TT_GT
10-30-2007, 06:58 AM
Hobbyist Information / Buyers Guide / Price Guide
The Ford Mustang was introduced in 1964. The car was an instant success that set a new record for first year sales. One story describes how a truck driver drove right through a showroom window, staring and enchanted by the car.
The car was the brainchild of Lee Iaococca, who envisioned an inexpensive, sporty car for the masses. On April seventeenth, 1964 Ford unveiled the Mustang Convertible at the New York Worlds Fair. These cars and others with early production features are often referred to as 1964 1/2 model year. The car was also offered as a hardtop coupe, the fastback was available to the public five months later ( see our Photo Gallery for pictures ).
During the first five months of production, one could order a factory fresh hardtop equipped with a 170 cubic inch six cylinder engine for less than $2500 (1964). Later, the car could could be purchased with a 200 cubic inch six, or a 200 horse power 289 c.i. V8. Specialty Mustangs, such as the "K" Code or Shelby came with even more powerful V8 engines.
Transmission choices for any 64 1/2 through 1968 Mustang were three speed manual, four speed manual, or automatic with the latter being the most popular. The body sheet metal for 64 through 66 Mustangs are identical. The different years are distinguised by subtle trim changes.
For the 67/68 model years, there were minor changes in the body (except for the Fastback that went form a partial to a full fastback). The engine compartment was three inches wider allowing for a big block V8. The tail light area above the bumper was concave, and the grill opening was larger ( click coupe for pics of changes). In 1968 cars Ford did not change the body except for minor trim changes, side marker lights and other government mandated safety features.
For 1969 the Mustang received a makeover. The cars still had the long hood and short rear deck that was the trademark of its predecessors, but the sculpt was longer, wider and more aggressive. Specialty models were added to the lineup. The 69-70 Boss, Mach 1 Fastback, and Luxury Grande offered a variety of performance and dress up packages. Stylist changed the car in subsequent years, but the 64 1/2 through 70 Mustangs remain the most popular amongst collectors.
There were over two million Mustangs sold between 1964 and 1970. Parts are easily obtainable. After market companies offer fenders, hoods, interior kits, mechanical parts and almost anything you might need.
--------------------------------------------------------------------------------
Buying a Vintage Ford Mustang
The Mustang was originally offered by Ford with a variety of options. A discriminating buyer could outfit his car as anything from a stylish, well built transportation car to a nimble, high powered racer. Today's buyer has a choice of everything from a vintage Mustang coupe that can double as a second car (for about $11,000) to a rare, highly collectable '68 Cobra Jet with a 428 Ram Air engine. Your choice of a car will depend upon your budget and intended use.
The early Mustangs are a good choice for a first collector car. There are many informal car shows across the U.S
and abroad where you can "show and swap", and get advice from other enthusiast . The cars are easy to drive and maintain . As a 40 year old car there will always be maintenance and occasional repairs to do ; overall a #2 condition car should not present major problems. Ford used the same engine (block) and other components from the car for many years in different models. Some parts i.e starters, alternators will be less costly than comparable parts for a modern car . Other than major engine or transmission overhauls repairs are easy to do, there is a lot of room to work under the hood, and a good shop will charge accordingly.
When considering a prospect the buyer should be wary of these items:
1. Originality...has the car been unprofessionally modified in such a way that adversely effects handling or performance? Does the exterior color and interior trim duplicate 1960's factory offered combinations? Are aftermarket items added to the car period correct?
2. Mechanical Condition..are all major components i.e. engine, transmission, drivetrain, front end, brakes serviceable? A car with components in need of work would not automatically disqualify it, but cost of repairs should be factored in to negotiated selling price.
3. Bodywork and Rust...has the car been in a severe accident to the point where major body components such as torque boxes and undercarriage have been straightened or incorrectly repaired ? What is the condition of door panels, fenders, quarter panels etc. ?
While these are 40 year old cars and some amount of rust or body repair can be anticipated, stay away from cars that have had extensive, poorly done repairs or are total rustbuckets !
