First Generation Mustang project cars with rust are common, and this Mustang is no exception. However, this particular car is not the worst that I’ve seen, and it has the potential to be restored and to become a very nice car. You will find it listed for sale here on eBay. It is located in Franklin, Indiana, and is offered with a clear title. Bidding has reached $12,900 at the time of writing, but the reserve hasn’t been met.
There are a few obvious signs of rust on the outside of this Mustang, but the quarter panels and trunk floor look to be solid. What you see in this shot seems to be the worst of the dreaded tin worm. The car is finished in Raven Black, and I don’t believe that the car has ever had a repaint. All of the exterior trim is also present, although some of it will require restoration.
The interior trim on this car is the Parchment Pony Interior. It looks as though all of the desirable components of this trim package are present, but there is definitely restoration required. The distinctive Pony wheel has a crack in the rim, but replacement wheels can be bought to rectify this. The dash remains untouched and in good condition, and the pad isn’t cracked. The front seats will need new covers, although the back seat looks like it might be okay with a good clean. The door trims will also require a trip to the upholsterer, although replacement Pony trims are also available.
Under the hood is a large part of what makes this car desirable. It features the K Code 289ci V8 which is backed by a C4 automatic transmission. The seller goes into great detail regarding how all of the major components still carry their original tags and also point out that while the engine will turn over, it won’t start. Hopefully, the solution to this will be fairly straight-forward.
The seller states that the color combination for this Mustang is rare, and it is certainly difficult to find any on the market at present. So, looking at recently sold K Code Mustang Fastbacks with the Pony Interior reveals that starting prices for nice examples is around $31,000. From there prices can push up to around $55,00 for really good ones. This one has the potential to be worth that sort of money, but its viability as a project will really depend on what reserve the owner has set for this car.
I still think Mustang’s are undervalued, you can have a lot of fun in a stang!
Over shot.
The Hurts rental was an awesome package and great color combo.
What was sad about this post, the Pony did not designated the GT option.
My 66 GT Mustang Fastback 2+2 had a 289 K code that was the 271 HP with solid lifters.
Matt……………your car was …………………….sweet. The GT option makes the appearance all the cooler. Always liked the fastback the best.
Love your Mustang! What size rims and tires? Did you need to modify the rear end or anything?
Bidding at $13,600 and rising. There’s something magical about a Mustang fastback that’s for sure, and that colour combination looks very, very cool.
But they’re for short people…..banged my head so many times getting into my 2+2……
Cool, no doubt, but considering you can build virtually any first-gen Mustang simply from a title and a VIN tag, I just don’t see the point. The aftermarket is ridiculously thorough for these cars. And they’re as easy to assemble as Legos.
looks like a 65 to me, three little chrome strips missing from behind
the doors
Fastbacks did not have chrome strips (three spears on a 66 coupe for example). Check the grill. The grill is a 66
Nice car! Wonder if Robert Urich knows
where his car is! The Crager rims really
do this car justice too. Just fix the rust,
refresh the paint and interior, and drive it
daily. Matt, I really like your GT. It reminds me of the ’67 Steve McQueen
used in Bullitt. Would make a great
model for one of my sketches.
Those are Magnum 500 rims, not Crager.
spen-sah!
I think the prices are absurd.
Prices seem high but the demand dictates what they will go for. Always been a Chevy guy but it’s hard to beat the styling of an early Mustang fastback. Torque Thrusts and a little larger tire and you really have something!
I agree, very cool car. Will be a nice project for someone who has the coin to match the current market prices on these fastbacks. Regular mustangs of this vintage are undervalued, But these command big money. The motor is a great package in this relatively light car.
That being said, these LOOK great but living with one is a different matter. They handle like S**t, Brakes are terrible, (See the little single pot master cyl? thats 4 drums all the way around and SOMETIMES they work at the same time!) Suspension is the same as early Novas, In Fred Puhns book “How to make your car handle” He outlines what a terrible defective design this is.
