Early V8 Pony: 1964.5 Ford Mustang

Like so many other cars, early production Mustangs command extra interest from enthusiasts due to a few details that set the first ones of the production line apart from later cars. This is a rare 1964.5 model that has emerged from long-term barn storage with all of these key details still intact, and despite some rust issues to sort out, it deserves restoration. Find the Mustang here on eBay with bidding just over $1,500 and the reserve unmet.

If we put aside the 64.5 designation for a minute, we can see this Mustang is a pleasingly complete example despite being a claimed barn find by the seller. the interior looks move-in ready, and the seller notes the factory AM radio and Rally Pac gauges remain installed. I can’t even see any major rips or tears to the upholstery, and even the dash looks great.

The Mustang features the optional 289 V8, otherwise known as the D Code, which put out a respectable 210 b.h.p. One of the key giveaways that this is a 64.5 and not a later car is the presence of a generator instead of an alternator, visible here on the left side of the engine. The seller notes the engine does run with an external fuel source, as the tank has a hole.

Rust is the biggest enemy to this car, as it was parked sitting on a dirt floor. The seller says you can expect to replace the floors, quarters, and rear frame rails. As I’ve been considering a project with frame rot, it’s somewhat encouraging to see an otherwise decent car like this Mustang get another shot at living again despite the rust damage to the frame.


  1. Djs

    I am almost sure it’s not a true 1964.5 due to a 64.5 had a 260 v8 not a 289 but it could be a swapped out 289 . But still might be a fun car show driver . I own. 65 and have read up on the early models .

    Like 12
    • Rattlehead

      i’ve seen another, in the late 80’s as a young gear head my best friend’s parents had one and the old man bragged on it being a 64.5 and factory 289. i was not an export then or now but didnt look modified in any way.

      Like 3
      • Dave

        Is it possible that very early cars had the 260 but after a certain date changed over to the 289?

        Like 3
    • Classic Steel

      Definitely a 4.5 with shark gills near grill.
      The 1964 5F is 260 v8 using posted vin

      A 5K is hipo 289

      To get engine validated drop the starter and get the serial number of block .

      I am trying to recollect an uncles California 64.5 pony with a 289 hipo 4 barrel auto

      What engine did the 1964 Mustang have?
      Towards the end of the 1964 1/2 Mustang production period, performance driving enthusiasts could purchase a dominant 289ci / 4.7L engine that could put down an impressive 271 horsepower. Additionally, buyers had a choice between three and four-speed automatic and manual transmissions

      So drop the starter and increase your sale value and validate your engine

      Like 15
    • Jeffry Harris

      Not so, 260 and 289’s were offered, this car was built April 64 the month the cars went on sale, this one looks to have been built before the public could buy one. Rustyyyyyy, look at the rear wheel openings, didn’t come off the line like that.

      Like 2
      • Terry J

        In 1964, an intermediate performance version of the engine was introduced with a four-barrel carburetor and 9.0:1 compression, rated at 210 hp (157 kW) at 4,400 rpm and 300 lb⋅ft (407 N⋅m) at 2,800 rpm.

        The engine was an option on the 1964 1/2 Ford Mustang and was known as the “D-code” from the letter code used to identify the engine in the VIN.[2][3]

        The D-code engine is relatively rare, as it was only offered as an optional engine in the latter half of the 1964 model year.” Terry J

        Like 2

      I thought the same thing. I think Mercury advertised it as Cyclone 260. Remember the Comet “1000,000 miles at a 100MPH on the banks of (I think Daytona International speedway) I guess I’m showing my age.

      Like 2
    • shanahan

      I think they sold so many Mustangs that they ran out of 289 and had some 260’s in a warehouse…Bought a beautiful ’65 coup with a 4 speed around 1981. It was low mileage but not running. Anyway we got it running and I took it through the gears a couple of times and that loosened up the drive line. Sold that and went back to Corvettes.

      Like 2
    • mustang86svo

      DJs, As the owner of a D code I can assure you it is. Any generator car with any of the engine options, D, F or U is definitely a 64.5. if you ordered a 2 bl, you got the 260F, however if you ordered a 4 barrel you got the 289D

      Like 1
    • Heath

      Know they did come with D code 289 4v right away as I have one built 10D (apr10/64) with D code engine.

  2. C Carl

    D, U and F code mustangs are considered 64 1/2
    I use Duff beer to remember that.

    Also, 64 1/2 have a GEN light on the dash. 65 has an ALT.

