FS: 87' Thunderbird sport coupe
Reply #5 –
As far as the trans, I wouldn't be suprised if it was as simple as a valvebody gasket(fairly common)...that was the problem with my old T-bird...I bought a B&M shift kit and in an afternoon it was good as new.
For what it's worth, I paid $1600 for my '88 Cougar XR-7 and it has the HO, a T-5, factory 8.8 with 3.08 trac-lok, 10-hole wheels, nearly mint red leather interior and I still feel like I got screwed. I've had to go over so much on this car to get it closer to being "right", and the body is in much better condition than yours.
I think it would be in your best interest to keep the car and put a little into it here and there...I don't think it would take much to be a nice car again. Either way, good luck!
-Don