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Author
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Topic: Need suggestion ASAP
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BlacksheepMod50
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Member # 2378
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posted
 
 
Ok, sorry for the indicated urgency on this one guys, but a financial situation has come up along with some new information regarding a 5.0 I own and I need suggestions here.
A little background: I bought a 91' 5.0 that is def. a project car. Carpet needs to be replaced as it has stains on it, and the most of the interior needs a good cleaning/scrubbing. The exterior has been re-painted black which is chipping in a lot of areas due to a cheap re-paint and bad prep work. The front and rear bumpers have have chunks missing in a couple of areas because they're fiberglass and the last owner hit a couple things while backing up or pulling forward (like a curb).
I knew this was going to be a lot of work, but I am into projects and have been learning to paint/do body work so I figured this is a great car to work on, knowing I would eventually make it next to brand new looking all the way around. I was going to fix it up, drive it for a year, sell it, and make almost all my money back. I just found out the other day its a salvage. With that knowledge now I realize there is no way I will make my money back and when adding in the time this project would take - its not worth my effort. I need suggestions what to do.
The car RUNS fine. Its missing a transmission right now, but I just rebuilt a t-5 to go into it. So: perfectly running engine, rebuilt t-5 with brand new 2nd and 5th gears, but a salvaged body that needs lots of visual work. What should I do? How can I make the most money? Sell the body as a rolling chasis and sell the engine/tranny seperate? I need to cut my losses on this project asap because I did not plan on KEEPING the vehicle. If I planned on keeping it, I think this would be a great car, however with intentions on re-selling it down the line I know I'll end up upside down. Any suggestions as to what I should do?
I need to know by Monday morning as there are some decisions I need to make that hinge on what I do with this vehcile..
THanks everyone for your help. Sorry for the long post, but I know details might help get better suggestions. ![[patriot]](graemlins/patriot.gif)
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98 4.6, stroked to 5.0, all forged, 11:1 comp, cams, LTs, Tubular K-member & A-Arms, Coilovers, Saleen rims, 99+ mani., ported F150 heads. And more..
Posts: 288 | From: Fair Oaks (Sacramento) | Registered: Jan 2003
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94gt
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Member # 3060
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posted
sounds like you got taken trying to make a quick buck.
its hard to sell a salvage titled car. good luck.
you can part it out too.
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2020 Explorer ST
2011 Silver Raptor 'Screw
Posts: 5777 | From: Beavercreek, OH | Registered: Jul 2003
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stangless
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Member # 1414
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posted
clean it as much as you can and try to sell it complete. why does it have a savage tittle?
Lets see.. if you sell it as a roller, you might get 500 for it. another 300-400 for the engine and 250 for tranny. so by parting it out you might make 1k. i'm sure you can get someone out there to buy the car for over 1k as it sits.
Good luck
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=(
Posts: 4634 | From: bay | Registered: Jun 2002
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CDT
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Member # 5004
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I dont think you can spend the time, effort and money on a Mustang to make it look brand new and get even close to your money back salvaged or not. Rule of thumb is that a salvaged car is worth at most half of normal value. Mustangs total very easy due to the low book value. So there might not be any real damage to the car, but since your not the one that owned it when it was salvaged it will be hard to know. Basically a Mustang that needs a paint job would be totalled to most insurance companies. If your looking for a car to fix up and drive then it is fine, but if your looking to make money your probably going about it the wrong way.
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Custom Dyno Tuning
510.331.0608
Home of Flat Fee Tuning For All Cars, Trucks and SUV's, EFI & Carb, SCT, AFR, Dynatech, STS Turbos, N2O Refills
Posts: 1053 | From: Hayward | Registered: Nov 2004
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BlacksheepMod50
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Member # 2378
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posted
Like I said, I was planning on driving it for 1 year and selling it for about 5 (a little optomositic i know..). I know there are extremely clean 5.0s going for 5 and some even a little higher. My intention was to put the new rebuilt tranny in, re-do all the body and give it a new paint job, new carpet, new seats, tune up and I'd still get out of there without spending more than 5K. I do my own paint and body so there is minimal cost on that, minus supplies and my own time. The salvage part is where the complications come in and I just realized that it was salvaged this weekend (bought it off of a "friend"... that was never mentioned to my knowledge.) If I could make 1500 off of it, I'd be happy and call it a day and cut my loses. Whatever is the best way to do this is the method I will take.
Do rebuilt trannys really only go for 250 dollars? Even with 2 new gears? Usually rebuilds do not include new gears, just new bearings, syncros and misc hardware, so this is more than a rebuild. *shrug*
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98 4.6, stroked to 5.0, all forged, 11:1 comp, cams, LTs, Tubular K-member & A-Arms, Coilovers, Saleen rims, 99+ mani., ported F150 heads. And more..
Posts: 288 | From: Fair Oaks (Sacramento) | Registered: Jan 2003
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88DroptopGT
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Member # 2535
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posted
Just part everything out and try to sell it as a roller.
If you can't sell the roller, part the body out as much as you can then send it to the junkyard. They give you like $35 for the metal anyway.
Posts: 3978 | From: 707 | Registered: Mar 2003
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getjobdone
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Member # 4666
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posted
is this the one on CL that was asking $3k? with black ponies, black headlight covers, and lx tails?
i had a feeling there was something fishy about that one...
i say sell it as a whole, cut your losses, learn from your mistake and move on. good luck
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91 notch ^ blown h/c/i
Posts: 677 | From: east bay,ca | Registered: Jul 2004
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