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Ford Mustang, Classic Cars, Coupe
#1 of 71 1965 Mustang Value
Mar 12, 2007 (10:13 pm)
Hey out there. I need a little help. I purchased a 1965 Mustang, 289 V8 automatic w/ps & pb. New paint job w/4-5 chips, new wheels, 290K on motor (however not sure right now if orginal motor) I don't have possession of it but paid TOP dollar for it on a USED car lot. 12.5K to be exact. And in doing my research a little late I discovered that I just may have paid TOO much and am quite upset about it. I also discovered that the right blinker doesn't operator and the there were no speakers for the radio (they said sounded great)... After 3 days of dinking around with these clowns at the dealership the day I THOUGHT I was bringing it home to my son saw white smoke coming out the tail pipe. Which they said was the distributor was misfiring. Others have said blown head gasket and/or carborator problems.. Anyways, I traded my 68 and only received 4k for mine! And you know what mine ran better after all the crap these guys put me through. At this time they still have the car. My pink was signed over to them but I have mine! Anyways, what do you think I could do? What is a fair price? For BOTH really. Knowing this is a 40 yr. old car doesn't the #'s matter for price as well? What can I do to get out of the contract if I can't make them bring the price down to a FAIR and REASONABLE cost. Please help. Thanks Cindi.
#2 of 71 Re: 1965 Mustang Value [cv3162]
by MrShift@Edmunds HOST
Mar 13, 2007 (5:17 am)
It's hard to value a car without looking at it but offhand yes you may have paid too much by $4,000 more or less.
This is really an issue for an attorney. I'm not one, but my opinion is that the only way you can break this contract is that if you can prove some kind of misrepresentation or fraud....otherwise "buyer beware" is the rule.
A dealer can sell a car for whatever price he wants, as long as he doesn't misrepresent the merchandise as something it is not. If he/she TOLD you it was the original engine and it wasn't, or told you it was completely rebuilt last week and it wasn't, then you have something. But if they just said "nice car" and "runs like a top" that isn't misrepresentation, that's just "puffery" as they say---salesmanship.
So my opinion is that you can't build a case just because the price was above market value. That was your job to know that. But you can build a case (perhaps) on misrepresentation.
Of course, lawyers are expensive so you may wish to first visit your local District Attorney's office and see what they can offer you in terms of Consumer Protection Services of some sort. You may also consider Small Claims Court, but that often limits the amount of damage you can sue for, and I doubt it will be as high as the price of the car.
Best thing to do is not panic, and get all your facts straight. If you accuse them of selling you a car with a bad head gasket and all it is, is a bad spark plug, then you're not going to look credible.
At the very worst, you can stick with the car and fix it up. Prices are going up on these and maybe in a few years it will be worth what you paid for it.
#3 of 71 Re: 1965 Mustang Value [Mr_Shiftright]
Mar 13, 2007 (5:29 am)
Thanks a lot for the reply. I am going to consider all avenues. I really don't think it's fair to take advantage of people like this. I really thought I could bring them down in price but they wouldn't budge. Then before you know it I'm signing the papers. How about the 68? What would be fair trade price for that one? Certainly not 4k. In this rip off of a case, 6k to them? Anyways, off to work. Thanks again for your advice and reply. Cindi.
#4 of 71 Re: 1965 Mustang Value [cv3162]
Mar 13, 2007 (6:22 am)
A dealer has to almost always be the worst place to get a classic like this. They typically have little or no knowledge of the car, it's history or actual condition.
Did you mean you traded a 68 Mustang? I would have kept it. I've owned both a 65 2+2 and a 69 Mach 1. In 65 a Mustang was basically (in most cases) a glorified Falcon. By 68 they were really starting to come into their own.
Good luck getting satisfaction. You signed a contract and signed over your trade. I don't know what the laws are in the state you live in, but in most it's a legal and binding contract when signed. You may have a case if it was mis-represented, but you're probably going to need legal help to sort it all out.
#5 of 71 Back in 2000...
Mar 13, 2007 (6:34 am)
one of my friends bought a 1966 Charger from some place down in Florida. It had a non-original 318 (the later wedge, not the earlier "wideblock" poly), and was advertised as "turn key". Well, it should have been "turn key at your own risk". I think he paid something like $8500 for it. And, well, it looked good in the pictures and the video they sent him!
So, he had it delivered up here to Maryland, and it ran for about a week. I never even got to see the thing. It died, and my buddy took it to his mechanic, who went over it, and found that it basically needed a whole new engine. It had been run without antifreeze, and the cooling passages were all rusted/gunked up. It was springing leaks here and there. Needed a new radiator. Had sheetmetal rivited where the floorboards had been, and not too well, either. For a car that supposedly needed "nothing", I think this car ended up needing, in addition to a new engine and floorboards, about $3,000 in other odds and ends.
My friend did manage to get them to take the car back, but it was a fight in doing so. It made the local newspapers around here, as well. In this case though, I think the puffery and "salesmanship" was borderline gross misrepresentation, so my buddy probably had a fairly good case.
