Thread: About to (maybe) buy my first hotrod. Please school me on 1931 Ford Coupes

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HOT ROD BUYING CHECK LIST
This is my basic list of estimated costs when looking at hot rods, sometimes it prevents me from making stupid impulse purchases;

Tires = $500.00 to $1,000.00 (sometimes even more), look at the DOT codes (after 5 years tires are questionable, 10 years done)
Wheels = $600.00 to $2,000.00 (sometimes even more), look for bent rims, or style you don’t like
Brakes = $100.00 to $1,000.00 (sometimes even more), pedal firm and stops well, no noises, visual wear at rotors
Body work = $1,000.00 to $10,000 (sometimes even more), damage, rust or signs of excessive bondo use
Paint = $1,000.00 to $10,000.00 (sometimes even more), checking, peeling, lack of luster, or color you don’t like
Interior = $3,000.00 to $6,000.00 (sometimes even more), needs repairs, out dated or you don’t like
Motor = $2,000.00 to $6,000.00 (sometimes even more), smokes or makes noise (don’t be fooled by fresh fluids)
Exhaust system = $400.00 to $2,000.00 (sometimes even more), check for wear, rust/corrosion and leaks, or you don’t like
Radiator/Cooling system = $400.00 to $1,500.00 (sometimes even more), look for damage and cooling operation (don’t be fooled by fresh fluids)
Transmission = $800.00 $2,000.00 (sometimes even more), check for slippage and shifting problems (don’t be fooled by fresh fluids)
Suspension = $200.00 to $2,000.00 (sometimes even more), squeaks, knocks, shimmys and vibrations
Sound system = $200.00 to $2,000.00 (sometimes even more), listen for blown speakers, or you don’t like
Misc = $10.00 to $1,000.00 (sometimes even more), broken antenna, mirrors, signal lights exc

If more than two of the above are present, I start negotiating costs accordingly. Body, paint and interior are my weak areas, so I try to avoid cars that need them or negotiate it in my favor. Set a budget for what you expect to pay and be prepared to walk if it doesn’t fit the budget. And remember, it is OK to tell someone their car is not for you.

After purchase, I try to budget $100.00 to $200.00 a month for for upkeep and misc., not counting fuel costs.

So here are some photos he just sent to me. I know this guy my whole life, and if he says it runs and drives good (he does say that), I believe him. He represented it to me by phone as a nice 80's rod that needs updating, and that appears to be what it is in photos. Of course I aill go see and drive it first.

Very clearly in the photos, it needs:
A complete interior with dash
Wheels and tires
New aircleaner and valve covers (no big deal)

If possible I would sure love to remove the visor and chop it. Any idea what that would cost? (approx is fine)

All of you can probably pick out a million things in these photos to tell what is on and under the car, suspension types and frame type. Please fire away!

I think my game plan is this. I want to be absolutely fair with him, he's a very decent cool guy, and while I don'20160305_134742.jpeg20160305_135835.jpg20160305_134921.jpg20160305_134958.jpeg20160305_134717.jpgt want to overpay, I want to be fair as well. I think the fairest thing for both he and I is for me to try to determine, with all of your help, what the car would be worth with wheels tires and interior. Then, back out the cost of doing that from what it'll be worth in the end, and then go from there. The chop is something that I will have to determine if I really want it enough depending on what it costs to have done.

Also, if I wanted to go without hood and fender, what's involved in removing them? I know they just unbolt, but I'm assuming there is paint and bodywork usually involved in cleaning up where they once were?

Looking forward to your input.
Thanks.

For some reason this one didn't attach last time: