Modded Mustang Forums banner

1 - 11 of 11 Posts

·
Registered
Joined
·
40 Posts
Discussion Starter #1
I have an opportunity to buy a 1966 mustang project car. Its a 289 c code with automatic transmission. Originally that light blue color with white interior (ugly in my eyes). The car is complete and a very solid car. Has been stored inside for many years. It has seen its better years but an in all would make a nice cruiser when done! It needs paint and the interior needs work for sure. I'm really not sure on the condition of the engine, trans, rearend but the owner said it ran about 4 years ago. My personal belief is that with a little work it should run and drive! I am able to do everything myself and my thought its take the car apart and paint it like it should be painted. I want to have a quality paint job and have a good looking car when its done. My questions are what is something like this worth now? What is it worth when its finished considering its in good condtion? To maximize my profits should I restore the car back to stock or should I "hot rod" it? What would be a good color to repaint the car? Keep in mind my motive is to restore this car to make a profit on but yet still doing a good job in the process! Or am I just completely nuts thinking I can make money on this '66? I figure i could have the car done by spring time since that is usually the best time to sale! Thanks guys..
 

·
Registered
Joined
·
1,351 Posts
I'm sure some will disagree with me, but I don't see how you can make money on a classic unless you work at or own a restoration shop and have access to everything you need. I think an amateur/hobbiest would lose a leg. I've heard lots of hobbiest say they are $10-20k upside down.
 

·
Watch n learn
Joined
·
876 Posts
Ya, tough to make a profit on something like that, but possible if you get it cheap enough. With paint and in good running condition it's probably worth around $10k I'd say.
 

·
April 2010 ROTM
Joined
·
518 Posts
The only way to really make money flipping one is to either buy it as a project for a great price, clean it up a little, and resell it as a project, or invest a crap ton of money building something special, do most of the work yourself, and then pray you make something off all your hard work.
 

·
Premium Member
Joined
·
10,592 Posts
It's pretty hard to make money on those, especially if it's going to need paint.

Check the floor boards under the dash for rust. If the cowl leaks your going to have a fun time drilling spot welds.
 

·
Registered
Joined
·
40 Posts
Discussion Starter #6
The body has very little rust and this is why has caught my interest. It does need the floor pans replaced but included in the sale. I restored a 1968 a couple years ago and it was a disaster with rust. Now lets say I do get the car, do you guys think I would be able to sell it for more money being stock or would It be better if I did like the Shelby racing stripes, mag wheels, exhaust?
 

·
Registered
Joined
·
3,813 Posts
I think you are looking at this all wrong. Don't buy this car in hopes of selling it. You will end up in the hole. Unless you can basically steal this car then you will be in the red to sell. I suggest you pass on this and let someone willing to put the time and hours to make it theirs find it.
 

·
Premium Member
Joined
·
2,247 Posts
They come around about once every other month. I just passed on one 2 weeks ago for a 1966 fastback A code for $4500. It had rusty frame rails and need everything that had the word floor in it.

I use SearchTempest every morning to see what is new out there. Also people call us from time to time to sell their Mustang. The main thing is to know what you can resale.

I try to resale them with little work into them. Just clean them up and make the look a little better. The goal is to make at least 2k on them with less than 3 hours of clean up.
 

·
April 2010 ROTM
Joined
·
518 Posts
Mustangone is correct...the best way to make money is to find and flip them without putting much work into them. I haven't stumbled upon many recently that were worthwhile, but I also havent been looking as much as I used to.
Be honest when listing the cars and only invest in those that have clear paperwork, especially if you are in a state that is tough on older titles and registration slips, otherwise you might get stuck dealing with the DMV for two years. It's happened to me a few years ago with a midyear Corvette and I live in a fairly lenient State when it comes to registering an antique car.
 
1 - 11 of 11 Posts
Top