I decided the 89 Mustang GT was a bit of a basket case... so now I want to buy my grandfather's 1994 Mariner Blue Miata! It has 265k miles (somewhere around there) on a stock (never refreshened/rebuilt) 1.8L that has no problems (as far as I can tell) with going full throttle up to 6500 rpm. The body is... a bit shitty to be honest. The back window isn't fully attached to the top so much as the flap that the window is attached to has been sewn to the rear bar of the mechanism... sketchy but it works. It has a decent amount of rust on the rear of the rocker panels on both sides... the toll of living most of its life in Indiana I'd assume (belonged to my Uncle for 18 years). It also has a giant dent in the passenger side fender.
It runs and drives fine, but looks like hell. I'm thinking of offering him $750 for it at the end of the summer (I know, it's a bit of a low ball, but I've helped him for the past 4 years rebuild his wrecked Stearman amongst other things...)
It would cost around $3-400 to fix the rust and body imperfections (other than the top; if it ain't broken, don't fix it) and I could put another $400 into the suspension (Racing Beat suspension kit with sway bars and lowering springs) and $300 into an exhaust system. I would also probably invest in a rebuild kit for the engine... another $150 or so. Keep in mind I'm doing all the work here!
So, should I do it? I would be waiting until the end of May at the VERY earliest...