Make An Offer! 1966 Ford Mustang Coupe

It seems that even the roughest and rustiest First Generation Mustang project car can command a high price. However, sometimes one will pop out of the woodwork that will cause people to sit up and take notice. This 1966 Coupe is a perfect example of a classic worth a closer look. Its most remarkable attribute is not its overall condition, nor does its tired body house an ultra-desirable drivetrain. What makes it head-turning is the owner’s decision to provide no concrete asking price but leave it to potential buyers to make an offer. It raises the possibility that this could be one of the most affordable Mustang project cars that you will find in today’s market. Located in Kansas City, Missouri, the Mustang is listed for sale here on Craigslist. It has only been on the market for a short time, so you may need to act quickly to park it in your workshop. I have to say a big thank you to Barn Finder Gunter K for spotting this promising project for us.

The history of this Candy Apple Red Mustang is unclear, although the seller indicates it is a one-owner vehicle. Unfortunately, the photos and listing text leave us wanting for more on the question of the car’s structural integrity. If we consider the subject of rust as our starting point, things look pretty encouraging. The Coupe isn’t rust-free, but its external issues appear minor. Spots are appearing in the lower front fenders and door corners, but they are small enough for the buyer to address with patches. I can’t see any significant issues with the rockers or lower rear quarter panels, so the news is positive to this point. The engine bay shots reveal plenty of surface corrosion, but the shock towers and battery tray appear sound. The seller supplies no information on the floors, frame rails, or torque box region, meaning we’re flying blind on that area. Still, if the buyer scores the car cheaply, that leaves room for splashing a bit of cash on repairs before the project’s financial viability becomes questionable. The panels sport a few dents and marks, while some of the chrome has seen better days. The Mustang is complete, and a closer inspection may reveal that many trim pieces are salvageable.

I initially said that this Mustang didn’t house the most desirable drivetrain offered in 1966, and the reality is that it is the least potent. Lifting the hood reveals a 200ci six-cylinder engine that produced 120hp in its prime. Bolted to the six is a three-speed automatic transmission, with this combination allowing the Mustang to cover the ¼ mile in 19 seconds. The photos suggest that it has been sitting for years. Therefore, returning this classic pony car to a roadworthy state will probably take more than a weekend’s tinkering in a home workshop. If the next owner craves originality, they will likely be attracted by the car’s numbers-matching status. Many of these six-cylinder versions received transplants during the 1970s, with owners giving the original motor the old “heave-ho” and slotting in a V8. That fate may await this Mustang, but I wouldn’t be surprised if the next owner performs a faithful restoration. It would be a prime candidate for that approach, although a restomod path may also prove a tempting option. It will depend on personal taste, but it represents a blank canvas to the new owner.

When you consider the Mustang’s external state, it is no surprise to discover that its interior has seen better days. Once again, it is complete, although items like the factory radio now reside in the trunk. There’s no hiding the fact that a total retrim is on the cards, but the parts are readily available and affordable. A kit returning this interior to its former glory will cost the buyer around $1,500, although a “Pony” kit would add a further $500 to the total. The second option would make the interior “pop” and is one I would find difficult to resist.

It is rare to find a First Generation Mustang project with no asking price. The seller’s decision to leave it to the market to determine the sale price is brave, but it could see him achieve a higher price than initially envisaged. It also raises the possibility that someone could score this classic for a song. Having seen what it offers, what would you be willing to pay? Are you prepared to tell us, or are you going to play your cards close to your chest and make an offer? If you do, I wish you luck.