Found a 68 Mustang.....salvage title...thoughts?

[Chris_Hamilton]

As the title says I found a 1968 Mustang. Fastback V8 car. Had an engine fire and it was totaled. Was a pretty clean car before the fire. Only seen pictures of it, haven't been able to see it in person yet but it looks very solid. My thinking is this would make a good base for a resto-mod project down the road. Being it is a salvage title I would have to go through DMV to get it cleared. Not really a big deal but would the car having salvage history hurt it's resale value?
To be clear I am talking after it would be completely restored/modded. Wondering if it would scare off bidders at an Auction. As for the car, I am thinking Coyote motor, Tremec 6 speed or an Auto, modern suspension,etc. Keep it nearly stock looking on the outside or maybe do the Shelby conversion on the exterior. Something tasteful. Lots of the ones I've seen on BJ and Mecum are not very tasteful IMO.
Are they worth putting the time and money into? What can you realistically expect to get for one done right?

 

[JC Daniel]

I am no pro on the subject, but I know that a salvage title will hurt the resale of a vehicle. I have a friend who had a dealership and he said it was hard for him to move a salvaged vehicle, that being said I have saw salvaged vehicles sale right near the value of one that has no salvage title. It is going to depend on the person viewing and paying the bid amount. There is a local guy who buys salvaged trucks and cars and makes a good profit fixing and reselling them.

 

[Dave C 5]

I’m working on a 68 fastback now . I’ve been following the market and it’s going up ! Clone cars are bringing good money as are restomods . I’ve read up on the coyote swap and understand it to be quite expensive . I’m impressed with the amount of money a standard V8 mustang restomod brings - the LS swap in a GM restomod seems to be “mandatory “ but not so much in the mustang . Full modern suspension/brakes/ rear end will run you around 13 grand give or take and that seems to be the most expensive part . The sheet metal for mustangs is very reasonable . My thoughts are with the mustang market on the rise it will be hard NOT to turn a decent profit

 

[Dean Jenkins]

Sounds like a cool project I hope it works out for you.
Salvage title wouldn't bother me a bit.
I think serious classic car buyers are more interested in the quality of the work done than the condition before the restoration.
Very few true "survivors" left and they probably wouldn't get resto-mod.

A really thorough photo/video documentary of the process would go a long way at sale time.

 

[Chris_Hamilton]

I am no pro on the subject, but I know that a salvage title will hurt the resale of a vehicle. I have a friend who had a dealership and he said it was hard for him to move a salvaged vehicle, that being said I have saw salvaged vehicles sale right near the value of one that has no salvage title. It is going to depend on the person viewing and paying the bid amount. There is a local guy who buys salvaged trucks and cars and makes a good profit fixing and reselling them.

This is kinda different though than typical used car rebuilder stuff. This would be a documented rotisserie type restoration/modification on a car with salvage history. And a burn is different than a heavy collision salvage, at least in my mind it is. IMO it's no different and probably better than starting with a rusty hulk. At least that would be how I would view it. Others may view it differently. That is what I'm hesitant about. But with rusty hulks bringing $15k or more this car is a steal. If I was going to keep it, it would be a no brainer, but this would be something I would do to make money.

@Dave C 5, the Coyote swap would be surprisingly affordable IMO. Several places offer a package deal of the motor, ECM. harness,Tremec 6 speed transmission and a steel bellhousing for around $17K.

 

[Dean Jenkins]

Coyote swap would be surprisingly affordable IMO. Several places offer a package deal of the motor, ECM. harness,Tremec 6 speed transmission and a steel bellhousing for around $17K.

I looked at LS connect and cruise motor/trans packages.
Ended up going with Silver Sport Transmission for my Tremec 6 speed.
They are a working shop in addition to parts suppliers and have been doing trans upgrades for years.
The details can make these swaps easy or a nightmare.
They know what is needed and what works and put together a package for the vehicle/engine combo.
Price was fair and support top notch.

 

[ksungela]

I have a 69 mach 1 I'll restomod some day. I just love the fastback body style only 2nd to a C2 corvette coupe, but it does offer more interior room. I paid $10K for it and it ran and drove but sold off the motor. I've researched the components and suspension and stuff which would cost me about the same as when I restomod a Corvette, but may not sell for nearl as much, . There are some outliers on auction prices like always, but it's always a gamble. Restomoded cars with salvage titles are becoming more accepted. To cover yourself, I would well document the build with clear and detailed pics to show the buyer you did things right.

The coyote motor is WIDE, so you'll likely want to eliminate the shock towers and got with a Detroit Speed type setup.

A restomoded but stock looking 68 would get into 6 figures sale price, but Eleanors is where the big money is at IMO.
There's a company in Cali that builds licensed tribute Eleanors, I think about 1/month, and gets $300k+. Here are some other Eleanor sales at auctions.

