What could this rear end noise be?

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Hey all, looking for some help. Looking at buying a 2003 Mustang GT (RIP to my 1994 GT). Test drove it last night, really liked the car overall, brand new clutch and the works. Only main concern; when driving it, my buddy and I heard what sounded like either a dragging, or rubbing noise coming from the back passenger side wheel area. Could have been a grinding but didn't sound too much like one. Worth mentioning, the brake rotor on that side was warped, while the other side was smooth. I wondered about a caliper drag, the seller wondered about an axle bearing. Not sure on either, which one makes more sense? Dad wondered if the whole rear end was going out, could that be a possibility as well? Thanks!
 
I concur.

Any of those are possible, esp. with it being a performance car that's probably had the snot driven out of it.

Best way to know is to get a pre purchase inspection before considering purchasing.
 
Gotta take it apart to see. Could be stuck caliper, dried up caliper bolts, e brake, bearing/hub, etc. How old is the seller? Carfax? Why would someone sell with an obvious problem if it was a cheap quick fix? Agree the noise warrants a inspection. Deduct whatever is found in the inspection.
 
Seller is actually a guy I know, and he owns a shop here near me, he got the car from one of his customers and never had the intention of keeping it. He's having one of his mechanics rip into it today before I take him any cash.
 
I had my old Mustang do that. I thought it was an axle bearing. Turned out to be a carrier bearing. I ended up going through the whole rear end and doing the bearings seals and new axles. $700 later I had a nice quiet rear end.
 
Not uncommon for a Rickie-Racer type Mustang owner to pull a curb-shot at some point. It's more common than you might think so I'd also have him check the axle run-out.
 
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