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I am in the process of buying my first car and have narrowed it down to two choices, a 1968 ford mustang coupe that has a rebuilt cobra 302 engine with <1000 miles on it and a great interior, but some minor rust. My other choice is a 1976 corvette with no rust, rebuilt 383 stroker with less then <5000 miles, trans was just rebuilt around 50 miles ago. Which one will be more reliable as a everyday driver? Is one going to cost significantly more to maintain?

I understand that both cars are impractical first cars for a 17 year old but I have made up my mind so please do not try to dissuade me.
 

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Minor rust? Check the cowl for leaks, check the frame rails, floor pans, shock towers. Minor rust has a bad habit of becoming major once you really get into it. If it has thick undercoating so you can't see the pans well, or the cowl leaks, the Mustang isn't going to be the best choice.

I'd suggest doing the same of the Corvette. Just because the body is fiberglass, the rest isn't and that can mean hidden rust issues.

If both clean and the Stangs rust really is minor, I'd go with the Mustang. I'd also say you find out who rebuilt the motors. A reliable shop, with receipts to prove it, or a back yard shade tree mechanic? There's no guarantee that either did a good job, but you've got a better chance with a shop.
 

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Both are going to be expensive to up keep regardless. These are very expensive cars you mention at that. So with that said I would see the value of each and take the one that will be worth more as an investment.

Whatever you do though don't let the teenager hormones rage and race these beautiful generation of past cars. You got money in the bank owning one of these. Don't turn thousands of dollars into zip!

*comment*

Edward C do you realize the price tag on a 68 mustang coupe? Rust spots are nothing to patch up and that generation of mustang is a car worth fixing up regardless cause it does hold a very high price tag.
 

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i would go with the corvette just because it has not rust spots any where but it is all about what you want. don't get me wrong i like fords but with the rust on the ford it could turn into more problams and more money then the car is worth.
 
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