Used 98 Ford Mustang

Hello, I have minimal knowledge of cars but I am currently looking for one in the $3,000-$4,000 price range. I went up to a local auto fair today and spotted a '98 Ford Mustang and checked it out. After speaking with the owner and getting a Carfax, it appears it is a good deal ... but my friends are telling me that it is not worth it. The most glaring problem: it has 155,000 miles. The owner claims it was routinely serviced but has no records. The carfax shows no accident history and only two previous owners and I intend to ask him tomorrow during a test drive who the other is (I believe it is his daughter). He says she drove it while in college and had it regularly checked but did not keep the records. For $110 a local shop will do a complete inspection. I did not see any glaring problems from the outside or inside: no dents, no scratches, no smells or leaks anywhere, tires look brand new, the ac and heat work, he had installed a 14 disc cd changer, etc. He is asking $3,200 OBO so I may try to get for $3,000 - $3,100

Is this a good deal or should I seriously reconsider given it is a sports car that is 12 years old with 155k miles? Thanks!

At this price the model year and miles would not be my main concern,,, the test drive and mechanical inspection would decide my further interest.

When you go for the test drive, here is a link that will give you a few pointers what to look for http://www.usedcartips.org/TESTDRI.html

If vehicle should still be of interest after the test drive, the $110. independent mechanical inspection will be peace of mind,,, I assume with the cost of this inspection it includes a compression and diagnostic check- Up ?

The seller is asking $3200. and you want to offer $3000 - $3100.,,, sorry to say, shows me you got no clue how to start the negotiation process,,, you start at $2500. and work your way up slowly,,, this is really an area that can branch out as to what is a fair paying price " example " suppose the mechanic says the vehicle will need $800. in repairs to make vehicle 100% road worthy. " what will now be a fair offer ? "

Thanks for being honest with me

I called the man back and canceled the test drive; I just don't feel comfortable with the purchase.

Even if the check came back perfectly clean, I don't feel good about it's 17 mpg city / 24 highway and the high insurance costs for such an old car. I'm going to just look for something more reliable / typical / practical like a Toyota

Good decision. The moment he said he had no service records could mean there was a major repair that he didn't want to disclose.

Always make sure that you have the car checked by a mechanic, despite the mileage or good looks of the vehicle. Don't make risky deals.