First time classic 'stanger to be?

[p.exeter_bleu]

ok so i've been had some kind of mustang since i've had my driver's license. Sn95's and 2 5.0 fox bodies.

recently i came across a 1970 mustang coupe 302 c4. i know that the coupe isn't exactly sought after but i really like the car and want to purchase it.
the car im looking at right now, the owner is listing it for 3,300 obo, i went to go check it out today, but wasnt dressed properly nor had the tools to get under the car and really look at it.

the good
new engine good drive train
no outer panel damage
clean title
recently painted

the bad
needs complete interior restoration
owner said theres a rust spot below drivers side
i found a pinhole in a dirty/rusting area in the trunk

1) what would you offer at this point?

i want the car and am willing to put forth the time and effort to get it up to my liking but the rust bothers me. also the car has been sitting in a gated off dirt lot for quite some time so the metal and undercarriage are covered in dirt/mud

2) how can i tell what is dirt and old oil and what is rust without going to town on this guys car with a wire brush or water?

i plan on taking some jack stands and getting under the car next time i go look at it,
3) what are the most critical parts of the frame i should be looking for rust/damage and what else should i look for while im down there?

i really appreciate any feedback you guys could help out with, i really want a classic mustang project and like this car. i just want to make sure i dont buy something that i cant fix or wont be worth restoring in the end. i dont want to go far into the project fixing everything then discover something that totally devalues the car or makes it a total loss.

thanks in advance i hope to be back here soon!

 

[silver66pony]

I got a 1969 coupe with a new crate moter not installed needed a new int and lots of body work off E bay just pictures is all i saw of it and i payed 6.000 for it

 

[tx65coupe]

My friend has a 70 coupe that is dark metallic green with ginger interior. I think its pretty cool.

 

[2+2=cool]

It never hurts to make an offer. All he can say is no. You may know this already but look at the core support and the frame rails if they are bad drop your price. Both of these can be fixed, it's just a matter of how much you want to fix. I say if you really want the car go for it no matter how much it needs because as you know it can all be fixed. Start your offer low($2,000.00) depending on how much rust you find and go from there. My 66 fastback was so rusty when I found it and I knew it would take a lot of time and work but IT WAS WORTH IT. I hope this helps.