awesome to drive around with the wife and lil girl this summer with the top down though. I am saving for the bigger house w/ 3 car garage, should probably wait to have the larger garage before adding to my fleet. It's that whole "do what makes sense" mentality I am coping with.