Real S-Code: 1967 Ford Mustang GT 390 Project

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This 1967 Ford Mustang fastback listed on eBay checks several important boxes for serious Mustang enthusiasts, starting with the fact that it is confirmed as a real fastback and a factory S-code car. Originally, this Mustang left the factory as a 390-powered, 4-speed GT, which immediately places it in a desirable performance category from day one. Thanks for the tip, Curvette!

Today, the drivetrain setup has changed. The car now has a 351 V8 with an automatic transmission installed. The seller notes that the motor turns over, but it still needs to be wired, and their original plan was to remove it. That leaves the next owner with clear options—either finish the current drivetrain installation or return the car to a more factory-correct configuration depending on goals and budget.

Structurally, this Mustang is described as a very solid car, which is often the hardest part of owning one of these fastbacks. The seller confirms that the apron stamp is still present, which helps authenticate its original identity, and it also retains the correct 9-inch rear end for a 1967 model. Those details matter to collectors who care about originality, even when a car is in project form.

This Mustang also has GT options, along with front disc brakes, both of which add to its appeal as a performance-oriented foundation. The VIN prefix confirms its S-code origins, reinforcing that this was not originally a base-model car upgraded later—it began life as a higher-performance Mustang.

Finished in black, with patches of repair work and flash rust, the car currently has a clean title, and it’s being sold as a project vehicle. What makes this Mustang especially attractive is the combination of its real fastback body, documented S-code history, and solid condition. Many fastbacks on the market today started life as lower-spec cars, but this one carries genuine performance pedigree from the factory. Even though it’s no longer wearing its original 390 and 4-speed, that heritage still gives it added weight in the Mustang world.

For the right buyer, this car offers flexibility. It can be built into a modernized street machine using the existing 351 setup, or it can be taken back toward its original GT, S-code roots. Either direction starts with a solid, authentic fastback platform—something that continues to get harder and more expensive to find.

Would you keep this Mustang as a restomod with the 351, or would you chase down a period-correct 390 and return it to its original S-code GT form?

Auctions Ending Soon

Comments

  1. Newport Pagnell

    Gone…

    Like 0
  2. Fox Owner

    Wow that was quick. I sort of question what value an S code 390 adds if it’s not in there anymore. Even if you could get a period correct engine to put in, it’s not original anymore.

    Like 0
  3. Steve R

    The auction ended with a high bid of $20,300, which did not meet reserve. I’d be surprised if the seller doesn’t relist it, he’s sold several cars, some featured on this site, over the last 90 days, those that didn’t sell the first time were relisted.

    It’s tough, but still a fastback Mustang. Which means someone will eventually buy it.

    Steve R

    Like 0
  4. DA

    I can see why it didn’t sell. Original engine gone, automatic transmission installed, but clutch pedal still dangles. Fairly rough body with rot noted underneath, and the interior needs work, especially that cracked dash and trim. Bumpers gone, and some pictures that look like somebody had a few before placing the ad…

    Like 0

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