To Buy Or Not To Buy?
 

Hey everyone. I hope I am posting in the right place. If not, I'm terribly sorry. I did look, and I guess this is a "technical" question, but since it pertains to transmissions, I figured technicians would be more apt to answer my question.

I have a dilemma, and I am unfortunately not skilled enough to handle this decision on my own. I am asking for your input on the matter.

Scenario: My girlfriend's friend bought a 1995 Ford Mustang for $1300. She was impulsive, and she bought it on the spot. A few miles down the road, the car broke down on her. It had a transmission leak. She towed it home and got it worked on.

Repairs: She, so far, has invested around $2000 into it. The transmission leak has been fixed, it has: brand new tires, battery, alternator, a tune-up, spark plugs, and some wiring work.

Things still wrong with it:

1. A minor dent in the front fender. This I'm not too concerned about. It's barely noticeable.

2. A headlight housing missing. I'll just buy a new one to replace it.

3. The driver's side door electrical panel (window, locks, etc.) is not working (although she says it's the wiring and the switch, the motor is fine). This I believe I can fix if I take the door panel off and take a look at the wiring.

4. *The most important part* The car's transmission slips once it's first started and starts going. This is the part that worries me the most. The leak has stopped, but she's not quite sure what's wrong with the transmission.

5. The instrument gauges (gas gauge, speedometer, odometer, etc.) have stopped working. The odometer is stopped at 138,000 miles.

My question: The car has these problems, she's put a lot of money and work into it, she's ran out of resources and patience (also, personal life stuff), and it has 138,000 miles. She is selling it for $1800, but I could probably haggle it down to $1600. I would like to buy the car and work on it some, seeing as it looks really nice.

It has had a lot of work done on it, I've always admired Mustangs, and I have a looming feeling my PT Cruiser will die soon. I'd like to start working on a car to have it as a backup.

Conclusion: Is a car with a transmission slipping (main problem) with 138,000 worth $1600 to an individual with decent car experience and technical knowledge?

Thank you,

-Andrew

Otherwise how does the car run?(Transmission aside)

i would stay away from that car. assuming its a GT, its still not worth more than about 2200 (without trans problems). there is no telling when the odometer stopped, so that car could have 200K+ miles on it. unless you can find a bunch of used parts(trans, gauges, switches) and replace them all yourself, then you will really be in the hole. If you want a mustang that bad, then id keep looking around for something that is in better shape.

Unless you fall in love with the car at first sight. I overpaid for mine and I know it, but from the moment I laid eyes on the car I knew she was suppsoed to be mine and I'm ok with overpaying. Value is in the eye of the buyer... in this case since he is asking, I would assume that is NOT the case.