Should I get this pony? (2002 GT)
 

Hello pips,

I need some advice/convincing :P Coming from Europe as a kid I always admired Mustang cars in american movies, and since moving to Canada I was hoping I could get to own one. Unfortunately wife requested a responsible family far...

Time passed by and now I need a second car, just for me drive to work for 6min each way.

I came across this 2002 Mustang GT Coupe with 128k on it. Nice little beauty and has never seen a winter. Had it inspected and overall being told all is very sound, no rust, just few minor fixes required though:

2 wipers
brake oil
antifreeze
air filter
oil pan gasket
2 bushing rear control arms
2 camber plates
new winter tires

Seller won't budge on the price and wants 5.5k. I didn't expect to go for a Mustang when originally looking for a 'low budget' car but man, do I seriously want one, loosing sleep over it!. Would you guys say it's worth the price even with these fixes to do? How much should I expect them to cost me get done?

I'm told that it's a good price for the car which will hold it's value over the next few years. I don't know about reliability of those cars though.

Appreciate any of your comments!

Got pics?

will do if I buy it :P ;)

It looks solid on the outside though, all stock except for exhaust has been upgraded.

Gonna guess the new winter tires are because you're going to be driving it year round, the first few items (wipers, brake fluid ,antifreeze, oill change and air filter) are all pretty average maintenance items. More concerning would be the oil pan gasket, rear control arm bushings and camber plates. I'm no mechanic, but with only 128,000 km on it, I'd be wondering why these need replacement. If the seller doesn't want to budge on price, move on, there's a million Mustangs out there, one of them is going to fit into your budget and lifestyle, best of luck dude, and welcome. PS -cars never hold their value, it's always a losing proposition money wise, and reliability can be influenced a lot by what kind of routine maintenance was performed. Never seeing a winter works in your favour, take a close look underneath to make sure you're not being scammed.

Thanks for your answer. I'm being told these repairs are not expensive (oil pan gasket, rear control arm bushings and camber plates) but I don't know how common or expected they are on a Mustang of that milage. Most Mustang GT's here I've sen go for around 6.6k+, so for 5.5k I guess these repairs are expected?

The mechanic I took the car to for inspection said he was quite impressed with overall condition of the car and lack of rust underneath.

Doesn't sound too bad to me. Oil pan gasket may be an expensive repair as there is quite a bit of labor involved. Instead of replacing control arm bushings I would go go with some nice aftermarket control arms. The caster plates would be needed for a wheel alignment. If the car drives straight and the tires don't have any irregular wear then they wouldn't be necessary. As far as brake fluid and coolant these services probably aren't urgent and can be done down the road.

The mechanic that inspected the car said following I should get done ASAP, rest is not urgent:

2 wipers
brake oil
antifreeze
air filter
2 camber plates
new winter tires

Camber plates need to be done now because of wear on the tires.

I really like this car and I am being told by the mechanic that overall it's in a very good condition. I think I'll just get it and hope for the best :P haha

I feel it's my only chance for a while to get a V8 Mustang GT, might be moving back to europe in 3 years time.

:)

Doesn't sound too bad overall, but am concern about the oil pan gasket, this repair will cost you a bit too. The rear control arm bushings seem odd, but could be dry rotted i guess. Probably better off to upgrade those for the cost while being there.

The mechanic said the oil pan gasket was 'sweating' but not leaking and didn't need immediate attention. For the future, how much are we talking about for such fix? does 'a bit' mean 500$, 1000$? 3000$?

Should have asked the mechanic while you were there, anything we say is nothing better than a guess.