Cars that have spent their lives in dry climates such as the American Southwest are often found as original examples with little rust.
--------------------------------------------------------------------------------
Buying a Restored or Original Car .....Understanding Condition !
The terms original and restored are often misused.
Original ... the very same part (i.e. engine block, fender, paint , seat fabric ) that came from the factory in the year the car was made, has never been replaced or painted. If the part has been replaced or painted and the work duplicates the look, color, or operation of the factory made part, it is "restored as original".
Most 40 year old cars have had paint and interior "restored as original" (new paint /fabric). Mechanical components wear out and may be replaced with new parts that that are identical to 40 year old components but have no wear and tear and work as new.
An original car is not inherently more valuable than one that has had some parts restored as original. The exception to this rule is the fabled low mileage car that has been sitting in Grandfathers dry, climate controlled, pest free barn since he lost his spectacles in 1968. The car is cosmetically very presentable ( #2 condition) and and all components are "Ford Factory Made" in excellent working order , just needs a new battery and drive it away .
Restored... you will often hear someone point to a classic car and ask with enthusiasm "is it restored" ? Strictly speaking, a restored car is an excellent #1 condition showcar. Practically every mechanical part on the car has been replaced with a freshly manufactured aftermarket part (or NOS new old stock part), or repaired to factory new tolerances. Cosmetically, components have been replaced / repainted / rechromed / reupholstered, including metal, interior panels and hardware, seat covers and carpet, ......or the car has been sitting in the twilight zone . There are few true #1 condition cars in existence.
Most collector cars are #2 and #3 condition. They are a combination of "restored as original" and good, presentable, operable original components.........the car has been partially restored.
Showcar or show quality... strictly speaking, a national class "councours" showcar is a #1 or strong #2 condition car with every part excellent original or restored as original, i.e. down to the factory decal that tells you how to operate the jack. These cars compete with other cars of the same model i.e. Mustang vs. Mustang and are rarely driven. After being on the road for more than a short distance , they are professionally cleaned inside and out, and put back into storage.
Informal "showcars" are very presentable with few obvious flaws to the casual observer. The cars are driven on a regular basis. They might have wear comparable to what you would find on a 8 year old "new" car, i.e. small parking lot door dents , carpet showing some wear or soil, etc. They might compete in informal local shows and judged alongside a variety of other makes and models. These are #2 to #3 condition cars .
Old car....21st Century Drivetrain ?
We are often asked about finding a 1960's car with new, carefree 21st century designed mechanical components. Since aftermarket ( new or reconditioned ) replacement parts from engines to doorhandles are widely available, there is little reason to make a 21st century designed part fit and work on a vintage Mustang. What they are really after is a reliable #2 condition car .
The exception to this rule are the breed of enthusiast who are into hotrodding or making resto-mod ( restored and modified ) cars. Complete kits are availible for modern upgrades such as rack and pinion steering, 4 wheel disk brakes and engine performance packages. Modifications and installation are best left to knowledgeable gearheads.
--------------------------------------------------------------------------------
Price Guide
The condition / price guides below indicate realistic prices for vintage Mustangs.
CONDITION GUIDE
#1...Perfect showcar, museum piece.
#2...Excellent...has some minor flaws not noticeable to the casual observer, garaged and pampered, good original / restored as original in all details. Mechanically sound. Often has many desirable options .
#3...Very Good..... a "driver", with intact paint and interior ; presentable in and out, showing wear and having flaws. Mechanically, major components are functional.
# 4... Good to Fair... needs paint, body or interior work OR looks good but close inspection reveals excessive body filler or rust. Mechanically questionable. A project car. Sorry, we do not deal in these cars!
--------------------------------------------------------------------------------
PRICE GUIDE
Putting a price tag on a collector car is subjective.
