This 1970 Mustang Fastback might not appear to be anything startling, but it is an excellent car that would make an easy and rewarding restoration project. The prospect of tackling significant rust issues can be daunting, but as you will see, that isn’t an issue here. It is also a numbers-matching classic that offers power to burn. That will sound like a winning combination to a lot of people, so if it has piqued your interest, you will find the Fastback located in Tehama, California, and listed for sale here on eBay. The BIN is set at $32,000, but there is the option to submit an offer.

The photos have tended to wash the Mustang’s color because while the vehicle looks white, it is actually wearing its original Pastel Blue paint. The paint has seen better days, but there is no reason why you couldn’t follow the seller’s lead and continue driving it as an original survivor. The panels sport a few dings and dents, but none of these would justify panel replacement. That inevitably brings us to the point where we have to discuss the rust issues that might plague this Mustang. Being a 1st Generation car, it feels like there is an air of inevitability about that subject. However, it is wise never to assume too much because this classic is entirely rust-free and wears all of its original FoMoCo steel. The owner supplies some clear photos of the floors, frame rails, and torque boxes. It all looks spotless, without so much as a trace of surface corrosion. The thought of not being forced to break out the grinder and welder must seem like heaven to some of our readers. When you add the spotless condition of the trim, chrome, wheel covers, and the tinted glass, it looks like we could be onto a winner here.

When it comes to “bang-for-your-buck” propositions, the M-Code 351 was a pretty sweet deal when dropped into a 1970 Mustang Fastback. It added a mere $93 to the base Mustang Fastback’s $2,822 retail price. This was considerably less than the $421 for the 428 Cobra Jet, but the M-Code car didn’t give a huge amount away in outright performance. A 4-speed CJ would blitz the ¼ mile in 14.4 seconds, while the M-Code would complete the same journey in 14.5 seconds. Top speed was neck-an-neck, so unless you were searching desperately for that final tenth of a second, it would have been hard to justify that additional expense when you wandered into your local Ford dealership. When the original owner slapped down their cash for this car, they chose the M-Code and backed it with a 4-speed close-ratio transmission and a 3.25 rear end. I suspect that they wanted to extract every ounce of performance that they could from this package, so they chose not to spend the $95 on power steering or the $65 on power front disc brakes. The Mustang remains a numbers-matching classic, and apart from consumables, the only aftermarket addition is a Holley carburetor. The original Autolite unit was leaking, and this is what prompted the swap. However, the Autolite and all of its fittings are included in the sale. The owner has had the V8 inspected and chose to replace the oil pump drive, water pump, fuel pump, balancer, along with the timing chain and gears. The inspection revealed an engine that is in as-new condition. The owner says that the Mustang runs perfectly and that it is a blast to drive.

Sometimes you will look at the interior of a classic car when it has been fitted with aftermarket air conditioning, and it will be impossible to differentiate it from the genuine article. Then you have ones like this! That is a pretty ugly looking setup, and if the buyer decides that A/C is a must-have, I would encourage them to find a system that integrates better with the interior. Alternatively, they could remove this system entirely and plump for what I refer to as “2/50 air conditioning.” That’s two windows down at 50mph. There are a couple of other issues that will need to be addressed, but nothing would be a deal-breaker. The driver’s seat is pretty tattered, and the upper rear seat sounds like it might be suffering from a dose of sun-rot. It would be worth the expense to install a full set of covers and foam because that isn’t an expensive proposition. While I had the seats out, I would probably drop in a new carpet set and a replacement for the cracked dash pad. With that work done, this interior should present very nicely.

Since I first laid eyes on one, my ideal Mustang has always been a 1966 Fastback equipped with a K-Code 289 and a 4-speed. However, short of a lottery win or selling all of my worldly possessions, I doubt that I’ll be able to park one in my workshop. When it comes to classic cars, it can be hard to accept compromise, but if someone offered to park this 1970 Fastback in my workshop, I wouldn’t tell them to take it away. This is a Mustang that has a lot to offer its next lucky owner, and while it might not be a cheap project car, the ongoing strong performance of 1st Generation Mustangs in the market would suggest that it could be well worth the cost.