No Reserve: 1966 Ford Mustang 289

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Finding an affordable First Generation Mustang project, especially one that appears solid and not begging for rust repairs, can be challenging. However, that seems to be the story with this 1966 Coupe. It presents well and could serve as a driver-grade classic. One notable issue requires immediate attention, but its other minor shortcomings could be addressed as time and circumstances allow. The Mustang is listed here on eBay in Panama City Beach, Florida. It has attracted a single bid of $7,000 in a No Reserve auction.

This Mustang is not the most spectacular to appear on our desks at Barn Finds, but I think that’s why I like it. It is subtle and restrained, suiting an enthusiast wishing to “fly under the radar” with their classic. Its Wimbledon White paint shines nicely, with no evidence of significant problems. The panels are straight, but this car’s strongest point could be its lack of apparent rust. None is visible in the supplied photos, and the seller doesn’t mention any in their listing. The chrome and glass look excellent, with the car retaining its factory steel wheels and hubcaps. If this beauty is as rust-free as the photos suggest, the new owner can safely leave their grinder and welder tucked away in the cupboard.

The “driver-quality” theme continues inside this Mustang. The upholstered surfaces are free from wear and damage, although the seatcovers have some slight stretching. The carpet is excellent, as are the gauges and faux woodgrain pieces. It is nicely optioned, featuring air conditioning with a new compressor, an AM radio with a new speaker, and a factory console. The dash sports a new pad, and the seller includes a new headliner and other parts for the buyer to install. They will need to source items like a glovebox bin to complete the interior, but it appears it will take more time than money to improve the overall appearance.

The Mustang’s drivetrain combination brings us a “good news/bad news” scenario. Its engine bay houses a numbers-matching C-Code 289ci V8 that produced 200hp in its prime. The original owner left shifting duties to a three-speed automatic transmission, with power steering further reducing driver effort. With a ¼-mile ET of 16.6 seconds, it may not have been lightning-fast, but it provided the wonderful V8 bass rumble and the ability for the owner to squeeze more ponies from the motor to the road. The seller says they treated the car to a recent front-end rebuild while adding a Petronix Flamethrower distributor, an Edelbrock carburetor, power disk brakes, a NAPA radiator, and a new power steering pump. On the negative side of the ledger, the car ran and drove well until last week when an oil pump failure laid it low. It is unclear how long the engine ran following the failure, but if the seller shut it down fairly quickly, a new oil pump might be all that’s required. This is a case where potential bidders need to carefully weigh the risks before committing their cash.

Provided the oil pump failure hasn’t caused any deeper engine damage, this 1966 Mustang could be a fantastic project car. If potential buyers seek a first project that shouldn’t involve complicated rust repairs, it must be a strong contender. I’m surprised it has only attracted one bid at the time of writing, although there is still time for that situation to change. If you are searching for a Mustang, would you consider pursuing this one further?

Auctions Ending Soon


  1. Midway

    The v8 ford’s were known for blowing out the oil filter element from a failed check valve in the oil filter manifold. If motor was shut off when oil light illuminated this will be a good deal for under 10K but it ain’t over til it’s over

    Like 3
  2. Chris

    Meanwhile the truck photo was omitted from this article showing rot and rust cancer

    Like 3
  3. gary englert

    Are there any pictures of the underside off car, if so please forward them

    Like 0
  4. Fred

    With an oil pump failure, this purchase could be opportunity knocking.

    Like 4
  5. Eric Lloyd

    Piece of a valve seal jammed the pump ? If the oil pump drive looks like a drill bit it is a good place to start

    Like 1
  6. Matthew Dyer

    Hmm… New distributor installed, followed immediately by an oil pump “failure”?
    Am I the only one?

    Like 5
    • Kevin Kauffman

      Might not need to look far for any missing parts.

      Like 0
  7. Paul S

    Where are the door sill trim (both sides) was this a repaint. And what’s with the mix of carpet and scraps in the trunk?

    Like 0
  8. Jackie Hollingsworth

    I would be careful with this one…Just saying.

    Like 2
  9. Johnmloghry johnmloghry

    Be careful, be cautious, don’t buy. These comments are all unproven hypotheses. Just guessing as to problems, no one knows until the engine is checked out. One guy commented about rust issues again you don’t know until you’ve seen it in person. If you don’t want the car fine, but leave your unproven diagnosis to the person who actually goes and looks at the car.

    God Bless America

    Like 6
    • Matthew Dyer

      When people share their thoughts and opinions, it is called a discussion. Thanks for yours.

      Like 4
    • Kenneth Cunningham

      To owner:
      Does the car have rust or repairs for rust ? Has it been repainted anywhere on body or frame ? Has it been in any accidents ? Has the engine been harmed from oil pump failure and how long did you run engine when failure of oil pump ceccured ? Does it run ?

      Like 1
      • Paul S

        All very good questions

        Like 1
  10. Brian

    If it’s a solid car 7k isn’t bad. Small block Fords aren’t hard to find.

    Like 0

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