Never-Restored C-Code! 1965 Mustang Project

Disclosure: This site may receive compensation from some link clicks and purchases.

Parked since 1986, this first-generation Mustang fastback in Walker, Louisiana shows few signs of hot-rodding, though a low-budget color change from Dynasty Green to white detracts from survivor status. The listing here on eBay shows an honest classic that probably sat too long waiting for a “someday” restoration that never happened. At least 17 bidders hope to write a new chapter for this solid project car that hopefully involves driving down the road in the next year or two. Bidding tops $18,000 on the V8 automatic pony with about five days remaining as we go to press.

Some of the black standard vinyl interior might clean up to driver quality, but those seats definitely need some work. Ford created a new class with its Mustang, birthing the “Pony Car,” i.e. svelte two-door RWD with a long nose and short deck, that remains popular today. In fact, the Mustang may take a victory lap of sorts if Chevrolet and Dodge follow through with plans to cease production of their Camaro and Challenger pony cars, respectively. Let’s not mention the use of the word “Mustang” on Ford’s E-Mach while the traditional Mustang soldiers on.

It would take an artist’s knowledge of automotive design to find fault with the early Mustang fastback. Later Mustangs extended the fastback rearward, eventually into a hatchback, but the first generation is hard to beat. Tip your hat to the seller for including pictures of the Body Tag and at least one matching panel stamp. According to ClassicPonyCars, our feature car left San Jose, California in August of 1964, making it a very early fastback, as the first Mustang fastback bears a San Jose VIN 7,583 earlier including Falcons and Fairlanes built there. This may not add to the car’s value, but could make an interesting talking point for your car show story board.

With no documentation offered, buyers should expect that the original C-code two-barrel 289 cid V8 is long gone. Certainly the color scheme on this motor differs from stock. “Ford Blue” didn’t arrive until 1966, making the ’65’s black and gold color scheme worth duplicating, even if this isn’t the original mill. The two-barrel 289 spun a three-speed automatic transmission and the most relaxed differential gear set offered, a long-legged 2.80:1, suggesting someone wanted a V8 more for sound than fury, and there’s nothing wrong with that! Minus the color change I’d consider a minimal refurbishment on this long-parked pony. With white paint slopped everywhere, I’d have to go with a full-blown restoration, though not resolutely stock when it came to powertrain and the lack of air conditioning. How would you rebuild this early fastback Mustang?

Auctions Ending Soon


  1. Nevada1/2rack NevadahalfrackMember

    I’m with you, Todd. Black with gold, A/C, and make that engine bark a little, although howling like a Coyote would be ok too (like that Nevada desert segue?). Being non-numbers matching and needing enough work overall you might as well do it like you want it. Like my Sgt. said, “If you’re gonna be a bear be a Grizzly!”

    Like 7
  2. Yblocker

    Well, if Chevrolet and Dodge indeed do as mentioned in the story, that would be “2” victory laps for the Mustang, as Camaro and Challanger have both bowed out once before. If this was originally a 2barrel 289, it isn’t anymore, that’s a 4barrel Holley sitting there, so who knows. These first fastbacks were little beauties. I would at least restore the body to original, maybe add a little extra pizzazz under the hood.

    Like 6
    • John

      And yet another “fool and their money” car. Yeah it WAS a cool car in it’s prime and originally… What like $3000? And here now a money pit that needs EVERY bolt gone over to be something. Yeah at 20k if it was nice is still 7 X original price. But this will EASILY eat another 35k.
      REALITY people…. REALITY. Please stop paying these rediculicely overpriced buckets of work
      You can easily buy a house for less than the end cost of this. Which by the purchase and restoration will easily be over 50k . Sorry guys but the way the market is . It has all but destroyed my love of the muscle cars

      Like 7
      • Yblocker

        Apparently you haven’t priced houses lately.

        Like 14
      • John

        Yes I have and there are houses out there for under $100,000. And they’re a lot more comfortable to live in than a rusted out old mustang

        Like 2
      • Yblocker

        Only houses I’ve seen for under $100,000 have a hitch on the front, and in worse shape than this Mustang lol

        Like 12
      • Clay

        You’re comparing apples and oranges. $3000 in 1964 dollars vs what it will be worth when finished in 2023 or 2024. Dropping thirty grand in it will still net you close to 80k on BaT, maybe more. This is a valuable car and the values are only going up.

        Like 9
      • Dave

        Are you related to Howard A?

        Like 1
      • Ed

        When reality, sorry REALITY has passed you by.

        Like 0
      • Tim

        Maple Motors has a complete one in great condition for 19 k. Why would I go through this headache?

        Like 1
    • 2015 2SS

      Your knowledge of fastbacks = your knowledge of economics.

      Like 0
  3. C Force

    It still could be the original motor but with a 4bbl intake swap?using a cast iron ford intake?i had a 1972 f-250 with a 390 and a two barrel.instead of going aluminum i found a ford cast iron 4bbl intake instead.certainly keeps a “stock” appearance that way

    Like 2
    • Yblocker

      Very true, I did the same thing with a 71 F100 I had years ago

      Like 1
  4. Yuny

    i dont see a price on the car how much are they asking

    Like 0
  5. James

    I’ll just shoot this photo of the rusted out side from 20 feet away…. lame.

    Like 1
  6. Rob Jay

    Wonder where John lives that you can buy a house for under $100,000? Where I live you’re hard pressed to find one under a million and I don’t live in some swank area. But back to the car, like it or not classic car prices have gone crazy and early mustang fastbacks are near the front of the line. I just restored a 65 convertible and it will take you all of 35K to do it if you do everything yourself which I did, body, paint, everything. This one is certainly worth restoring

    Like 5
    • Grape Ape

      Seems you took the original hyperbole for a point and took it to exponential status.

      Under a million? Where do you live? Not swank?
      As an economist, do tell.

      Like 0
  7. Cherokee boll

    I love the mustangs but they have been priced out of the average person. But anyhow anyone that wants my house for a million it’s yours . It’s a nice place but a million I’ll sale it and buy a new mustang then laugh all the way to the bank.

    Like 2
  8. Dennis

    Money pit!

    Like 0
  9. Memphis

    Number one. 30 grand for a rebuild? Yeah i guess if you’re paying for all the labor. But folks a few of us do this for kicks. Why? Because we can. The mustang was nothing short of a revolution in 1965. Even the Europeans wanted one. Dude take it home. Pull the mill. Rebuild it. Put cobra repo bling on jt. Deep clean interior. Reshoot the white if its not to horrid. Gt package with fog lights.have a nice day.🙃

    Like 0

Leave A Comment

RULES: No profanity, politics, or personal attacks.

Become a member to add images to your comments.


Get new comment updates via email. Or subscribe without commenting.

Barn Finds