So, *IF* I owned it, Id bag & tag the originals and put a modern suspension & front clip under it. (Many kits out there) But preserve the exterior appearance. This would be fun to drive AND look at. It no fun driving around in a perpetual anxiety attack worried about crashing.
Nice project for someone, Just looked and $14,600 and days to go………..
Jeez…I don’t know whose beat-up POS you drove but all six of my early Mustangs, five of which have 4-wheel drums, can stop just fine. They stop straight and can lock’em up if needed. I don’t drive aggressively enough to have fade problems. Properly aligned with good shock and tire choices, these cars aren’t up to current design capabilities but I do not fear running in any kind of traffic or roads. Maybe you should just consider reskinning a modern car with vintage style metal. Many of us accept and enjoy the old ones for what they are. No anxiety here.
Well, If you dont drive them much, I suppose suburb driving to the pub wouldnt be too stressful, But we raced a fast back in the early 80s and even then got grief for making one into a race car.
But here…. For under $6.00 you can get a good primer on handling and suspension,
See: https://www.amazon.com/How-Make-Your-Car-Handle/dp/0912656468
Same author also has an excellent book on Brake systems as well. (Used copies are very affordable)
There is no proper proportioning valving in the brakes on these, and most Mustangs of this vintage I have serviced or worked on have very anemic drum brakes, with age, they rarely exert the same force on each wheel cyl and drum. (Its easy to measure, Instrumentation never lies)
The design of the suspension was never intended to be a performance application, It was conceived in the late 50s as an economical way to build modular economy cars.
The eccentrics holding the lowe control arm often deflect, and the top A Arm and spindle has a nasty cam over effect on cornering coupled with body roll and roll steer so that the tire contact patch leans over so far you have the contact area of a US .25 cent piece.. Not conducive to cornering! Physics outweigh nostalgia and rose colored glasses. Video your front end in a parking lot and do some chicanes or even circles. Zoom in on the front wheels. Anyone can see this easily.
I dont begrudge the trailer queen show crowd folks their enjoyment, But the reason I sold off mine was real world experience. But the after market has responded and many people safely and economically upgrade their suspension while preserving the exterior styling. THOSE folks get to enjoy the best of both worlds. Pleasant & enjoyable driving, as well as period styling.
If in fact there was no need or demand for upgrades, Why are there so many companies selling them? The marketplace HAS spoken! Heres one example…
See: https://www.cjponyparts.com/1964-1973-mustang-complete-suspension-kit/c/10170050/
Here is a buyers guide, Dont take my word for it. These guys are an authority on the topic!
See: http://www.mustangandfords.com/parts/1505-1965-1973-mustang-suspension-buyers-guide/
And finally,,, Mustang purists look away! Look away quickly! This will upset you and create undue anxiety!
One of my compadres decided to go racing, and grafted parts to make a Mustang competitive. (And WIN he did!)
Meister Korbs most excellent Suprang!
See: http://www.suprang.com/
(He is famous on the interwebs!)
Enjoy!!!!
Here’s a cheap one, err 3 Mustangs, make two out of three.
https://pensacola.craigslist.org/cto/d/65-66-mustangs-projects/6736693803.html
I’m fairly sure it’s not k code, the only trans available with a 289 hi-po was a 4sp. The distributor looks like a newer electronic ignition from a 80’s 302.
James Boyd o forgot to mention with my post. My 66GT w 289 HiPo had the manial 4 speed tranny. I know the T10’s were popular but mine was different.
Looks like someone has been trying to start it up with a newer 5.0 dizzy. The carb needs boiled and rebuilt, fuel lines need flushed first. Gas turns into tar after years of sitting!
By ‘66, Ford had sold over a million Mustangs. The options were limitless. Some were stripped, overs were loaded like Shelbys.
Great car with rare color and options!
Watch this K code go to the stratosphere!
I would keep it stock. Too many GT-350 clones at car shows!
auction ended early, Seller shut it down so usually means made a off-feebay deal. When auction ended it was at $24,800 and over 30 bids, So like this car or not,, it proves somewhat they are marketable and investment worthy.
Not really news…….. but id be happy with that stack of beer slips.
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