2008 GT 5 speed "ELEANOR"- rebuild thread

[madrussian]

I figured I should just start the whole new thread about my rebuild, so here it goes. About a week ago I won 2008 mustang gt with 32000 miles from the auction in Huston Texas for about $8000, the vehicle is salvaged and hit in the front passenger side of the car. When I got car delivered to Minneapolis MN, we started to tear all of the broken stuff apart, ones we got to the frame it was obvious that front right side of the engine bay need to be replaced, kind of sucks but I was expecting it. Here are some pix when I got it:

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And about an hour later after we took some of the scrap off of it:

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After I spend the whole day on the phone trying to find upper and lower frame rails with apron and strut tower as one piece locally, I started nationwide search and so far didn’t find anything. If any of you guys know anyone who parting out a totaled car or works at the salvage yard please help me out, as I need this part asap and I cant do anything ales until I fix the engine bay.

 

[Hawgman]

Good luck man... Not trying to be debbie downer or anything, but I hope that $8k "winning" doesn't turn in to a $16k car with a salvage title that you can't sell for $8k when it is all put back together.

 

[Germeezy3]

I hope its a driver and not a " flip " typically salvage title vehicles even put right are worth about half of the book value...meaning around $8k-$10k.

 

[Blxcklist]

Wow, that thing is fucked up! With enough money though im sure it can look nice again.

 

[Steedman07]

You didnt "win"..A salvaged title is cancer to a car..Body kit or not, that car might be worth $7,000 when its all done..Should have done more research..Good luck though. Just plan on keeping it forever..

 

[Tre06GTP1SC]

You didnt "win"..A salvaged title is cancer to a car..Body kit or not, that car might be worth $7,000 when its all done..Should have done more research..Good luck though. Just plan on keeping it forever..

No kidding. I think the only party that "won" is the guy who pawned that off for $8000

 

[2SSARME]

$8k for that?

 

[Germeezy3]

I could understand if it was a numbered Shelby or Saleen....but a normal GT? When you fix it , it will probably be worth what you paid for it.

 

[SirKnightTG]

This probably would be a good deal for someone that's going to make a 100% track car where they were going to gut the thing down to each bolt anyway.

For a street car? No.

This is either a car to build into a race car or for parts IMO.

 

[Tre06GTP1SC]

This probably would be a good deal for someone that's going to make a 100% track car where they were going to gut the thing down to each bolt anyway.

For a street car? No.

This is either a car to build into a race car or for parts IMO.

Yep I agree. I would consider doing something like what the OP did for a track car.

 

[GrnBullitt08]

Wow...that car is really fucked up.

 

[Streetcrayon]

Wow...that car is really fucked up.

That's okay though, she has the spirit of an original Ford "Eleanor" running through her sheet metal!

She will come back. When she does, Mustang GTs will bask in all of her glory!

 

[Fallenauthority]

Wow.....

 

[06silverbullet]

looks like it had a blower on it from the looks of that silicone adapter

 

[BAKnBLK2010]

Selling that car for 8k was like hitting the lottery.

 

[G.T]

looks like it had a blower on it from the looks of that silicone adapter

could have been a steeda CAI too

 

[Alter Ego Trip]

I see why you're a Mad Russian now.

Seriously though, best of luck. I hope there isn't too much more damage when you dig into it. Strut towers and the like are not fun to replace.

I agree with everyone about gutting her for a track car.

 

[Ken04]

salvaged title cars are worth 75% of book, according to the banks that make loans on them. $8 grand plus some free labor, and a couple grand more in parts and the OP will have a nice car. The wheels are nice and it has some nice mods to the outside that I can see. So he'll maybe be in it $10-$12 thousand. Not a bad price for a great car. Depending on what area of the country maybe he can even make a few bucks, Mustangs go for fairly large coin out here. Even if he only breaks even and gets to drive it for a few years, so what ? What's better than working on a car that you're proud of ? It's not always about turning something for a buck.

 

[Alter Ego Trip]

salvaged title cars are worth 75% of book, according to the banks that make loans on them.

There's a difference between what they're worth on the retail market and what a bank will loan. A couple years ago BOA would loan 200% of book to someone with good credit. Does that mean I could retail all of our cars for that? Of course not.

No way in hell would I pay over 50% of wholesale value on a salvage car. I doubt anyone else would either.

That said, I agree if he can put it together for cheap, it's not a bad way to go for a nice car when it's all said and done. The problem is; for an insurance company to deem it a total loss, the repairs generally have to exceed about 65% of the value of the vehicle. So off the top of my head, an 08 Mustang GT probably wholesale books for low 20's. That means the insurance company assessed about 13k worth of damage. So I highly doubt, even doing it himself, he's going to put it together for 10-12. JMTC.

 

[Germeezy3]

There's a difference between what they're worth on the retail market and what a bank will loan. A couple years ago BOA would loan 200% of book to someone with good credit. Does that mean I could retail all of our cars for that? Of course not.

No way in hell would I pay over 50% of wholesale value on a salvage car. I doubt anyone else would either.

That said, I agree if he can put it together for cheap, it's not a bad way to go for a nice car when it's all said and done. The problem is; for an insurance company to deem it a total loss, the repairs generally have to exceed about 65% of the value of the vehicle. So off the top of my head, an 08 Mustang GT probably wholesale books for low 20's. That means the insurance company assessed about 13k worth of damage. So I highly doubt, even doing it himself, he's going to put it together for 10-12. JMTC.

Correct, but as I said if he is planning on flipping this car he has ingest a white powder....but for a driver it may end up working out. It seems like a lot of hassle to fix a car that you paid the price of one that was salvage title and already fixed.