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1st Generation Mustang


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One car I always wanted but never owned yet is a gen 1 Mustang.  My dad had a friend from work who bought one, I assume new, as I recall riding in it in the late 60s at maybe age 7.  White over red interior coupe.  Any thoughts on value curve on these cars?  Any other early Mustang conversation starters?

 

Was Colonial white the right, only white for the 64.5, 65, 66 cars?  Curious as some whites look wrong, maybe they are not.

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I believe the white on first-gen Mustangs was Wimbledon White, although there was a Pace Car White for the Pace Car replicas.  Obviously, anything can happen over the course of 55 years.  As far as values are concerned, I don't think regular Mustangs will probably appreciate or depreciate much at this point (Shelbys, Bosses, and the like notwithstanding).  They're rugged and easy to find parts for and you can be a little picky because they're easy to find.  Other than rust, there aren't any serious dealbreakers.  I'm not a big fan of the shock towers on old Fords, but that's no reason not to buy one if you like them.  Millions of people love them for a reason.   

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Thanks Aaron.

 

I tend to agree on prices;  I would imagine parts are Model A easy.  Could be the next thing if the boy's threats to buy a house with garage space for "his" 89 SL comes to fruition...

 

I would seek a turnkey car, that muxh I have learned over the years... 😊

Edited by Steve_Mack_CT (see edit history)
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1832884260_2018-09-1508_50_24.thumb.jpg.9842dd91ea4c8ff84e244112e7ed040c.jpg

 

Melanie's '66 GT convertible is a joy to drive. Remarkably smooth ride and plenty punchy. The faster you go, the better it works. EVERYBODY loves early Mustangs, they're as close as you can get to a "universal" hobby car. Beloved everywhere. Almost every part you will ever need is a phone call away and cheap. New gas tank with sending unit? $100. Fuel pump? $20. Taillight housing? $60. Brutally simple cars that are really easy to work on. Want power steering? It bolts on. Disc brakes? Bolt on. 5-speed transmission? Bolts right in. Add a power top? Bolts in. A/C? Bolt on. You get it.

 

Rust is fatal, so get a clean one--they're still pretty easy to find. Pay a premium to avoid rust.

 

I think values are inching up on V8 cars, particularly convertibles. We paid about $25,000 for the GT seven years ago, if we were to sell it, I'd list it for sale now at $35,000. And if you're on a budget, don't overlook the 200 inline-6, which has pretty peppy performance and bulletproof reliability along with bargain prices--just get a manual transmission. You can buy the nicest Mustang V8 coupe in the world for under $25,000, making it a pretty big bang for the buck. Fastbacks bring a substantial premium, maybe one of the rare cases where a closed car is worth more than a convertible. '69-70 fastbacks are maybe the best-looking Mustangs ever built but '69-70s are also the worst-looking coupes, so the prices are VERY reasonable there if you don't mind the homely.

 

Can't go wrong with an early Mustang. Great hobby cars.

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Allow me to say two words "Torque boxes".

 

Actually.... Steve I will spend my own time to spend your own money to find you the right car.    It needs to be a 65 K code fastback with the 4 speed and never rusted history.   Otherwise I've lost interest 😁

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Ok AJ, fair enough as I have egged you on enough over the years.  FB cars are my favorite, but I like all the 1st. Gen cars.  I have passed on a couple over the years, and it has been over 20 years since I last drove one, a 65 or 66 coupe I was contemplating a co worker was selling.  Right colors as well but pretty needy...

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Just now, Steve_Mack_CT said:

I could live with the blue! 👍 one of my "should couldas" was a black fb during HS.  Rust scared me and I grew up in a GM house so I ended up with a camaro.

 

Part of being young is not realizing how bad something is.   I bought my GTO vert in HS because I liked the color  and the dash tach.   My dad and I welded up the entire car with gas torches.   I mean the ENTIRE car.   It looked good done but I wonder what someone thought 30 years later when they went to restore it and saw what was underneath.

