Not Fast Yet: 1965 Ford Mustang Fastback Barn Find

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A true barn find, this 1965 Mustang fastback (or 2+2 as they were called) seems pretty solid at first glance, but I’m not sure if the car is just teasing us. New Lebanon, Ohio is where this car is waiting for you, and it’s for sale here on eBay with bidding up to almost $13,000 and the reserve isn’t met yet. There’s not a lot of time left in the auction, either.

Being a Mustang fan from way back, this car caught my eye right away. It’s in Caspian Blue according to the seller, and I think the color would be beautiful if the paint were in better shape. I also like the raised white letter tires and rallye wheels. The car looks darned straight, and even though it’s difficult to determine if there is rust or not, I’m hoping it’s as solid as it looks.

The seller does include one picture of  the underside, and there’s enough rust here to scare me somewhat, but at the same time it doesn’t look horrible. Of course, every panel you could think of is available if you want to do the work.

The interior looks used but inviting. And what’s this I see around the steering column? That’s right, this is a genuine “Rally-Pac” car, with the much coveted tachometer and clock, possibly even fitted from the factory (there were different factory fitted versions as well as one you could have your dealer install).

This is supposed to be the original 289 cubic inch V8. Unfortunately, it’s in non-running condition at the moment. This is where I came to a decision in my mind; if I had this car, I decided I would buck the current trend to restomod these Mustangs and restore this one completely stock. What a surprise! You might have the only “stock” early Mustang in your local club? What would you do?

Auctions Ending Soon

Comments

  1. Al D

    This one looks promising. Early fastbacks are fast becoming unobtanium with basket cases being salvaged for their roofs to convert coupes. The underside doesn’t look bad, although I’d like to see a couple more specific places. The rest of the car looks un-butchered and original. If I didn’t have one already, it would be tempting.

    Like 1
  2. Jim

    Twenty years ago, this was the car I had to have. Get it running and drive. Now I see these and think anything short of a full resto or restomod would be a disservice. Granted a lot happens to these cars in twenty years but I think even more happened to me. Knowing now I have a better understanding of the task ahead. Call it wisdom if you want, but I wish sometimes I had that exuberance of the past. Super Nice Find!

    Like 0
  3. Fred W.

    Will go pretty high. Even with a little rust here and there, which this probably has, it’s preferable to an expensive, non OEM aftermarket body. And comes with a lot more parts.

    Like 2
  4. mark

    I understand completely how these old Mustangs continue to go up in value. I am currently renting a 2017 Mustang fastback. It’s little Ecoboost turbo’ed 4 banger puts out 300HP. It handles well and is comfortable to drive, full of creature comforts. Unfortunately, it’s also packed with more sensors and gadgets than the Space Shuttle. The steering wheel alone has 20(!) buttons. I’m sure there’s a separate computer for everything. I cannot imagine this vehicle ever becoming a “full-on restoration” 50 years from now. I suspect we will see the pre-computer era of automobile design as the Golden Era, never to be equaled, much less exceeded. At least until we have a flying car or one of those personal jet packs we were all supposed to have by now.

    Like 0
  5. Jay E.

    Wow, what a nice barn find. I’d drop a modern procharged V6 and auto trans in it and have 450 HP with no weight penalty (all for less than 10K). Performance would be stunning. Great color, I’d leave it like it is, right down to the interior and just enjoy it… Wonder what it will go for.

    Like 0
    • jdjonesdr

      The reserve was 13K. I’m pretty sure it’s not going to go for that. Wouldn’t it be a hoot if I won it with that?

      Like 0
      • Bill McCoskey Bill McCoskeyMember

        Sold for $14,612.00

        Like 0
  6. JW

    Well I like to modify my cars for personal taste and reliability but this barn find should be restored to it’s original state. great find !!!

    Like 0
  7. Wayne Thomas

    So want one of these with a Navigator V6 EcoBoost engine just to be fast and different.

    Like 0
  8. James

    I bought my first 65 Mustang Fastback in almost identical condition for $150 back in the late 70’s. Dozens of Mustangs later, I still like the look and the car. That’s a maroon 65 fastback in the background of the pic below undergoing a nut and bolt modification. This blue car is a fairly solid version that would make an easy restoration. I have no problem doing a little modification and customizing on these. Coupe’s are fair game because of their lower value and semi-boring look. Here is my latest coupe with a twist.

    Like 0
  9. Don

    Hard to believe it still has single exhaust.

    Like 0
  10. erikj

    Please don’t resto-mod this one. Resto mods are getting boring,except for the builder. I love to go to shows and pass the resto stuf to see something original looking. I hope this one is kept stock looking.

    Like 0
  11. Doug Emde

    If I were to buy it, can someone recommend a restorer to bring it to original condition? Estimated cost and time?

