Have a chance to buy a 1990 GT...need advice

[QUICK91LX]

Every day I pass this house and in the driveway sits a dirty and faded but solid 90 GT. Bright red on 3 turbines and one aluminum space saver spare. Last week I finally decided to knock on the door and I asked the guy what he was doing with it and if he would sell it. He said he hadn't thought about it but to throw him a number and he would definitely consider it. He said it was his daily driver till the water pump went on him so he parked it but never got around to fixing it. The inspection sticker on the car shows that it was due in 2003, so it last passed in 2001. Sometime within that window if time it was parked, so 5-7 years or so. I told him that sounds good and that I couldnt stay (had to get back to work) but I would look the car over and come back when I had more time. I got the chance to go back over there with my buddy Tyler (82CapriRS on here) and his brother to take a closer look but the guy wasn't home...anyway here is what the car is all about...

Stock as stock can be. Completely unmolested. 147k miles. 5-speed. Body is straight and solid...doors and hatch are both rust free as is pretty much the entire underside of the car. Both front and rear bumper covers are cracked, but not badly. Headlights are the yellowest I have ever seen. Window frames are faded to almost white, and all moldings are shot. The interior is in pretty good shape, drivers seat has the ghetto lean but everything is there, undamaged and mostly clean. Aftermarket sunroof that shows no signs of leaking (smell or sight). The car looks like hell, but I think a good powerwashing and some elbow grease on the single stage paint might make it look half decent.

The only bad thing that I can find is the base of the drivers side shock tower is rusting a bit at the frame. Hard to tell just how bad it is, but obviously a concern.

Basically I gotta figure out if it is worth the time and money to get this car and fix it up, and also what to offer him for it. It definitely needs a thorough going-through...who knows what it will need...calipers, brake lines, etc etc etc...definitely tires...it has been sitting for 5+ years....

Any ideas? All input welcome. I'm sure I forgot some relevant facts so ask if you have a question.

Tyler took pics, but the bum hasnt gotten them to me yet. Get cracking dude!

Thanks guys...my tax return is coming and I'd like to use it towards getting another Mustang!!

EDIT: here are some pics...

 

[Darkwriter77]

Something like that, I wouldn't shoot a penny over $1,500 at it ... probably more like $1,000. It's not an extraordinary specimen, nothing rare, just a bone-stock GT with average miles that, from the sound of it, needs a LOT of TLC. ANY straight-bodied Fox has potential, though.

Offer him a grand, see if he bites. If not, rachet it up but make your ceiling $1,500 - anything beyond that, and you're better off looking elsewhere for something requiring less work for the same amount of money.

 

[82CapriRS]

its been sitting that long. i wouldnt offer more then $800 and i actually went with bill (quick91lx). its clean, but not clean if it makes any sense. btw, i sent an email so get goin on posting them bill lol. i think you should buy the capri or the lx you said you see sometimes. ill buy that gt and figure out what this guy over by me is doin with the twin of my car, only its a NOTCH! and ill buy that too lol. it even has the same paint as mine, red with black moldings lol. v8 car but no rust i can see, an looks straight...sounds like a start of another fox hunting day lol

 

[QUICK91LX]

got some pics posted...I was thinking around $800 or so. I really don't know how much it will or won't need, so I'd start around $750 and maybe get up to $1000 if i decided I really wanted it. It's a good parts car if nothing else.

 

[fiveohwblow]

I took a car in worse shape than that and spent a month and 2400 bucks restoring it. bought it for $500 and sold for $4500. Had a great time with the old man doing it and we saved another GT from the crusher. I say do it! It will make it so much more fun if you do everything. You can take pride you built it and didnt just buy it. Just my .02

 

[Makdaddymac]

agree with the above. 1500 max if the fox bug bites you. i think 1000 is fair. 800 to start things off. its worth 800 in parts if you know what you are doing.

 

[ID89GT]

You could probably make your money back parting it out pretty easy if you picked it up for a grand or less, depending on how well the mechanics of the car were

 

[Mustang5L5]

I picked up a car like that for $500 and easily made $2500 parting it out and even scored a black interior for my own car.

