At a crossroads, which vehicle?

Fast69Mach

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So here's what's going on right now. Currently I have a 2012 GT, and I want to lower my payments so I'm looking for another car to drive, and sell the 12'. I found a pretty nice 98' GT, bright atlantic blue with 65k miles for $8000 that I was almost certain I was going to buy. I also have a 69' Mach 1 that I've been working on for a long time, that I recently finished a bunch of work on and it is now fairly close to being driveable. I put together a quick parts list of things I need, and the 69' is actually really far ahead cost-wise compared to the 98'. I know myself, and the 98' would not be fast enough, handle well enough, and many other things that I would end up spending money on, while the 69' is again ahead in all of those areas. I'm thinking that driving the 69' is the best plan for right now, but it will not be 100% finished, while the 98' is actually a very nice car.

So here's my question: What would you do?
Drive the 69' as a working project, without any emissions and cheap registration.
Or: Buy the 98' and drive it, knowing that the more money you dump into it, the more money you are wasting due to the value of the vehicle, not to mention a higher initial cost to purchase.

I'm pretty sure I've already made up my mind to build the 69', but I'd like to hear some opinions. The only cons I can see to this is that some of the parts would take a couple weeks to come in, which is no big deal. Also I would have to really focus on finishing up some stuff on the car, like finishing the engine bay, welding in the new floor pans and trunk floors, and reinforcing the frame in certain areas. Realistically, it's a month or two of work. Anyways, thoughts?

More info on both cars -

98' GT, BAB 5-speed 65k miles and bone-stock.
69' Mach 1, 4.6 DOHC w/ sullivan and carb, comp 106500's, LTs. Art Morrison rear suspension, AJE front, hydroboost, 03' cobra steering rack, cobra brakes, coil overs, back-halved w/ custom reinforced frame rails, floor support and torque boxes, etc etc etc.
 

Riddla

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Buy a beater for a fraction of the cost of the 98.
Use money to dump it in to the 69
 

R.D.P.

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That better be one nice 98 GT for 8k. You should be able to get a 96-98 Cobra for that money and obviously it will hold value better. Sounds like your not interested in a 4cyl generic for a daily driver, nothing wrong with that - just get an older Cobra at least if your going to spend 8k.
 

AZSN95SNAKE

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Do NOT spend $8k on an SN95 GT! That would not be wise at all. You can have a nice one for much cheaper. I'd get a 94/95 5.0 over a non pi if it were my choice.
 

Fast69Mach

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It is definitely the nicest 98' GT I've ever seen, one owner, all stock never raced and garaged all it's life. Of course I just happen to have an 01' cobra motor, IRS, exhaust, true forged wheels, and a ton of extra parts I could throw on it the same weekend I picked it up, but you all are right, it's still just a SN95 GT in the end. As far as picking up a beater goes, I'm not really interested in doing that right now and I only drive about 10 miles a day, so it's not really a concern of mine. If my commute gets any longer, then I'll pick up a beater.

I think I'm going to go order some stuff for the 69' now, and hopefully have it up and running by June-July.
 

CobraBob

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If you sell your '12 GT you're going to need a DD. You surely won't DD your '69 Mach. So you'll need a reliable DD. Can you make do with a beater DD? Especially if you have a short commute. Just bear in mind that a rough beater surely isn't going to provide you the comfort you have in the '12 GT. And it may be prone to repairs, most of which you can probably tackle. How much do you owe on the '12? Maybe consider looking for a great deal on a decent fuel efficient car in the $5K-$6K range.
 

coposrv

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I have seen some pretty clean and efficient DD cars for 4-5 k that won't require much more than oil changes to maintain. I would put the rest into the 69. Going from a 12 GT to a beat down cheap pos will suck. Make sure it is something comfortable and not so cheap you're always working on it.
 

straightliner1

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$4K cash on a cheap commuter, save the rest for important things. Of course, don't deny yourself the satisfaction of tinkering on the 69, but it sounds like money is tight? Keep this in mind - don't buy another car you'll sink money into.
 

Zerohe

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Do NOT spend $8k on an SN95 GT! That would not be wise at all. You can have a nice one for much cheaper. I'd get a 94/95 5.0 over a non pi if it were my choice.

Why did i get on AutoTrader to check the market price of Older SN95s today and the Cobras they have, people are asking termninator money for them. routinely. All of them Red and slow. I was just looking into it as another daily. Not for 17K.
 

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