Original K-Code: 1966 Ford Mustang GT Fastback

When you consider how many 1st Generation Mustangs Ford built, it is no wonder that potential buyers today are forced to wade through masses of these classics to find a promising project car. It is possible that if you are one of those people, your search may have ended. This 1966 GT Fastback has so many positive points that it isn’t easy to know where to start. It features its original K-Code V8 and is structurally sound. That last point is always a good one in cases like these. The owner has chosen to part with it, so he has advertised it for sale here on craigslist. The Mustang is located in El Dorado Hills, California, and the owner has set the price at $49,850. I have to say a huge thank you to Barn Finder rex m for spotting this fantastic pony project for us.

The starting point for this restoration looks to be a good one. There’s no hiding the fact that a repaint will be on the agenda because the original Nightmist Blue is well past its prime. Some buyers might be tempted to perform a color change at this point, but as you will see, there are some excellent reasons to try maintaining as much of this classic’s originality as possible. When you dig below the faded paint, you find remarkably straight panels. The owner has commenced a restoration, but this has stalled pretty early. He has replaced the trunk lid, but the rest of the panels appear to be original. They wear a few minor dings and marks, but there’s nothing severe enough to justify panel replacement. The Mustang has spent its life in California, and this has helped the panels to remain rust-free. All of the lower extremities look good, including the lower rear quarter panels and rockers. The exterior trim will all need a thorough clean to determine what is suitable for reuse, but I can’t spot any issues with the tinted glass. The owner includes a correct set of GT wheels with the car, which should add the perfect finishing touch to the exterior.

It’s when you delve below the surface that you start to feel like you might have hit the jackpot with this Mustang. The underside of this Fastback is about as clean as you are ever likely to find on a project car. The floors and frame rails appear to be sound, and I can’t spot any issues around the torque box region. The buyer will probably want to clean and treat the underside to help maintain its integrity for decades to come, but that’s much easier and cheaper than undertaking copious amounts of cutting, welding, and grinding.

There doesn’t seem to be any end to the good news with this Mustang. The interior is complete and unmolested, and the original owner ordered the car with a pushbutton radio and Rally-Pac gauges. Potential buyers needn’t be concerned about the state of the interior trim because it appears that the owner has you covered on that point. He says that he has a Pony interior that has been fully restored and is now ready to be fitted. With all of that new trim in place, the Mustang’s interior will look factory fresh.

Have you had enough good news? I hope not, because I’ve got a bit more for you. The Mustang is a numbers-matching car that features the mighty K-Code 289ci V8. If you ordered a new Mustang in 1966, this was about as good as it got. This beast would punch out an impressive 271hp, which made sub-15-second ¼-mile ETs easy to achieve. This one is backed by the correct C4 automatic transmission that features the more robust internal components and the “C” designation on the outer servo casing. The original owner also chose to equip the Fastback with power steering and front disc brakes. That little K-Code looks very tidy, and this is because the owner has treated it to a rebuild. It hasn’t fired a shot in anger since the work was completed, so it’s ready to go when the buyer slots it back into the engine bay. The availability of the C4 transmission in combination with the K-Code V8 was a new one for 1966, but the owner offers a further alternative for potential buyers to consider. He has a correct 4-speed manual transmission and pedal assembly for anyone who wants to tackle shifting duties for themselves. It sounds like he is willing to do a deal on these components, which is an intriguing prospect to consider.

We see 1st Generation Mustang project cars in many forms here at Barn Finds, and their conditions can range from the extremely promising to vehicles that are one small step away from being ready for the crusher. This GT Fastback falls into the former category, and it has all the hallmarks of a straightforward restoration. If you are a person who possesses some skills with metal preparation and a spray gun, this could be a fantastic project to tackle in a home workshop. It is not a cheap project car, but when you look at the scope of the work required to return it to a factory-fresh state, the next owner isn’t facing a crippling bill for rust repairs. It has only been on the market for a day, and I suspect that someone will probably jump on it pretty quickly. Could that person be you?


