This is one of the most solid survivor 1940 Mercury convertibles you will come across. Exterior: The car is rock solid underneath and only has some superficial surface rust with no rust through issues. The car has old driver quality paint that is showing some wear. It has cracks, chips, scratches, thin paint, etc. The bumpers, trim, head light/tail light bezels, and grille are pitted and would need to be rechromed to be show quality. The windshield on the passenger side has a crack at the top inside corner. The driver side windshield is in good shape. The vent windows and door glasses are all delaminated and look to be the original glass. The original 16" steel wheels are in great shape, the center caps are decent driver quality with some dings and scratches, and the Firestone 6.50-16" bias ply wide white wall tires are in great shape. The convertible top is in really good shape and the POWER vacuum top goes up and down very smoothly. The dual Unity spot lights are both in great shape and actually work and are nice and bright. Interior: The interior is in really good shape overall. The dash is nice and all of the gauges look good. The ash tray cover is broken and has been glued back on. The vinyl front seat cover has one very small split seam, but is in great shape otherwise. The rear seat is also in very good shape. The door panels are nice. The steering wheel is in very good shape for it's age. The rubber floor mat looks newer and is in really good shape. All of the gauges work but the fuel gauge is a bit questionable. Seems like it works sometimes and other times it doesn't. The electric heater works great as well. Drivetrain: The 239 cubic inch Flathead V8 starts right up, runs very well, seems to have decent power and will move the car down the road at 60mph with no problems. The 3 speed manual transmission shifts through the gears well, doesn't get hung up between shifts, and doesn't seem to have any slip in the clutch. It has the stock banjo rear end under it. A previous owner installed a 6 volt electric fan that is operated by a toggle switch on the dash to make sure the engine stays cool. There has recently been a brand new Powermaster generator installed on the engine as well. The car has dual exhaust that runs through Hushpower mufflers out the back of the car and has a great sound. Suspension: The car has the original front straight axle, radius rods and transverse leaf spring with manual hydraulic drum brakes and banjo rear end with radius rods, transverse "buggy" spring and manual brakes out back. The manual steering feels like it has a little play in it and seems to "wander" going down the road just a bit, but I believe some of that can be attributed to the bias ply tires as well. The car really is a joy to drive. There aren't many left out there like this car that haven't been hacked up and had everything swapped out. If you have any questions or would like to see more close up photos, please send me a message, shoot me a text or call me on my cell phone at (214)682-595o and I would be happy to talk and answer any questions I can.