Every project car is going to have its good and its bad points, and while the puddle of oil that you see under this 1965 Mustang looks daunting, it isn’t all bad news. This is a car that does actually run, but it will need some work to return it to a roadworthy state. It is quite nicely equipped and could be a stunning vehicle one it has been restored. The Mustang is located in Dubuque, Iowa, and has been listed for sale here on eBay. There are plenty of people who can see the potential in this classic, and spirited bidding has pushed the price along to $4,051 in what is a No Reserve auction. If the bidding manages to stay within that sort of area, this could potentially be a very affordable Mustang project.
Tackling the physical condition of this Mustang, and the owner readily admits that there is some rust that will need to be addressed. You can see some present in the trunk in this photo, and this has found its way into the rear frame rails. The owner states that these will require replacement, but doesn’t indicate whether there are any further problems with other areas of the floors, front frame, or the torque box region of the vehicle. Externally, the rockers, lower front fenders, and the bottoms of the doors generally look quite solid, but the rear quarter panels are going to need some work. There is some rust visible in the bottoms of both panels, but worse than that is the fact that somebody has decided to flare the wheel arches, and the quality of this work is pretty ordinary… to be diplomatic. I’m sure that a good panel shop could repair these, but complete replacement would almost certainly be a better option. The external trim and chrome all appear to be present, although I believe that the front bumper is damaged. Pleasingly, all of the glass appears to be free from any flaws or problems.
The moment that I saw the interior photos of the Mustang my fingers began to itch. The owner says that the trim is in good condition, and I really believe that it would pack a surprise if it was given a thorough clean. I can’t see any signs of rips, tears, or seam separation in any of the upholstered surfaces. What can be seen is a heavy layer of dirt, but a few days of hard graft should fix that problem for next to nothing. The dash and pad are unmodified and close to perfect, while the headliner is free from any problems. The interior does have a couple of nice optional areas, including a console, and the oh-so-cool Rally Pac gauges. Quick, hand me some cleaning products and cloth, because I believe that this is all that will be needed to have the interior really sparkling once again.
The pool of oil that is visible in the first photo is a bit of a disheartening sign, but it isn’t all bad news. Lifting the hood reveals a D-Code 289ci V8, which would have produced 210hp in its prime. In addition, the vehicle comes with a 3-speed automatic transmission and power steering. The owner claims that not only is this a full numbers-matching classic but that the 289 does run. He admits that there is an oil leak and that the Mustang should not be considered to be a driving proposition in its current state. However, he does say that it wouldn’t take a lot of work to get it to that point and that one of its major needs is a new fuel tank. One thing that is visible is a heavy accumulation of corrosion around the battery tray, so this will also need to be investigated to ascertain just how severe it is.
It doesn’t matter how you cut it, finding a 1st Generation Mustang for sale in a No Reserve listing is always going to make for a tempting proposition. The owner gives the impression that this could be a relatively straightforward restoration project. The fact that it is a numbers-matching car is a huge bonus, and with values on these earlier examples continuing to spiral upwards, I can completely understand why the bidding has been strong to this point.
Looks like a 64 1/2. Could be an affordable project, there’s no reserve. Plenty of bodywork needed, look at those quarters! Interior looks decent. If I was in a position to take on a fixer, this would be a contender for sure!
Is that the original color could be a goldrush car $$$$$$$$$$$$$$$
Warranty Number: 5F07D107152
Year: 5 1965 (1964 1/2)
Plant: F Dearborn, MI
Body Series: 07 2 Door Hardtop
Engine: D 289 4v V8
Unit: 107152 107152
The drivers side rear quarter is filled with bondo!! Probably an inch thick!! That means that quarter and probably the outer wheelwell need replacement!! The car should go cheep considering it’s nothing special and the amount of work needing to be done!!!
Or, someone could wait for a better one to come along. It has some desirable options, but is that enough?
Steve R
The right side one is just as bad and it looks like someone put some tin patches in the trunk floor. I can only imagine what the underside looks like . Its a 64 1/2 though, so its always going to be something the Mustang guys want. $4Gs seems like a lot for what it is IMO
Have a strong magnet to get through all that bondo!!!
I almost put a bid.
My ’68 convertible had quarter panels that looked like these when I bought it. Under the filler were aluminum patches that were pop-riveted to the quarters and wheelhouses. The same “repair” was attempted on the trunk panels and inner rocker panels.
I need a better picture of the right side of the engine. It looks like it has a generator, not an alternator on it. Also, the voltage regulator for the alternator was mounted next to the starter solenoid. The ’65’s and up, all had alternators. The 64 C-4 automatic was a dual range unit, where as a ’65 was a single range unit. Also, the ’64 had a road draft tube, if I remember right. It would warrant further investigation to determine what year it is exactly, even if the VIN tag says ’65. Just my thoughts.
I thought all 64 1/2 mustang’s were 260’s