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  1. Machcopper Machcopper Member

    Very nice car for a restoration. I lived in El Dorado Hills and it is very dry country during the summer and normal rain during the winter. If it has been stored inside it is a great project. I had a 66 shelby gt350H and it never saw any rust while living in El Dorado Hills. The new owner will truly enjoy this car. I would be in for $30k but can not go to $50k right now on a project.

    Like 13
  2. Jcs

    Nice finds today, Adam.

    Like 8
  3. Jonny

    $50g’s as is … is strong money. I think it brings mid 40s. *Nice, rare project though. Proportionally, the 1st Gen FBs are the best they did

    Like 5
  4. Robert F Gressard

    After I picked myself up from the floor I read this again. This is the Holy Grail. If you have ever wanted a Mustang this it. Bite the Bullitt and buy it. Little pun there. I know as I have a 66 that I bought in 66. It’s an A code GT fastback with lots of happy miles. Cheers Bob.

    Like 9
    • Stephen

      The Holy Grail comes with a stick.

      Like 1
      • robert semrad

        And it has a stick…..it comes with a four speed, or, if you want, an automatic. But it does come with a stick if that’s what you want.

    • Stephen

      The car is an automatic. It comes with a stick in a box on the shelf.

      • robert semrad

        Steven…..in the picture there’s a clutch pedal. Automatics don’t have a clutch pedal. They only have a brake pedal. With an automatic, you don’t need to use a clutch to shift, the automatic shifts on it’s own. But a standard 3 or 4 speed, you have to do the shifting. That’s where the clutch comes in. Where do you see ” It comes with a stick in a box on the shelf.”

        Like 1
  5. Skorzeny

    The Holy Grail? With an automatic? We live in different worlds my friend…

    Like 4
    • Robert F Gressard

      Yes: The worlds of wishes and reality. And of course the haves and have not. Nice find!

      Like 5
    • robert semrad

      And it has a stick…..it comes with a four speed, or, if you want, an automatic. But it does come with a stick if that’s what you want. Slow down when you’re reading the article.

  6. Macfly

    Seems like the clutch pedal is already installed, not just “available”.

    Like 1
    • robert semrad

      And it has a stick…..it comes with a four speed, or, if you want, an automatic. But it does come with a stick if that’s what you want. Read the article more carefully. You have the option of an automatic, but it came from the factory with a four speed.

      • Stephen

        Most of us choose not to misrepresent this car. Nice project. Automatic.

  7. fran

    The reality is that it still is going to cost some good money to “restore” it. Some think a paint job and it is done, but those who have been there know different. 65 and 66’s are all over the road in price, homework people! Do it. I bet it can make a nice car, for my taste, I think I would add 100K and buy a GT350. They are out there.

  8. Evan Eberlin

    K code Mustangs, in 65, not sure of 66, only came with a 4 speed, and you had to pay extra for it.

  9. gaspumpchas

    posting deleted….

  10. Melton Mooney

    Aaaand it’s gone!

    Like 1
  11. Stephen

    Robert – thanks for tip on automatics not coming with a clutch pedal. Learn something every day.

    The article says that the car has a C4 automatic transmission. The only interior shot I see includes no clutch pedal. The article says the owner has a manual transmission (I guessed it was in a box on the shelf) that he may sell separately.

    This leads me to believe the car is an automatic. But that’s just me. You see a four speed Holy Grail. To each their own.

    • robert semrad

      Stephen…..in this Barn Find article, go to the fourth picture. It is an interior shot with the passenger seat pushed in the forward position. Now, look over where the driver sits. There, in front of where he sits, on the floor, you can easily see a clutch as well as a power brake pedal. Automatics, despite what you may think, do not come with clutches nor the pedals that engage the clutch. Sine this car plainly has a clutch pedal, the obvious thing to point out regarding this car, is that it was not an automatic. Do you understand now? Let me know if you have any questions, because I’d bet BF members have the answers. Thanks…

  12. Stephen

    Robert – my bad. I see the clutch pedal now. You are right about that.

    Not sure what to make of this car since the article says it’s a C4 auto with the four speed bits sold separately.

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