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I found this Mustang on Craigslist.com The lady who was selling it was asking $5,250. When she agreed to sell it for $4,000 I had to buy it. It's a 2000 GT with 86,000 miles on the clock. Book value is about $5,000 so hopefully I can drive and enjoy it for a few months and then turn it around for a profit.
02/03/09: I picked up the car today. When I originally looked at the car, it seemed to run strong and I thought I could get away with changing the tires, maybe replacing the wheels, giving it a good detailing and it would be fine. As I drove it home, I realized that it won't be that easy. The car is running very sluggish, front brakes are sticking, and by the time I got the car home, the SES light was blinking. Hopefully, I didn't bite off more than I can chew!
02/06/09: Just a quick update. I have been looking for a used set of rims and tires as the right front wheel has some bad rash and the tires are all shot. At first glance the car needs a really good detailing, a minor adjustment to the front bumper, maybe polish the headlights, either a clutch adjuster or a new clutch and some floor mats. The clutch does grab well, but the release is really high in the pedal travel. Let's hope that I can get away with adjusting it or maybe an aftermarket cable adjuster.
As far as the SES the other night, It felt like the brakes were sticking. When I got home I checked the front wheels and felt a lot of heat coming from the front brakes. So I did a little research and found that these cars are known to have their front brakes bind up. First I'll clean up and check what's there and hopefully just do a standard brake job, but will probably have to replace the brake lines, calipers and rotors. However, what I really need is some time to work on it...
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02/13/09: Yesterday I picked up an OBD-II code reader from Harbor
Freight. Today I fixed the front bumper that was not attached properly on the
driver's side. Then I cleaned out the trunk area and stowed the spare, jack and
tire iron properly. I found a bunch of lighters and a 3/8 extension, bonus! Then I posted on the Cobra board and a Mustang board looking for clues
as to what might be wrong. Then I picked up some brake pads, plugs, oil, oil and
fuel filters and some cleaning products. Then I picked up some sand paper for
polishing the headlight lenses. Then I did a brake job and they seem fine.
Afterwards, I went for another ride and it ran better. It had a lot more power.
However, it sounded kinda bub-bub-bub-bub like the Jetsons. This got me thinking
that it might be a clogged cat. It also threw a code P0308. The P0308 lists
these as possible causes:
Faulty spark plug or wire
Faulty coil (pack)
Faulty oxygen sensor(s)
Faulty fuel injector
Burned exhaust valve
Faulty catalytic converter(s)
Running out of fuel
Poor compression
Defective computer
The guys on the message board agreed that it could be a clogged cat, but another
guy described my problems exactly and said that it was a faulty fuel pump. I'm
gonna check the plugs next. I bought some new ones anyway, because I doubt this
thing has had a tune up since it was new. After the plugs, I'll replace the fuel
filter. If it is still running rough after that, I'll have to decide if I want
to go through the trouble of dropping the exhaust to check the cats or just
replace the fuel pump. Since checking the exhaust is free (except for replacing
a couple of bolts) I may just do that first. Not really sure right now. I hope
it's the fuel pump and not the exhaust, because the fuel pump is about $50,
versus the cats, which are about $400. Total invested so far is just shy of
$100.
So here is the first punch list:
1. Replace the spark plugs.
2. Change the oil.
3. Change the fuel filter.
4. Power wash the top.
5. Clean the carpets.
6. Detail the exterior.
7. Polish the headlight lenses.
8. Detail the interior.
9. Register and insure it.
10. Diagnose and resolve the SES code.
11. Purchase and install replacement rims and tires.
12. Sell old rims.
13. Fix the speaker grill in the back seat area.
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