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To Rotisserie or not to Rotisserie
#1
Bear with me the question comes at the end) I have been restoring a 71 H Code Mach 1, 351C, 2V, FMX transmission and it’s all matching numbers per the marti report. I have completely redone and made new the engine and engine compartment, transmission, front suspension (all new), new exhaust (all new), rear suspension (all new), entire interior (all new) and all new windows with molding (not installed yet). On the body I have all new Magnum 500's, new front grill, new lights front and rear and I have completely rewired the car with a painless wiring harness.

Here comes the question, I purchased the car for $5,000 and I have $20,000 in it for a total of $25,000. It has rust issues, so need new inner venders, floor pans and rear wheel housing, new front fenders and rear quarters. I have been quoted from Mustang Central in central Georgia who is very reputable and happens to be 5 miles from my house that it would cost another $15,000 to rotisserie the car to be brand new and put a very nice paint job on it and reassemble.

This means I would have $40K in it, but it would be a full off frame restored and replaced with all new parts inside and out. I realize I'm upside down, but can anybody tell me I far upside down I would be if I chunked $15,000 more into the car for a grand total of $40,000. Keep in mind the rust issues and it does need paint.

Taking all advice Smile
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#2
That's a question only you can really answer. If you intend to keep the car forever. Go for it! If your going to sell it and do a Barette Jackson, You'de have to.

[Image: 2rr7aiv.png]

Just cruising along minding our own business when BAM!!! The LAWS show up.
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#3
Unfortunately the market says you are probably in too deep already. Unless it is a Boss, HO, or 429 (and often times even if it is) the economics of a concourse restoration don't work. These cars generally get restored because people love them, not because it makes sense financially.

73 conv. 460, D0VE large valve heads, Performer RPM manifold, Voodoo 227/233 cam, Holley 950 HP carb, C6 trans, 3.25 trak-loc.
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#4
It's your car and all about what you want to invest in the car. If it makes you happy and you intend to keep the car then do it. Personally I think that number is low for sheet metal replacement and a quality paint finish.
Just my. 02$ worth.
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#5
You could buy the tools and equipment used on craigslist and have enough cash left over to attempt it yourself 2 times over.

More fun, you will learn a skill, and there are plenty of local people who would love to help you.

Even if it did not turn out 100% perfect it will still be more meaningful to you. Unless you are all thumbs I would bet money that it will turn out OK.

My 15 year old son is doing most of the work on our latest Mustang and it is turning out better than OK. Not perfect but as good or better than what I have seen others pay a "real shop" to do.

He even went back and redid some of his first plug welds once he got better at them.

We bought a 250.00 used Mig, a 500.00 used plasma cutter, some basic air tools and he got a 250 piece craftsman tool set for his birthday. We borrow or buy anything more special as we need it. Our last QL score was a bead blaster cabinet and a pot type sand blaster for 50.00 each.

This might be an option to keep you close to what the car will ever be worth while having some fun.

Or like a friend of mine said - "I could spend 40K on a new car that will be worth nothing in 10 years or I can spend 40K restoring a 20K car and in 10 years it will be worth 20K. My money better spent."

- Paul
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#6
parforever;105346 Wrote:Bear with me the question comes at the end) I have been restoring a 71 H Code Mach 1, 351C, 2V, FMX transmission and it’s all matching numbers per the marti report. I have completely redone and made new the engine and engine compartment, transmission, front suspension (all new), new exhaust (all new), rear suspension (all new), entire interior (all new) and all new windows with molding (not installed yet). On the body I have all new Magnum 500's, new front grill, new lights front and rear and I have completely rewired the car with a painless wiring harness.

Here comes the question, I purchased the car for $5,000 and I have $20,000 in it for a total of $25,000. It has rust issues, so need new inner venders, floor pans and rear wheel housing, new front fenders and rear quarters. I have been quoted from Mustang Central in central Georgia who is very reputable and happens to be 5 miles from my house that it would cost another $15,000 to rotisserie the car to be brand new and put a very nice paint job on it and reassemble.

This means I would have $40K in it, but it would be a full off frame restored and replaced with all new parts inside and out. I realize I'm upside down, but can anybody tell me I far upside down I would be if I chunked $15,000 more into the car for a grand total of $40,000. Keep in mind the rust issues and it does need paint.

Taking all advice Smile

aww like the poster said above...You could spend 40grand on a new car that loses money all day...a frame up on that car...If turns out very nice...could be worth up too 30,000 too 35,000 if perfict and afraid to drive trailer queen..But atleast the mustang won't lose value like a new car...Sounds like too me...You just like the car and want it perfict and nice...I dont blame you one bit...Plus she would bring a troophy or 2 at the local car show if done up right and correct...These cars are rare at car shows.....If you plan to enjoy the car...I say go for it!! Wink
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#7
If your going to keep the car and you can afford it,I say go for it. I don't think in the long run you would regret it.
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