Potential 66 428 buyer

[1966Stang]

Hi! I've come across a black 1966 Landau T-bird for sale ($5,000 obo) supposedly with a 428. I'd really appreciate some advice concerning whether or not to pursue the vehicle further. To be honest, I'm approaching this as an investment, not a car to be driven daily. From my initial phone conversation I have learned that it is in "original condition", interior is flawless (white), paint has some minor dings, no rust, sliding steering wheel (automatic) and has basically been sitting in a garage for 5 years with occasional start-ups but hardly no driving. The power windows don't work (blown fuse but can't find the fuse) and it leaks oil REALLY bad, but does not know from where. He says that it looks like it's coming from the oil pan. I've seen pictures of the car inside and out and it looks REALLY clean.

Question #1: I've read about the presence of a "Q" in the vin number to confirm whether or not it has an original 428, but exactly where should the "Q" be in the string of letters and numbers? Sub-question: On the NADA classic car value website, it lists both a 345hp and a 360hp version of the 428. How can I find out which one this car has?
Question #2: If I chose to look at the car, is there any way I can pinpoint the oil leak without taking it to a mechanic?
Question #3: If I did want to invest in having a mechanic inspect the car, how much does that usually cost and should I take it somewhere that specializes in classics?
Question #4: If I fixed the windows and oil leak and the car runs good, how much would it be worth? The NADA says average condition is $16,000...
Thanks for any help!

 

[swi66]

Just a personal observation. Never buy a car as an investment, unless you can also absorb a loss. While some cars are almost guaranteed to turn a profit, I personally think the value of these Flairbirds is not as high as you may think, and I have seen some for sale that remain unsold.
Buy a car you want, that stirs your inner emotions, because you may have to own it for some time.

Investment cars can be money pits................why is it being sold cheap?

swi66

I own a 64 and a 66

 

[1966Stang]

To clarify further, the individual claims to have bought the car 5 years ago to turn it into a hot-rod. But, he got married, had kids, and never got around to it. They're moving and he has to sell the car quickly. He knows it's worth more, but is priced to sell.

I actually do have a deep appreciation for old cars. My grandfather has a 55 and a 56 Crown Vic (one was a national champion), a 56 T-bird, a 65 Mustang and a 66 Mustang convertible. I didn't just pick this car out of the air b/c I thought I could make $10,000 on it, but rather than let it end up in some junk-yard, I want to fix it up and either keep it long-term as an investment, or sell it to an enthusiast that would appreciate it now.

Your unsolicited warnings will be taken into consideration, however I hope others will be able to answer my questions more directly.

 

[AllFlairedOut]

If the 5th spot in the VIN is Q "6Y87Qxxxxxx" it's a factory 428 if its a Z "6Y87Zxxxxxx" its a 390. As far as the leak goes it could be anything check the oil pan gasket and valve cover gaskets first. I have seen some decent quality 66 convertables go for less than $16,000.00 I think a Landau would have to be in great condition to get that, even with a 428.
Good Luck

 

[tbird5866]

Seems to me that the NADA book has always been showing excessive prices on the Thunderbirds. $16,000 is way out of line even for a number 2 car. The non-working windows could be the window safety relay (most likely), a fuse or window switches. Oil leaks fron the rear of the intake manifold have been a problem on FE engines. Look there. Expect the 345 HP 428 engine. I would expect a mechanic to do a real good job examining the car for $100. Maybe $50 for oil leaks only. By the way, the 428 is not as rare as people would lead you to believe. When it's all fixed it will be worth what someone will pay for it!

 

[1966Stang]

Thanks Everyone! I looked at the car on Saturday, and rather quicly determined it was going to need a lot more work than I was prepared for at this time. The oil seemed to be leaking from multiple sources and probably needs a rebuild.

For being in "original" condition it was in suprisingly good shape however. Everything except the windows works on the interior (one stuck up, one stuck down). The undercarriage is another story, extensive rust there, including holes in the exhaust.

I checked the VIN and it does have the 428, it's a "81 = Thunderbird 2-door Town Hardtop (1966, no rear quarter window, steel roof)" and was assembled in Michigan.

Here's the classified ad in case anybody is interested..... http://chicago.craigslist.org/car/123108158.html
He's really desparate to sell!

It's in Woodstock IL, about 1.5 h NW of Chicago.