    Like 18
  3. Little_Cars

    Wonder how much filler is in those front fenders to obscure the panel crease running back across the doors?

    Like 6
    • redwagon


      I knew the sides looked odd to me and now I know why!

      Like 3
  4. TimM

    Lots of work changing quarters and rear frame rails!! Hope it gets saved by someone!!!

    Like 2
  5. JoeNYWF64

    It’s an early stang because of the falcon horizontal speedometer.
    I see 5 lug nut wheels, but i am not sure if they are the ultra rare odd 5 lug hole 13!!! inch wheels fitted to the earliest stang v8s! The original tires would have been extremely narrow bias plies – not what i would want to test going over grooves, tryin to change lanes at high speed on an expressway.
    1st early stang i seen with body side molding.
    I’d rather see oil pressure & ammeter gages in the rally pack, instead of that silly you know what. lol

    Like 5
  6. Stangalang

    Yep there’s a lot of mud in there so they couldn’t reshape the fender crease..probably got mud in other places too

    Like 6
  7. junkman Member

    Take off a valve cover, 260 has a O embossed in the casting, 289 has 289 in the casting.

    Like 2
  8. pat gill

    now I know very little about Mustangs but I seem to remember the 64 1/2 had different seat runners?
    When I was a salvage dealer I had to store a fully restored but reported stolen and stripped for parts 64 1/2 for an insurance company,the car had been stripped of all it’s unique 64 1/2 parts, very carefully without even chipping the paint and it was found by the owner quite close to his home……… very suspicious, he was trying to buy the car back from the insurance after getting a payout………

    Like 8
    • Pete in PA

      IIRC the passenger side seat was not adjustable on 64.5s

      Like 3
  9. Pete in PA

    As a teenager I “worked” in a small, rural salvage yard in SE PA. The yard owner had a passion for Mustangs and bought every one that he could. At some point I got interested in data plates, fender tags, etc. and went through the yard looking for anything of interest. I found it. A 64.5 Mustang that, according to the door tag, was built on the very first day of Mustang production. March 9, 1964 and the VIN ended with 100255.
    The car was otherwise uninteresting except possibly the 64.5-only color – Guards blue IIRC. White interior, 170 inline 6, 3-speed manual trans, AM radio, heater.
    It was a rusty mess but I knew that the car was worth preserving and begged the yard owner to hang on to it. I came home from college at holiday break and the car was gone. Crushed.
    I still have pics of it and the data I copied from the door tag but that’s all that remains.

    Like 6
  10. Steve P

    My kind of classic, I was 15 when this pony was manufactured. Unfortunately I don’t have the facilities or money to put this one back on the road, but I do have lots of time!

    Like 2

    😲i was a part’s runner at CHAFFEE FORD 1964. the day they came out i helped unload the transport truck. I drove all of them 2 the get ready area in bodyshop
    1 i remembered the most. White with red interior convertable 4 sp rally pac & 289 on front fenders. I almost got fired because i took it around back 2 washington ave & pedal 2 the metal
    Somebody on the block turned me
    In. The only reason i didn’t because
    Bob May the manager said i was the
    Best runner he ever had, after 30yrs with Ford. That didn’t stop me or all the mecanic test drive’s. We moved r test
    2 Jefferson ave. No more problems.
    I deliverd part’s 2 Carrol Shelby’s shop
    In south bay, 4 a while We delivered a few new
    stang’s 4 a while. But it stopped when he
    Got so busy. He started 2 have them delivered directly from ford 😎

    Like 8
    • Steve P

      Very cool history David

  12. Del

    wow. Never knew Mustangs were that interesting. lots of info here

    Like 2
  13. stillrunners stillrunners Member

    The 13″ 5 hole wheels are only rare on a Mustang…..they came a lot on the prior years Fairlane’s……..

  14. mustang86svo

    Just because it rare doesn’t mean it should be restored. Ford made a million of them and A coupe in that condition is only worth the sum of it’s parts.

  15. mustang86svo

    Anyone else notice the absence of the rocker molding that came with the decor package that deleted the side scallop and added the pinstripe and rocker molding?

  16. Paul

    As much as a like early Mustangs….the coupes are never worth restoring unless they have a very solid body….restored coupes don’t bring the resale money like convertibles or sport roofs….you are always better off buying one completed or almost completed, unless you have sentimental reasons for restoring a certain coupe body!
    There are so many others out there that are such good buys in much better condition that there is no reason to wast time and money on this one!

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