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T Code GT/CS - What's it Worth?

T Code Bob

Member
Joined
Mar 6, 2005
Messages
23
I'm looking to increase the value on my insurance policy for my GT/CS. I've had it at $7500 since I bought it in '97 (which may have been overvalued then). Since then, I've redone the engine, chasis, and interior. Also the GT/CS seems to have appreciated over that time. I've seen a lot of GT/CS lsited on e-Bay in the mid-20s. The problem is, they're all V8s. Since there were only 80 T codes, it's hard to set a value based on watching the market. With $3+ gas, are T codes worth more than V8s now?

Let me know what you think.
 

GTCSMustang

Well-known member
Joined
Mar 16, 2003
Messages
719
In comparable condition, a 6-cyl will not be worth as much as a V-8, no matter how much gas costs. And big V-8s will always be worth more than small V-8s. I'm not saying that there aren't people that prefer one over the other (rather have a 390 than 428, rather have a 6-cyl than 8-cly), but the price is dictated by the engine size.

Let the arguing begin...

Scott
 

390cs68rcode

Well-known member
Joined
Dec 29, 2004
Messages
2,864
Location
Houston Texas
insure it for $15k. might be a touch high today but in a little time it might be low. All they do is ask you what it is worth, you don't have the prove it.
 

BroadwayBlue

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Joined
Apr 26, 2005
Messages
2,900
Location
Hudson Valley Area, NY
I don't know - that sounds a little low to me.

NADA has avg retail on a 6-cyl at $13,200. 20% decrease for 6-cyl.

I went from $13,000-25,000 on my insurance in less than a year and they didn't blink an eye.

I have a 3-speed 302 with no options except dealer a/c. No p/s, no p/b, needs paint and interior. NADA has mine at $20,600.

Maybe $15,000 is about right but would it hurt to ask for a little more?
 
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Mustanglvr

Well-known member
Joined
Dec 4, 2004
Messages
3,258
You can add 15% for air conditioning.
There was a nice T-code for sale on Ebay a few months ago. I don`t think he got the BIN of $10,000.00 did he?
 

Mustanglvr

Well-known member
Joined
Dec 4, 2004
Messages
3,258
T Code Bob said:
I'm looking to increase the value on my insurance policy for my GT/CS. I've had it at $7500 since I bought it in '97 (which may have been overvalued then). Since then, I've redone the engine, chasis, and interior. Also the GT/CS seems to have appreciated over that time. I've seen a lot of GT/CS lsited on e-Bay in the mid-20s. The problem is, they're all V8s. Since there were only 80 T codes, it's hard to set a value based on watching the market. With $3+ gas, are T codes worth more than V8s now?

Let me know what you think.

According to my Marti report there were 148 T-code GT/CS`s.
But thats out of 4118, 251 of the 4118 were HCS`s. Anybody got a clue as to how many of the 148 T-codes were HCS`s? Were the 80 GT/CS`s T-codeBob is talking about all GT/CS`s?
 

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PNewitt

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Mustanglvr said:
Anybody got a clue as to how many of the 148 T-codes were HCS`s? Were the 80 GT/CS`s T-codeBob is talking about all GT/CS`s?

I can't divulge exact numbers yet, but about 3-5% were T-code GT/CSs, and less than 3% (of 251) were T-code HCSs.

As far as value, I'd consider what it would cost to replace your (or any other GT/CS). There are less than you might think, and finding one exactly like your own is very, very slim. So, the replacement cost should somehow include research time to find another one.

Since these are collectible cars, and not daily drivers (usually), the price of gas wouldn't have too much impact. The hard truth is that on the collector car market, the six cylinder doesn;t quite have the draw that the V-8s do. But--the personal and sentimental value would remain unchanged. If you want performance, one might consider a supercharger or turbo as a bolt-on, webers, etc...

Paul N.
 

CALIF GIRL

Well-known member
Joined
Oct 10, 2004
Messages
643
I was extremly happy that I had went to collector car insurance last year. If I had not the insurance company would of totaled out the car from the fire. As it was I was wondering if I was a little under insured with a declared value of 25,000.
 