Oh, and at the same time as he bought the Charger, he also bought a 1973 or so Benz 450SL from them. I think it actually arrived before the Charger. It was in much better shape than the Charger, but then started having problems, and he unloaded it a couple years later for something like $7K, less than half of what he paid for it.
#6 of 71 Re: 1965 Mustang Value [burdawg]
Mar 14, 2007 (3:17 am)
Most definitely true. The owner of the business didn't know whether or not the car had matching numbers or if the engine had been rebuilt or not. I can't believe what happened tonight but for the 3-4 time in attempt to take possession of the car the car stalled and the blinkers still didn't work. The brake lights didn't work, the stereo went off at the touch of the brake and the most amusing was when I wanted to see whether or not the right blinker worked the left blinker on the dash lite up. In the end, the owner of the company is giving me full reimbursement and my 68 back. This has been a huge nightmare for me. My son took it like a man. I know I knew what I was talking about and didn't exactly have buyers remorse at all, I just wanted a fair market value for the purchase. I am taking the next few days off to unwind about this. And definitely next time I will do my research before hand. The odd thing is I was explaining to the dealer he shouldn't chg. full exc. condition prices for a classic car, I explainned too that dealers do not typical care to have classic cars on their lots because they do not profit from having them restored. It just takes someone who is passionate for making them beauties again and it takes pride in ownership as well ~ which the owner of this lot did not take pride in anything except trying to screw this women over. I raked him and questioned him and still couldn't get him to bring his cost down to a fair and reasonable price. In the end, I just caved and decided if anyone wanted something that bad they would pay the higher mark up. They have no remorse for screwing over people because they profit from it. I just surprised him and the rest of the employees there... I'm just glad it is over.
#7 of 71 Re: Back in 2000... [andre1969]
Mar 14, 2007 (3:21 am)
FORTUNATELY, see other response with same regard, today was victory. The car on it's second test drive died and all electrical was still not functioning. The owner was in such disbelief and decided it was not meant to be and said he would reimburse all my money and give me back my 68. Please see the other response I made ~ it actually became humorious for a few seconds.... LOL. Take care. Cindi.
#8 of 71 Re: 1965 Mustang Value [cv3162]
Mar 14, 2007 (5:56 am)
Good to hear that you got this resolved without any more trouble than that.
Sales for classic Mustangs, just like many other makes, are rampant with fraud. A previous neighbor of mine bought what he thought was a 68 California Special, but I pointed out to him that the VIN was wrong and it was a regular model that had been modified. That happens a lot.
You need to do your homework before jumping in to something like this. A car club is a good place to start, or even a car show. Here in Southern California there's huge Ford car shows every year and there's always hundreds of Mustangs, many for sale. Also, there's all the advice you would ever need.
Even though I'm not into Mustangs anymore, my brother in law has a 64.5 first edition and he usually drags me along to a couple of shows a year.
#9 of 71 Re: Back in 2000... [cv3162]
by MrShift@Edmunds HOST
Mar 14, 2007 (7:39 am)
You are REALLY lucky to get out of this. The dealer probably could have stonewalled you for months...but maybe because the car misbehaved so badly he saw the handwriting on the wall.
Had the car been running well and was just "overpriced", I doubt this happy ending would have occurred.
Okay, next time let's do our homework!
One thing you have to remember about '65 Mustangs, or the "early" Mustangs, is that so many of them have been all screwed up by previous owners---most of the coupes fell into the hands of people who paid little for them and thus could not take care of them---so over the years, they were passed hand to hand with one botch after another to the mechanicals. Very often the convertibles and fastbacks led a much happier life with appreciative owners, while the poor coupes ended up as junkyard dogs chained to a post.
Some Typical Early Mustang Issues:
1. Rust in the rear clip...the trunks rust out.
2. Stretched timing chains...engine runs but is weak and sucks gas.
3. Bad ball joints
IMO, with an old Mustang, it's always better to buy one with a tight clean body and a few mechanical issues (they are so simple to fix) than any old coupe with questionable cosmetics....rust, bondo, etc., even if it runs well.
#10 of 71 Re: 1965 Mustang Value [cv3162]
Apr 05, 2007 (7:35 pm)
You own a 65 Mustang 289 V8. Who can say what it's value is and if you paid too much. Don't know where you live, but chances are you are pretty close to a Mustang Club. You can start to locate such a club by going to www.mustang.org and they will refer you to your nearest club.
Having owned a 66 Stang for over 40 years, one of the first things I recommend is you install a Pertronix Ignition in the distributor. It is the best thing I ever did to my Stang and my 302 Sea Ray. Each one of mine cost $59.95 and it took only a few minutes to install.
Recommend you also subscribe to "Mustang Monthly" as it is worth the price for the knowledge you'll receive. "Mustang Times" is a publication of Mustang Club of America. Join that organization too, just for the magazine.
The above site will get you EBAY's sight for 66's, but you can modify that for the 65 when you get there.
Cared for Vintage Mustangs are increasing in value all the time. I turned down 25k for mine last Summer.