Looking into buying a '66 Pony! Help!

[MyStangy_03]

I was wondering what the value of this car would be. I can't find it on kelley blue book because it only has up to year 1992 or something.

Its a 1966 Mustang 289 V8.

The description says :
nice sounding dual exhaust,
air rear suspension,
new gas tank,
sport tires with Pacer alloy locking wheels,
new battery,
3 speed automatic transmission.
The black vinyl interior is all original and in excellent condition.
Also has Jensen AM/FM/cassette radio
two 6x9 speakers in rear.

What needs to be fixed :
fan shroud for radiator
driver and passenger side window regulators
speedometer cable (odometer shows 44,416, don't know actual mileage),
a few primer spots ready for paint.
Also have original hood, chrome trim, and lettering kit.

p.s. fuzzy dice are included. haha

He will sell it to me for only 5,000. There is absolutely no rust, and it "runs great". His reason for selling at such a low price is because he is moving and will not have room for it in the new place so he needs to get rid of it, and with the economy being so low people arent buying cars that are expensive.

I was wondering if you guys think that its too high of a price for a car that needs a paint job and all the other stuff listed, but at the same time its not a rot-box and has a beautiful black interior, so maybe it is too low of a price and there is something else i am missing.

Ive never bought an older car before so I do not know anything about pricing besides the nicer and more restored they are, the more expensive.

advice please!
thank you so much !

 

[jmiller]

For a GOOD paint job on a classic you're talking 8-16K depends on the kind of job you get done. Show quality or what? Does the engine run? Did you go look at it? I'm on my phone but I'm assuming there are pics in the post I can't see. Check ebay for 66 ponies with similiar engines.

 

[1990_LX]

Sounds pretty cheap....I would examine that thing with a magnifying glass at that price...

 

[ford20]

PM ponyboy289, hes like the classic Mustang guru. I would go and see the car and take a magnet with you and attach the magnet to some sheet metal especially by the wheel wells and such to make sure that it is metal and not bondoed and stuff. That's my .02 cents added into everyones suggestions

 

[MyStangy_03]

For a GOOD paint job on a classic you're talking 8-16K depends on the kind of job you get done. Show quality or what? Does the engine run? Did you go look at it? I'm on my phone but I'm assuming there are pics in the post I can't see. Check ebay for 66 ponies with similiar engines.

theres no pics but i will post some if that will help.

it runs, and no not show quality just a little project for me. Just nice enough to please myself! And I did not go check it out yet but I am planning to.

 

[jmiller]

yeah post some pics up, please.

 

[MyStangy_03]

It's not really a project car , it doesn't need very much maintenece so I wouldn't exactly call it that lol

 

[ponyboy289]

PM ponyboy289, hes like the classic Mustang guru. I would go and see the car and take a magnet with you and attach the magnet to some sheet metal especially by the wheel wells and such to make sure that it is metal and not bondoed and stuff. That's my .02 cents added into everyones suggestions

Yea, You should do what he said.LOL.

That said feel free to pick my brain on this car as much as you need to. I always tell people to look before you leap when getting into the classics. The problems/issues that you can see are usually only 50% of the problems with the car if you're lucky.Please post any additional info if you have any,whereabouts in Westchester are you located? I'm in westchester. Whereabouts is the car located? Perhaps I'd take a ride with you to look at it.

P.S. I own a herd of Mustangs mostly 65-66's and I've been messing around with these cars(for myself and others) for many years. I have yet to see one that just needs paint.I say that because unless it is a done car in addition to needing paint chances are it will wind up needing more whether it's chrome, electrical,suspension,brakes,etc.

 

[Mike65]

I too have been messing with the classic Mustangs for a long time (since 1978) I have yet to see a Mustang with NO rust. Check the rear frame rails where the spring shackle bolts up to, my 65 Fastback is rotted out there, check the cowls, they are a common rust out spot on early Mustangs, & if the cowls are rusted out, you can bet the front floors are too. Any more questions feel free to ask, we will help you any way we can.

 

[MyStangy_03]

thanks so much for all the help ! ive decided to pass it up, mainly because it is SO far to travel to either love it or be really dissapointed. too bad though , i really would have liked to see it. wish it was closer !

 

[ponyboy289]

thanks so much for all the help ! ive decided to pass it up, mainly because it is SO far to travel to either love it or be really dissapointed. too bad though , i really would have liked to see it. wish it was closer !

So are you still in the market for a classic? The Mustang world could always use another classic owner.If so knowledge is your best tool when it comes to looking at these cars,you should research them,this is the best time,That way when the next deal comes along you'll be more prepared.Plus it helps to keep an eye on the market,and put the word out for what type of car you are looking for? Budget,etc.
I am constantly coming across cars that I pass on because I am out of time and space for more Mustangs(too many). Out of curiosity whereabouts in Westchester are you located? If you ever wanted to get a tutorial on them,areas to pay special attention to when looking at a car to buy ,etc. I have cars in all shapes of disrepair that you could view to get an idea.Whereabouts was/is the car located,what was the whole deal on it,(If you don't mind sharing the info,you decided not to buy it,correct?)Not that I want to buy it,but maybe I know someone plus like I said I like to keep an eye on the market.

 

[carl.berg]

ponyboy289, where is westchester located as I could definitely use one of those tutorials.

 

[BMad]

Take ponyboy up on the offer. Hell, if it's a standing offer I might take a road trip. It's very easy to get deeply involved in a classic car that is beyond your budget, time that you want to invest, or capabilities. Mustangs or other cars may look beautiful up top but, rotted torque boxes, cowl vents, or other parts might put you in a situation that you weren't expecting or prepared for.