289 V8 Fastback: 1965 Ford Mustang GT

Everyone knows the success story of the Ford Mustang, Lee Iacocca’s brainchild that launched the “pony car” revolution in the mid-1960s. In its first 2 ½ years, Ford sold more than 1.2 copies of the Mustang, making it one of the biggest new car launches ever. This fastback came equipped as a GT, so it has a little more cosmetic and mechanically pizzaz. A restoration has already been started with the mechanical side of the car, leaving much of the remaining work to the body. Located in Gilbert, Arizona, this Mustang is available here on eBay where the auction has reached $14,000 but the reserve has not.

Between the “regular” and luxury fastbacks for 1965, Ford built 77,000 of these Mustangs, with more than 15,000 going out the door equipped with the GT option package. Said group of features included quick-ratio steering, front disc brakes, chromed dual exhausts tips peaking through the rear valance panel, a new grille bar with built-in fog lights and GT-specific instrumentation. For an extra $150 you got all that along with GT badging and lower body striping.

Let’s start first with the mechanical side of the seller’s Mustang. It’s an original GT with a 289 V8 and 4-barrel carburetor that looks to have been recently gone through. The carb is the Edelbrock brand and the engine is paired with a 4-speed top loader transmission. The clutch is likely to need work as the seller says it shudders going into first gear. The back half of the dual exhaust system is new in addition to the fuel tank. The suspension up front has been worked on, such as the shocks, but the seller tells us other components need replacing without naming them. Wondering, though, is that a generator or an alternator on the right side of the motor? That would indicate if this is an earlier or later ’65 Mustang.

The original interior is a bright spot for the most part. The upholstery and door panels largely look good, although the dash pad is warped. The black carpet is faded and worn out and will need replacing. The body is where the real problems begin. The rear quarter panel is badly rusted on the passenger side and we don’t see enough of the driver’s side to make a comparison. However, there’s a dent in the driver’s door and the hood has been replaced with one of another color. The paint is pretty faded and looks to have once been Poppy Red. There are places on the chassis where the rust bug has been chewing, too.

Ford’s “later” 1965 Mustangs benefitted from a few changes over the ones sometimes referred to as 1964 ½ models. The 170 six was out in favor of the 200. The 260 V8 was gone to be replaced by the 289. Generators were out and alternators were in (see my comment above). More than 55 years after the Mustang caught sales fire with the public, many of them can be bought and sold in the mid-five figures. Fastbacks and convertibles go for more than hardtops. This car’s restoration is off to a good start, unless the rust is worse than it appears.

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Comments

  1. calfcanyon Member

    It’s a power steering pump on the drivers side, and an alternator on the passenger side…..no generator on either side….

    Like 3
  2. Frank Farrell

    Did a car of this vintage come with front disk brakes? All the Mustangs I’ve worked on had drums.

    Like 4
    • Steve R

      Mustang GT’s of that era came standard with front disc brakes.

      Steve R

      Like 3
    • gary e ivey

      the gt package gave you disk up front

  3. StAnger fsn

    States work performed on engine, shocks and exhaust. The pipes have many miles on them and shocks look Old.

    I wouldn’t bet on rebuilt due to being painted.

    Like 1
  4. JW454

    Hey Russ, 1.2 copies? That’s not very many. How did they sell that .2 one? LOL Sorry.

    Like 6
  5. Maestro1 Member

    I’ll take the Corvette on the trailer if I had the room.

    Like 2
  6. its1969ok

    It doesn’t look like the front fender badges are the “High Performance 289” badges.

  7. Steve Clinton

    $14,600 for this used up Mustang and the reserve’s not been met? What is wrong with people…I just don’t get it.

    Like 3
  8. Mike Featham

    This is a ’66. The dashboard is a 66.

    • DaveM

      ‘65 GTs had the round gauge cluster.

    • stu

      This car is put together piece by piece to make it look complete…

  9. Daniel Gavin

    I agree with Steve Clinton……I don’t get it also…..stupid $$ for a ton of work.

    Like 2
  10. Paul S

    A little too much money for all the work that it needs, but I can see that the car has disc brakes on the front. The body is rough and the interior needs to be gutted. Good luck selling her.

    Like 2
  11. Mike61

    I kinda thought the Mustangs had leveled off $$ wise. Aside from the satisfaction of restoring one, time you pay $15K for one like this, then spend another $10K-$15K restoring it, that’s all money in my opinion. I’m sure others will disagree…..

    Like 1
  12. Ralph

    1.2 copies sold? No wonder everyone wants an arm and a leg for used up rust buckets. (build the wall!)

    Like 2
  13. Jon

    Crazy or not … I think it could it could sell for up to $20k no prob as is… It’s an original, factory 289 w/4 speed, 1st Gen, Fastback GT.. cmon guys

    Like 3
  14. EPO3

    The newer dash cluster would make it a alternator I’m just guessing

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