Should i buy a 1965 Mustang Coupe for 8k in excellent condition?
While cars LIKE this CAN appreciate in value, they only do appreciate in value if they continue to be in mint condition. Alaska = rust and other issues that, if you're going to drive that car, you're going to encounter. Your '65 Mustang won't be worth squat if you slide off the road and wreck it in a ditch. My husband is an excellent driver. Grew up in Michigan. Harsh winters. He wrecked more cars sliding off the road in deep, heavy snow and black ice. He wasn't 17. He was 26 and had been driving for a long time.
A car like that, Keith, is a truly wonderful thing. But I would strongly advise you to WAIT. I fully admit it's a dream car. but you must use your head and not your heart. Be the logical man that men are supposed to be, and think about it on all sides before making what amounts to an emotional decision. Your parents would certainly be proud of you for choosing NOT to get into debt like this, especially with college looming around the corner. And as you're rapidly approaching adulthood, this is the ultimate adult decision, to choose to think about your future rather than your right now.
Furthermore, a leak in the transmission COULD be just a gasket, but it could be a sign of needing a new transmission. Have you got $2000 for a new tranny? If not, you'd better think about it very carefully. It's lousy to own a car that you have payments on that you can't even drive. I've had one of these issues. I had a wonderful van that I owed $5000 on. Then the transmission went out. Couldn't drive it. Had to continue making payments. That car sat in my driveway for A YEAR while I made payments before I could get the transmission fixed.
And if you're moving to Alaska, your insurance is going to be higher than if you lived in, say, Arizona, because of the snow and the ice.
DON'T buy this car, Keith; you will regret it later.
(See my other post)