Apart from a solitary repaint and an aftermarket stereo, this 1965 Ford Mustang 2+2 Fastback could be considered a survivor with 59,000 miles on the clock. It has no rust issues, and with its minor cosmetic shortcomings addressed by its new owner, its presentation would be first-rate. However, since those issues are insignificant, they don’t require the buyer’s immediate attention. I must say a big thank you to Barn Finder Curvette for spotting the Mustang listed here on Craigslist in Edmonds, Washington. The seller set their price at $37,500, although it appears that there may be room to move on that figure.
The seller is candid in their assessment of this Fastback. They admit that it was repainted in its original Candy Apple Red in the 1990s and now exhibits patina from age. I noted a dent in the driver’s side front fender, which isn’t severe. Addressing that shortcoming would be straightforward and would lift the appearance to a tidy driver standard. Perhaps this Fastback’s greatest strength rests in its rust-free status. Many First Generation Mustangs are victims of the dreaded tin worm, but this car has avoided such dramas. The trim and glass are in good condition, and the damage-prone wheel covers appear to be virtually perfect. So far, this Mustang looks to be a winner.
Lifting the hood reveals why the First Generation Mustang was such an enormous sales success. The engine bay houses the T-Code 200ci six, generating 120hp and 190 ft/lbs of torque. The first owner teamed the T-Code with a three-speed automatic transmission, choosing not to power-assist the steering or brakes. The mechanical specifications make it one of the least potent variants available in 1965, but also one of the most affordable. Buyers struggling to justify spending more than they typically would on something more mundane could buy into the Mustang lifestyle without breaking the bank. The seller doesn’t mention evidence verifying their mileage claim, but the Fastback’s overall condition makes it plausible. They state that the car runs, drives, and stops without revealing how well it performs any of those tasks. The indications are quite positive, but with many owners performing a V8 transplant on Mustangs of this type, I wonder if that fate may befall this car.
Trimmed in Black vinyl, this Mustang features a Sport Deck rear seat, a factory AM radio, and an underdash aftermarket stereo. If I were to mark it harshly, I would say that the slightly faded carpet might prompt the buyer to source a replacement carpet set to improve the overall appearance. The only other fault that the buyer may choose to address is the visible deterioration of the gauge fascia. This problem is common with age, but with reproduction fascias retailing for under $100, replacement would seem a no-brainer. Otherwise, it appears to have no urgent needs. The vinyl is excellent, with no wear, splits, or other problems. The rear seat plastic trim has avoided scratches that typically accumulate with age, and the dash is spotless.
Ford hit a sweet spot with its First Generation Mustang, selling 559,451 vehicles during the 1965 model year. The tally would climb significantly higher in 1966 as the buying public warmly embraced a car that perfectly combined stunning styling with affordability. That means that this 1965 Mustang 2+2 Fastback isn’t rare, which may prompt the new owner to replace its existing six with a more potent V8. If the buyer pursues that path, they wouldn’t be the first to do so. Although I prefer originality, I understand the lure of extra power and torque. Do you think this Fastback will remain unmolested, or will a new motor form part of its future?
Nicely written up on an interesting car. I think it’s value would not be helped by ditching originality and changing engines.
If the 200 generated 120 HP gross, what was the net figure? Squirrels in a cage level?
The net figure would be almost the same since there are no emission controls or accessories on this engine.
Net HP is measured with all available accessories and an emissions tune at the flywheel.
Nice ‘stang, I would leave it exactly as it is!
Having owned a ’65 with 6 cylinder and 3 speed, and a ’67 with a 390 auto, i have to say the 390 was a 1000% more fun. I’m not sure this one, in original form, will ever appreciate to large dollar value, so i’d opt to make it more enjoyable to drive. A 250hp 289 would be a game changer.
Nice Mustang but over priced for a 6 cylinder with no PS,PB or any options. For the right price it would be nice car to take to Cars&Coffee on the weekends.
Fairly clean car, but $37.5K for a six cylinder seems strong. The fender repair, paint fading (cut and polish) and trunk gap/alignment should have been addressed for that ask.
Seems high. I would at least die/replace the carpeting, detail the engine bay by painting that radiator, tend to the paint issues.
