1986 Ford Mustang LX Convertible as a first car?
Before anyone jumps me based on the title, let me explain my situation.
I’m an international student in the US, and I’ll only be here for a limited time: less than two years total, split between about 8 months here, a 4-month break back home, then another 8 months here. My dream car has always been an older classic convertible. Where I’m from in the Middle East, finding one is hard, they’re very expensive, and as a girl I honestly would not feel as comfortable driving a convertible there. So this might be my only realistic chance to own one.
I’ve been saving for the past year and currently have around $15k. I could probably budget at least $5k per year for maintenance, repairs, etc. I would expect to drive it around 24 miles a day, but I don’t absolutely have to because I do have other transportation options. I also live in Colorado, so with the snow/rain I would probably only drive it around 5 months out of the year.
The things that worry me: this would be my first car ever, and I know basically nothing about mechanics. I know a few people who know cars a little, but not enough to fully rely on. Also, I don’t have family here or anyone I can borrow money from if something major breaks. I’m also a student with a heavy credit-hour load, so I don’t want something that becomes extremely time-consuming or constantly stressful.
People keep telling me an old/classic convertible could be a financial trap, but I’m trying to understand what that actually means in real life. What kind of problems could I realistically face? Is the risk mostly random expensive repairs, finding parts, reliability, insurance, storage, rust, shops overcharging me, or something else?
I’m not asking if it’s the most practical decision, because I know it’s not. I’m more asking whether it’s “fun but manageable if I’m careful” or “this could ruin your life and savings” level of bad idea.