Rough Estimate on a clean 69 fastback

[TexasEd 188]

I working on a deal to buy my old mustang back from my brother and need to make sure we are making a fair deal. Its been in our family since 1985 and my dad was the second owner. It was the first car I drove in high school and though it was not titled in my name it was "my" car. My dad sold it to my brother about 6 years ago, I couldn't afford it because I just got married and bought a new house. Now I can afford it.

 

Details:

1969 Fastback, red

302 2V - replacement block

C4 transmission

dealer installed AC

power steering

original aluminum wheel covers

maroon interior, original am/fm radio

no major rust

steering is very loose and makes the car somewhat dangerous to drive

suspension is shot, could be the shocks but I would probably put a new suspension in

Last painted in 1991

 

 

If this deal goes through I'm sure I'll be a regular here as I clean her up.

[TexasEd 188]

I working on a deal to buy my old mustang back from my brother and need to make sure we are making a fair deal. Its been in our family since 1985 and my dad was the second owner. It was the first car I drove in high school and though it was not titled in my name it was "my" car. My dad sold it to my brother about 6 years ago, I couldn't afford it because I just got married and bought a new house. Now I can afford it.

 

Details:

1969 Fastback, red

302 2V - replacement block

C4 transmission

dealer installed AC

power steering

original aluminum wheel covers

maroon interior, original am/fm radio

no major rust

steering is very loose and makes the car somewhat dangerous to drive

suspension is shot, could be the shocks but I would probably put a new suspension in

Last painted in 1991

 

 

If this deal goes through I'm sure I'll be a regular here as I clean her up.

[Pakrat 1,043]

This is really a difficult question for anyone but you and your brother to determine. New it likely sold for under 3K so by 85' I'd be surprised if your dad paid much more than that for it. It sounds like your brother has done nothing with it over the last 6 years so if you guys are on good terms I'd think he'd be willing to let you have it for what he paid your dad + anything else he might have into it.m Since it's rust free and complete but not all original and really operable as is market price could fetch anywhere between maybe 10-15k if the right buyer is looking for such a car so somewhere between that and what he paid could be an equitable split for bith sides.

[Pakrat 1,043]

This is really a difficult question for anyone but you and your brother to determine. New it likely sold for under 3K so by 85' I'd be surprised if your dad paid much more than that for it. It sounds like your brother has done nothing with it over the last 6 years so if you guys are on good terms I'd think he'd be willing to let you have it for what he paid your dad + anything else he might have into it.m Since it's rust free and complete but not all original and really operable as is market price could fetch anywhere between maybe 10-15k if the right buyer is looking for such a car so somewhere between that and what he paid could be an equitable split for bith sides.

[TexasEd 188]

It sounds like your brother has done nothing with it over the last 6 years so if you guys are on good terms I'd think he'd be willing to let you have it for what he paid your dad + anything else he might have into it.

 

Thanks, this is what we are discussing. We have agreed on a number but I want to make sure I don't rip him off. Based on what you said I don't think so.

 

I remember being 16 and wondering why my dad swapped the block on the rebuild instead of getting the original block rebuilt. What would the difference be to have the original block?

 

Everything is pretty much in original condition though the dash and I think the seat covers were replaced in the 80s.

 

I'm a little torn on modifying it. I could do a restoration to make it look like it just came off the showroom, but since it was not a limited production configuration and is not 100% original I'm thinking of doing some safety/performance upgrades like replacing the suspension and adding disc brakes.

 

Repainting it the standard candy apple red may also lose out to a darker metallic candy apple color at some point.

[TexasEd 188]

It sounds like your brother has done nothing with it over the last 6 years so if you guys are on good terms I'd think he'd be willing to let you have it for what he paid your dad + anything else he might have into it.

 

Thanks, this is what we are discussing. We have agreed on a number but I want to make sure I don't rip him off. Based on what you said I don't think so.

 

I remember being 16 and wondering why my dad swapped the block on the rebuild instead of getting the original block rebuilt. What would the difference be to have the original block?

 

Everything is pretty much in original condition though the dash and I think the seat covers were replaced in the 80s.

 

I'm a little torn on modifying it. I could do a restoration to make it look like it just came off the showroom, but since it was not a limited production configuration and is not 100% original I'm thinking of doing some safety/performance upgrades like replacing the suspension and adding disc brakes.

 

Repainting it the standard candy apple red may also lose out to a darker metallic candy apple color at some point.

[LoneWolf2U 136]

To keep things fair for both sides involved and no family fighting,

Price should be what the purchase price was plus any improvements.

And if you add 5% on top of that total for interest,which is more than he could have made if that money was in a saving account for the final price of the cars transaction cost.

