Pony Project: 1967 Ford Mustang GT Fastback

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Ford enthusiasts have a definite advantage when it comes to researching and documenting the history of 1967-2012 Ford products. Original Ford documentation is available from an approved vendor to confirm the build date and supplied optional equipment at the time of production.  In Ford products, this helps out the investigative process for such things as determining whether the car is a real GT or not. Ford did not provide evidence of this package in either the VIN or data tag,  leaving it up to speculation as to whether it was a GT or not based upon options. No ambiguity exists in this featured car, the documentation shows a 67 fastback ordered with the GT package and an array of interesting options. Located in New Lebanon Ohio, it is listed here on eBay with two options, buy it now for $18,000 or best offer.

The location of the car is in a large shop with other early Mustangs, so clearly, the seller or shop owner is familiar with these cars and knows exactly what he has. He lists it as rare as verified by his documentation. Although this is somewhat true, those reports break down rarity by listing each option, mathematically eliminating different combinations. In an era when options could be ordered individually, there are a lot of possible combinations even with high production numbers. In fact, in 1967 this car could still be a GT with the 289  2 barrel carburetor, making it rarer but not necessarily more valuable than any other GT. The special or unknown paint code is interesting; it could have been a shade of gold based upon the interior.

This project is an expensive entry point for the hobby. The seller admits floors, frame rails, and trunk all need replacement. Although not mentioned, the cowl is most likely rusted as well. This is a common failure causing water to leak on the floor.  A quick scan through the pictures will lead a buyer to believe a lot of exterior sheet metal will also need to be replaced.

The good news about this car is much of the original equipment seems to present and accounted for. The interior, although badly weathered, is still intact. The engine is a 289, all original with the exception of the carb. Factory air is its associated equipment is still in place. The engine is said to “not run” and no indication given of why. However it looks like it was never disturbed, so a full rebuild is in order.

Obtaining replacement parts for an early Mustang are not the problem. They are one of the best-supported collector cars in the aftermarket reproduction, with almost all the necessary sheet metal, engine and interior parts available. The bottom line is I have a difficult time justifying the selling price unless the seller is willing to accept a significantly lower offer. Restoring this car would be a long laborious project; probably the owner of the shop has come to the same conclusion. Even though this car is complete, almost everything requires replacement or rebuild. Entire new fastback bodies have become available in the aftermarket, and transferring parts over may be an option. I myself don’t know of the legality of transferring VIN’s from a project car to one of these new bodies. Still another alternative would be to purchase a better car for more money but a lot less work. It could be the cheapest option in the long run. Have any of you tackled a project this big and come out ahead?

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  1. Big_FunMember

    Being more informed on GM products, I had to Google ‘Mustang trap door’; here is a description from the link below (I’m not affiliated with said website): “Mustang fastbacks equipped with the fold down rear seat option were also given a metal trap door to increase capacity from the small trunk.”
    And, I’ll bite on your ‘ it could have been a shade of gold based upon the interior’ statement, Kevin – why do you think that?
    That is what I love about this BF site, I learn something every day…

    Like 2
    • Mark Cotnam

      This project Mustang fastback s b approached w caution, I have experience w mid 70’s Little BR cars, incl a similarly degraded ’76 Mini. Only a crazy would restore same, hence I keep it only as remote option, all bits available new incl tub & body panels [car rusted 4 16 yrs in forest, an act of war against the BR Empire] friend who sold me same 4 $100. He was instrumental in me adding 3 J-Hs 2 my livery 4 $6K, ’75 was raced @ Targa Newfoundland, beating Daimler Chrysler Factory. The car is bullet proof, my son’s ’74 req min $5K & 1,000 hrs. Worthwhile as we’ll be the only son father J-Hs in the Galaxy.

      Mustang req $12K parts [***no value assessed to owner labour/admin***] + $20+K for service ie paint, fabrication, engine rebuild. Doable yes, so is a Mars mission. Advice from someone w same I Q as Albert [1 in 80,000] find less degraded project, it w b worth same as mega project restored for < $ & grief. I do know of collectors that restored their way into a divorce. Not a "happy result".
      Good luck & take care, your EN northern neighbour, Johnny Canuck, descendant of Johnny EN who drove a Mini b4 a McLaren F-1, more cost effectively. LOL Mr. Bean logged largest ever ins claim in UK $970,000 WOWZERS.

      Like 0
  2. Neil G


    Like 1
  3. rustyvet

    So 14k is the new price of admission for clapped out fastbacks?
    Still kind of worth it…

    Like 2
  4. Len

    I own the exact car, but with a 4 speed undergoing a restoration in San Diego. It may be the same dark green as mine.

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  5. Robert G.

    This guy wants way to much money for this car. This car is worth about two thousand dollars. Even the frame rails are rusted out.
    It needs everything.
    Furthermore. it was only a small block with a automatic transmission.

    Like 1
    • Silicon-Surfer

      You’re way out. The car SOLD for $14K, so it’s worth a lot more to someone else.

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      • robert g

        You can get a whole new body for that much money !

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    • robert semrad

      Robert, you’re surely aware of how many hp can be squeezed out of a light weight 289, right? Recall the early Shelby 350’s. As for the automatic tranny diss, I suppose you are also aware they do better in drag racing than manuals of their day? Much more drivers can actually drive this car than a manual….most gals and younger guys have never been exposed to manuals. Personally, I prefer the manuals, but I’ve been shifting them since I was 10 on the farm, out in the field, where I learned….how many were lucky enough to have that going for them? lol…..those were the days, my friend….

      Like 0
      • Robert G

        Yea, I suppose your right. You do have a point there.

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      • bog

        Robert – Well….some of us. Learned how to drive stick on my Uncle’s farm at age 9. Small grey Ford tractor with blocks on pedals so I (and my young cousins) could reach them. When you’re not big enough to load hay bales, you drive the tractor. Back to car….I’ve regretted “taking a pass” on a brand new ’67 Mustang GT. It was a white fastback, red interior, hi-po 390 and 4 speed. Chose the brand new ’67 Fairlane GTA. Thought I needed the extra space, as I was shipping out to Germany and “thought” I’d need lots of luggage room & didn’t think all my Army gear would fit in the Mustang. Stupid, stupid, stupid…. Made amends by ordering/buying a ’71 BOSS 351 when I came back !

        Like 0

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