1989 Mustang GT Convertible Value?
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Old May 5th, 2011, 06:25 PM   #1
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1989 Mustang GT Convertible Value?


The reason I joined this forum is because I'm looking into purchasing a 1989 5.0 Convertible GT. The car is white with the red molding stripe. Oxford white leather seats with red carpet. The car has brand new chrome mustang wheels and new tires, and had a new automatic transmission put it within 5,000 miles. The interior switches (windows, etc.) were recently replaced. It has 55,xxx miles and has only been registered in Florida by the first and only owner. It was garage kept it's entire life, and that's no bs, the guy is a very close family friend. He says he recently dropped a couple grand into it. The car has a few nicks here and there and needs a coat of wax. All it needs is a little love. I'm just wondering what you guys think would be a good value to pay for this car considering I'll probably drop around $300-$400 to bring it back near mint condition.

I've worked him down to $4,000 but wonder if I should buy it at this price or leave it. I think I can talk him down to $3750ish. Any input is appreciated.

Thank You

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Old May 5th, 2011, 07:10 PM   #2
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I paid 7000 for an 87 of similar description (in my profile) two years ago. The foobar cars are usually listed for around 4k. Sounds like a steal to me.
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Old May 6th, 2011, 06:24 AM   #3
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I’m not a fan of a heavy vert with an auto transmission. That being said it sounds like a good deal if that’s the style your looking for. Have you looked at what is for sale out there? People ask crazy money for their so called 8/10 cars down here. I’ve seen more 4 and 5 k pieces of shit in the last 3 weeks. Oh and fucking god forbid its got less than 100,00 miles on it. Sorry for the rant. If its clean, everything works and the Florida sun hasn’t destroyed the paint buy it.
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Old May 6th, 2011, 07:33 AM   #4
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buy my coupe for 7.5 kthx
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Old May 6th, 2011, 07:54 AM   #5
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Originally Posted by 1LOUDGT View Post
Iím not a fan of a heavy vert with an auto transmission. That being said it sounds like a good deal if thatís the style your looking for. Have you looked at what is for sale out there? People ask crazy money for their so called 8/10 cars down here. Iíve seen more 4 and 5 k pieces of shit in the last 3 weeks. Oh and fucking god forbid its got less than 100,00 miles on it. Sorry for the rant. If its clean, everything works and the Florida sun hasnít destroyed the paint buy it.
Yeah I was actually looking for an lx 5.0 in the 89-93 year but I must have looked at 20 cars on craigslist over the course of 3 months and all of them were ragged out beaters in the 3500-4500 price range. I finally came on the 87 conv 5spd with 66k orig miles that was in really good shape and I settled. I would say to the OP that don't think you will just spend this 4k and be done with it. I just dumped 17K on mine on engine and transmission and chassis stability.
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Old May 6th, 2011, 10:29 AM   #6
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I mean I'm only 17 so I'm not gunna be dropping that kind of money on the car, nor do I plan on modding this car to any extremes like so many teenagers seem to be doing. That said, I will be updating certain aspects of the car, like replacing the old fogged and mosture plagued headlight housings, painting the calipers black and replacing the current faded red molding stripe with a black one. Along with those very minor mods I will repair the bushings on the quarter windows with the avaliable kit and do all basic maintnence and do various systems inspections.
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Old May 6th, 2011, 10:39 AM   #7
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if you leave it stock and drive it like old people fuck it'll last you 20 years easy.

convertables typically don't bring in the money others do because they are not desirable to the crowd that owns these cars.. the crowd is mostly made up of young kids or middle aged people that all want to go fast for cheap and a vert makes that process harder and more expensive so they tend to sell for next to nothing but any fox body with low miles and stock will bring good money.
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Old May 6th, 2011, 11:36 AM   #8
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Originally Posted by phares_b View Post
I just dumped 17K on mine on engine and transmission and chassis stability.
WTF
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Old May 6th, 2011, 11:42 AM   #9
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17k? iv got some cheap beach frnt property in iowa ill sell you....
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Old May 6th, 2011, 11:44 AM   #10
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I paid 3k for mine (92 gt hatch, 5 speed, bright red, sunroof) last year, almost stock (exhaust and 3.55s) with <150k miles. Only problem, peeling clearcoat on hood.
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Old May 6th, 2011, 11:46 AM   #11
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i got lucky. tradded a 92 civic hatch that was a lil riced out for my 5.0 lx. i made out like a bandit
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Old May 6th, 2011, 11:47 AM   #12
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No one on this forum knows what it means to dump 17k into a car.
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Old May 6th, 2011, 11:53 AM   #13
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Originally Posted by flattusmaximus78 View Post
No one on this forum knows what it means to dump 17k into a car.
not tru lol i bought my ranger for more than that hahahahahhaa
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Old May 6th, 2011, 12:00 PM   #14
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Originally Posted by flattusmaximus78 View Post
No one on this forum knows what it means to dump 17k into a car.
lol at poor people (j/k)
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Old May 7th, 2011, 04:12 PM   #15
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sounds like a good deal to me as long as the trans and top are good. I bought my 89 lx vert last year for 1200 needed 4 tires a back window and a trans od was gone for a total of 3500. but dont thing that will be it thats just the start!!
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Old May 7th, 2011, 04:39 PM   #16
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Originally Posted by flattusmaximus78 View Post
No one on this forum knows what it means to dump 17k into a car.
Stuff adds up fast.
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Old May 7th, 2011, 05:19 PM   #17
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Originally Posted by flattusmaximus78 View Post
No one on this forum knows what it means to dump 17k into a car.
I bought my 90 gt hatch for $700! Granted it smoked and was all fucked up, but I bought it with the intentions of building it. I have about 17k in receipts. Honestly, I'm scared to add them up cuz it'll ruin my day.

Also, watch out for Florida registered vehicles. Out here in Nevada people have been known to take branded titled vehicles (Salvaged, Flood, etc) and register them in your state to get rid of the brand and clear the title. Just something to consider... And don't trust carfax... Its bullshit... I flipped a wrx sti a few years ago cuz I was dui and the insurance company fixed it and carfax still shows a clear title. I got rid of that car 2 weeks after I got it back... I went through a carwash and it was like taking a shower... It leaked from everywhere... Good times...
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Old May 7th, 2011, 05:59 PM   #18
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Originally Posted by dennislv View Post
I bought my 90 gt hatch for $700! Granted it smoked and was all fucked up, but I bought it with the intentions of building it. I have about 17k in receipts. Honestly, I'm scared to add them up cuz it'll ruin my day.

Also, watch out for Florida registered vehicles. Out here in Nevada people have been known to take branded titled vehicles (Salvaged, Flood, etc) and register them in your state to get rid of the brand and clear the title. Just something to consider... And don't trust carfax... Its bullshit... I flipped a wrx sti a few years ago cuz I was dui and the insurance company fixed it and carfax still shows a clear title. I got rid of that car 2 weeks after I got it back... I went through a carwash and it was like taking a shower... It leaked from everywhere... Good times...
Yeah no joke. I had already spend around 4k for all ss exhause, maf conversion, gears and replacing all the cabin electric motors and convertible mechanism before this so I have about 28k in it at this point and I haven't touched suspension or brakes yet. If you don't have a healthy bank account you need to find a new hobby.
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Old May 7th, 2011, 08:03 PM   #19
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I average about $750 a month in parts. For the past 2 years!
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Old May 7th, 2011, 08:25 PM   #20
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Originally Posted by dennislv View Post
I average about $750 a month in parts. For the past 2 years!
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