I bought a 1988 mustang lx 2.3 automatic for $500. It's a little rough, and needs some body work done. The paint has some surface rust, and the floorboards have some rust as well, but none if it appears to be all the way through.
I bought this car to swap over to a 302/5 speed. I have almost everything to do the swap, just some engine stuff is left like an oil pump, timing set, gasket set.
I'm building the car to hopefully get into auto-x, and some open track days. I'm not wanting to build a show car or anything like that, just something to get out there and have some fun with for as cheap as possible. I should also add that I'm trying to build it in the same fashion as the challenge cars.
Here's what keeps running in my head as far as options go.
a. Do the body work, clean up the rust, and throw a cheap paint job on it. Then finish assembling the 302, and swap it in. b. Finish assembling the engine, do the least amount of body work. Just sand down the rust spots and primer them, then drive it ugly. c. Do the body work, and instead of swapping the 5.0 in, do a budget 2.3T build. d. Just fix the 4 cylinder and drive it like it is, and slowly work on the body. And decide on the engine stuff on down the road.
I was thinking about just buying a newer car, but after taking a look at the current debt I have, I just cannot justify going in debt for a car right now.
Here are some pictures of the car in question.
Floor pans
