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Old 03-14-2010, 07:30 AM   #1
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I want a Mustang when I get out of college?

Ever since I was about 5 I thought the new Ford Mustang's(the ones from the late 1990s)were so cool and I wanted one. Now that I'm 16 I have about $5000 saved up but I wasn't going to get one til I get out of college. Then I saw Mustang's from the 60's and fell in love with them. Problem is most of them are at least $15000(a lot compared to the cheaper Mustang's from the late 90's). My question is as soon as I get enough should I buy it and store it in my parent's garage(which they never use)til I'm out of college or do you think the price of a 1964-1970 Mustang will go down in the next 6 years?
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Old 03-14-2010, 08:09 AM   #2
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I want a Mustang when I get out of college?

Here is my take on it, as I own a '70 and a '95 Mustang. The early Mustangs will hold steady or continue to rise in value, especially once this whole economy goes back up. The late '90's Mustang will drop a little more, but at some point they will hold steady in their values. Some of the early '90's models are already doing this. For a driver, the '90's are far and away a much nicer car to drive. I love my '70 Mustang, but it is not as comfortable to drive as my newer Mustang. The older Mustang will have a higher buy in cost, and will need more restoration work than a later Mustang simply because they are older and have most likely been driven lots more miles. If you want the older one, go for it. You will love lots more people complimenting you and admiring your car, but if you want something that will cost a bit less and need less maintenance then go for the later model Mustang.
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Old 03-14-2010, 08:42 AM   #3
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I want a Mustang when I get out of college?

The late sixty's were great car's, back then! Get one of the new styles, they are safer. I guess that you want a daily driver, the 60's were fire traps in a rear end collision. You can retrofit the cars if you can still find the kits. Insurance will be higher, as will parts(you are looking at a 40 year old car) . I have owed a 69 Mustang, 70 Mustang, 70 Torino, 93 Mustang, and a 90 Mustang GT conv.. the new cars are a lot cheaper to run and drive.
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Old 03-14-2010, 09:03 AM   #4
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I want a Mustang when I get out of college?

The price will continue to go up. I would suggest that you check for a mustang car club in your area, and have your parents talk to someone there. That will give you an idea of what you are in for - cost wise - if you decide to own a Ford Mustang.
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Old 03-14-2010, 09:50 AM   #5
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I want a Mustang when I get out of college?

kbb.com or edmunds.com ?
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Old 03-14-2010, 10:34 AM   #6
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I want a Mustang when I get out of college?

First I want to applaud you on your choice to get educated and secondly I share your affection of the Mustang. I have a 94.

The price of the 64-70's will only go up if anything. One of those would make a great investment, which is not something people normally say in regards to autos. Usually you lose money when buying a car.

If you are buying the car to actually drive it, then get the late 90's style. It will offer better driveability due to the electronic fuel injection and won't be in need of a totol restoration, unless it's really been hammered on. Try to find an automatic. They are typically less beat on and can easily be converted to manual if wanted.
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