I kind of want something that is already done, and ready to drive. I don't have much spare time to work/learn DIY.
What should I watch out for?
Also, can this car be my daily driver?
I only work 10 miles from my house, and I have a winter beater?
Best thing to do is to do a LOT of research. See if there is an old Mopar car club in your area.. if so join it and talk with the people in the club. Also, go to car shows and ask, ask, ask... owners of the car you want at car shows are very friendly and will tell you anything you want to know... what parts are hard to find... what to expect, what to watch out for... they may even know someone that has a car you want to buy.
It is just like buying any other car. Do your homework and find out what people are selling their cars for and not what they are asking. If you don't know much about cars, then take it to a mechanic and get his opinion. There are independent shops in every town that you can take the car to. How does it drive? Any rattles or vibrations? If you are buying a 70 Challenger as a daily driver, you are paying a premium. But hey, it's your money.
I would suggest checking out the WIW (what's it worth) section on moparts.com. There are some very knowsgeable people there that know older mopars and their values.
As said above. Join a Mopar club. Find out the knowledge of club members and check out their cars. Try to find the best factory stock examples. I think right now classic muscle cars are at an all time high of being hacked together. Take your time.
Factoring in that this car has had restoration and options, A/C, PS, PB automatic, that's a good price. Based on the fender tag, this was a real R/T, 383 and in the FY1 (yellow) color/ black interior color. Pretty good price.
A 41 year car would need work and rust is a problem on these cars, especially if they were parked outside a lot.
Another problem is a car that sat unused for a long time - the fuel tank, fuel lines and brake lines frequently develop rust and require replacement.
A full restoration runs $30 -40k alone nowadays, plus the cost of acquiring a car, and that's providing there aren't a lot of panels that requiring replacement due to rust (floor pans, trunk floor, rear quarters, lower cowl)
Now, if I wanted to finance this car, what would be the best way?
I want to pay the least amount for as long as I can. For example,
I would like to finance for 12 years @ %4.99
I think your going to run into a problem with that unless your thinking about doing a home equity loan which wouldn't be the wisest move. Most of the time it's a cash and carry deal when your playing with used muscle cars. If you belong to a credit union you might have a chance but lenders are very tight these days they don't want the car they prefer to have something more tangible.
Not trying to rain on your parade but using a classic for a DD is a awesome idea provided your in a good location without snow these old E-bodies weren't to good in the snow...
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