My thinking was $8 K but I would be willing to go $10 because of the very nice interior and "strong" motor. I will advise caution though, as his CL ad provides clues that he has already received a lot of what he considers "low ball" offers and he is unhappy about them.
That statement about "great shape absolutely free of rust" suggests some strong denial. That and the fact that he admits being into the car for $27 K. It's going to take him a while to realize that he made a very uninformed large purchase and he is not going to get out of a significant loss. Unless he is very lucky and another extremely uninformed buyer shows up - which is what he is wishing for.
2012 Mustang Boss 302 #1918, Competition Orange. FGF replacement 2006 Mustang V6 Pony, Vista Blue. Factory ordered. 2019 BMW X3 (Titled to the wife, but I'm always driving it for her. So I'm claiming it) Old projects, gone but not forgotten: 1967 FB 400, original CA car. After 22 years of work, trashed by the guy who was supposed to paint it. I had to sell it. 1980 Turbo Trans Am 1970 Mustang fastback, 351C 4Bbl, auto 1988 Mustang GT, 5 speed 1983 F-150 4x4, built 302 1994 Chevy K2500 HD 4x4, 454 TBI