HELP !!!! Should I Buy This?

I have found a Sebring about a thousand miles from me that was built by an unknown builder and exactly when i uncertain h has passed away.  It was driven 200 miles on the odometer and has never been registered and would cost me $9000 With shipping to my door.  it has a 302 with a 5 manual speed transmission.   Runs and drives with a new carb.  The motor had "cougar" cast valve covers that may mean it and the front end and rear came from a Mercury Cougar which were Mustang based until 1970.  I would guess it is about a C- with the following questionable issues:
No bumpers
Top is in poor shape
"Cougar" parts unknown
 Will need a repaint

SHOULD I PULL THE TRIGGER?

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Hey Arthur,
From what we can see, yes, i would buy it. For $9k you might have room to fix things and not be in it too deep. Finished cars are about 15-20k
FYI - the suspension is from a Mustang II 1974-78.
Engine and tranny could be Couger, but little else.
Bumpers are pretty cheap, and a new top is in the $700 neighborhood. Paint..???? That can be crazy expensive. The gelcoat is pretty thick and i would try buffing and polishing first.
Have you seen it ? When did it last run ? Is there a bunch of paper work ?
Can you get it registered in your state ? (The legal stuff can break the deal.) Is there anyone here nearby that can look at it ?
Yeah, there's a lot to find out if you have the time, but looking at the background in the pictures, it looks like he was a car guy and knew Fords..?

The 200 miles would worry me.  I know from my experience with street rods, that cars with super low mileage usually have some kind of problem, maybe more than one.  I would want more info as to why it was never driven.  Could be a legitimate reason or it could be a serious mechanical or electrical issue.

Also, having never been registered, you need to know who actually owns the car and can they sell it.  Might be a family member that is selling it without the knowledge of other family members.  Be sure to get a Bill of Sale that is legal in your state.  As an example, my state requires a notarized Bill of Sale to be legal, some only need witnesses to sign them.  Find out and get it right so you don't have to track down someone a thousand miles away in the future.

The big question, as Jerry said, is registration in your state.  Again, there has to be a reason that the original builder never registered it.  Contact your state office of motor vehicles and get the real info on what is required.  Local offices often don't know or get it wrong.  Very few people register home built cars compared to all the regular registrations that the local offices handle.  Some local offices may have never registered a single one.  Having already been completed, if it truly has never been registered, may present a problem, since now you may have to prove origin of the car and it's parts.  Again, using my state as an example, when I built my T-bucket, I had to have a paper trail for every serial numbered part on the car before I could get a VIN.  Every serial numbered part had to checked, by a state official to see if it was stolen.  The paper trail was to get my butt out of bind if something was stolen and to provide a value of the parts used, for tax purposes.

If you know anyone in law enforcement and you can find a serial number on the car, you may be able to get them to check to see of that number has ever been registered.

Some states have very lax registration rules and some are very strict and full of potential mine fields.  Good luck.

BTW - I agree with Jerry, if you can get the registration worked out and the mecahincals and electricals are pretty good, the price is not bad.  I would look for obvious issues and try to talk them down.

Oh, never buy anything like this without actually standing in front of it and checking it out.  Way too many ways to get messed over with on a long distance sale.  Sorry, you might not want to do that, but you really need to see it in person.

And, if you do go see it, take someone with you that knows cars. The potential buyer is looking at the car through excited eyes and will often gloss over issues. Another person, who is not wanting to buy the car, can spot problems you might discount.

Thanks for the help.  Good answers and advice.  I live in an easy state and will have no issues getting it registered.  I had a friend looked at it for me today that lives nearby and the description and pictures are accurate it runs and drives but a little worn from sitting in storage.  The low mileage on the odometer is represented as it got 90% finished and the fellow stopped working on it and passed a about 10 years ago.  I will think about a way to go see it myself

BUY IT!!!

I have a fight set for January 23 and will be looking at it and taking cash with me. I expect do buy it on that day!

Arthur,
i plan to be home that day. If you have questions, I'll PM you my number and we can chat.

I went and looked at it and the truth is it was gonna need so much work a rehab of the interior and exterior and couldn’t get it started
Couldn’t get him to a price that made it worth it

Where is it located? Maybe another member may want to take it on.

Here is the summary of what it needs If a member is interested PM me

Body work on both flairs on one side and rear corner.
Needs bumpers and mounts front and back they are missing
Peeling paint and sun faded and stained whole body.
Top is shot and shrunk from years in the sun.
Seats and carpet are bad.
Dashboard is bubbled and peeling
Does not start (he lied and said it did)
Missing hood trim
All chrome-work peeling including grill and mirrors.
Someone who knows the car said it needs to be rewired.
No VIN never registered
Sitting mostly outside open and closed for 10 plus years
$8000 with no room to discuss it.

That is quite a bit of money for the condition it is in. Wise move to walk away. There will be others in much better shape, just keep looking.

I figured that at $2500 - $3000 it was worth the shot. But NOT at $8000 plus having it shipped

If I see anything for sale, I'll post it in the Classifieds section.