I am in need some good, objective advice. I am looking at buying a 1987 formula, 305 TPI, 5 speed. I went and took it for a test drive the other day, the drivetrain is really quite solid, and the engine strong. The four disk brakes were really strong, and no shaking...mostly everything works, but the oil gauge is screwed i think, and the radiator is leaking antifreeze...the car wasn't blowing hardly any hot air at all...and what kind worries me is that when i checked the antifreeze, it only filled half of the tanks on the radiator!!! And i checked the oil after, and it was down way lower than it should of been. the car has about 95,000 miles on it, a torn drivers seat, and the cruise doesn't work...i am just wondering if i should bother to get the car, and really be getting a piece of ****...my dad went with me, he has been a certified mechanic for like some 25 years, so he knows what he is doing, and he says i will just be buying a piece of ****, it could have cracks in the engine due to the low oil and antifreeze levels and who knows what else is wrong with it...but I really do want the car, i mean, who doesn't? but i don't wanna go fixing a whole bunch of stuff either. I would really appreciate any responses, another guy is going to look at the car today so i guess i will have to make up my mind soon, but thanx to everyone who replies ahead of time...and keep those cars a'truckin!

 

It all depends on the price and your needs. If its like say $500 I'd go for it. Or if you already have a daily driver this could be a great project car assuming the body is in good shape. But from what I've heard with the coolant levels and especially the oil level, I'd be really careful. Who tries to sell a car without at least making sure the oil level is good? is that a pic of the car? It looks more like a Trans Am than a Formula to me.

 

here is the clincher...since i live in canada the price will seem EXTREMELY weird, but in us dollars i would guess 3800 dollars american! i think he is willing to move but...

 

it is a formula, the guy who had it before him put on the wheels and ground effects

 

It sounds like a pretty typical car for being 16 years old.

You're not going to find a car like these of that age where every single little creature-comfort and gewgaw like cruise control is perfectly functional, and there's no wear and tear, and so on. That's fantasy land. They're just cars, after all, and they need maintenance over time, which they often don't get, and these particular ones are often subject to what most people would consider driver abuse (not that any of use would ever actually time the car's capability for maximum accleration from a standing start over a measured distance!!).

The car you are describing sounds actually like a fairly decent one. Things like the radiator are cheap and easy to replace, and should nt be considered as a reason to avoid an otherwise suitable car. A radiator for one of these is around $120 and takes less than an hour to replace. Big deal. Same for the oil pressure gauge: about 95% of the time, the problem with that is the sending unit; $18 and 5 minutes later, it's back working right again. Again, not a reason to avoid a car. These almost always need valve cover gaskets, and valve guide seals; those 2 things are responsible for about 80% of the oil consumption in one of them in almost every case. Less than $20 of parts for both.

If you want one of these cars, you'll be fixing stuff, guaranteed. It's not that the cars are crap, it's that they are old and typically used hard.

I'd say if the car you are looking at is less than $2500 with a good sound body, no wrecks or rust, it's probably a good deal, and none of the mechanical things you spoke of are at all significant. If I were to buy it, I would make a punch list, buy the parts, and probably repair or replace nearly all of them in one weekend.

 

that is pretty much what i thought too, and i know these cars are generally used and abused, but like you said, it is not that bad. I like my stuff in good condition, and if i do buy it, i will do exactly that. and as far as a punch list, i have already made one...just waiting for the car. thanx for your reply RB83L69, it helped a lot....and by the way, nice phrase you got there at the bottom "So many Mustangs, so little time..."

 

Good luck on your purchase, The problems you described dont sound that bad, if there was something major wrong with the engine or transmission you probably would have noticed.The miles arent really that high and the picture of it looks great. You'll enjoy working on it And that will make you respect what you have more. Id say go for it

 

First off, I want to thank you all for replying. I got some really good ideas from all of you. I am sad to report that the guy wants a crazy amount for it, and although like a bunch of you said, these engines are pretty bullet proof (small block chevy...what more can you say? ), I will have to spend about 1000 bucks getting it working good...and he at this point isn't willing to go down any...I think he will learn quickly when no one wants it...mind you there are always suckers who will go for it. Plus I was going to trade my Ford Probe for it, it is a 93 in mind condition, and he told me he was gonna give me 2000 bucks less than I could easily sell it for, so i basically told him to keep the car. But thanx again, and if everyone doesn't mind, I will stay on the message board, I think it a valuable source of info and comardrie ship...but enough bs, talk to ya'll later!

 

i went through a similar situation when i bought my ta.i looked it over and gave him a reasonable offer which was turned down, so i let the car sit on the dealers lot for a couple months and came back, he dropped the price a considerable amount. if you really want this particular car, my advice is wait around a little while and that dude might come around, if not you will come across one of these cars for a good deal sometime, they are out there you just have to be lucky enough to catch one.

 

its a pretty nice looking car, i'd buy it if the body was in really good shape no stress cracks above the windows or anything, he needs to come down on the price though, thats too much i'd say about 2000-2500 american

 

Do you have a shop you can take it to? If you do, pay the money to have them do some test to see if the engine has cracks. It will be worth it in the long run. If the owner of the car has problems with you doing that, then I would say he knows something he does not want you to find out. Either way you will get your answer on whether or not you should buy the car.

 

why would the Canadian price sound "extremely weird"? lol