1967 FORD MUSTANG ELEANOR TRIBUTE EDITION - Barrett-Jackson Auction Company - World's Greatest Collector Car Auctions

Sold* at Scottsdale 2022 - Lot #1087 1967 FORD MUSTANG ELEANOR TRIBUTE EDITION

barrett-jackson.com

1967 FORD MUSTANG ELEANOR TRIBUTE EDITION FASTBACK - Barrett-Jackson Auction Company - World's Greatest Collector Car Auctions

Sold* at Scottsdale 2022 - Lot #1112 1967 FORD MUSTANG ELEANOR TRIBUTE EDITION FASTBACK

barrett-jackson.com

1968 FORD MUSTANG ELEANOR TRIBUTE EDITION - Barrett-Jackson Auction Company - World's Greatest Collector Car Auctions

Sold* at Scottsdale 2022 - Lot #1308 1968 FORD MUSTANG ELEANOR TRIBUTE EDITION

barrett-jackson.com

1967 FORD MUSTANG ELEANOR TRIBUTE EDITION - Barrett-Jackson Auction Company - World's Greatest Collector Car Auctions

Sold* at Scottsdale 2022 - Lot #1337 1967 FORD MUSTANG ELEANOR TRIBUTE EDITION

barrett-jackson.com

BUSTER POSEY'S 1967 FORD MUSTANG ELEANOR TRIBUTE EDITION - Barrett-Jackson Auction Company - World's Greatest Collector Car Auctions

Sold* at Scottsdale 2022 - Lot #1377 BUSTER POSEY'S 1967 FORD MUSTANG ELEANOR TRIBUTE EDITION

barrett-jackson.com

Don't get too excited about these prices because the cars were built by companies that have been building cars for years and have a reputation and therefore usually get a higher price. That goes a long way in giving bidders piece of mind they're not buying a turd.

This car was parked down the aisle from my 65 last March. Real nice car, with posters of pictures surrounding the car. The owner sat by the car for 3 days straight. Not your Eleanor builds, so not as far over the top, but not as much $$ to build either.

1967 FORD MUSTANG CUSTOM FASTBACK - Barrett-Jackson Auction Company - World's Greatest Collector Car Auctions

Sold* at Scottsdale - March 2021 - Lot #1437 1967 FORD MUSTANG CUSTOM FASTBACK

barrett-jackson.com

Take 20% off these prices listed, and that's what you get a check for in the end.

We on the forum know you know your stuff, but again, document, document, document so buyers know you know what you are doing. Fit and finish have to be perfect, no cut corners.

I've gone down and am stuck in the restomod rabbit hole. Be careful, you might get sucked in. Shoot back any questions and I'll share my honest experiences.

 

[Chris_Hamilton]

Thank you Ken. Appreciate your advice as I know you are one of the guys doing this and being successful at it. I'll be asking you some questions at some point. Thanks. One thing BJ is taking 20% of the sale price? Wow.

Here are some pics of the car in question,

 

[ksungela]

Sorry. post deleted.

 

[Chris_Hamilton]

Sorry. post deleted.

No need for that Ken. I was saying that lightheartedly. Car will being what it will bring.

 

[Dave C 5]

@Dave C 5, the Coyote swap would be surprisingly affordable IMO. Several places offer a package deal of the motor, ECM. harness,Tremec 6 speed transmission and a steel bellhousing for around $17K.

$17k …… that sounds expensive to me (compared to a LS swap), guess it’s all how you look at it.

 

[dhutton01]

Here’s another Ford swap option. I think it might fit between shock towers but not sure since they were removed for Detroit Speed suspension.

Don

 

[Chris_Hamilton]

$17k …… that sounds expensive to me (compared to a LS swap), guess it’s all how you look at it.

An LS3 crate engine and transmission package is the same or more from my research.

Chevrolet Performance CPSLS3T56: LS3 376ci 6.2L Connect & Cruise Powertrain System 430 HP - JEGS

Get the Best Performance with Chevrolet Performance LS3 376ci 6.2L Connect & Cruise Powertrain System 430 HP CPSLS3T56 parts at JEGS. Shop Now at the Guaranteed Lowest Price!

www.jegs.com

You could get used stuff cheaper but I don't think that's what folks want if you are building something to like this to resale.

 

[MP&C]

I think if you have good photo/video documentation of what went into the build, it would be less of an issue and should not effect price that much. Is there an inspection process whereby the DMV would re-issue a regular title or does the salvage stay with it forever?

 

[JC Daniel]

That is a nice car Chris, if it is a deal I would jump on it.

 

[Slofut]

I think if you have good photo/video documentation of what went into the build, it would be less of an issue and should not effect price that much. Is there an inspection process whereby the DMV would re-issue a regular title or does the salvage stay with it forever?

Ga DMV will give a rebuilt title for a salvage car that has been repaired to their standards, (doesn't mean much, I've seen some). I've seen quite a few salvage title show cars go through BJ and it didn't seem to affect the price at all. I can't imagine it would. I'd be all over that mustang.

 

[Chris_Hamilton]

I think if you have good photo/video documentation of what went into the build, it would be less of an issue and should not effect price that much. Is there an inspection process whereby the DMV would re-issue a regular title or does the salvage stay with it forever?

In Virginia its branded. Meaning you have to get it inspected and then issued a regular title. In the old days there was nothing anywhere on the Title stating it had been salvage. Now in Va the Titles are all branded "Rebuilt".

 

[texasking]

The VIN tag didn't get damaged in the fire, did it? They are delicate on those cars, and would present a problem, I assume. How much is spent on LS and Coyote motors to make them aesthetically pleasing, at that level?

 

[Raymond_B]

As far as drivetrain swaps go Coyotes can be had for a decent deal if you watch some of the wrecking yards or places that sell pull-outs. Wrecked 5.0 F-150's and new Mustangs are a dime a dozen

 

['68 Coronet R/T]

My thought on it is this, I have a birthday coming up pretty soon and since your so busy with paying work . . .