Step One. Make sure that your finances are in order, Most good Mustangs do not last Long In todays Market. You need to be ready when you find that "Deal".
Step Two. Search E-Bay for Completed Items for the car of your Choice. Make sure the cars you search have the options that you want. That will give you an idea of the current Market price.Options and Restoration completed are the things that make a Mustang a "Deal" or "No Deal". Pay attention to where the car is located, Cars from a Dry climate have a better chance of not having major Rust. Be aware of ad's that say a car has no rust. Some sellers meen that it has no rust now, Make sure you ask them if it has any "repaired" rust. It is not that uncommon for a mustang to have rust showing in the trunk or under the floors. They were not finished completely in these areas. Surface Rust formed right away. Don't be scared of that kind of rust if the car is from a dry climate. That rust can be treated and stopped with Rust converters. This can be done yourself or by any Body shop with this kind of experience.
Step Three. Create a favorite search in your "My E-Bay" Page. Don't be in a hurry there is always another car around the corner. The next one may be a better deal. Buy the best car you can afford. Restoration costs are expensive. No matter how good you are you will always under estimate true costs. Try to buy a car close to you "first" then spread out your search to a wider area. But be aware of shipping costs, they can range from a couple hundred to a couple thousand, depending on the shipper and how they carry. If your going to buy from a seller that you don't know, check the feedback. It tells a lot about the person. Make sure you get a lot of picture's. Don't buy what is in your mind. Buy the car the is represented. Ask a lot of questions of the seller. Ask if it is OK to have someone inspect the car for you. There are company and individuals in every city that will do this for a fee. It is cheap money for an extra piece of mind.Finally don't expect a new car. Most of the early Mustangs have problems, they had them from Ford. To expect that they don't have them now is unrealistic. These cars are great fun and a very good investment. but make sure you have a tool box and a lot of patience. You will be fine and enjoy the experience if you have the right frame of mind going into this purchase. There is nothing like the feeling driving one. You get attention wherever you go. And remember if you bought new car it goes down in value the minute you drive it off the lot. With a Classic Mustang they have been going up in value for the last 42 Years.
Have Fun and Good Luck
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