Cars needing work ( i.e. several mechanical components worn or paint / interior and trim marginal ) are often overvalued by seller. To its owner, a car with a tear in the drivers seat may need "just a small seam repaired", but to a discerning buyer the interior will show wear that calls for replacement of the seatcovers, doorpanels, and carpet .
Low priced "project cars" needing work seem like a bargain, but a zealous buyer could spend more on restoration than the finished car is worth. Project cars require a through inspection to determine the cost of cosmetic or mechanical repairs needed to bring them up to #3 or #2 condition . A low mileage car in and of itself does not raise value, what is more important is the condition of the car.
Cars that have been restored in most details or are well maintained and preserved examples appeal to any observer. Examples with many factory original options such as the Deluxe/Pony Interior or high horsepower engines are sought after by collectors. Highly optioned cars (or rare limited production cars like the Shelby) in excellent cosmetic and mechanical condition command premium prices.
The following price guide is for Coupes, Convertibles and Fastbacks with standard interior , 289 V8 engine and automatic transmission. A buyer might pay more or less depending on variables such as set of options or documentation of recent major repairs .
Highly optioned cars will run towards the top or exceed these ranges i.e. strong #2 condition convertible, excellent cosmetics, strong drivetrain, center console, rally package, styled steel wheels, power top or other mix of extra's will sell for $28,000 on up. For examples of some of these cars and options, see our Photo Gallery .
Price Guide for Basic Mustang
V8 engine, automatic transmission
1964 1/2- 1968 Model Years Base Price #3 Condition #2 Condition
Coupe $7000-$9,000 $11,500-$16,000
Convertible $18,000-$22,500 $24,000-$28,500
Fastback $18,000-$22,500 $24,000-$28,500
For These Major Options Add Cars with all possible options ...... add 20 % to base price
*Factory GT Equipment Group......add 18 % to base price
*Deluxe Pony Interior, two tone...add $1800
*4 speed manual transmission.........add $2000
*Factory installed original or "numbers matching" options run
towards the top of these ranges or more.
1969 -1970 Deduct Apprx. 15%
Guides do not include specialty cars such as Shelby's, Mach 1, and Boss models.
The Ford Mustang was introduced in 1964. The car was an instant success that set a new record for first year sales. One story describes how a truck driver drove right through a showroom window, staring and enchanted by the car.
The car was the brainchild of Lee Iaococca, who envisioned an inexpensive, sporty car for the masses. On April seventeenth, 1964 Ford unveiled the Mustang Convertible at the New York Worlds Fair. These cars and others with early production features are often referred to as 1964 1/2 model year. The car was also offered as a hardtop coupe, the fastback was available to the public five months later ( see our Photo Gallery for pictures ).
During the first five months of production, one could order a factory fresh hardtop equipped with a 170 cubic inch six cylinder engine for less than $2500 (1964). Later, the car could could be purchased with a 200 cubic inch six, or a 200 horse power 289 c.i. V8. Specialty Mustangs, such as the "K" Code or Shelby came with even more powerful V8 engines.
Transmission choices for any 64 1/2 through 1968 Mustang were three speed manual, four speed manual, or automatic with the latter being the most popular. The body sheet metal for 64 through 66 Mustangs are identical. The different years are distinguised by subtle trim changes.
For the 67/68 model years, there were minor changes in the body (except for the Fastback that went form a partial to a full fastback). The engine compartment was three inches wider allowing for a big block V8. The tail light area above the bumper was concave, and the grill opening was larger ( click coupe for pics of changes). In 1968 cars Ford did not change the body except for minor trim changes, side marker lights and other government mandated safety features.
For 1969 the Mustang received a makeover. The cars still had the long hood and short rear deck that was the trademark of its predecessors, but the sculpt was longer, wider and more aggressive. Specialty models were added to the lineup. The 69-70 Boss, Mach 1 Fastback, and Luxury Grande offered a variety of performance and dress up packages. Stylist changed the car in subsequent years, but the 64 1/2 through 70 Mustangs remain the most popular amongst collectors.
