289/5-Speed: 1967 Ford Mustang Fastback

The owner of this 1967 Mustang Fastback is pretty candid about its condition and needs. He says that it has been sitting for years and that the buyer will need to budget for a total restoration. It seems to be a relatively solid classic, and the mechanical upgrades that he has performed should allow it to run a bit harder when it returns to active duty. If all of this intrigues you, the Mustang is located in Anaheim, California, and the owner has listed it for sale here on eBay. He has set a BIN of $32,000 for this project car, and the interest that it has generated has prompted 154 people to watch the listing.

There’s quite a bit to unpack with this Mustang, and while it has its bad points, there are some good ones to provide a welcome balance. It rolled off the line in September of 1966 wearing Dark Moss Green paint and was dispatched to a dealership in Fort Worth, Texas. It isn’t clear how long it spent in that location, but if it has split its life between there and its current location, that is some positive news for potential buyers to consider. Both areas feature climates that tend to preserve classic steel, and it may help explain why its rust problems appear to be pretty minor for a 1st Generation Mustang. Externally, the lower extremities look pretty clean, with one possible spot in the lower corner of the passenger door the only issue of note. When we delve below the surface, we come face-to-face with the worst of this car’s problems. The floors look crisp, and there are a few holes. However, the frame rails and torque box regions look clean, while the same appears true of the shock towers and cowl. Just when you thought that you’d gotten off pretty lightly, I have one further issue to consider. Somebody has treated the car to a repaint at some point, and the kindest thing that I can say about the quality is that I suspect that they might’ve applied it with a new brush. It’s pretty patchy and horrible, so I guess that the buyer will be faced with plenty of sanding and other preparation to provide the next coat of paint with a decent surface on which to adhere. While performing all of that sanding, they might want to investigate the rear quarter panels for problems. It looks like they both may hold their share of Bondo, and it would be interesting to know what this is hiding. Otherwise, the chrome and trim look restorable, and I can’t spot any flaws in the tinted glass.

The listing for this Mustang gets confusing when you look at the model and features listed under the heading. This indicates that this car is equipped with a 428ci V8. Then again, it also lists a K-Code, that it is both a ’68 and a ’69 model, and that it is also a convertible. I guess that there’s nothing quite like covering your bases! The Marti Report and VIN tell a different story. Both verify that the Fastback rolled off the line with a C-Code 289ci V8 under the hood, and I believe that this engine remains in residence today. It also shows the car as being equipped with a three-speed manual transmission, but that is something that the owner has changed. That 289 would’ve produced 200hp in its prime, which was sufficient to send the car through the ¼ mile in 16.2 seconds. However, with the owner’s upgrades to the intake, carburetor, ignition system, and air cleaner, it would be reasonable to assume that the power output had increased before the owner parked the car. As well as the engine upgrades, the three-speed transmission has made way for a five-speed unit, while the original rear end has been given the flick in favor of a 9″ Locker. When you piece it all together, it makes this a pretty bulletproof drivetrain. That doesn’t mean that the buyer will slip behind the wheel and drive off into the sunset. The owner admits that it hasn’t run for years and that someone will be faced with the task of reviving this beast. It’s probably going to be a fiddly process, but it will have its own reward the moment that sweet little V8 coughs into life once again.

This Mustang has produced a few surprises so far, and this trend continues when we turn our attention to its interior. I’m not going to pretend that its condition is show-quality, but it is far better than I expected. The upholstered surfaces generally look pretty good, with only some small marks on the driver’s seat likely to cause concern. I’d be willing to bet that the owner installed a new carpet set not long before he parked the vehicle because it remains free from wear and fading. On the downside, the trim is missing off the passenger side door, the rear trims have been cut to accommodate speakers, and you have to wonder what horrors the dash cover might be hiding. If the buyer is forced to replace these items, there’s a good chance that this interior would look impressive for less than $1,000.

This 1967 Mustang Fastback proves that we shouldn’t judge a book by its cover. It looks tired and neglected, but it seems that its appearance is deceptive. The lack of significant rust is an enormous bonus for potential buyers, while the updates to the drivetrain hold the promise of lively performance once the vehicle returns to our roads. The state of the interior is the icing on this cake, and this all combines to make it appear like a promising project. The BIN price could be a sticking point for some buyers because it isn’t cheap, and the next owner will know in their heart that no matter how faithful their restoration is, this can never be a full numbers-matching classic. My instincts tell me that the owner is over-reaching in this case, but with the way values are climbing, it is possible that one of those people watching might hit the button. Of course, you may choose to beat them to the punch. If you do, I’d love to receive ongoing progress reports on the project. I think that the end result could be a pretty special car.