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Re: 84 gt350 (what it's worth)
The '84 GT350 (a.k.a. - 20th Anniversary) was not highly regarded for collection as it was just a trim car with no special handling or power options beyond the other standard Mustang options. So, it may have a tiny increase in value due to just being "different", but I wouldn't push it more than 10% or so (NADA Mustang GT 5.0L + %). I've seen a few nice ones float by for $2000-$3000 in the last couple years.
I agree the rust is a large concern, as it is with any classic. In a general sense, you are better-off buying a rust-free car at double the price as the cheaper option. Are you willing to spend $1000-$3000 to repair the rust and touch the paint up in the near future? The stickers that 'make the car' are also no longer available, and cu$tom ones would have to be made. And, don't forget, time takes it's toll, so low mileage is nice, but stuff still goes bad and needs replacement even if (and often especially if) it sits more than it gets driven. So, just a reminder that low-mileage doesn't make you immune from most issues.
Although the 5.0L version is generally more desirable as a traditional 'muscle car', the turbo 2.3 version was actually the faster version. Bottom-line is if it lights you up - great - though one with less rust would be a less expensive option in the long run. The same car rust-free from out-of-state at a similar price, plus $1000 to ship in in from outside the rust belt is a viable option, if you see where I'm coming from with this.
David
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-=≡ If it was easy everyone would do it ≡=-
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Melissa
LOL But that's just cause my tastes lie in other directions 