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That coupe is sharp.  I got a chuckle out of your gas torch welded GTO - my Mustang is much the same.  It's a family heirloom that my dad and I learned on 30 years ago.  It looks pretty nice, but someone someday is going to wonder why we bothered with such a rust bucket.  Let's just say it's not going to win any shows based on the appearance of the rust repairs (basically the whole car).  I went through and installed all new panels down the sides 10-15 years ago - it's better, but not better enough to fool anyone.  :)  

111_0653.JPG

Edited by Aaron65 (see edit history)
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1 hour ago, alsancle said:

I can't find my login to get the price but this would be a good start.  EDIT:  Just sits a little high in the back.

 

https://www.barrett-jackson.com/Events/Event/Details/1965-FORD-MUSTANG-GT-K-CODE-223622

223622_Side_Profile_Web.jpg

 

$90,200.

 

Even for a K-code, that seems like a pretty big number...

 

I'm one of those weird guys who thinks the coupes are attractive. Of course, this is my Mustang:

 

Profile.jpg

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Just got an update from a pal who has had his fox body since 91, a non GT v8 4 speed car.  He went to visit it in storage over the weekend.  I need to get him on this site now if we can get a viable Mustang section up beyond this one thread..

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1 hour ago, alsancle said:

Does it have to be a first generation?  If you spread your wings a bit you will quadruple your choices.

For me yes.  I do like the later cars but thats my favorite of the breed.  But if you buy a boss or other and want to let me try the fit that could work AJ 👍😁

Edited by Steve_Mack_CT (see edit history)
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44 minutes ago, Steve_Mack_CT said:

Aaron that looks great! Amazing these were collected as early as the mid, late 70s.  They were everywhere but, solid ones were tough to find locally here in CT!  

It's funny to think that people saw these as "classics" when they were 10 years old - today, that's a 2011 Mustang!  Heck, my wife drives a 2012 as her all-year daily driver, and I wouldn't think of it as collectible at all.  That brings up one more thing to look at - the cowls rust on almost all early Mustangs, and the repair is intrusive.  The cowl was left almost untreated at the factory, and leaves and dirt plug up the drain holes, and all of a sudden, you have rain leaks all over the floors, and then the floors rust out.  Make sure to stick a flashlight under the dash on both sides and take a good look!

Edited by Aaron65 (see edit history)
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Yes I remember that, Aaron.  My ideal car is a super clean original, followed by a longterm owner car that has had refurbishment (a lot like yours, cars that have been loved over the years usually show it), followed by a newer restoration. 

 

I will say a very complete, rust free car needing resto would still result in over investing, but feels a little more predictable like a Model A vs. say a Hudson or Nash.  A considetation but I think enough of choices 1,2 & 3 are out there.

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Steve,

 

I don't own any Mustangs anymore but this thread made gave me a bit of nostalgia.   I've had 4 Mustang/Shelbys and 2 Cougars (which are identical save sheetmetal).   This was one of the nicest.   It was originally sold new to California and a guy from Mass bought it in the 80s and took the motor out to build a drag car.   It sat for years and years until Lib bought it.   It had the nicest floor pans of any musclecar I've ever seen.  It brand new.   Like an IDIOT I begged Lib to sell it to me for years and once he did I spent a small fortune putting it all back together.    It was a 351 Cleveland 4 speed Posi car.   

Mustang-2.jpg

Mustang-1.jpg

mustang-3.jpg

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On 2/16/2021 at 8:22 AM, Matt Harwood said:

 

$90,200.

 

Even for a K-code, that seems like a pretty big number...

 

I'm one of those weird guys who thinks the coupes are attractive. Of course, this is my Mustang:

 

Profile.jpg

 

 

The early cars (65-66) bring a premium.   I know for a fact this thing sold for 95k all in with a restoration that cost much more than that.   I love the K code,  but would take the Shelby all day long.

 

IMG_4943.JPG

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This was taken in the winter a couple years back, we parked next to what appeared to be an original condition fb getting some air at a MA restaurant.  Roads were clear.  Didn't get to speak with the owner though.

20190127_120601.jpg

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1 hour ago, Aaron65 said:

No judgment here for sure, but that one's had some quarter work done.  It's missing the wheel lip completely.

 

I'm guessing radiused for mags at one point.

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Yes clear in pic.  Didn't recall noticing those wheelwells but it was cool to see a fb that was neither perfect or junk (seems $20k gets a rustbuggy), I have actually seen some coupes converyed to fastbacks _wild!

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