Rust will be hidden everywhere on these and you can spend way more fixing that you can ever expect to recover.
I think that's a given on any automobile restoration project, unless we're talking about the 'big leagues,' where Barrett Jackson, Mecum, the terms "concourse," "Boss 351," and "MCA Thoroughbred Gold" are used. These things are not investments or money-makers without first having established credentials and/or lots of money up front to work with. And even then, our cars are not exactly 'big-ticket items,' all things considered.
I know if I sold my car today, I wouldn't get anything close to what I have into it - maybe not even half... but that's never been my goal, either.
You need to get a picture of the sticker on the drivers door that gives all the information for what model the car is. It could have started life with a 6 cylinder. I myself would stay away from a L code 6 cylinder or F code 302. You want a Q code if you can find one.
As with any major project, a plan should be established beginning with defining the purpose and intended outcome/goal. If a guy's looking for a high-dollar flipper, I'm pretty sure this isn't the car to start with. If having a cool '71-'73 Mustang to work on and drive as a pleasure vehicle is the goal, then I'd have to say just the opposite can be true. If he's wanting a stock example, then sure - hold out for an M, Q, or J code (if he's wanting a big block). But if he's wanting a car to make his own (i.e., Restomod), then there's nothing wrong with picking up a 'lesser' car and going his own direction.
"Restomod" means many different things to many people. I consider mine to be a 'Day Two Restomod,' because I employed cosmetic mods that are period correct for what would've happened to the car after the owner got it home, but it has also some modern non-cosmetic/performance things thrown into the mix.
There are also no rules when it comes to restomods, either - he can go as mild or wild as he likes. Regardless, it'll still be cool because another Clydesdale will be saved. ::thumb::
I see Chicago as your location so anything that has been there has the salt treatment. If the car had Ziebart that helps but does not stop the rust. The cowl below the windshield is an area that rusts no matter where the car is from. Rain water and water from washing goes in and the raw steel loves it. So be sure to look under the dash and pull the carpet up. Yes they make lots of the parts but some are still not available. Better to pay more up front for a solid body than to try to rebuild a rust bucket. If the car has been there for 10 years there is a reason might not be more than a parts car.
His having done body work will go a long way toward correcting any areas of rust or decay... as well as getting rid of previous cosmetic blunders (glitter paint - yeesh :shootself: ). I think he's probably in a whole lot better place to start out than I was when I started in on mine.
Just like any investment go in with eyes wide open and all the information you can get. Never take the owners word for what is there see it for yourself.
As always, sound advice. ::thumb::
I have seven 72 & 73 mustangs so I know them pretty good.
The only thing that was on a Mach 1 that you could not get on other models was the Words Mach 1, Mach 1 sports interior option, and the plastic insert in the carpet that only Mach 1 got. Mach 1 was just a name not a performance package as many believe. You had to add all the good stuff which could be had on any model.
Ummm - yes and no. Don't forget the '05' in the VIN designates whether a car is a Mach 1 or not - period. That, unfortunately, has a lot to say when it comes to actual value of the vehicle... just like "Boss 351" carries so much weight. Obviously, if there's a coupe or 'vert with '05' in the VIN you should run away immediately because something shady has happened in that car's past. :shootself:
I just hope we're not scaring him off with all the back & forth. Let's see what he comes up with - he'll know more about what's doable within the scope of his skills, time, budget, and patience than we do, after all.
I can't wait. It's always exciting to see a new project take off.