I thought the owners past and present might have the best information to share on this subject. Hagerty Insurance has their own price guide and NADA has theirs, but as these models become scarcer, the word on the street from the guys who own them is the real value of the Fox Body Mustang today.
So as an example let's take the first of the 4-model years. A 1989 5.0 hatchback 5-speed. A standard base car with clear title. Purchased in WA State new in 1989 for $13,000, the original owner put 50,000 miles on the car and kept it completely stock. He had the car repainted a high quality original factory blue in 1998. At this time the second owner purchases the car for $6,500. and the second owner has 115,000 miles on the car today. Always garaged and adult driven on weekends. A stock interior with only the addition of the triple dash gauges. The original ford radio-cassette player moves down a little bit. The car has all the original owners manuals including accessory manuals in the glove box. At 100K brakes and shocks are replaced with stiffer Monroes and 4 new Goodyear Eagle GT's. The only modifications to the engine compartment include removing the AC, adding the larger aluminum intake, a 65mm throttle body, reduction pulleys, an oil cooler, a modified free-flow air box with a K&N filter, and a new Interstate battery. Aftermarket tubular headers were added with an off-road H pipe and stainless 2 1/2" Magnaflow exhaust. A big improvement in engine performance, milage, and a good current compression test is seen. A guesstimate of HP might be 275-290.
So what would be a fair market value of this example today?
So as an example let's take the first of the 4-model years. A 1989 5.0 hatchback 5-speed. A standard base car with clear title. Purchased in WA State new in 1989 for $13,000, the original owner put 50,000 miles on the car and kept it completely stock. He had the car repainted a high quality original factory blue in 1998. At this time the second owner purchases the car for $6,500. and the second owner has 115,000 miles on the car today. Always garaged and adult driven on weekends. A stock interior with only the addition of the triple dash gauges. The original ford radio-cassette player moves down a little bit. The car has all the original owners manuals including accessory manuals in the glove box. At 100K brakes and shocks are replaced with stiffer Monroes and 4 new Goodyear Eagle GT's. The only modifications to the engine compartment include removing the AC, adding the larger aluminum intake, a 65mm throttle body, reduction pulleys, an oil cooler, a modified free-flow air box with a K&N filter, and a new Interstate battery. Aftermarket tubular headers were added with an off-road H pipe and stainless 2 1/2" Magnaflow exhaust. A big improvement in engine performance, milage, and a good current compression test is seen. A guesstimate of HP might be 275-290.
So what would be a fair market value of this example today?