Mustanglvr

Well-known member
Joined
Dec 4, 2004
Messages
3,258
Who did the appraisal to decide how much to insure your car in the first place? My ins. co. will only insure mine right now for the same amount as a 68 coupe. I can`t find anyone that knows anything about these cars and their rarity, in my area, to get a decent appraisal.
 

Mosesatm

Well-known member
Joined
Jan 18, 2005
Messages
9,011
Rhonda, they must insure it for what it would cost to replace it. I challenge them to find someone willing to sell a GT/CS like yours (Highland Green, 289, and a 4-speed) for under $15,000.
 

Mustanglvr

Well-known member
Joined
Dec 4, 2004
Messages
3,258
They said I needed to get a written appraisal by a car dealer or someone knowledgable with credentials. I contacted the head of our local car club and he knew nothing about it and gave me the run around after he said he would look into it. I told him to look on this site for information.
 

390cs68rcode

Well-known member
Joined
Dec 29, 2004
Messages
2,864
Location
Houston Texas
Mustanglvr said:
They said I needed to get a written appraisal by a car dealer or someone knowledgable with credentials. I contacted the head of our local car club and he knew nothing about it and gave me the run around after he said he would look into it. I told him to look on this site for information.

why not use a collector car insurance? I use Grundy and have never had to provide anything other than my word on value. You have to have a garage and another car as your daily driver.
 

Mustanglvr

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Dec 4, 2004
Messages
3,258
390cs68rcode said:
why not use a collector car insurance? I use Grundy and have never had to provide anything other than my word on value. You have to have a garage and another car as your daily driver.

Would they do the appraisal? Or would they make me get one like my current insurer?
 

Mosesatm

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Joined
Jan 18, 2005
Messages
9,011
Jason, does Grundy limit the number of miles you can drive the car?
 

390cs68rcode

Well-known member
Joined
Dec 29, 2004
Messages
2,864
Location
Houston Texas
Grundy just asked what my cars are worth. I told them an amount and they insured them for that.

Grundy does not limit mileage. Main things is that you have to have a garage and a daily driver.
 

case12

Well-known member
Joined
Oct 8, 2004
Messages
1,450
Location
Crystal Lake, IL
About 3 months ago I increased the coverage on my GT/CS (nothing special - just one of many C codes) with Haggerty. They said they could up it to $35,000, no appraisals....just did it over the phone. Casey
 

rvrtrash

Well-known member
Joined
Apr 25, 2003
Messages
3,649
My J code is with Haggerty at $35,000 as well. I don't think I could get another one restored to the level mine is for that amount, but figured that's about all I could get (at best) if I sold it.

Steve
 

Mosesatm

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Joined
Jan 18, 2005
Messages
9,011
Mosesatm said:
Jason, does Grundy limit the number of miles you can drive the car?

Sorry; total brain freeze. I have my car insurance with Grundy! I was thinking about Haggerty for the mileage question because I think they limit the miles one can drive.

Grundy doesn't allow the car to be driven to work, to school, or for everyday errands (grocery store, doctor, etc).

Attached are the forms they require be filled out and returned to them. Plus they require photographs of the car.

Since I drive my car to work from time to time I dropped them and went with my regular carrier.

Hope this helps
 
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Mustanglvr

Well-known member
Joined
Dec 4, 2004
Messages
3,258
My car is garaged now for the winter and comp is only $9.00 a year. Though, its only insured for $5,000.00. Otherwise I use it for a daily driver, errands, doctors visits, the lake etc..
 

BroadwayBlue

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Joined
Apr 26, 2005
Messages
2,900
Location
Hudson Valley Area, NY
390cs68rcode said:
Grundy just asked what my cars are worth. I told them an amount and they insured them for that.

Grundy does not limit mileage. Main things is that you have to have a garage and a daily driver.

Same thing with Haggerty. I raised it this year from $13,000 to 25,000 no questions asked. Initially you send them a few pictures and that's it.

There has been some debate on mileage limits with Haggery on the Vintage Mustang Forums but I have no limits and a number of other people on the Vintage Forums have the same. We're not sure if Haggerty has different policy types.

You can't use it as a daily driver and you have to have another car as a daily driver and keep it garaged as Jason said.

In NY, with Historic plates you're not supposed to drive your car for errands or as a commuter either. Club events, shows, and occasional pleasure drives is how it is stated - or something to that effect.
 
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