There were over two million Mustangs sold between 1964 and 1970. Parts are easily obtainable. After market companies offer fenders, hoods, interior kits, mechanical parts and almost anything you might need.
--------------------------------------------------------------------------------
Buying a Vintage Ford Mustang
The Mustang was originally offered by Ford with a variety of options. A discriminating buyer could outfit his car as anything from a stylish, well built transportation car to a nimble, high powered racer. Today's buyer has a choice of everything from a vintage Mustang coupe that can double as a second car (for about $11,000) to a rare, highly collectable '68 Cobra Jet with a 428 Ram Air engine. Your choice of a car will depend upon your budget and intended use.
The early Mustangs are a good choice for a first collector car. There are many informal car shows across the U.S
and abroad where you can "show and swap", and get advice from other enthusiast . The cars are easy to drive and maintain . As a 40 year old car there will always be maintenance and occasional repairs to do ; overall a #2 condition car should not present major problems. Ford used the same engine (block) and other components from the car for many years in different models. Some parts i.e starters, alternators will be less costly than comparable parts for a modern car . Other than major engine or transmission overhauls repairs are easy to do, there is a lot of room to work under the hood, and a good shop will charge accordingly.
When considering a prospect the buyer should be wary of these items:
1. Originality...has the car been unprofessionally modified in such a way that adversely effects handling or performance? Does the exterior color and interior trim duplicate 1960's factory offered combinations? Are aftermarket items added to the car period correct?
2. Mechanical Condition..are all major components i.e. engine, transmission, drivetrain, front end, brakes serviceable? A car with components in need of work would not automatically disqualify it, but cost of repairs should be factored in to negotiated selling price.
3. Bodywork and Rust...has the car been in a severe accident to the point where major body components such as torque boxes and undercarriage have been straightened or incorrectly repaired ? What is the condition of door panels, fenders, quarter panels etc. ?
While these are 40 year old cars and some amount of rust or body repair can be anticipated, stay away from cars that have had extensive, poorly done repairs or are total rustbuckets !
Cars that have spent their lives in dry climates such as the American Southwest are often found as original examples with little rust.
--------------------------------------------------------------------------------
Buying a Restored or Original Car .....Understanding Condition !
The terms original and restored are often misused.
Original ... the very same part (i.e. engine block, fender, paint , seat fabric ) that came from the factory in the year the car was made, has never been replaced or painted. If the part has been replaced or painted and the work duplicates the look, color, or operation of the factory made part, it is "restored as original".
Most 40 year old cars have had paint and interior "restored as original" (new paint /fabric). Mechanical components wear out and may be replaced with new parts that that are identical to 40 year old components but have no wear and tear and work as new.
An original car is not inherently more valuable than one that has had some parts restored as original. The exception to this rule is the fabled low mileage car that has been sitting in Grandfathers dry, climate controlled, pest free barn since he lost his spectacles in 1968. The car is cosmetically very presentable ( #2 condition) and and all components are "Ford Factory Made" in excellent working order , just needs a new battery and drive it away .
Restored... you will often hear someone point to a classic car and ask with enthusiasm "is it restored" ? Strictly speaking, a restored car is an excellent #1 condition showcar. Practically every mechanical part on the car has been replaced with a freshly manufactured aftermarket part (or NOS new old stock part), or repaired to factory new tolerances. Cosmetically, components have been replaced / repainted / rechromed / reupholstered, including metal, interior panels and hardware, seat covers and carpet, ......or the car has been sitting in the twilight zone . There are few true #1 condition cars in existence.
Most collector cars are #2 and #3 condition. They are a combination of "restored as original" and good, presentable, operable original components.........the car has been partially restored.
Showcar or show quality... strictly speaking, a national class "councours" showcar is a #1 or strong #2 condition car with every part excellent original or restored as original, i.e. down to the factory decal that tells you how to operate the jack. These cars compete with other cars of the same model i.e. Mustang vs. Mustang and are rarely driven. After being on the road for more than a short distance , they are professionally cleaned inside and out, and put back into storage.
