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How much do you pay for a Classic Car?

1970-cougar Eliminator Convertible

As a classic and muscle car fan, I am often surprised to see the wide range of prices that these cars are being offered for. Around the corner from my house, in a make-shift used car lot, there lies a 1967 Mercury Cougar for sale.  My wife mentioned it to me about 2 weeks ago.  The next day we drove by at a distance and noticed that the car seemed to be in good condition with nice paint and older 80s style custom wheels. We each took a guess at the price.

I thought the asking price for the hard top cougar would be in the $5K - $6K price range. my wife thought it would be a lot higher, her thoughts, without getting a good look, is $15K. As my curiosity got the best of me, I decided to stop by on my way home to get a good look at it.  A big for sale sign was inside the windshield, the price? $11,500!!!!

Obvious, the price of any used car depends on the condition and how desireable the car may be, but how can one make and model vary so much?

I took a look on E-bay today and decided to review older 60s Mustangs. Several hard top and coupes can be found, in good condition for under $10,000. While Fastbacks and convertibles, some with bigger engines or more options can be several thousands higher.

This Red 65 Mustang GT fastback pictured above has an asking price of over $31,000.  Is it worth it? will it go up in value? Chances are the answer is yes, but can you replicate one like it for less?

As for the Cougar near my home, it’s anyone’s guess how much it is worth, but chances are someone will buy it. 

This 1971 Cougar, pictured above, is for sale on e-bay. Asking price, $18000.  What would you pay and why?

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