It is hard to believe that this 1968 Mustang Fastback has spent the last 10-years languishing under a tent. It has survived this ordeal remarkably well and has all of the makings of a great project car. The owner has revived it, but it will be up to the buyer to return it to a roadworthy state. If you feel that you could be up to the challenge, you will find the Mustang located in Manahawkin, New Jersey, and listed for sale here on eBay. Bidding has reached $20,900, and with the reserve met, a new home and a new life are just days away for this classic.

It isn’t unusual to find Mustangs of this era that have undergone some significant changes, and this one is no exception. It started life wearing what I believe was Sunlit Gold but has received a color change at some point. The paint is showing its age, and a refresh is probably going to be in order. The owner feels that the car may have received new rear quarter panels when the color change was performed, and the decade under the tent has exposed some Bondo that was applied as a part of the process. This would need to be stripped away to ensure that no nasty surprises are hiding beneath. The rest of the panels look pretty good, but the buyer will need to decide whether to retain the red or apply something else. The glass and chrome are in good order, but the aftermarket wheels are exhibiting some corrosion issues.

This photo best demonstrates the rust that the buyer will need to tackle if this Mustang is to become structurally sound once again. The frame rails have a heavy coating of surface corrosion, but they appear to be sound. There are some previous rust repairs in the floors, and these look a bit rough. However, unstitching the repairs would not be difficult, and I believe it would be well worth the effort. The front frame rails look good, and there is no evidence of rust in the shock towers or under the battery tray. Completing this part of the refurbishment would probably entail completely dismantling the car, but if the work is completed to a high standard, rust need never be a problem again.

I would refer to this project as a refurbishment rather than a restoration. This is because the Mustang is not a numbers-matching car. The VIN indicates that it rolled off the production line with a T-Code 200ci 6-cylinder engine under the hood. The six has made way for a 302ci V8, while the car also features a 4-speed manual transmission and power steering. It isn’t clear what the specifications of this V8 are, but it would be fair to expect that it should be producing at least 210hp. This is a massive leap forward from the six’s 115hp and should make for an entertaining driving experience. After a decade of inactivity, the owner has coaxed the 302 back to life. The car runs and drives, but it is nowhere near roadworthy. The owner says that the clutch feels funny and that there is a drivetrain vibration. He believes that this is a faulty engine or transmission mount, but it will require investigation. If I were buying this car, I’d be inclined to pull the engine and transmission. That way, all of the seals could be replaced, the engine itself could be detailed, and the engine bay could be given a refresh. Once again, I believe that the results would be worth the effort.

If the buyer wanted to quickly return the Mustang to active duty, the interior would be classed as serviceable. However, there are a few marks and splits on some of the upholstered surfaces, so I’d probably be looking at new seat covers and a new carpet set to give it a boost. There is an aftermarket stereo fitted into the dash, but that is in keeping with the raft of other changes that the vehicle has received. It isn’t clear what state the headliner is in, but given how cheap and plentiful interior trim items are for 1st Generation Mustangs, whipping this one into shape shouldn’t cost a lot of money.

The bidding on this 1968 Mustang Fastback has been relatively subdued, but it has reached the point that you might expect for a car in this condition. I don’t think it will go a lot higher than the current level, but I have been wrong on that in the past. The changes made to the car are pretty typical of the era, and that isn’t a bad thing. I love to see a classic returned to its original factory state, but I doubt that will be the fate of this one. At least the buyer will have the chance to transform it into the Mustang of their dreams without the potential guilt of molesting a numbers-matching classic. That makes this a project car where the sky’s the limit, and it does make it a tempting proposition.