Hi all, I'm considering posting my Comet for sale and was looking for some feedback on value. It needs some work that I'm not capable of nor do I have the resources to do it right. I love these cars and hopefully some day I'll be able to get one that is more or less already done. Details: 1974 Mercury Comet 250 I-6, C4 Bucket seats, tan vinyl - slight tears on some of the seams Pros: -Runs & drives good -New: plugs, plug wires, cap & rotor/pertronix ignition, rear (drum) brakes -Grant steering wheel (have original wheel) -body is very straight, one smaller dent on door Cons: -typical cowl rust -rusty floor boards - some small holes - due to the rusty cowl -paint - it was a brown car, painted red and then painted black. Inside trunk & under hood still brown, door jambs red, rest of the car is black -some bondo spots from previous rust repair in doors and few on roof (used to be a vinyl roof it appears). -front bumper has been cut It's the car on my profile pic, can upload some more pics if needed.
The price on these cars is on the rise, IMO you’ll be better off having a reputable shop do the work that you cannot, if you sell the car and try to buy a rust free car at a later date I think you’ll end up paying a arm & a leg for a clean car in the future. On the other hand If you sell the car you have and use that cash to purchase the cleanest car you can find before the prices rise anymore you may be farther ahead. Just my 2 cents.
I definitely agree with you on the rising prices! Right now I'm about $2,000 into the car. However I fear that with shop costs for the floor and cowl that could go up to $3,000 or more. Getting all the necessary pieces to do a small-bumper swap seems to be another $500-$1,000. On CL I've seen some very nice cars with supposedly no rust, rebuilt 302, and basically no work needed for $7-9,000.
My other issue is that I tied up some of my funds and a place to store the car when I recently bought a 92 Mustang GT Convertible that was way too good of a deal to pass up.
If you can get your money back out, I would sell it. To take care of the rust you describe, plus the rest of the rust you will find when it gets painted, will be fairly costly. If you wanted to take it on yourself, it will still be a learning curve, fairly costly, very time consuming, and the results will be scrutinized by the next buyer. If you add a v8, bumper upgrades, and a paint job, and do all the work yourself, it still will probably not return your investment. I think of these cars as money pits and toys. If it is what you want it is all good......but if you are hoping it will pay you back, cut your losses now.
I agree. Definitely not looking to make money on it. At this point I feel like I could break even but I know it will cost probably 6-10k to build what I want out of it and it seems like I could buy basically what I want for that much or possibly less. Kicking myself for selling my old 75 302 LDO.
The market is flooded with older cars right now. People keep dropping their asking price on Facebook Marketplace because of the glut of cars there. I'm not saying you shouldn't sell it. But you might want to consider parking the car on a busy corner with For Sale signs on it along with posting it on Craigslist and FB Marketplace. Remember... everyone is looking for a bargain, and a 6-banger Comet isn't exactly rare at this point in time. Keep your expectations real and try not to be insulted by the low-ball offers. Another option might be to look for a trade for the parts or donor car you might need? I have stuff on FB Marketplace right now (not car related) and I've been dropping my prices every few days, but the stuff ain't selling. Trading might be a better option.