    Like 0
  12. DrinkinGasoline

    This one looks pretty solid and should be restored. IF it were NOT all that solid….I’d have to GT350H clone it ! Pull the 289 for future rebuild and gently settle in a 331 Stroker with a 4-speed. Appropriately gear the differential (goes without saying). Would still be a decent buy at 15k.

    Like 0
    • DrinkinGasoline

      I lean towards SBF’s…Easy to build on the cheap for solid performance. I have 4 right now, in the garage. Two 289’s and one 302 and one massaged 331. That does not include the 331 in my 84 F150. Chevy may have cornered the aftermarket with cheap upgrades but as far as I’m concerned, it’s Ford all the way. No offense intended to the Bow Tie Guys or the MoPar enthusiast’s….I have ripped @ss with 327’s as well as 318’s…

      Like 0
  13. Colin Callaghan

    Hi guys, i live in aussie land and i would dearly love to have this car but unfortunately due to my financial circumstances it wont happen. But if was able to have it i would spend alot of time and bring this beautiful car back to factory specs with the love and care that these cars deserve. I am 71 and this would be the last thing i would ever do. I just love american cars. But the mustang is my weakness and i admire them with a passion but have never had the opportunity to own one.

    Like 0
  14. Adam Wright

    I might have gotten in before these really starting climbing, bought 65 last year for $10,000 running, another $3000 in sorting and I’m on the road.

    Like 0
    • DrinkinGasoline

      You were fortunate….these have been climbing since the early 80’s. I have a 66 Notchback 289 3 spd. car in, literally….pieces. Maroon over white pony interior. It’s been a long road. The coupe will be the last in a long line to be restored….finally. It will be my Wife’s summer driver.

      Like 0
  15. glenn merithew

    My dad in 1965 was sent out by my mom to purchase a new car we were living in N.H. at the time and cars up there didn’t last long do to the dreaded rust so my dad took the 61 nova wagon and went to the local ford dealer my mom was pregnant the time with my little sister. so he comes home with a brand new 65 ford f100 4×4 . my mom took one look and said James Merithew you take that thing back and get me a car I can get in and out of so my dad took it back and came home with a new mustang hardtop silverblue blue and white pony interior, 289 automatic air and short console needless to say my mom loved it but by 1969 it was traded in on a torino and the 65 was gone I to this day always wondered what became of it

    Like 0
  16. Adam Wright

    Another angle

    Like 0
    • Jack

      It’s funny, the picture of the Stang looks like the odd man out surrounded by all the Porsches!

      Like 0
    • WILLIAM BABYAK

      Why do I half expect to see Robert Urich climbing out of this gorgeous Mustang? One word: SPENSAHH!

      Like 0
    • Doug Towsley

      I gave Adam thumbs up just for the cool pix of the shop-yard with the converted semi trailer and all the “Treasures” laying around. I have 2 40ft storage containers and a 48ft semi trailer that I use for parts. Sometimes the stuff in the backgrounds are more interesting than the primary vehicle being discussed.

      As to these mustangs? Cool to look at but Ive ridden in a LOT of them back in the day and they handle like crap, most droop in the back and always feel like driving farm machinery ready to fall off the frame if you corner too fast,,, Unless super rare id vote resto mod because the images dont match the reality with the original cars on these. In Fred Puhns Suspension engineering handbook the susp. on these is a teaching example of what defective suspension is. (Ironically a carbon copy of 62-65 Novas as well, some parts interchange) D-E-F-C-T-I-V-E

      Like 0
  17. DolphinMember

    A few years ago I sat watching a real good looking GT350-H clone on Ebay with my finger over the key to submit a bid as the auction was ending. There were good photos and even a good video of the car being driven in the listing, and it sounded really good. It was even a 4-speed, which the car in this auction doesn’t have going for it. It was about 1K miles away, but I have a car hauler and I had a Diesel RAM at the time.

    I didn’t hit the key and it sold for about what this needy car is bid to now. Regrets…regrets…

    Like 0
  18. Adam T45Staff

    If this is a matching numbers car then it fully deserves a full restoration. The early Mustangs are doing nothing but going up in value. Regardless of the value issue, it’s a beautiful car and sometimes the heart simply has to rule the head in the world of restoration. It really doesn’t matter what a restoration costs (within reason) if the restorer intends to keep and enjoy their car.

    Like 0
    • Rocco

      I don’t think there are vin#’s on non high performance drivetrains in Mustangs. Most people just look for the date codes on engine parts.

      Like 0
  19. Wrong Way

    I liked the post! I have a question for anyone who might be interested in answering it! I have a nice coyote and I have been looking for Goodyear raised white letter tires for it! The tire shops around here say that they can’t get them! I need someone to recommend a outlet where I can find them! Thanks

    Like 0
  20. John P

    I laugh outloud by myself every time someone says they’re “scared of rust”.. The bottom of this car looks to be in excellent original condition and the surface rust isn’t even worth mentioning.. that is not to be scared of!!

