Oh trust me, I've thought about it!! There's Navasota raceway not far from me, and the car club I joined does have several folks who take their cars down to the track. I was tempted to take mine down there one day just to see what she can do, but no seat belt, funky brakes... just not worth killing myself.
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Need advice
- Thread starter Kats66Pny
- Start date
Oh trust me, I've thought about it!! There's Navasota raceway not far from me, and the car club I joined does have several folks who take their cars down to the track. I was tempted to take mine down there one day just to see what she can do, but no seat belt, funky brakes... just not worth killing myself.
sigtauenus
Active Member
One thing to remember here that cannot be emphasized enough is that a lot of the stuff you are talking about just to make the car drivable add no value to a car. When somebody comes and looks at a car, its generally given that the brakes work. If you spend $200 on brakes, that doesn't mean the car is worth $5200. The value hasn't changed, you've just incurred an expense that is part of regular maintenance. The same goes for tires, steering, etc, unless you make a real performance upgrade over stock. In the case of a real performance upgrade over stock, you will see a marginal increase in value, but certainly not enough to justify the expense if your only intent in doing so is to increase the value of the car.
If you want to sell the car, sell the car as-is. You cannot upgrade the condition of the car to a point of higher value without ending up further upside down financially. At this point in time, the only way to come out ahead is to cut your losses where you are today and not spend another dime on the car.
One option here is that hasn't been mentioned is that you can add parts to this car and then transfer them to your next car assuming you stick to a 66. BUT, doing so incurs 3 times as much labor. Say you add ORP roller perches. The car drives great and you love them, but they're $200 for the set. You buy a 66 fastback. You take the roller perches off the coupe, install the original perches back on the coupe, then install the roller perches on the fastback. You have effectively completed the process of removing and installing the spring perch 3 complete times rather than just once. You end up with roller perches on your fastback, and have not lost any money for the time they were installed on the coupe. You enjoyed a better ride while you were driving the coupe. But to avoid losing money, you lose the time involved to transfer the parts. Make sense? If so, you can spend money on the coupe to make it more enjoyable while you have it with the intention of transferring the parts later to another car, but you also have to keep all the original parts from the coupe to put back on to sell later. The downside here is that except for drivetrain parts, almost anything you buy locks you in to a 66 for the next car.
Since you asked for advice, mine is to dump the coupe right now as-is and look for what you really want or accept the coupe as the car you want to build and spend more money on it than it is worth to make it what you want it to be.
FYI, most of us here are spending more money on our car than it is worth, some moreso than others. Also, AzPete is a rare exception with the deal he got.
If you want to sell the car, sell the car as-is. You cannot upgrade the condition of the car to a point of higher value without ending up further upside down financially. At this point in time, the only way to come out ahead is to cut your losses where you are today and not spend another dime on the car.
One option here is that hasn't been mentioned is that you can add parts to this car and then transfer them to your next car assuming you stick to a 66. BUT, doing so incurs 3 times as much labor. Say you add ORP roller perches. The car drives great and you love them, but they're $200 for the set. You buy a 66 fastback. You take the roller perches off the coupe, install the original perches back on the coupe, then install the roller perches on the fastback. You have effectively completed the process of removing and installing the spring perch 3 complete times rather than just once. You end up with roller perches on your fastback, and have not lost any money for the time they were installed on the coupe. You enjoyed a better ride while you were driving the coupe. But to avoid losing money, you lose the time involved to transfer the parts. Make sense? If so, you can spend money on the coupe to make it more enjoyable while you have it with the intention of transferring the parts later to another car, but you also have to keep all the original parts from the coupe to put back on to sell later. The downside here is that except for drivetrain parts, almost anything you buy locks you in to a 66 for the next car.
Since you asked for advice, mine is to dump the coupe right now as-is and look for what you really want or accept the coupe as the car you want to build and spend more money on it than it is worth to make it what you want it to be.
FYI, most of us here are spending more money on our car than it is worth, some moreso than others. Also, AzPete is a rare exception with the deal he got.
AzPete
Well-Known Member
Remember.....cash talks...........and let the car sell itself.
"sigtauenus" said:
I resemble that remark.
I've figured out you probably are never going to make money on trying to flip a classic Mustang. People in my neck of the woods want a couple thousand for cars that I wouldn't give $500 for as a parts car. For some reason when they have an old Mustang some folks seem to believe they have a pile of gold in the yard.
