1968 GT/CS Value Question

[kevinb]

This post may look familiar to some, because I posted a similar one last year. Here is my situation, I have a friend that is selling a GT/CS for $7,000 and I’m seriously contemplating buying it and she really wants to sell it. She wants to sell it to someone who will fix it up. However, given the current state of the economy my wife is has serious reservation. I would like to know roughly what the car is worth if I should need to sell it. It is important to note that I would probably put 2,000 immediately into the car (paint and some interior). I’m not looking for warranties; I’m just looking for a rough value of the car given the details below.

Car details:
It has a Marti Report but is not on the registry. It is a basic 2V 289 car, 279:1 rear end, originally candy apple red, black interior, power steering, with front and rear drum brakes. The car has a running 289, but not sure if it is NMO. The car has a very straight body with not major dents. The car is 95% rust free (meaning I didn’t find any and the cowls are not rusted) and has been in Arizona its entire life. The car is currently painted green and has some cosmetic damage: “California” emblem missing on one side and one of the side spoilers is broken off (but in the car). The interior is clean, but the original has been replaced with crushed velvet.

Again, I’m just looking for a rough value and the price guide seemed a little out dated.

 

[Gregpet]

I don't want to speak as an expert but I can tell you about the car that we just bought. We paid $8500 for a car that sounds similar (running, no rust, needs paint, broke off scoop but with car!). My interior may be in a little better shape and the car is still painted its original lime gold. My car also has front disc brakes.

I fealt that I got a good deal although unless the car has been well maintained you may spend your $2000 just getting it road worthy. I'm getting the car out of the shop tomorrow and it cost me about $2500 (engine cleaning, rear springs/shocks, carb rebuild, misc power steer & transmission leaks, etc). I still need to get a set of wheels and tires before it can see any regular usage.

Just my 2 cents but it sounds like a solid deal...

Greg

 

[390cs68rcode]

buy one for $12-14k that is already somewhat nice. At 7k you will spend ALOT more than 12-14k total to make it decent and driveable.

TRUST ME

oh, and crushed velvet? add another $1000 minimum to fix that.

 

[franklinair]

$7K sounds good - IF - you can do a lot of the work in bringing it up to par, and - IF the basic car is sound (cowl, body, frame, engine). At $7K, (if I were in the market) I would buy it, providing the aforementioned areas are OK. But, I do 90% of all work myself. It's EASY to pump in $5K to $7K to make a nice driver (ask me how I know!), and that's doing most of the work myself. Judge yourself accordingly, and best of luck. Lots of help/advice here.

Neil Hoppe

 

[Mosesatm]

Someone changed red to green?!!!!!!!:thumb:

Donna, you out there? Did you see this????

 

[CALIF GIRL]

Someone changed red to green?!!!!!!!:thumb:

Donna, you out there? Did you see this????

my my that is backwards....

 

[DeadStang]

It is important to note that I would probably put 2,000 immediately into the car (paint and some interior).

$7K sounds like a decent price for what you're describing if you're able to do a lot of stuff yourself. But unless you do a low-level Maaco paint job, you are going to spend WAY more than that for paint and interior. IIRC, and interior kit runs around $500 alone, just for the vinyl stuff. You are still going to have to install everything (or pay someone to do it), and probably do some interior repainting and replacing crappy chrome knobs, bezels, etc. In addition to the exterior paint.

But as someone earlier pointed out, you are more likely to easily spend $2K getting in good, reliable driver condition. Unless someone has been using this on a daily or at least a weekly basis, lots of things go wrong with cars just sitting... For example, I am currently chasing down fairly minor issues with one of my cars. It's finally running and driving with a new gas tank, sender, and filter, but the next thing we discovered was master cylinder was bad. So I bought a new one, bench bled it, and flushed all of the lines (for a second time)...only to have the heater core blow. Bypassing that for the summer, but now I am chasing a brake light/turn signal issue that first was "just" the stop light switch. Replaced that, but for the one side now it looks like it's the turn signal switch. So I need to pull the steering wheel and replace the switch. And it goes on and on. Luckily the brakes were fairly fresh, or my wheel cylinders would've started leaking. And then there is the radiator that the bottom 1/2 solidifies over time...and the alternator that doesn't charge....or the solenoid that sticks intermittently...and the carburetor whose seals have rotted and need rebuilt.

Not to be a downer, but spending somewhere in the mid teens for a car that is in a little better shape is a lot easier proposition to start with, as long as you don't get burned on THAT car, of course!

 

[franklinair]

Do not be discouraged. What has been described sounds like a viable purchase. Not knowing your mechanical abilities, it's difficult to offer 100% accurate advice. 40 year old cars don't behave like one you drive off the showroom floor nowadays. They require a certain level of ongoing maintenance. GREAT if it's your hobby and if you enjoy working on cars. (I just completed a '68 convertible. A NICE car in driveable shape. 6 months & $6K later, it's done - with me doing all the work. And it did not need paint or body work.)
If you're not mechanically inclined, find a GOOD, DONE car - but expect to pay $17K and up for one. (And have a knowledgeable person check it out to verify.) Hope this helps.

Neil

 

[Midnight Special]

...Evaluate and adjust your status in the "economy" as well and keep talking with your wife. If her reservations persist, then ownership won't be as pleasurable as it should be...

 

[JohnnyQuest515]

I agree that $2500 is hardly enough to paint and fix the interior. Others detail to concours specs and some to just enough if you catch my drift. My budget on the interior which includes carpet, seat covers, new dash, bezels and misc. stuff wasn't enough at $700. Little things like turn signal pedestal, overhead light trim, door threshold trim adds up but man it looks so good! Whatever you want is out there, amazing.

Good luck, Randy

 

[nfrntau]

If you plan on doing the work yourself, put your numbers together and then double that. There WILL be lots of little things you never thought about that WILL add up.
Ask me how I know.

 

[robert campbell]

Tim is right on! Your spouse must be supportive! If your goal is immediate driving, the spend more up front. But some of us cannot afford that. So if you are in it for a couple years and can do some work, then the car you are looking at sounds great.

A supportive spouse is a must!! My wife is a gem!! But I have bought her a few! But gear slammin is one of her passions. Makes it easy for me!

Rob

 

[kevinb]

Thanks for all the info

I just wanted to say thank you to everyone that responded! Based on all the comments I decided I better get the car checked out by a friend who owns his own shop and is a ford guy. If he thinks the car is solid enough to be considered a daily driver than I will probably buy it. I have all the time in the world to sink money into it, but I can't afford spending a ton just to get it road worthy (it has been sitting for a long time and only driven occasionally). My buddy is going to look at it next Friday, so I will keep everyone posted. I have been in love with GT/CS cars since I first saw one in 1986, so I need to reign myself in and make a good purchase.

Kevin

 

[robert campbell]

I always get a second opinion!! I can get caught up with the "love" very easy and overlook some stuff if I am buying for myself!

I am much more demanding if someone else is spending their money.

Rob