For AS long as I can remember, I've always been the one selling my hot rods at bargain-basement prices. I've either needed out of them, as was the case when I began college, or just wanted something different. My need/urge to part ways with my ride has usually led to selling the car cheaper than what I purchased it for.
As the years pass, I've watched my father make good deal after good deal simply because he had the money in hand and/or was willing to wait for his price. I sold my first Mustang and got out from under the payments, and I walked away with enough money to pay for my first semester of college, which I thought worked out perfectly. I can recall several other cars that I let go really cheap, though, and I've generally never had the money in hand to go looking for good deals.
We think we did alright with...
We think we did alright with our project car find. Tell us what you think. Send your thoughts to steve.baur@sourceinterlink.com.
I have, however, been lucky enough to come across two bargains in my 18 years of automobile ownership, and both of them happened to find me with relatively full pockets-obviously, funding was a key ingredient in sealing the deal.
My first score was a '67 Mustang fastback that I still own. I had been on the hunt for one for some time. Then the Gone In 60 Seconds remake came out, and suddenly the $2,500 cars that I could not afford became $5,000 rolling hulks of rust.
I stopped looking only to have a truck driver who had dropped off a fiberglass hood for one of our project cars tell me that he was selling a '67 Mustang for $1,500-$2,000. I purchased the Pony for $1,800. It's a 289 GTA Mustang that belonged to the guy's mother, who had purchased it new.
Luckily for me, my previous job had just involuntarily cashed me out of my profit-sharing plan a month prior and sent me a sizeable check with which I made my first good deal. Chalk one up on my empty side of the scoreboard.
Fast forward four years and I still have the GTA, though it sits in anticipation of its restoration and now holds the record for the longest period of ownership of any car I have ever owned.
About six months ago, my friend George Xenos phoned me and asked if I would be interested in buying his '93 Cobra. The '93 Cobra is one of my all-time favorites, so I asked how much, and he responded with, "$5,000." I asked him to give me a few days to make some calls, and then asked why he needed to part with his pride and joy. It turned out he was wanting to make a down-payment on a house and needed the money quick.
I had joked with George for a long time about trading my '67 for his Cobra, but it never went further than that. After hanging up the phone, I sat dumbfounded and expected him to call back at any point to rescind his offer. I called my financial planner-i.e., my wife-and explained the situation.
 Once the previous owner had...  Once the previous owner had dismantled the drivetrain and suspension, the Pony rested on a custom dolly built from 4x4 timbers and some industrial grade castors. |  Not much here, but we have...  Not much here, but we have plenty of ideas to fill this space. So far, a naturally aspirated stroker sounds really good. Maybe we'll even disguise it as the stock motor. |  Several engine-bay harnesses...  Several engine-bay harnesses have been lengthened and stashed out of sight inside the fenderwell. |