Whenever I see a 1st Generation Mustang that has been left exposed to the elements, I can’t help but feel the pangs of dread set in. The Mustang is a classic that is renowned for developing rust problems at the drop of a hat, but this 1969 model is a different story. It does have some rust to address, but doing so should be a straightforward process. It is located in Port St Lucie, Florida, but the owner has decided that it needs to go to a new home. Therefore, he has listed it for sale here on Facebook with an asking price of $15,000.

The Dark Blue paint that the Mustang wears isn’t original, and scrutinizing the photos reveals what appears to be Beatnik Blue below this. I sometimes wonder when someone chooses to perform a color change on a classic car because some of these choices don’t do the vehicle any favors. That’s the case here because Beatnik Blue is a pretty awesome color. Looking beyond that fact, the thing that strikes me with this car is the lack of significant visible rust. There is surface corrosion present, along with a few minor spots in the lower extremities, but there’s nothing visible that would require the replacement of entire panels. While we don’t get a look under the vehicle, the news seems to be quite positive. The owner admits that the car will need new floors, but that’s all that he mentions. It sounds like the frame rails and torque box areas could be clean, and while the single photo of the engine bay isn’t conclusive, it looks like the shock towers might also be okay. It seems like most of the trim and chrome is present and suitable for restoration, while the tinted glass appears to be in good order.

The Mustang remains consistent when you open the doors because the interior is just as heavily aged as the exterior. The front seats have been swapped at some point, while the dash pad and some of the dash components are missing. It is in these areas that classics like the Mustang come into their own. The extraordinary build numbers stood as a testament to the popularity of the Mustang when it was new. It also spawned a strong industry to produce almost every part designed to allow owners to keep their pride and joy in the best possible condition. That is why it is possible to buy a brand new bodyshell today and why interior trim kits are readily available and affordable. A kit will be what this car requires, and the price would depend on what sort of finish the buyer is seeking. Basic kits can be found for around $1,200, but a Deluxe kit with every part that the buyer needs to return the interior to a factory-fresh state will generally cost around $2,500. That might seem like a decent outlay, but it’s worth remembering that it would also represent a one-off expense. Done correctly and treated with care, an interior could potentially last for 50-years before it needs to be touched again.

The engine bay of the Mustang contains a 302ci V8, which is backed by a C4 automatic transmission. It isn’t clear whether the vehicle is numbers-matching, but if it is the original motor, it would have pumped out 210hp when it was new. With the ability to cover the ¼ mile in 16.4 seconds, there were plenty of offerings within the 1969 Mustang range that would have left this one for dead. However, all might not be lost here. The owner doesn’t indicate what sort of state the 302 is in or whether it even turns freely. It looks like it has been sitting for a while, so there is a good chance that it will require a rebuild. If the buyer isn’t planning a faithful restoration, extracting more power and performance from this engine would be a simple and relatively inexpensive proposition. There is also the option of slotting something more potent into the engine bay, so this could be an excellent prospect for a restomod build. That is a path that would offer the best of both worlds. The buyer could retain the looks and charm of a classic Mustang but wrapped around a drivetrain that would be easier and more relaxing to live with.

By 1969, sales volumes for the Mustang had dropped dramatically, but Ford still managed to sell 299,824 cars. That means that these are not a particularly rare vehicle. I generally like to see classics preserved, but the sheer quantity of Mustangs that Ford sold means that I don’t tend to tie myself in knots when I see a modified example. Whipping this car’s metalwork into shape looks like it would be relatively easy and inexpensive, and doing this would see the battle half over. That will leave the owner with the question of how to configure the drivetrain. Which way would you jump? More importantly, is this a project that you might be tempted to tackle?