A lot depends on where you live (Los Angeles costs more than a rural area for example), age, driving record and the type of car (cost of replacement parts will vary this quite a bit) and of course, the type of coverage/deductible (Full coverage, liability, "classic car" etc.)

I have all three of my cars (2004 Kia Sorento, 2004 Mazda6 and my 1969 Ford Mustang) insured for a little over $900 every 6 months (almost 1900/year)

But I am:
38 years old
no accidents/tickets for over 10 years
married
Not in a metropolitan area

I remember when I was younger (18) and paid more per month for my car insurance than my car payment!

 

Its not hard to put a 460 in a 70-73 Mustang. 600hp is going to require gas, lots of it. Also around $7000-$10,000 just to build the engine. Already done that, its not a young drivers ride, trust me. You wouldnt be able to drive for long, and insurance would be around $7k per year. If it and you aerent wrapped around a tree or some other immoveable object. Not saying you are a bad driver, just saying that is ALOT of power and it is to be taken VERY SERIOUSLY, ok?

A 351C would be more than enough to get you in trouble, and 302s make great first V8s. Mine was a 289 and i got in plenty of trouble with that. There are plenty of them for sale online and in old car traders. A coupe in very nice condition will run $8000 or less, fast backs are quite a bit more pricey. An original big block Mustang is over $20k in decent shape.

I dont think I have ever paid more than $1200 per year for insurance, but I too am older and currently I have military rate insurance through a company you civillian guys cant get. I know it costs more, but old cars are usually cheaper to insure for basic insurance.

FWIW there will be a 71 Fastback for sale in the coming months... check the PROGRESS thread... lol.

 

Actually I am looking for a mustang for less than 12K so that would leave me about 6-7K to do any repairs and modifications. As of the moment I have never driven a car with more than 400 HP but I thought that an older mustang would be heavier and so I would need more horsepower to do the same. Also I want to have more than enough horsepower to go around if you no what I mean. I really don't care what type mustang as long as it is either a GT, Boss , or a Mach 1. The main reason I was looking at a big block was that I found a 466ci big block producing 550 HP and 600 TQ (I think) for less than 6K (not including shipping). I would rather install a 408 or a 427 but both of these are like 7-10K a piece. I am going to be installing the engine and as much else as possible except for a transmission. How much HP and TQ do you think I could make with a 351C or a 351W. I didn't think that they could produce more that 450 HP and TQ. Maybe you guys could tell me how much it would cost for a N/A 351W or 351C to be producing HP and TQ numbers over 450. Also what gas mileage do you guys think you are getting with 351's, big blocks (if you got one), and stroked 351's. Thanks for all your info and help.

 

depends whats on the engine. a stock 351 2v would roughly produce about 250 depending on the year.

 

Both Clevelands and Windsors will make good power, enough to run fast enough to need $8k in safety equipment. Its all how much money you want to put in them. Do you have an idea of how fast you want it to be? Like an ET in the 1/4 or 1/8th mile? Be aware the faster you go, particularly natrurally asprirated, the less streetable it will be.

Older Mustangs arent really that heavy, the 71-73 would be the heaviest, but they can also be pretty light considering the size of them. 68 and earlier Mustangs can be quite light, some under 3000lbs. 400hp in a 2800lb car will move real good...

Best advice is find a car that doesnt need huge rust repair, or has been competently repaired. Starting with a V8 car will put you ahead. Once you have acquired the car, then you can work on the details of making it as fast as you would like. Untill you have something to work with, its really vague and your answers will also be vague. Also deciding on a powerplant is much easier when you have a car to put it in, otherwise you have nice shiny garage art... a car without and engine is yard art, I can provide pics of both... lol..

 

I will be the mean guy in this thread.

First:
12k - sure you can buy a 71-3 mustang for 12k

6-7k - repairs - well....more like...."money spent to get the car into a condition that will pass inspection so that I could drive it every day if I chose too"

modifications - sure you can make some minor modifications when you do your repairs...like updating the suspension with larger sway bars, better shocks and putting in a radio to listen to FM radio with decent sound quality


12k source, 6-7k spent in mods - 600HP 460 with a premium sound system that thumps - not a chance in the short term.

Second:
What car have you driven with 400HP.


Lastly:
I am not really trying to be mean, just trying to help you understand and realign expectations to match both your budget and project use.

I always advise people to clearly define (and be as honest with themselves as possible) when considering a project 3 factors:
1. What is the projected use of this car
2. What is my performance goal with this car
3. What is my budget for this car

And to not invest a penny until you can make all 3 work together.

For example when I conducted this exercise personally I came up with:
1. I want a car that I can take on the road course, the 1/4, and occasionally street drive anywhere I want to take it (with the understanding that I will prob not really excel in any single aspect)
2. The performance goal I set was a function of power of agility. I set 400 RWHP as the power goal but then I also set goals for speed with which I could take my favorite off ramp without flying off the road
3. Budget was the easiest for me because I understood that to meet 1 and 2 I would need money and have spent well over 40k (including car price) on my 65 in 3 years.

Now......

If my answer to number 3 was 10,000.....I would have known through research that I could not meet BOTH goals 1 and 2 for that $$ and would have had to rethink the project

 

if your just using it as a daily driver, 300hp should be enough. and ive seen Boss shells go for 12k, so best bet would be find a gt.

 

Ok everybody thanks for the help so far. Ohh by the way I really don't care about critisism as long as it is helpful critisism. (i really think i mispelled that but I am to lazy to look it up)

First:
I was hoping to be able to get a mustang that really didn't need much in repairs but wasn't a restored car for less than 12K. I found a couple big blocks for under $6,500 and then that would leave around 1k to get that motor in the car and running. The sound system would come later when I get more money and then I could also add some more repairs/modifications.

Second:
it was my friends old mustang that he had modified. He never had it dynoed but we figured that it had at least 400 HP when he used his nitrous. He had added a lot of modifications to it and was going to order a supercharger but he was forced to sell it first. I think it was a 99 or a 2000 mustang GT with between a 75-100 shot of Nitrous on it. I know he had done a complete ehaust including headers, CAI, a chip, and new heads. He might have had more mods but I really don't know thats all I can remember.

Lastly:
I want a daily driver with enough HP for when I race at the track or on the streets. I would like it to be a well rounded car with enough HP for me to be a competitor with any production car. I realise it will take more than 7K but I would like to get the engine installed and running for that and maybe just spend a few thousand later for the finishing touches and a sound system.

 

Woof! 7k for insurance? That's what you get with 460 cubes under the hood of a "small" car. That and being young, probably living in a "high claim " location too. Unless you win the lottery, I would look at somethig a little more sedate.

I any or all of my vehicles came to 7k I would be walking I think...

 

First it was 7K for a non 460 big block engine but I actually called my insurance company today and they think for about 1600 or less a year.