Rust-Free Project: 1969 Ford Mustang Fastback

This 1969 Fastback demonstrates that there are still great First Generation Mustang project cars emerging from hiding that offer enormous potential as project cars. This classic has spent its life in one of the best locations for preserving steel, allowing it to remain rust-free. That means the buyer can focus on their vision for this beauty rather than deciding where they will source acres of replacement steel. If that sounds too tempting to resist, you will find the Fastback located in Riverside, California, and listed for sale here on eBay. Spirited bidding has pushed the price to $15,100, although this figure is short of the reserve.

The Marti Report for this Fastback makes fascinating reading. When Ford unveiled the First Generation Mustang, they found themselves in an enviable position where supply could not meet demand. They were selling cars as fast as they rolled off the line, such was the public’s insatiable appetite for the new model. By 1969, buyers had cooled, which is demonstrated by the history of our feature car. The company produced this classic in January 1969 but failed to find a buyer until April of that year. The Marti Report also reveals that it wore Black Jade paint, which was one of the more striking colors offered in that model year. There is little evidence of that today, with the car’s overall appearance suggesting that it is a project build that stalled early in proceedings. That could prove positive news for potential buyers because it means they won’t face undoing previous work if it doesn’t meet their exacting standards. The panels look pretty straight, with no significant dents or bruises. However, its trump card is undoubtedly its rust-free status. The panels look remarkably clean, while the floors show nothing beyond the occasional dusting of surface corrosion. The grinder and welder can stay in the cupboard on this build, which many buyers will view as a blessing. With the car in its current state, the new owner will probably pull the drivetrain for refurbishment. If that proves the case, I would find it difficult to resist the lure of tackling this project as a rotisserie build. That approach would allow the next owner to treat the surface corrosion underneath, undercoat the car, and replace items like the fuel and brake lines. That would maximize the chances of this classic remaining rust-free and would ensure that nothing below decks would require attention in the foreseeable future. The buyer will need to assess the state of the trim to determine what could be used and what may require restoration or replacement. The same is true of the tinted glass, but the overall impression is that this project shows plenty of promise.

Another aspect of the Mustang requiring its share of attention is the interior. Although the factory AM radio has made way for an aftermarket radio/cassette player, it is essentially complete. That isn’t the only deviation because, when it was shiny and new, Ford trimmed the interior in Ivy Gold vinyl. It requires a total retrim, which will lighten the buyer’s wallet to the tune of $2,200. However, they will need to choose what path to follow. If a faithful restoration is the goal, that will entail more Ivy Gold. If the buyer selects a custom path, all bets are off. If they prefer black vinyl, cloth, or the luxury of leather, those options are also available. It is a similar story with interior comfort appointments. The car originally featured an AM radio, and the Sport Deck rear seat is intact. They may elect to add a sports gauge cluster, air conditioning, or other options tailoring the car to their needs and taste. With that approach, the world will be their oyster.

This Mustang rolled off the line with its engine bay occupied by the F-Code 302ci V8 that produced 220hp. The rest of the drivetrain included a three-speed automatic transmission and power steering. That combination would have allowed the car to cover the ¼ mile in 16.4 seconds, making it the slowest V8-equipped Mustang from that model year. While the owner doesn’t specifically state that the car is numbers-matching, they use the word “original” in their description. If it is numbers-matching, it is ideal for a faithful restoration. However, there are other options worth considering. The relatively sedate performance figures may motivate the new owner to explore other options. They may opt to transform this classic into a Mach 1 or Boss clone, with both paths potentially unleashing improved performance. The car is also a prime candidate for a restomod build, allowing the owner to retain all the charm and character of a First Generation Mustang in a package that is more civilized, safer, and provides a relaxed driving experience. They are all options worth considering, and all have their relative merits.

Okay, it’s hypothetical time. Imagine walking to your workshop, opening the door, and finding this 1969 Mustang Fastback sitting there begging for attention. What would be your next move? Would you return it to its original specifications as listed in the Marti Report? Or would you have other ideas? Regular readers would expect me to favor a faithful restoration, but that doesn’t make me a one-trick pony. Restored to a high standard, it would command a value of $50,000 any day of the week. However, with 299,824 cars rolling off the production line in that model year, the 1969 Mustang is not a particularly rare car. If I were the winning bidder, I would find the lure of producing a Boss clone hard to resist. I would recondition and retain the numbers-matching drivetrain in my workshop so that the option was available to return the car to its original form if I were ever to part with it. That approach could offer the best of both worlds. Do you agree?