It doesn't matter to me...I've been building my coupe for my enjoyment and building it the way I want it. If it happens to add value great, if it doesn't...who cares.
If the market would come up in price a bit more I might could break even on my car if I found a real sucker, doesn't matter to me though.
I'd say your best bet is don't spend another dime on the coupe unless your fixing it up for your enjoyment and plan to keep it for a long time to come. Sounds like you'd be better off selling it as is.
sigtauenus
Active Member
"Kats66Pny" said:
Don't do it. I know its a buyer's market and you may take a bath on this, but that doesn't mean you need to invest your time and gas money on his curiosity. If he is really interested, let him come to you.
scedd
Well-Known Member
"Kats66Pny" said:
Dont get too carried away with telling all about the bad points.
Talk the car up, not down.
Its the same as if i scored a date with a beauty queen,
they will hear all about my huge inheritance and mansion, but nothing about my bad eye or shrivelled up testicle!
AzPete
Well-Known Member
"scedd" said:
I tend to disagree with that line of selling. I told the guy that bought mine every bad thing I could think of. I wanted no surprise calls about something I failed to tell him. If you don't hide anything, there is never a question as to the quality of the sale transaction. Also, I received all kinds of notes from John about his car before I bought it. Maybe I am to honest but I sleep good after a sale.
scedd
Well-Known Member
"AzPete" said:
I agree with you regarding being honest.
Integrity should always come first (which is why most of us will never be Real Estate Agents, Car Salesmen or Politicians)
My reference is to the sale of a cheaper "Doer-upper", rather than an expensive one like yours that is almost perfect.
2 different sales
AzPete
Well-Known Member
"scedd" said:
A sale is a sale....no matter what the quality of the item sold. I sold two '60 F100's in Az. The buyer saw two typed pages of things needing attention that I knew of...and that was just on the good truck...the other was for parts only. I also helped a tow company move abandoned cars....I told the buyers all I knew about them after driving them for a few days. It was their choice to buy....with no hidden problems.
Anyway....I hope you move it soon Kat.............
"scedd" said:
Ok I really didn't need that visual in my head. :lol
I took the mustang over to him. I didn't mind because I was going to take her out anyway and test the brakes (which btw still pulls to the right, maybe I didn't adjust the bearings right?) and she needed a gas fill up before tonights Friday night cruise in.
The guy owns a used car dealership. :ep We pulled in and there was a white 66 coupe sitting there. Sold already though. Damn! Anyway, he liked the stang, and offered $3k cash. I said I don't know, that I wasn't in any rush to sell since I'm still undecided on what to do. Then he said $3.5k cash.. I said nah.. he went to $4k cash. I said I don't know, let me think about it and he said if I want to let her go for $4k, give him a call. I don't trust car salesmen so figured I'd see what you all thought about what he offered.
For $4k, do you think I could find a mustang in decent shape with so-so interior (seats, correct gauges, seat belts, etc) with nothing major needing fixed like rusted floor pans/cowl vents/things that would require me to weld?
AzPete
Well-Known Member
No......unless you find someone real desperate to sell.
The $4000 offer is pretty fair but you have looked around and know what is out there. I might tell him $5000 and it is his since he sees a $6000 price advertised.
You will have to take your time buying the next one with the limited funds. Most have at least one major problem in that price range.
The $4000 offer is pretty fair but you have looked around and know what is out there. I might tell him $5000 and it is his since he sees a $6000 price advertised.
You will have to take your time buying the next one with the limited funds. Most have at least one major problem in that price range.
scedd
Well-Known Member
If he will give you 4k, it is worth 6k.
He is a car dealer, not a charity.
He is a car dealer, not a charity.
The white 68 coupe folks sounded like they were in a hurry to sell it. The wife is due to have their baby in about a month and they need a family car. So I guess it just takes some patience and finding the right person to buy from.
I told him I wouldn't take less than 5, that if I didn't get atleast 5 then there's no point in selling it and I would just keep it. Thats when he offered $4k. If a car dealership guy is willing to pay $4k then I'm sure there's someone out there who would pay $5k or more. Hell I paid the $5k for it. :shy I also learned the white 66 that was out there is the same one listed on craigslist that was for sale for $4000 and has a blown rod. He said he just bought and sold it the day after he bought it. Wouldnt suprise me if he bought it, sold it for 5 or more and its still in his parking lot even though it's sold because the new owner needs to get it towed home.