It is almost an inevitability that First Generation Mustang project cars will provide their owners with rust issues that will need to be addressed. These problems can range from the fairly innocuous to the pretty awful. This 1970 Mustang Mach 1 does have some rust that will need to be attended to, but it doesn’t appear to be particularly bad. The owner says that what the car needs is someone willing to work their magic on it. The big question is, could that person be you? If so, then you will find the Mustang located in Seagoville, Texas, and is listed for sale here on eBay. Bidding has reached $7,400 on the Mach 1, and the reserve has been met.

I’m not going to pretend that the Competition Yellow Mustang is perfect, because it most certainly isn’t. It would appear that it has been the recipient of some previous repair work because the passenger-side rear quarter panel has very obviously been replaced at some point. Given the amount of Bondo that has been used to disguise the weld that joins the quarter panel to the C-pillar, it does place a pretty decent question mark over the quality of this work. Having said that, the quarter panel itself looks to be in good condition, so maybe this can be addressed without the need to replace the panel for a second time. As far as what things are like below the surface, there appears to be some pretty good news. I will admit that the photos that the owner supplies are a bit limited, but what can be seen of the floors, torque boxes, the shock towers, and the frame rails, look remarkably solid. There is some surface corrosion visible, but there is no obvious rust-through. We can’t see the state of the trunk pan, but if the Mustang has spent any significant time in Texas, there is some cause to be quietly optimistic about that area of the car. There is rust in some of the bolt-on panels such as the fenders and the hood, and the owner suggests that it would probably be better to replace these rather than mess about trying to undertake repairs.

The interior of the Mach 1 is complete, but it does look pretty tired. When you look at the state of the dash pad, the fact that the carpet and headliner require replacement, and the fact that the door trims have been cut to fit speakers, the idea of simply buying a trim kit does have its attractions. Probably the single most expensive item that will require replacement is the rim blow steering wheel. This one looks like it might be beyond salvation, so the next owner would need to set aside somewhere around $700 for a replacement. There is an aftermarket radio/8-track player fitted to the Mach 1, but it doesn’t appear as though the dash has been cut to fit this. One nice bonus is the fact that the Mustang does come equipped with air conditioning.

Further, good news with the Mach 1 comes in the form of it being a numbers-matching car. It isn’t just numbers-matching, but it also runs and drives. What we find is an H-Code 351ci V8, producing 250hp. This is backed by a 3-speed automatic transmission, with the car also bringing power steering and power disc brakes to the table. While the vehicle does run and drive, the owner says that the transmission does slip out of gear. Given the fact that the Mustang retains all of its original mechanical components, it would seem to be well worth the effort and expense to have the transmission checked and repaired if needed. Retaining these original components will certainly maximize its ultimate value once the restoration has been completed. The owner suggests that as well as having the transmission repaired, the vehicle would benefit from a tune-up before it is fit for regular road use.

We see our share of Mustang project cars here at Barn Finds, and some of those cars can represent restorations that manage to go way beyond daunting. This one looks like it is a fairly reasonable one, and if the car is as structurally sound as the photos would tend to suggest, then it could be a fairly straightforward proposition. Given the fact that nice, numbers-matching examples are continuing to hold their value so well, this is a project car that could be well worth the effort.