Describing any classic as a bargain buy is risky, but that seems to be the case with this 1979 Mustang Indy Pace Car Edition. It presents beautifully, its interior is spotless, and it appears to feature a single reversible modification. If that sounds tempting, the seller’s decision to list it for $13,900 seems almost too good to be true. It is listed here on Facebook in Peachtree Corners, Georgia. If past sales results are a sound indication, interested parties might need to act quickly. I must say a big thank you to Barn Finder DrJohn for spotting this gem.

The roll call of vehicles chosen as the Pace Car for the annual Indianapolis 500 contains some desirable models, and manufacturers consider it a great honor. Therefore, not leveraging the extensive exposure by producing a commemorative model would be madness. Ford followed the industry trend in 1979, releasing 10,479 examples of the Indy Pace Car Edition to celebrate the Mustang’s selection. They sold exceptionally well, and with the increasing interest in Fox-Body Mustangs, tidy vehicles command impressive prices in the classic market. This one is a beauty that started life in Peterborough, Ontario, Canada. It found its way onto US soil in 2017 when the seller purchased the car from its original owner. The Mustang received a repaint in its original combination of Pewter Metallic and Black in 2009, with reproduction decals and stripes applied to give the car a showroom-fresh appearance. It has stood the test of time remarkably well, with no significant deterioration or defects. Rust can be an issue some Mustang owners face, but the first owner’s decision to have the car undercoated when new has left it rock-solid. The original wheels are as spotless as the rest of the exterior, and the lack of interior water damage confirms the glass sunroof seals are in good order.

Age and UV rays can exact a heavy toll on Indy Pace Car interiors, and it is common to find these classics with seats and plastic suffering severe deterioration. Potential buyers will find this Mustang a revelation because its presentation is almost perfect. The seller treated the seats to a retrim in their original and distinctive cloth earlier this year, while the remaining upholstered surfaces are spotless. There is no carpet fading, the dash and pad are excellent, and there are no signs of broken or cracked plastic. The original owner’s options choices are fascinating because while they selected air conditioning, cruise control, an AM/FM radio/cassette player, and power locks, the absence of power windows is slightly surprising. However, there are no aftermarket additions to detract from this interior’s authenticity.

Buyers could order their new 1979 Indy Pace Car with the turbocharged 2.3-liter four or the venerable 302ci V8 providing the urge. Ford hadn’t ventured into the world of fuel injection for its V8-equipped Mustangs when this car rolled off the line, meaning it delivers a modest 140hp and 250 ft/lbs of torque. Neither figure sounds impressive by modern standards, but it is what buyers expected from “high-performance” models at the height of The Malaise Era. All I can say to our younger readers is that if you didn’t live through this dismal period in automotive history, consider yourself lucky! This Mustang is 1-of-2,106 where the original owner teamed the V8 with a three-speed automatic transmission, making it slightly rarer than the 2,402 with the four-speed manual. The seller admits this engine wears a set of Dynamax headers and a matching exhaust, but it is otherwise unmodified. It has a genuine 65,795 miles on the clock, and with the original documentation, including the Owner’s Manual, Warranty Card, and complete Service Records, verifying the mileage should be a piece of cake. The car is in excellent mechanical health and seems a turnkey proposition for its new owner.

I referred to this 1979 Mustang Indy Pace Car Edition as a potential bargain, and the supplied photos and listing information seem to support that belief. Verifying the odometer reading should be a formality, and the spotless presentation and rust-free status suggest it has no pressing needs. Values have bucked the market trend during the past year, climbing by between 8% and 20%, depending on the condition. Spotless examples will comfortably top $20,000, but pristine cars can sometimes command twice that price. This one is $13,900, and it will be fascinating to see whether you agree with my assessment. So, over to you.