    Like 0
  21. Roger

    Very nice find and a great beginner to restore. What ever the plans are everyone should still remember they still drive like a ’65 but one can enhance the drivability if you are willing to spend some serious dollars.
    Here’s a shot of my ’65 in the original Poppy Red.

    Like 0
  22. Brad C

    That paint looks pretty darn good from here, and a great color. If it isn’t a repaint, I’d pull out my Cyclo buffer and do everything possible to make it last – just to brag that it’s original.

    Like 0
  23. Mike

    I got a 67 2×2 find that makes that look like a bucket.

    Like 0
    • Steven

      Looks like a GT ?

      Like 0
      • Rocco

        GT’s didn’t have rocker moldings in ’67. They had “GT” stripes and lettering.

        Like 0
  24. Steven

    Hard to actually believe its a Barn Find and forgotten about, yeah classic cars are setting around in buildings but not that someone knows of them.. Its them ol’ stories of no its not for sale or the owner says a out radical price! Really only way to see the rust on this stang is take it apart and plastic blast it then see.

    Like 0
  25. Marshall

    In 1974, I test drove a first generation fastback (I believe it had a 289) that the owner was selling for 480 bucks. It was in decent shape, but it did have Illinois rust. I declined to buy it, but I wonder if I should have. No matter, I was in the army, and I was looking for a car that I was only going to keep for a few months anyway, before shipping out overseas.

    Like 0
  26. racer99

    Sold for $14,600. Seems a decent deal.

    Like 0
  27. Steven

    I’ve seen a good many people try restore classic cars and make more of a mess and then get a shop to restore it.. Only a hand full of true Mustang and Camaro expert shops around , but yes they are expensive as that’s what its all about restoration back better than the factory built them.. Dan Short he puts new framework everything moving parts and body parts if rust its replaced with new! So you pay for what you want, sure time and labor cost figures.. A person wants to drive , not spent years in restoration by themselves as I know a man right now who is and get this all by herself restoring a B17 as everyone has told him he can’t do that since it was a large plane.. That guy wont live to see it done!

    Like 0
  28. Bill McCoskey Bill McCoskeyMember

    This is actually one of the rarest of the series 1 Mustangs. When the Fastback first came out, it was available in 3 different versions, Standard, 2+2, and GT. This is a Standard version of the fastback.

    Standards are rare, but easy to identify, they don’t come with bucket seats and have a lower interior trim level, they don’t have 2+2 side front fender emblems, dual exhaust, and exhaust tips running thru the rear valence. Standard engine was the 6-cylinder. I knew someone who bought a standard fastback new, with 6-cylinder, 3-speed floor shift, and bench seat. The folding rear seat was an extra cost option.

    The 2+2 has the side emblems, and things like 289 2V engine & bucket seats were standard.

    GT had GT emblems, exhaust thru the valence, GT wheels, and more standard trim items. And I think the GT came standard with the 4V 289.

    Because of it’s rarity, this car should be restored as stock as possible, it’s gonna be worth investing in. These cars are so rare they don’t show up in the price guides, as there are not enough survivors to aggregate the numbers.

    Like 0
    • Wrong Way

      Mr Bill, I think that you had a excellent post! However I thought that I was the expert Mustang historian! I must compliment you sir! I think that you and I should sit down and talk, we could certainly put a good book together about the history of the Mustang! I have no idea how old you may be, but I lived during the time of the climb to the top for Mustang! My first was a 64! I still drive one today however it is a 2012 GT of course! Your knowledge is very good! Maybe we could meet before I go for coffee somewhere and talk Mustangs! My favorite topic! LOL!

      Like 0
    • Rocco

      ALL ’65-’66 Mustang fastbacks are 2+2’s . The fastbacks were available in “standard” trim or in GT trim.

      Totally wrong about the base model fastback having a bench seat – ALL early Mustangs had bucket seats as standard equipment. Bench seat was an option. Base fastbacks had “2+2” emblems on the fenders. GT models had GT badging instead of “2+2” badges.

      The folding rear seat was not optional in ’65-’66, it was standard (in later years, the fold-down rear seat was optional).

      The six cylinder engine was standard in all Mustangs except the GT models – the standard engine in the GT was a 289 4V. All (’65-’66) Mustangs were available with a 289 V8 as an option. In base models, you could opt for a 260, a 289 2V, 289 4V, or a 289 HiPo. With the GT, the 289 4V was standard, and a 289 HiPo was optional.

      “Base” and “Standard” are the same thing – there are only two models of early Mustang fastbacks GT, and non-GT (which some may refer to as base or standard).

      Like 0
  29. Tyler

    For over 10 years, I have been watching 4 of these sink into the ground beside & behind a house I pass by once a month. When I first saw them, I turned around in the nearest driveway & went back to ask if they were for sale & if I could look at them. I was told no, & no, & that was the end of the discussion. A couple years later I stopped again. This time I was greeted with “I said they aren’t for sale & don’t ask again.” Oh well…

    Like 0
  30. jdjonesdr

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