What should I ask for a 1966 Ford Mustang which is in need of a restoration? It is a 289 automatic coupe.?

Question

I am looking at a '66 Ford Mustang, a automatic 289 coupe. I really need a pricing guide like a checklist. I would like to know what makes it more valuable and what makes it less valuable. It would be great if someone could provide a checklist for all options of the car, for example if it's a V6 or a V8, because I'm not sure, or if there are certain aspects which need restoration, like rust, or cosmetic issues. The owner is reluctant to take the time to do the research, so I gave up on asking hopelessly for 6 months - and go ahead and do it for him. It does not run, and he says it needs to be restored. It will definitely need a new paint job, and likely some cosmetic work if not a lot. I dont know anything more than you know at this point. I'm not even 100% positive it is a 1966, but anything you can tell me helps, thanks.

What I know at this point is it hasn't been run in 20 years, I don't know why yet. It has been sitting in a garage under boxes, so we'll see about any rust. It should have all original parts but I will confirm that too. I'm not sure, but isn't rust supposed to be less of a problem here in California? Unfortunately, my pockets are anything but deep, so I'm not sure how well this will go but... I will find out and update later today hopefully about everything, like original parts, miles, reason for not running 20 years ago, rust and body condition, AC, make sure it is a V8, and a 1966 model for that matter, and get the VIN number, or other ID numbers I can find. Thanks for your help so far!

Answer 1

Coupes are not the gold mine that fastbacks are. Just picked up a Mustang Milestones from Mustang and Ford trader and there are many factors to consider. They range from 27k to 4.5k. If you have resto to do I'd say that around 5-8k would be fair if the person buying it considers it a 20 footer. As in it looks good from that far away. Of course that depends on what is under the hood. An 8 is always worth more than a 6. Post a different question with what your car has and I'll be able to tell you better what its worth.

Answer 2

The coupe is about the least desirable of the mustangs. The fastbacks and the convertibles garner the most money. Hopefully it will be a "K" code car with the HO289 engine. I doubt if it will though. Do a search on mustang sites and you will find people that know these things inside and out.

Do get the VIN number and have it decoded. That can tell you a lot about the car and what it originally had in it.

The dollar value of it will depend on its condition, and I take it that you haven't seen it yet? Does it run now?

Have some one knowledgeable to assist you with the purchase. You may find someone from a local Mustang club that would be willing to help you, with the pricing, and with the restoration or at least be able to tell you who to call that does good work.

Have deep pockets, by the way.

good luck with it.

Answer 3

Pay close attention to the front clip/frame area and the frame behind the front wheel wells. typical areas for rust in those years of mustangs. I have 6 out here from 65 to 68. Make sure its an original V8 car or an L6, they didnt have V6's back then. You can tell by the lugs on the wheels. Normally 4 means a 6 and 5 means an 8. Ask for the VIN and the numbers off of the body tag. Then you can decifer those and it will tell you a lot. Anymore questions me or my roomate know thoise Mustangs and have original books and manuals. Also I have a 68 coupe, original V8 car, Original AC car that I would consider selling

Answer 4

Plus options would be V8, C code 200 hp, A code 225 hp, K code 271 hp HiPerformance motor, automatic transmission, 4 speed manual, AC, PS, PB, Disc Brakes, GT package, Pony interior, Console, Bench front seat, Rally Pac, Vinyl top, Luggage or ski rack

Minus would be the six cylinder 120 hp T code

Prices start out at $2500 for running examples that need lots of work and have rust, to $15k for a restored one with some options.

Check the Nada Classic car price guide,
http://www.nadaguides.com/default.aspx?LI=1-22-1-5012-0-0-0&l=1&w=22&p=1&f=5013&m=1065&y=1966&c=7&da=-1&vi=71840&d=74
Nada starts them out at $5600, that would be for a fairly nice 6 cyl coupe

The first number in the vin code is the year, the last letter is the engine code, these can be found on a plate on drivers door and on the top of the fender drivers side.
Check out group for more information and photos.

Answer 5

I'd sya 2-5 grand depending on the condition of the paint. If it does indeed have a 302 and the interior is shot, I'd lean more towards the cheaper side. The coupes are not goldmines (even though I like them better than the fastbacks of the same year). The electrical system on those cars are very easy and shouldn't take you much time. If you do get it drain the tank, change ALL the fluids and turn the oil pump over with a drill before starting to make sure the cylinders have lube. Good luck and happy buying.

Answer 6

they didn't make a v-6 for those so your ok on that one,if its a original v-8 coupe,with the high performance 289 ,and doesn't have much rust on it,floor boards are solid in it,and it runs,1500 bucks is a good price for a starter car,any project car will be worth that,the more original it is ,and the less rust it has on it the more its worth,those cars rusted out real bad,and to find one that isn't rusty is kind of rare,it will cost you about 15 thousand to re-store it,i have done about 10 of those,and getting ready to start another one if it doesn't run that will bring the price down a little,expect to spend at least 15 thousand on it,no less,to make it right again,good luck on it.

Answer 7

Keep this in mind, engines and trannys are not that expensive to rebuild or replace. Replacing interiors (carpet, upholstery, headliners) gets expensive and body work is very expensive. As mentioned, those cars rusted out badly when in places with salted roads. Take along a refrigerator magnet and see if it sticks to the areas the other fellow mentioned. It'll stick to steel which is orginal or repaired correctly but won't stick to areas with body putty or fiberglass, a cheap often times temporary fix. Faded paint is to be expected but keep in mind that dings and dents are also expensive to repair. The list of importance is just as you see it, the outside is most important, the glass, the interior is next and last is the engine and drivetrain.

Answer 8

There are many Mustang sites for stang lovers and many knowledgable people that would only be to happy to discuss your concerns....if it is in dire need of restoration you should first consult your wallet...open it up and look in it...a resto project can get expensive in a hurry...get a mechanic to look at it for you....it will be worth the $50 bucks he will charge you to crawl around on it and give you an honest opinion of what you are up against......good luck

Answer 9

Is the frame/body rotten? is it origninal engine? how many miles on engine/body? If its a gt, is it a real gt or clone? Basicaly find out whats original, what not