I was in Junior in High School and it was the early 80s. I was driving a hand-me-down 65 Mustang coupe that my dad bought from the original owner in the 70s. I had always wanted a convertible and I found one for sale - for $2k. The car was green with a blue door, had only 2 hubcaps and nearly bald tires, the front end sagged and the top was torn as was the carpet and seat upholstery but I still wanted to buy the car and fix it up. My parents co-signed for a loan from the bank and I had to work the day we received the funds so my parents drove out to pick up the car (it was about 45 minutes away from my home) - it was also tax day - 4/15/81.
My parents called and said they had picked up the car and it was home - I was so excited that I could not stay at work any longer and ended up quitting my job so I could go home to see my new car. My dad informed me that on the way home the car was overheating, only firing on 6 cylinders and would not shift out of 2nd gear (302 with an auto tranny.) He said the car was a good buy but the engine and transmission would need to be rebuilt. Not a good thing to hear after quitting my job - I had worked at Wendy's so the income was not much to speak of and it remember thinking that it would take forever to make payments and save enough to have extensive engine/tranny work done. The car sat in the garage for a few days and then my 'fix everything' uncle visited. He checked out my new car and then asked me to go the the auto parts store and buy a ten cent piece of hose. He actually replaced a vacuum hose (with the ten cent hose I had just purchased) on the transmission and the car ran perfectly over after that. The temp sending unit was faulty so he said the car was not overheating - just a bad sending unit. The oil sending and fuel sending units needed to be replaced as well - but I kept a cut piece of garden hose in the car to stick down the gas tank to measure fuel level until I could afford to pay for repairs.
I have had the car for over 30 years now and have put in 2 new interiors, 2 tops, several paint jobs, had the engine and tranny rebuilt (during my final year of college) and spent untold hours making repairs and/or sending to the shop for repair. It is still a great car and waas a great buy - I expect to have the car for another 30 years.