If you have the time and money it takes to successfully restore a used Mustang, you can save significantly on your initial investment with a project car. Project cars are cheaper than daily drivers and show cars because they generally require significant body or engine work. You have to invest your own time and money to get them up to par. Always remember that trade off. I’ve seen more than my fair share of enthusiastic buyers purchase a project car, only to have it sit in their driveway for several years before they give up and sell it to someone else. Project cars can be cheap, but they require work and additional money. Also, any seasoned Mustang restorer knows that taking on another person's half-completed project car can be big trouble. Always evaluate the amount of work you're getting yourself into.
The five action items for purchasing a show car include:
- Before you look, decide how much of your time you’re willing to invest in restoring the vehicle
- Determine if the vehicle will need parts that are difficult to find or expensive in price
- Be wary of salvage titles, and be prepared for extra legwork at the DMV if you purchase a salvaged title vehicle
- Examine the vehicle’s title to determine if its parts and VIN numbers match up
- Research the vehicle to make sure you are paying a fair market price
- Stick to your spending budget
How to Buy a Used Mustang
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