[LoneWolf2U 136]

To keep things fair for both sides involved and no family fighting,

Price should be what the purchase price was plus any improvements.

And if you add 5% on top of that total for interest,which is more than he could have made if that money was in a saving account for the final price of the cars transaction cost.

[jagsfan811 10]

i agree with mach1rider

[jagsfan811 10]

i agree with mach1rider

[TexasEd 188]

He suggested I pay him $1K more than he paid my dad for it. I think that is probably fair.

[TexasEd 188]

He suggested I pay him $1K more than he paid my dad for it. I think that is probably fair.

[Cornerstone 15]

If i was to give a "rough estimate" on the value of this car, I would say 6500. I base that on a couple things,

1. I bought one a year ago, almost opted the same with the non original drivetrain in boxes, for 3700.

2. Theres a 70 fastback on Craigslist in Denton Tx. from a dealer (meaning slightly high on the price) that seems to be in a bit rougher condition for 7900.

 

But the others points are what really matters, keep peace in the family and make sure your bro is happy with the transaction.... then NEVER sell it back to him!!!

[Cornerstone 15]

If i was to give a "rough estimate" on the value of this car, I would say 6500. I base that on a couple things,

1. I bought one a year ago, almost opted the same with the non original drivetrain in boxes, for 3700.

2. Theres a 70 fastback on Craigslist in Denton Tx. from a dealer (meaning slightly high on the price) that seems to be in a bit rougher condition for 7900.

 

But the others points are what really matters, keep peace in the family and make sure your bro is happy with the transaction.... then NEVER sell it back to him!!!

[foothilltom 33]

Your brother sounds like a fair, honest, nice guy. $1K over what he paid is a smoking good deal for you. Above all else, family first. If the deal gets sideways, walk away from it and never think of it again. There are many cars out there for you.

 

My sage advice. Cough. Ahem.

[foothilltom 33]

Your brother sounds like a fair, honest, nice guy. $1K over what he paid is a smoking good deal for you. Above all else, family first. If the deal gets sideways, walk away from it and never think of it again. There are many cars out there for you.

 

My sage advice. Cough. Ahem.

[CandyAppleRed 10]

 

the dash and I think the seat covers were replaced in the 80s.

 

 

Really, what does the dash think about the current gas prices??? :biggrin:

[CandyAppleRed 10]

 

the dash and I think the seat covers were replaced in the 80s.

 

 

Really, what does the dash think about the current gas prices??? :biggrin:

[TexasEd 188]

Really, what does the dash think about the current gas prices??? :biggrin:

 

I should have said dash pad, but other than that I don't get the joke. :confused1:

[TexasEd 188]

Really, what does the dash think about the current gas prices??? :biggrin:

 

I should have said dash pad, but other than that I don't get the joke. :confused1:

[TexasEd 188]

Thanks, guys.

 

It won't actually be a cash transaction, I have an investment he wants to buy/ I want to sell so it will be a swap with cash to make up the difference in the additional fair market value of the investment. The negotiation was him saying what he wanted and me reminding him of the investment he wanted and both agreeing that is how we'll do it.

 

He said it is a relief to be selling it because he doesn't have the time or money to restore it and it sits under a car cover in his driveway. I have a garage bay I'm cleaning out for it now.

 

Its hard to contain my excitement at getting the exact car I drove in high school back over 20 years later. I might have to post one of those old high school pictures when I get them scanned.

 

I'm in the Austin area and will be excited to meet other classic Mustang enthusiasts in the area as this progresses.

[TexasEd 188]

Thanks, guys.

 

It won't actually be a cash transaction, I have an investment he wants to buy/ I want to sell so it will be a swap with cash to make up the difference in the additional fair market value of the investment. The negotiation was him saying what he wanted and me reminding him of the investment he wanted and both agreeing that is how we'll do it.

 

He said it is a relief to be selling it because he doesn't have the time or money to restore it and it sits under a car cover in his driveway. I have a garage bay I'm cleaning out for it now.

 

Its hard to contain my excitement at getting the exact car I drove in high school back over 20 years later. I might have to post one of those old high school pictures when I get them scanned.

 

I'm in the Austin area and will be excited to meet other classic Mustang enthusiasts in the area as this progresses.

[CandyAppleRed 10]

Sorry, it struck me as funny that you said "though the dash and I think the seat covers were replaced", as though you had a conversion with your dash.

[CandyAppleRed 10]

Sorry, it struck me as funny that you said "though the dash and I think the seat covers were replaced", as though you had a conversion with your dash.

[Mustang-Boss-302 10]

Sorry, it struck me as funny that you said "though the dash and I think the seat covers were replaced", as though you had a conversion with your dash.