71/73

[jdmagoo]

Hi all,

This is my first post here on the Mustang forums and I am very new to all this so if you could please bare with me as I have a few questions.

I have negotiated a sale of $16000US for a 1973 ford mustang convertible which resides in Canton Ohio. The description is as per below:

Features and options:

•351 Cleveland V-8 4v

•3 speed automatic transmission
 
•Holley 4bbl carb
 
•Chrome valve covers, air cleaner cover, alternator, ignition coil
 
•Ram air hood (not true ram air)
 
•Dual exhaust w/glass pack mufflers (has that great rumble to it)
 
•Factory air conditioning (works but does need a charge)
 
•Comfort weave seats in excellent condition
 
•Crack free dashboard in excellent condition
 
•Bucket seats and center console w/armrest storage
 
•Intermittent wipers
 
•Magnum 500 wheels w/BF Goodrich Radial T/A tires in excellent condition (14")
 
•Power windows, steering, brakes, and convertible top
 
•Glass back window in top (parade boot included)
 
•Factory am/fm radio in dash

•Underdash mounted Denon am/fm/cd stereo with five speakers (approx $2,000.00)
 
•Full size spare tire with cover and original trunk mat
 
•Rear bumper re-chromed right after I purchased the car (it is the deluxe rear bumper w/bumper guards)
 
•Paint is in great condition with only a couple of small stone chips (about the size of the lead tip of a pencil)
 
•All chrome trim is in excellent condition
 
•Interior door panels have been replaced; however, I still have the originals that go with the car
 
•There is a dead crack in the windshield on the passenger side lower corner that was there when I purchased the car

•The top is newer and is also in excellent condition

The owner purchased the car 7 years ago from the second owner who had it since 1975.
Going by the photos (I know I know) looks like a very well kept car. I plan on getting an independent inspection to verify all.

I have a couple of questions if I may:

1/ Am I paying too much? So far I’m paying $16000US for vehicle - $1000US for transport to port and $3100AU for shipping customs quarantine etc. Then obviously GST and rego on top of that. Is that to dear for this model car?
2/ How does this price compare to local cars? From my week long research I can’t get the same car with all those features for the same price locally but could be wrong.
3/ How do these cars perform as an investment? I’m selling the idea to the wife as this is a good investment but is it really? I hope to keep the car as original as possible to keep the resale value high. I sought of hope if the vehicle is as good as claimed that it would be worth around $35000AU as soon as it hits the country. If so, is there really a market for this and will people pay that?
4/ I plan on getting the vehicle inspected as I know rust is a big factor in the eastern states, does anyone know of a good company for vehicle inspections? Practically good rust inspections etc.
5/ Also, I know this question gets asked allot but who is a good company to handle all importing customs etc.

I know that’s a lot of questions and I may have a few more as the process goes along, but I thank all in advance for their replies and inputs.

Cheers James
Please see below for photos

[jdmagoo]

Sorry cant upload for some reason

[Frank70]

Hi jd.

I am no expert on that model, but at the current exchange rate you are already at over $25000 Oz before you add duty, GST, rego etc.

I am not sure what they would add up - lets say A$30000 total.

$35000 sounds about right for that car here, but if you are buying purely as an investment, I am not sure it is the way to go. It's a buyers market at the moment - especially since the 71-73 models are not as popular as the earlier cars even though this sounds like a very nice car.

If you really want to the car and you just need to justify it to the wife and it checks out OK, then go for it by all means !

Cheers,
Frank.

[jdmagoo]

Yeah i guess i wouldnt be selling it straight away but maybe 5 - 10yrs down the track, but im more concerned about paying to much for something i can get locally for less, but am not able to find anything that does. ie ebay motors, carpoint and carsales etc

[Brent]

I didnt set out to buy a 71 but the rarity of my car & the condition/low mileage etc got me in.
For peace of mind order a Marti report as well as your inspection. Price seems Ok as I paid a lot more.:]

[Shermatt]

Hi JD

Welcome to the world of mussies.

Im over here in the states and can arrange inspections for you. As for the price, I think its a little steep by about $6k US. There being advertised for about $8-$12K in exeptional condition here in sunny Florida.

There is one about 3 hours from here that has about 78,000 original miles and looks MINT and hes asking $11K US.

Thats just my opinion  :(

If you need an Inspection, I have one of my guys up that way at the moment picking up a car, he might be able to swing past and take a sqizzy for ya.

You can contact me via our website  www.shermatt.com and take a look at our inspections link. If you need help shipping the car, we can help you there aswell. Whatever it is...were pretty easy to deal with and happy to help.

Trucking from Ohio is a little cheaper than that also.

Cheers
Matt

[jdmagoo]

Hey shermatt, thanks for the reply can you provide details and possible photos of the vehicle you talk about please.

Thanks guys this is the sought of feed back and opinions im after

cheers

James

[65pony]

hey mate firstly there is no GST charge as the car is over 30 years old, all you will have to worry about is a customs charge which will probly be just over 500 bucks or so.

And the price is a little steep for that type of car and you have to remember that the OZ dollar compared to the US dollar is really shit house at the moment!!

also i would be really concerned with rust in that car, especially because of where its located.

