I've been meaning to write this out for a while, and finally got around to putting finger to keys. I mainly decided to write this from the perception I've seen that many fox body Mustang fans still have:
-They are everywhere
-They aren't worth more than 10k
-The only reason guys buy them is because they are cheap
Yup, many guys still think it's the late nineties. The above points were true even ten years ago, but this is 2016. So here's the reality:
#1 The newest fox body Mustang is now 23 years old, going on 24
Thats right, nearly 24 years old. Just by sheer age, the foxbody Mustang is getting more and more scarce. All of the cars that were totaled, all the cars that are now strictly race cars, the rust buckets, all the ones parted out and rotting away, etc. Figure at least 1/4 of the cars succumbed to one of the above fates.
#2 Foxes are being exported daily
This is a fairly new phenomenon that I've come to realize. Many countries like Kuwait, Venezuela, UAE, and so on have a huge fox body Mustang fanbase. Especially the owners in the UAE that have plenty of cash to throw at a clean, low mile foxbody Mustang. I get messages everyday from people from those areas asking if I know of any cars for sale. They spend the bucks, and are buying super low mile foxes by the dozen.
#3 The value is going up due to reason #1 and reason #2
Supply and demand is econ 101. You simply can't argue with it. The less there is of something, the more valuable it is. Sure, there are a good bit of shitbox foxes out there, I am not referring to those cars. I am talking honest foxes, survivors, unmolested examples. Be ready to spend 8-10k for a fairly stock, fairly clean LX hatch or GT. Notchback? Plan on 10-12k depending on colors and condition. Add in black interior, rare colors like Reef Blue or Bimini Blue, and the price continues to climb.
#4 Older guys are leaving their GT500s, and coming back to a foxbody Mustang
The generation of Mustang guys that cut their teeth on a fox in 80's and 90's are abandoning their newer cars for the simplicity of a fox body Mustang. They are also becoming more nostalgic about their younger hot rod days, when they ran 13s in their new '87 notch. I get the messages every single day, from guys who can certainly afford whatever car they want, but are looking to get back into a clean fox. Simplicity is a wonderful thing these days, and many guys get tired of all the extra garbage on new cars that they simply don't want.
#5 The aftermarket is hotter than it's ever been
As new models continue to roll out, many aftermarket manufacturers move on to the latest and greatest. That isn't true for the fox body Mustang. Almost daily I see killer new performance and resto parts come out for the 79-93 Mustangs. This is very appealing to someone looking to totally restore, or restomod a foxbody. Many cars from the same era have little to no parts out there, especially for restoration.
So there you have it. The winds of change are blowing, and I predict the cars will continue to get harder to find in nice examples, and quite a bit more expensive. Get yours while the gettin' is good.