While it needs some rust repairs, this 1967 Ford Mustang is a structurally sound classic. It has been parked for more than 20-years, but it seems to be none the worse for the experience. The owner has decided to cut his losses and part with the car, so he has listed it for sale here on eBay. It is located in Stantonville, Tennessee, and steady bidding has pushed the price along to $3,800 in this No Reserve auction.

The Mustang is a sorry-looking sight, and I don’t believe that the Red paint that it wears is original. I can see some glimpses of Blue in a few spots, but it is impossible to be sure what it is. There is some significant surface corrosion, but there is no evidence of penetrating rust when you look at the panels. All of the usual trouble spots appear to be clean, and the story is similar when we take a look underneath. The floors will need work, and the best solution here would be to bite the bullet and replace them. This is a common fix, and floor pans are not expensive. That would appear to be about all that it will need because the frame rails, inner rockers, and torque box regions look good. There is surface corrosion down there, so I’d be inclined to media blast and treat the Mustang’s underside while doing the floors to ensure that the corrosion doesn’t get a chance to graduate to full-blown rust. Some of the trim will need to be replaced, but the glass looks quite reasonable.

The seller believes that the Mustang could be numbers-matching. It comes equipped with a C-code 289ci V8, a 3-speed automatic transmission, and power steering. The little V8 would have been producing 200hp, and in this guise, it would have been capable of sending the Mustang through the ¼ mile in 16.6 seconds. That’s not startling, but it doesn’t necessarily need to stay that way. Squeezing extra ponies from these V8s is not that difficult, and the parts required remain easy to find and affordable. A better intake and carburetor, along with a more aggressive camshaft, could easily push that figure up towards 240hp. That would make a low-15 a possibility while still leaving the owner with a civilized daily driver. It should be no surprise that after 20+ years of inactivity, the Mustang doesn’t currently run. We don’t even know if the engine turns freely, but given the current bidding range, it will probably be a bonus if it does.

The interior is an interesting proposition because most of the White upholstery doesn’t look that bad. It does need a deep clean, but I suspect that doing this will provide satisfying results. I can’t spot any rips or tears in the seats or other soft trim, while the headliner is excellent. The dash pad is slightly stretched on the passenger side, but I think this could be fixed. The gauge cluster is missing, the painted surfaces need a refresh, and a new carpet set wouldn’t go astray. It seems that this is an interior that requires more time than money, and that’s never a bad thing with any project. One positive with this car is that the original owner ordered it with air conditioning. The compressor has been removed, but the rest of the system seems to be complete.

There’s no doubt that if the bidding on this 1967 Mustang stays within its current level, this could be a very cheap project. The car has some problems, but none of them is insurmountable. It is true that from a sales perspective, the 1967 model year paled when compared to the previous year. However, with 472,121 cars rolling off the line, it could hardly be classed as a dismal failure. Even though they were built in such huge numbers, they remain just as popular today as they did when they were new. That means that they are keenly sought, and good examples can still command prices over $25,000. With those figures in the back of your mind, it would seem that restoring this Mustang could make sound economic sense. That has to make it a tempting proposition for any enthusiast.