Should i buy a 1965 Mustang Coupe for 8k in excellent condition? - Mustang Evolution

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Old 08-19-2009, 11:30 AM   #1
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Should i buy a 1965 Mustang Coupe for 8k in excellent condition?

My friends grandfather is selling his 1965 mustang coupe for 8000; Brand new interior and brand new paint job; original engine and original transmission, new tires and new brakes. The transmission has a small slow leak; which my dad believes is just a gasket.

I personally love the car, but my dads being transferred to alaska and im not sure about how the city of anchorage uses salt to melt the ice and snow from a snow storm; that would rust the mustang so fast.

Its a great car; two owner; and well taken care of. The other problem is i only work at McDonald's and make $6.50 an hour in OK; Id have to get a loan; would that be possible im 17 with no credit. parents could cosign?

The mustang with my friend and his gf in front of it
http://img225.imageshack.us/my.php?image=mustangzl9.jpg
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Old 08-19-2009, 11:46 AM   #2
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Should i buy a 1965 Mustang Coupe for 8k in excellent condition?

Keith,

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)

Rebecca
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Old 08-19-2009, 12:08 PM   #3
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Should i buy a 1965 Mustang Coupe for 8k in excellent condition?

Sounds like an awesome car i would get it in a heartbeat.
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Old 08-19-2009, 12:27 PM   #4
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Should i buy a 1965 Mustang Coupe for 8k in excellent condition?

Buy The Car! That way you will always know where all your money goes.
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Old 08-19-2009, 12:50 PM   #5
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Should i buy a 1965 Mustang Coupe for 8k in excellent condition?

if you can afford it, BUY IT. Cars like this are an investment, and will appreciate in value if you take care of them. If your parents Co-sign, a small loan shouldn't be hard, assuming their credit is good.

If it's leaking from an auto trans, it's probably just a transmission pan gasket or something else simple. if not, it's no biggie, mine had an auto in it for a long time that was slipping and it never, ever gave up. I finally decided to convert it to the t-5 transmissions used in later mustangs.
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