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Many Mustang enthusiasts dream of owning a GT500. Ford’s Halo Mustang of the S197 generation has set the bar high for performance. Unfortunately, a GT500 is out of reach for most due to its high purchase price. Even used GT500s carry a premium pricetag, often making them as expensive as a new Mustang GT, if not more.
What if there was another way to get your hands on a low mileage, GT500 for a fraction of the price? We recently came across this triple black convertible 2011 snake with just shy of 5,700 miles on the odometer. The car is up for auction with just hours to go, and the current bid, $21,500.
There is a catch to this car. The title shows flood damage, and in most states that means if the water level that the vehicle was exposed to came above the hood, the car is written off as a total loss. A benefit to this one, the auction house says it starts and runs.
We can’t ascertain the full extent of the damage, but it appears the power top still works, and the dash operates. A savvy DIY enthusiast might be able to flush all the fluids in this car, inspect several of the vital electronic components and connections, and come out smelling like a rose with a practically new GT500 drop top for somewhere around $15,000-plus under market value of the same car used, with no damage on the title. Of course in our experience in the auto repair world, sometimes, flood damaged cars don’t show the full extent of their water damaged components for years, when suddenly rust buildup, or other damage that has been lurking rears its ugly head.
We’re not sure if we’d gamble on this GT500 or not, but it’s very tempting given the clean condition of the car, its menacing triple black appearance, and of course the proven 5.4 liter supercharged bullet under the hood.
Would you gamble on this one, or pass and pay the premium for a car with a clean history?
