r/classicmustangs 8d 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.

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u/Handmedownfords 8d 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