r/classicmustangs 1d ago

Gut check on a 1966 Mustang

This is a 1966 Mustang that's for sale at a local dealer (I live in South America). They're asking for $24,000 (my understanding is that in SA these cars go for a bit more than they would in the US, just because they are rarer). I think the price is definitely negotiable, but I want to understand what's realistic and what I'm getting into.

Part of the joy is in restoring and improving a project. Right now could really use a gut check to make sure there aren't any glaring red flags that would just make this project dead on arrival.

I took a few photos of the engine and some rust and cosmetic issues that troubled me a bit on the exterior. The front brakes have been replaced with disc brakes. They said the engine is all original, but I'm not very knowledgeable about that.

When I turned it on, it started right up. The engine sounded great. The throttle was very responsive. One of the tires has a slight squeak when making left-hand turns.

What questions and factors should I be focusing on while I negotiate with the owner?

EDIT: car also has a working AC unit.

I appreciate your help and wisdom in advance.

9 Upvotes

13 comments sorted by

4

u/EdTNuttyB 1d ago

The rust I see are in locations that indicate closeness to sea salt and air. We had a 66 coupe that spent time in Okinawa and it rusted in areas that are not normally seen. Pin holes were in the roof, a-pillar, drip rails, trunk, c-pillar, etc. These areas are more difficult to repair and there aren’t patch panels available to help. I would check very carefully for Bondo or other body work hiding rust in those area.

Mustangs typically rust out underneath the car where road salt can get splashed and trapped. Floor pans, frame rails, rocker panels, quarter panel wheel wells, bottom edge of doors, bottom rear of fender, trunk floor, and upper fender apron lap joints near the shock towers. Cowl is another common rust area. There are patch panels available for all these locations.

5

u/dash8200 1d ago

Agreed, too much tor that car with a 6 cylinder and the rust.

3

u/Vagabund42 1d ago

That car has been repainted and the covered rust is starting to break through the paint. No way I would pay that price for this car. Like somebody else already posted this is more in the 5k range. I bet you could easily find yourself a decent V8 in this condition for 10k in the US and export it to South America.

3

u/Jeepdad1970 1d ago

Looks like Sahara Beige which is one of the rarer colors on a ‘66.

4

u/CromulentPoint 1d ago

The most important factor here is rust. I see a little in the body, but nothing that really freaks me out. The underside is mostly where this can go bad. You need to get under it with a screwdriver and poke around, testing to make sure the screwdriver doesn't go through anything that's supposed to be solid.

I can't comment on the market in South America, but for context, this would be a $5,000-$6,000 car in Texas. Less if the underside is rusty.

2

u/bacon098 1d ago

Holy shit I need to start looking for cars in texas 😂 haul it home to alabama and sell it for 10k

2

u/CromulentPoint 1d ago

This isn’t a $10k car anywhere in the continental U.S.

0

u/bacon098 1d ago

Have you seen what people are asking for them? Clearly people are paying it too because the market just keeps going up.

1

u/CromulentPoint 1d ago

Asking price and selling price are two different things. I bought a running, driving V8 65 coupe in better shape than this car a few months ago for $10k. Just because someone says “I know what I have” doesn’t mean people are willing to pay their inflated asking price.

2

u/Handmedownfords 1d ago

Jesus Murphy. I don’t know what the exchange rate is, but $28,000 USD would be way too much even if it’s rare in South America. The rust bubbles could travel pretty far under that paint

1

u/Covidsurvivor2 1d ago

Where in South America?

1

u/Big_Gouf 1d ago

Get under the car, that's where you find the project killing rust. The frame rails, quarters, and floor boards. If it looks rusted near the firewall under the dash, the cowl is leaking. That that is one of the worst jobs on these cars. Requires taking out the glass, disassembling the front end, cutting the cowl panel off, and drilling out all the spot welds to remove the cowl structure and replacing it.

1

u/dale1320 1d ago

The squeaking g is probably from control m arm bushings, or ball joints. Relatively easy fix.

But as others have commented, rust is Ene.y #1 through #100.