my buddy bought a couple of cars at barret jackson this past year (friday) in scottsdale.One is a 1969 mustang cjr code looks mint.
He wants to sell it to me for $ 55,000, this is what he paid too.
What do i look for ? It has a marti report.
champagne gold with ac. Full resto in 2011 but not rotissurie (sp) that i no of.
Is this a good buy ?

 

You pay any price that the two of you are comfortable with. It can be $40K or $90K. IMHO, when you start getting into those kinds of dollars, if you have to ask, then you shouldn't be spending the money. Just make sure you can insure it for what you paid.

 

thanks. Like I said, Im new at this.
I did want a project car but now I am disabled. I love the classic mustang. I owned a 1970 grabber orange coupe back in the day
I can drive a automatic so I felt buying a restored 1969 cjr car would be the way to go.
I guess my question was more related to:
what do you look for structure wise ie: are shock towers suspect on this year etc.
It is a full numbers match car except the rad, does that matter ?
as you get further away from the resto year does the car still hold value?
is this a trailer queen or can I drive it without losing on my investment ? (like my advisor does )
Fun first but it is a investment.
I will most definatly check on the insurance.

 

I wouldnt look at it as an investment. At least in my opinion, I have never gotten any return on a vehicle. Just my two cents. And if you are paying that much for a vehicle, fun or not, I would think that you shouldnt have to look for anything.

 

If i was going to pay that kind of $ for a classic mustang, I would want it inspected and appraised by a professional. Also, If you are going to drive it it will not hold its value. The only reason most of those Barrett Jackson cars get the prices they do is because they are not driven. They are parked in a really nice garage and dusted off every couple days and started once a month.

However, if you are like me, I would buy it and drive the crap out of it. Cars to me are meant to be driven and enjoyed.

If you are looking to make money off it, use your buddy as an example. Is he making money off it? Probably not. He will most likely be luck to break even.

Buying and selling and attemping to make a profit off of classic cars is a really tough thing to do. It is not for the faint of heart and you must know what your doing or you can loose your a$$!

That is why I say do what makes you happy and be kind to others! Life is too short not to.

 

MonsterBilly is right. Have the car fully inspected and appraised by a professional who knows classic Mustangs and the muscle car market in general. If you don't know what to look for you're not going to find the answers on an internet forum. Maybe if you were talking about buying a $5500 car, but not a $55,000 car. Just because that's what your friend paid for it doesn't mean that's what it's worth.

 

Thanks for the information.
At the end of the day, I want to drive it so my attention will be focused on finding a nice 1969 mach 1 fastback.

 

Good Choice.

 

Not a flame at all but,....before I ever spent that kind of money on a car I'd know exactly beforehand what I was looking for, value, std options, insurance, reputable inspectors/evaluators,..whatever.

The last thing I'd ever do would be to come to an internet board and ask for help with that kind of purchase price,..I'd pass on this and have fully researched and know in/out what I wanted and what to look for in another purchase.