I’m not sure what to do with this car.

I recently acquired a 2005 4.0L V6 convertible for free from a guy because the engine was shot. It needs some cosmetic repairs too. I was planning on putting a used 4.0 and over time upgrade. Could you guys suggest if I should keep it and repair or scrap it? Thanks.

https://imgur.com/a/p3ikkhj

If it was a coupe, I would say it was good for body and interior parts, but it's not so just give it back or scrap it.

I suggest you part it out. You could make some decent money that way. If the soft top is in good condition, it should sell pretty quickly, and the body parts would be useful for anyone who needs them to repair accident damage.
Don't spend money repairing and upgrading the car. It'll drain your wallet very quickly and you'll soon regret it.

Another vote f/ parts car...

Dino Dino Bambino said:

I suggest you part it out. You could make some decent money that way. If the soft top is in good condition, it should sell pretty quickly, and the body parts would be useful for anyone who needs them to repair accident damage.
Don't spend money repairing and upgrading the car. It'll drain your wallet very quickly and you'll soon regret it.

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To getting it running, all I need to do is replace the engine. Junkyard quoted me $900. I always wanted a convertible. I wanted to use this as a daily driver. Should I still part it out or replace the engine and drive?

Manual or auto ?? Either way, if the tranny is also semi trashed.... u are into a deep money pit.
I would have it hauled off to the scrap yard at that point. Or sell it as is.

From the pics, I didn’t notice any of the cosmetic damages you alluded to.

I don’t know why everyone is so quick to get rid of it. There must be some reason.

Swap the motor, get rid of that stupid car bra and either drive it or sell it for a profit.

Pentalab said:

Manual or auto ?? Either way, if the tranny is also semi trashed.... u are into a deep money pit.
I would have it hauled off to the scrap yard at that point. Or sell it as is.

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It's an Auto but I can swap the transmission for $500. So with engine and transmission, it would cost me $1500.

crjackson2134 said:

From the pics, I didn’t notice any of the cosmetic damages you alluded to.

I don’t know why everyone is so quick to get rid of it. There must be some reason.

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The cosmetic is just the Driver side fender has been replaced, has a ding, and needs to be painted. The car hasn't been washed and had a whole lot of junk inside. Minior trim finsihes, etc.

skwerl said:

Swap the motor, get rid of that stupid car bra and either drive it or sell it for a profit.

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Should I also replace the Auto trans to manual? It would cost me $1500 for a manual trans and engine. Or do I need other parts for the swap? Thanks.

Legend Lime is a pretty rare color. Easy and cheap to put a replacement engine in it and use it as a daily driver.

From the monetary side, I say don't swap the tranny to manual. But the fun side says a convertible should be a stick car. Just my opinion from being a convertible owner for 42 years. Mine is a '70 in the same color. It was the first running car I purchased at the age of 15. I still have it. Mine went way off track from being a daily driver. High compression, manual valve body in the auto, high stall TC, too much gear. I say do a junkyard engine and drive it until you're tired of the V6 and make the foolish mistake of doing a coyote swap. And then sell it before you actually start that project. Should sell for a nice profit.

Leave it automatic , shop around for a used engine (OFFERUP) I just rebuilt my 07 coupe entire powertrain for just over 500 , these cars are easy to repair, and you got i free so currently you're at zero invested dollars , put at least 2000 in it and your still well below the price of a used car lot for a daily driver.

If you're near Dallas TX, I could help out with it , and if its not a project worth it to you , you could ship it to me always wanted the lime green just to stand out. I'd even pay hauling fee as long as I could get the same purchase price.

Asif C said:

I recently acquired a 2005 4.0L V6 convertible for free from a guy because the engine was shot. It needs some cosmetic repairs too. I was planning on putting a used 4.0 and over time upgrade. Could you guys suggest if I should keep it and repair or scrap it? Thanks.

https://imgur.com/a/p3ikkhj

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It doesn’t look all that bad, I would just put a used engine in it throw out that bra clean it and either daily drive or sell.I am a convertible guy and it would be kinda nice to have a convertible I wouldn’t have to be so anal over and just drive it everywhere.

Agree with the others that are saying put a used engine in it and drive it. You can't find a better convertible than an S197 without going to the German brands and a bunch more money and bizarre electrical issues.

The value of used cars including S197’s has shot up over the last two years. If you love mustangs, throw an engine in there.

Asif C said:

The cosmetic is just the Driver side fender has been replaced, has a ding, and needs to be painted. The car hasn't been washed and had a whole lot of junk inside. Minor trim finishes, etc.

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If you can do most of the work yourself to make the car look presentable, it might be worth saving.

Asif C said:

It's an Auto but I can swap the transmission for $500. So with engine and transmission, it would cost me $1500.

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Not bad. If you can find a decent tranny and engine for that price, you'll at least have a running driving vehicle for not much over $2k and the car would be worth more than that.
The only problem for you is that summer's over so you wouldn't have many opportunities to drive it with the top down over the next six months unless you live in a warm temperate climate.
The best time to sell the car would be around April/May when demand for convertibles is highest as people buy them to enjoy in the summer.

JimC said:

Legend Lime is a pretty rare color. Easy and cheap to put a replacement engine in it and use it as a daily driver.

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Thanks. I plane to use it as a daily driver for sure. It would definitely be cheaper than driving my truck everyday to work.