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So I thought this would be the best place to ask, I have the opportunity to buy an 89 Shelby edition from someone I know but I'm unsure of the worth of this particular truck.
The pros:
  • Color is white, paint is crisp and not faded
  • Intact interior and exterior, although dirty.
  • Has all the original trim.
  • Garaged and has minimal if any rust .
The cons:
  • Small chips and dents in the paint, mainly on back bed.
  • Definitely hasn't been cleaned or driven in a while.
  • One tire is flat, the others look about 5-10 years old, so it will need a new set.
  • Power steering leaks.

It has 121,000 miles on it, and the owner is asking $8000 but is willing to negotiate.
My question is, what is the max I should spend on it? It would be my project car for a while, so I'm trying to decide the price that makes it worth my time.

Thanks for any input!
 

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It ain't worth 8 grand. Not even close. The owner is delirious... Mine is not a Shelby but 124000 miles, 95 model extend cab.. 1100 bucks.. And Mine was clean... I wouldn't pay between 3 to 4 for that crap
 

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I just saw one for sale by me. The guy wanted $6000. It Had 89000 miles but was in excellent shape. 8 or 9 out of 10. Really clean inside and out.
 

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A really nice one with around those miles sold on Bring a Trailer for $8000 and people said it was a steal.

Another one with 47,000 mile sold for $17,500 but it looked mint from my glance at it.

But to me it seams like on unique vehicles like these they typically go for a high price on Bring a Trailer. Higher than you would likely get in your local market.

With the mileage it's going to be a cool truck with a cool history behind it so it's worth what it is to you. I doubt once you fix it up and use it you would ever get your money out of it but you will have a nice truck to have fun with. To me though the problem is the Shelby's is they were 175 HP and the stock V8 in the 1992 Dakota was 230 HP. Add to it the Shelby used an electric fan which is you live anywhere hot I don't think would keep it cool in the hot summer. I know the belt driven fan was borderline in my 1989 Dakota convertible and now that I have a V8 in it and live in Arizona I'm looking at getting a custom radiator to help keep things cool when it's over 100.

Personally I would find a convertible, swap a V8 in it, and you have a really awesome tuck like mine. I love the convertibles and get comments and questions on it all of the time.
 
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