[rayl]

65pony
You may have misunderstood the terminology of one of the government's income streams.
Everyone pays 10% GST...it is the Duty that is waived due to the car being 30 years plus in age.
That is 10% GST on the car, any additional accessories...and on the freight I might add.
Ray  

[65pony]

i didnt pay any money in gst when i brought my car over about 3 months ago.

i only payd a customs charge and shipping.

i actually had a very long conversation with the manager at the importing lot and also with my shipper about this.

i would hav had to pay what a 10% gst charge on the car, shipping, customs duties and any additional insurance if applicable if the car was under 30 years in age.

i didnt pay anything like that so im not sure if my case was an exception which i doubt or thats how it is now days

[victorypark]

Originally posted by 65pony
i didnt pay any money in gst when i brought my car over about 3 months ago.

i only payd a customs charge and shipping.

i actually had a very long conversation with the manager at the importing lot and also with my shipper about this.

i would hav had to pay what a 10% gst charge on the car, shipping, customs duties and any additional insurance if applicable if the car was under 30 years in age.

i didnt pay anything like that so im not sure if my case was an exception which i doubt or thats how it is now days

Hmm seems strange...*scratches head*...AFAIK irrespect of whether the car is over or under 30 yrs. old u still have to pay GST so not sure how u escaped that one....::

And if it is over $50K for memory a luxury car tax applies.

Those in the know will know......:(

[Cruzn65]

65pony who was the importing agent etc!!!! :a we all want to use them!!! NO GST! :a:a:a:a:a

[jdmagoo]

Yep with all the government agencies I rang today including Department of Infrastructure, ATO, SA transport and AQIS they all said the same thing. You must pay GST on vehicles imported from overseas regardless of how old they are, it’s only the duty that doesn’t need to be paid for vehicles 30yrs and older.

Anyway moving on, the dollar has dropped by nearly 6cents in 2 days so I’m starting to think again about the price etc, I really wish I could upload the photos so you all can see and so you can make a bit better informed opinion on price vs. quality etc.

The rust thing: I know eastern states particularly north eastern states are the worst offenders, however I will be getting a really descent inspection done on the car and the owner has promised me it hasn’t seen any snow etc as it been locked up in a heated garage all its time, in fact the reason he wants to sell is based on putting a new vehicle in there and he doesn’t want to parked it out in the weather. But I guess an inspection will confirm all.

[eri67]

Originally posted by 65pony
i didnt pay any money in gst when i brought my car over about 3 months ago.

i only payd a customs charge and shipping.

i actually had a very long conversation with the manager at the importing lot and also with my shipper about this.

i would hav had to pay what a 10% gst charge on the car, shipping, customs duties and any additional insurance if applicable if the car was under 30 years in age.

i didnt pay anything like that so im not sure if my case was an exception which i doubt or thats how it is now days

:::: :* Shhhh:+

[65pony]

just went over all my paper work and couldnt find a cent i payed in gst.

the shipper may hav already calculated this and just put it in with general shipping but thats doubtful.

I'm puzzled as to how i didnt

[derwin66]

Watch out for the tax man, hope he isn't watching:f

[jmd1]

Whats up Derwin ...moved from one dpt 2 an other.

[Red71]

Originally posted by 65pony
just went over all my paper work and couldnt find a cent i payed in gst.

the shipper may hav already calculated this and just put it in with general shipping but thats doubtful.

I'm puzzled as to how i didnt  

Hi 65pony.

On your clearance form there is a line with all the details in Aussie dollars after they have calculated the conversion. This line will have the price, the customs value, transport & insurance value, Duty rate (which should say 'free'), duty (which should have a value of $0.00) and the last detail will be GST. If yours had a value for duty and no value for GST, I would say that the customs broker just put the amount under the wrong heading as there is no duty payable. If on the other hand they missed it altogether, don't be telling too many people and be thankful - it's not to often someone has a win against the tax-man.

[65pony]

yeah cant find it anywhere so i mite keep this one quiet! ::

[rayl]

And don't start me about Luxury Car Tax...I paid some of that that too !
Ray

[rayl]

Can you tell I have a thing about taxes on imported cars ???
Ray

[jdmagoo]

All right going back to topic, what does everybody think about the above vehicle, one thing i found out today is it has 45 000 original miles but again will not be able to confirm until the inspection. Also the dollar has dropped by almost 10cents in three days which has added a lot to the price. Im hoping it will recover to around 75cents in the next week (or around the time i make the transaction) but not sure. An analyst from ANZ yesterday predicts that it will but again only time will tell.

Im interested in your opinions

Many thanks

James  

[jmd1]

James.
Do what the rest of us have done,  if you like it buy it.
What ever car you look at the one you like will hit you and will take you're fancy.
My 2cents...
By the way nothing wrong with 71-73s.:(:(:(:(:(

[Red71]

Originally posted by jdmagoo
All right going back to topic, what does everybody think about the above vehicle, one thing i found out today is it has 45 000 original miles but again will not be able to confirm until the inspection.

Hi James,

Sorry we got off the topic - it's so easy to do.

I have a fully restored 71 Convertible with 110,000 genuine miles and I absolutely love it. Of course, it is not as popular or as sought after as the earlier ones - but it drives better and is more comfortable. As for the price, mine was a little less than that, but that was over 12 months ago and it has a 302 2v Windsor in it.

Do you know the VIN to make sure it is a genuine 4v car? I know alot of people say there are heaps of cheap 71-73 convertibles for sale in the USA, but most of them need restoring. If the inspection shows that yours is a genuine low mileage car and the resto has been done properly, go for it. As for your investment question, don’t buy it just as an investment, buy it to drive it and enjoy it – because unless a Mustang is a low production model or a Shelby, the value will appreciate, but not to the level where you can retire on it. I hope this helps.

Peter

[jdmagoo]

No need to apologise all good.

I think i might pull the pin on this one as the dollar has slipped so far now and i dont want to stuff this guy around hoping it will raise again. But you never know, it may go back up to 75cents over the coming week but i doubt it. Also, i didnt realise the registration in SA was such a big deal with LH drive cars, bottom line is i dont think i would have been able to register it without returning it back to the original colour which is a lighter blue than is currently. ;];];]