We’ve recently seen an influx of Indy Pace Car Editions from various marques crossing our desks at Barn Finds, and this 1979 Ford Mustang continues that trend. It is a solid project candidate featuring the desirable V8/4-speed mechanical combination. It has undergone a few changes, but the seller provides the option for the buyer to purchase many of the required parts that would return it to its factory specifications. The Mustang is listed here on eBay in Denver, Colorado, with a BIN price of $5,800.

The Ford Mustang scored its first gig as the Pace Car for the annual Indianapolis 500 in 1964, but the company had to wait until 1979 for a repeat performance. It proved the perfect opportunity for Ford to showcase its new Fox-Body range, and it released 10,487 examples of the Pace Car Edition to celebrate the milestone. As was the tradition, all cars wore the same color combination, with Ford selecting Pewter and Black paint with contrasting Orange and Red graphics. Aerodynamic additions included front and rear spoilers, a hood scoop, a sunroof, and a set of Marchal lights mounted in the front spoiler. This Mustang retains those features, and having spent its life in dry locations, it is free from the level of rust that sometimes plagues these classics. The floors are rock-solid, and the only lower region issue is a couple of spots behind each rear mudflap. The news isn’t quite as good as we climb higher, because the sunroof frame has developed problems. However, the seller includes an additional correct roof structure that could be grafted in that would eliminate that issue. The plastic is in good condition, although the paint has succumbed to years of exposure. A cosmetic refresh would be easy, and the seller includes a complete decal kit that would allow the buyer to add the perfect finishing touch. The wheels as fitted aren’t original, but the factory alloys could form part of a tempting parts package that will be covered shortly.

Enthusiasts will examine the supplied photos and immediately realize that the Red vinyl seats and console fitted to this Mustang aren’t original. The Indy Pace Car package included distinctive Black and White cloth and vinyl trim, with front seat occupants sinking into beautiful, body-hugging Recaros. It is unclear why this car underwent the change that it did, but it isn’t the end of the world if someone wishes to recapture the Mustang’s former glory. Scouring the usual online auction sites should uncover the required parts, but the seller also offers everything needed for a faithful restoration at an additional cost. It is an option well worth considering, because it will certainly reduce the time and stress associated with this Pace Car’s restoration.

Of the 10,487 examples of the 1979 Mustang Indy Pace Car Edition produced, 2,402 buyers selected the 302ci V8, teamed with a four-speed manual transmission. This wasn’t the rarest combination, but it is acknowledged as the most desirable. The V8 was no fireball by 1979, delivering 140hp and 250 ft/lbs of torque. Those figures are modest by modern standards, but since this Mustang left the factory during The Malaise Era, it was about what buyers had come to accept as the norm. The seller states that this engine runs. However, with one cylinder having extremely low compression, it only fires on the remaining seven. It should be a prime candidate for a rebuild, or the buyer could spend an additional $500 over the purchase price to take away the healthy 1989-vintage “Mass Air” 5.0-liter that the seller has sitting in their workshop.

Potential buyers face some choices if they decide to give this 1979 Mustang Indy Pace Car Edition a new home, but to me, it is a no-brainer. These cars command their best price in original form, and that is what I would aim for with the restoration. The seller has a package that includes the correct factory interior with the beautiful Recaro seats, carpet, and other items. They also have the original wheels and the correct exhaust. These items are not included in the deal, but if someone is willing to hand the seller $12,000 OBO, they can take the car and the additional parts. Considering what it would cost to source the seats alone, that must look attractive. That is the path that I would take, but do you feel the same?