Informal "showcars" are very presentable with few obvious flaws to the casual observer. The cars are driven on a regular basis. They might have wear comparable to what you would find on a 8 year old "new" car, i.e. small parking lot door dents , carpet showing some wear or soil, etc. They might compete in informal local shows and judged alongside a variety of other makes and models. These are #2 to #3 condition cars .
Old car....21st Century Drivetrain ?
We are often asked about finding a 1960's car with new, carefree 21st century designed mechanical components. Since aftermarket ( new or reconditioned ) replacement parts from engines to doorhandles are widely available, there is little reason to make a 21st century designed part fit and work on a vintage Mustang. What they are really after is a reliable #2 condition car .
The exception to this rule are the breed of enthusiast who are into hotrodding or making resto-mod ( restored and modified ) cars. Complete kits are availible for modern upgrades such as rack and pinion steering, 4 wheel disk brakes and engine performance packages. Modifications and installation are best left to knowledgeable gearheads.
--------------------------------------------------------------------------------
Price Guide
The condition / price guides below indicate realistic prices for vintage Mustangs.
CONDITION GUIDE
#1...Perfect showcar, museum piece.
#2...Excellent...has some minor flaws not noticeable to the casual observer, garaged and pampered, good original / restored as original in all details. Mechanically sound. Often has many desirable options .
#3...Very Good..... a "driver", with intact paint and interior ; presentable in and out, showing wear and having flaws. Mechanically, major components are functional.
# 4... Good to Fair... needs paint, body or interior work OR looks good but close inspection reveals excessive body filler or rust. Mechanically questionable. A project car. Sorry, we do not deal in these cars!
--------------------------------------------------------------------------------
PRICE GUIDE
Putting a price tag on a collector car is subjective.
Cars needing work ( i.e. several mechanical components worn or paint / interior and trim marginal ) are often overvalued by seller. To its owner, a car with a tear in the drivers seat may need "just a small seam repaired", but to a discerning buyer the interior will show wear that calls for replacement of the seatcovers, doorpanels, and carpet .
Low priced "project cars" needing work seem like a bargain, but a zealous buyer could spend more on restoration than the finished car is worth. Project cars require a through inspection to determine the cost of cosmetic or mechanical repairs needed to bring them up to #3 or #2 condition . A low mileage car in and of itself does not raise value, what is more important is the condition of the car.
Cars that have been restored in most details or are well maintained and preserved examples appeal to any observer. Examples with many factory original options such as the Deluxe/Pony Interior or high horsepower engines are sought after by collectors. Highly optioned cars (or rare limited production cars like the Shelby) in excellent cosmetic and mechanical condition command premium prices.
The following price guide is for Coupes, Convertibles and Fastbacks with standard interior , 289 V8 engine and automatic transmission. A buyer might pay more or less depending on variables such as set of options or documentation of recent major repairs .
Highly optioned cars will run towards the top or exceed these ranges i.e. strong #2 condition convertible, excellent cosmetics, strong drivetrain, center console, rally package, styled steel wheels, power top or other mix of extra's will sell for $28,000 on up. For examples of some of these cars and options, see our Photo Gallery .
Price Guide for Basic Mustang
V8 engine, automatic transmission
1964 1/2- 1968 Model Years Base Price #3 Condition #2 Condition
Coupe $7000-$9,000 $11,500-$16,000
Convertible $18,000-$22,500 $24,000-$28,500
Fastback $18,000-$22,500 $24,000-$28,500
For These Major Options Add Cars with all possible options ...... add 20 % to base price
*Factory GT Equipment Group......add 18 % to base price
*Deluxe Pony Interior, two tone...add $1800
*4 speed manual transmission.........add $2000
*Factory installed original or "numbers matching" options run
towards the top of these ranges or more.
1969 -1970 Deduct Apprx. 15%
Guides do not include specialty cars such as Shelby's, Mach 1, and Boss models.