 

[85_SS_302_Coupe]

Don't let ugly scare you away from a car like that. Faded paint is one thing, but as long as it's not rusted out then it has potential. If it runs so-so, just use that as buying leverage when you make your offer.

 

[MAC'n89Blckstng]

Man, I want to get something like that and do a stock rebuild, minus headlights, exhaust, shifter, wheels and suspension. If you don't buy it Bill, let me know. I want something like this for when I finish the 88!!

 

[1990Coupe]

That is most definitely NOT a parts car

Before I ended up buying my project (for 600 bucks no motor or trans 4banger auto mind you) i was looking for something like this.. Chances are you slap a water pump on it and i bet it starts up and purrs like a kitten.. I Doubt it needs much work at all.

 

[LaserSVT]

Id do a grand for it. You sure that roof is aftermarket? Looks stock from the angles of the pictures

 

[QUICK91LX]

I am really thinking of going there with $800 cash and seeing if he bites, and going to $1000 if he balks. I would throw on a water pump, change out all filters and fluids and tune it up and see how she runs. Then see if it will move check for frozen calipers/wheel cylinders, etc. If all goes well, I could basically just clean it up and sell it or keep workin on it. But for $1000 or less, I don't really think I can go wrong. The rust at the base of the strut tower worries me a little, it is hard to see how bad it really is. I might go back down there tomorrow and hope that he is home.

The sunroof looks pretty factory, but up close and from the inside you can tell its aftermarket. It is smaller than stock, there is a distinct trim around the inside molding and the car has a cloth headliner.

Jesse I will definitely keep you posted...I may need your services on it if I do buy it!! And you hit the nail on the head with what I'd do with it...clean stock resto with subtle upgrades to the looks and handling and sound, but overall mostly stock motor.

One big reason I am even thinking twice about it is because I know I get discouraged when money gets tight or things get overwhelming...sold a few cars for reasons like that...but if Tyler and Jesse and whoever else I know on this board can keep a boot in my ass...I know I can make it something nice.

 

[82CapriRS]

i get dibs before jesse lol. one of us needs to buy it for sure

 

[MAC'n89Blckstng]

Yea bill, get a car and KEEP IT. You always make excuses for yourself!!!!

 

[1990Coupe]

One big reason I am even thinking twice about it is because I know I get discouraged when money gets tight or things get overwhelming...sold a few cars for reasons like that...but if Tyler and Jesse and whoever else I know on this board can keep a boot in my ass...I know I can make it something nice.

DING i do the same exact thing!!!! Sell cars when money gets tight etc

 

[QUICK91LX]

Haha yeah, thats part of the reason why I have owned a total of 27 cars. Money is tight, too much of a project, found something better...etc etc etc there is always some stupid reason.

If I had just saved some $ instead of buying a zillion cars, I'd have something ridiculously sweet that this board would drool over...instead I'm stangless and looking at a faded GT that hasnt moved in 5 years...

 

[1990Coupe]

Haha yeah, thats part of the reason why I have owned a total of 27 cars. Money is tight, too much of a project, found something better...etc etc etc there is always some stupid reason.

If I had just saved some $ instead of buying a zillion cars, I'd have something ridiculously sweet that this board would drool over...instead I'm stangless and looking at a faded GT that hasnt moved in 5 years...

I feel ya.. Thats why no matter what i can't sell the one i just built no matter what!! It has too much sentimental value anyways! Plus its history is apart of this board haha!

 

[QUICK91LX]

I feel ya.. Thats why no matter what i can't sell the one i just built no matter what!! It has too much sentimental value anyways! Plus its history is apart of this board haha!

No doubt...your car is awesome I like it a lot. It's hard to pay the bills sometimes now, though...so maybe a project of this type isnt a great idea...help! haha

 

[Strippt88]

Sweet find! Buy it, keep it, build it- getting too hard to find one some punk hasn't jacked around with anymore, with lots of things done poorly you have to undo before you can do anything with it. I found my LX in a friends garage in Calumet Park, it had sat for 6 years-$300. Threw a battery and some good gas in it, ran great, cleaned up the paint, and a guy offered ne 2K for it- I ain't selling though, its just what I wanted. Check that seat lean, make sure its not the floor under the back outside stand- can be bad spot for rust! Buy it, you need it!