Lets see, that basket case rusty toad that had half the parts gone at 40 K presented yesterday makes this look like a deal. At least you have something to work with , before your life is up.
The price is more than a bit optimistic.
seems a bit high to me. not a fan of a bright red mustang you really stick out with this. cool that it’s a fastback though
6 and an autobox equals a fast no. Red makes it final.
I hear that so much about red Mustangs,i’m happy with my Springtime Yellow.I get a number of likes at shows.
This has suddenly reminded me of a very nice original Red and black Mustang exactly like this one except for an A-code 289 that was for sale for $650 in 1975 that I decided not to buy because it was an automatic.
Instead, later that day, I bought a fully optioned 66 GT Hardtop with an an A-code and a 4 speed, silver with a black pony interior with the wood grain trim and red rocker stripes for $550.
I sold it less than 6 months later for $1000. because the temptation was so great to buy a 4 year old 1971 340 Plymouth Duster with a 4 speed and 34,000 miles and the remaining 5 year-50,000 mile warranty. The Duster was very clean and fast and came with a set of aftermarket U.S.Mags aluminum slot mags but had a worn set of E-70-14 Goodyear Polyglas G.T.s. I got it up to 130 mph according to my speedometer on Highway 24 one sunny Sunday afternoon. I only backed of at 130 because my front tires were out of balance and were bouncing in a way that I didn’t like.
I liked how even an 18 year old like me could get tremendous bang for the buck automobile wise on the money I was making washing dishes part time in a local steakhouse after school, nights and weekends maybe 20-24 hours a week.
Good used cars were abundant and cheap and so was gas. My $6.50 an hour went a long way back then. Liability insurance with Allstate was expensive at $450 a year on my parents policy. Ladies and Gentlemen, please excuse my nostalgic maundering.
And one more thing, the A-code, 225 horse, 289 with automatic was pretty slow and sloppy. Just plain boring and dull, dull, dull to drive. My 66 A-code with the 4 speed was much tighter and a ball to drive by comparison. Of course you had to really know how to drive a stick to wring the fun and excitement out of the car. Fortunately the Mustang was light and handled well with the good set of radial tires I had. It was a little nose heavy but the gearing and traction allowed me to apply plenty of throttle to break the rear end free to power through twists and turns. Namely you wound it up and threw it into the turns hard enough to take up all the steering slop and suspension travel. The Mustang proved to be reliably predictable when treated this way. The only thing to worry about was rain, snow, ice, oil or any other loose traction events which would cause the car to swap ends if you were inattentive or drunk. I didn’t have it long enough to make engine performance upgrades but have always wanted to know what that little car would have been like with a K-code 289.
At the time I bought the 66 I was looking at a nice 66 Shelby Mustang for $2500. (Yes, you read that correctly). The only reason I didn’t buy the Shelby was that I only had $2000. and couldn’t convince the owner to be reasonable and give me a 20% discount. The nerve of that guy! I’m pretty sure that was the absolute bottom of the used Mustang and Shelby market but I was stupidly reluctant to attempt to borrow $500 from someone, anyone that I knew. $500. was a good chunk of dough to the people in my world at that time. Seems like a silly thing in retrospect. I was absolutely certain that the value of such cars was headed upwards but I lacked first hand economic experience. Being 18 years old with only written history texts and anecdotal information from conversations with older folks as my knowledge base I could not clearly comprehend what the passage of 50 years with subsequent vehicular losses would do to shape my youthful theories of long-term economics. These factors combined to send the value of nice Mustangs to the Moon and beyond thus fulfilling my youthful prognostications.
And like all Fords of that era the front end bushings made that ridiculous squeaking like there was a rat-crushing machine under the hood with an endless supply of rats. When it came to to the rubber compound of suspension bushings Ford did not have a better idea.
Even though I think $37k is pushing things a bit for a fastback with a 200 cid six and auto box, I also think this is an infinitely better deal than that $11k one that was up on the rotisserie a couple days back…
Those aftermarket instrument cluster bezels that you mentioned , are of such poor quality , that a faded O.E. one is attractive by comparison .