1967 Mustang opportunity

A family friend has their 1967 Mustang for sale. They bought it new for Grandpa to drive - seriously... He put 18000 miles on it up until he died in 1977. It now has 28000 miles on it. The owner just turned 81.
It is a 289 automatic with PS. It's always been garaged and never driven in rain or snow. It looks showroom inside and out. The family takes excellent care of the Lincolns and Ford pick ups.
My wife & I have always liked the old Mustangs, but have not been searching for one. We see this as one of those "once a lifetime" situations due to us really knowing the history of this car and may buy it. Thy're asking $13000, but I think that I could buy it for $10000 or a little less. Is it a decent deal? What should one look for on a car like this? I don't know much about Mustangs.

A car like that is not offered for sale very often. If you really want it buy it or you will regret it later.

Just be ready for the repairs like seals and such that just plain dry up on these cars. I bought a 73 914 Porsche in 1986 and still have it. It now has only 54,000 on it. I have never regreted buying or keeping it. There were times that storing it was difficult but it has become part of the family.

Today it is worth twice what I paid for it. If that pony car was convertible, I would be asking you where it is. [img]/forums/images/icons/cool.gif[/img] I would still give 13k for it with its history.

Good luck

If you do buy the car,[and you should. [img]/forums/images/icons/grin.gif[/img] ] hear is a place to check out...

vintage mustang fourms

A REAL good group of people there. It's like a Tractor Bynet for Mustangs. Yes it's that good.

I'll check out the site. Thanx for the help.

It's been a long time since I had my '66 coupe but I'm guessing if the car is a 289 really in showroom condition w/ 28k on it's worth $10k easy and probably a LOT more if it's a fastback. My understanding is that it's incredibly hard to find fastbacks that haven't been souped up and trashed, and that was 15 years ago when I had my 'stang.

It is a factory maroon standard coupe and has...
automatic on the floor, power steering, turn signal indicators in louvers in the hood facing the driver that may be a special option, black vinyl interior, low back bucket seats and lots of chrome inside, interior sideview mirror controls in the doors, and wire spoked wheel covers.
It has a standard clear, clean & ford blue 289 2 barrel (probably 225 horse) with stock factory single exhaust. He started it right up and it runs very smooth with the sound of those 60's V8's. He has stored it the last 25 years in barn on concrete floor with rubber stall pads under the car while driving it once in a while in the spring, summer or fall. He has replaced the master cylinder, 5 batteries, belts, hoses and tires.
That is most of what I know for now.
I offered him $10000 cash today -> he's sticking at his $13000. I haven't looked at the original invoice or got the VIN# yet.

Having gone the full and partial resto routes for myself and others, I can tell you that it is usually cheaper in the long run to buy something that has had a good portion of the work completed or has been done by someone else. The best route is to get an unmolested car, such as the one you've described, unless you just want a shell to build your own hot rod, race car, etc.
You would spent $10K easily to take a car from an average driver to the condition of the one that you have described. I think that it's up to you whether or not to add $3 to your offer and be done with it.
Some considerations:
Unlike buying a new car, the 67 will appreciate slowly or at least hold an even value. The original invoice would of course list the options, etc, but as a guide to what you should pay now, it's meaningless.
It's a known value and history, unlike some of the eBay GEMS out there [img]/forums/images/icons/tongue.gif[/img]
It has factory options that are desireable.
It would (hopefully) give you that "miles of smiles" factor.
If you buy it at whatever price be prepared to spend a few more $$ for items that may need replacement - that's the nature of the beast.
If you decide to buy it, ask if the car can be inspected at an independent mechanic to close the deal - anyone that has nothing to hide would not usually have a problem with this.
If you are able to work on your own cars, all the better. You will save money and have the satisfaction of doing it right and caring about it.
If the car is worth it, and you are able to get that personal enjoyment out of it without sacrificing funds, time, family, etc I don't think that the additional $3k is a hindrance.
Easy for me to say about your money ! [img]/forums/images/icons/cool.gif[/img]
Good luck!

I'm not really sure about the $$$s, but that is a rare find, for sure. You won't see another chance like this for a long time, if ever. If you do buy it, I'd suggest that you not use it for a daily driver - a big part of the value is the low original miles and the mint, original interior / exterior. But it is true that it won't depreciate and may actually appriciate in value.

Those are sweet cars - my grandma had one that was original and mint that she sold to some kid a while back. Boy was I upset - I wanted that car! And the buyer got a great deal, too. My grandma sold it for "more than she paid for it", which was true but the car was worth more than she sold it for (purchase price was $2400 or so - according to the original sticker, that she still had).

But it is a collector car, so keep that in mind. I'm sure someone will pay in the neighborhood of what they are asking. If I had the cash I'd be interested [img]/forums/images/icons/laugh.gif[/img]...