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Discussion Starter #1
Went and looked at one last night. Guy has owned it since '71 and bought it form his cousin who bought it new. Has original window sticker which shows it to be a true GT. All GT equipment is present. Car has been off the road 30 years. Was repainted poorly. Absolutely no body rust, checked it over closely. Only rust on car is in rear rear rails where shackles bolt up, a little around one floorpan body plug, very minor in the front torque boxes, and behind one front bumper bracket, none of the rust is bad. Original 390 Engine was pulled 25 yrs ago after dropping a valve, heads were redone at that time and shortblock is on a stand. 4spd still in car. Has a 3.91 Detroit Locker in it, but original 3.25 is included. Interior is in great shape, drivers seat ripped. Has upper and lower console, 8k tach dash, original am/fm radio. Cracked windshield.

I used to own one, although it wasn't a GT. I used to know quite a bit about these cars, but its been awhile. From searching here and other sites, I've come to the conclusion that roughly 800 '68 390 GT 4 spd coupes were made. I am probably going to buy it, just seeing if anyone on here is familiar with these cars and can give me an idea on value.
 

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Going by the book from Marti Auto Works who has Ford data base info, for 1968 HT "S" code 4spd stangs, there 1,194 made.

So sounds like new paint, new windshield, front seats recovered, (take a look at seat belts to see if those work), rebuild engine, maybe trans and rear end need to be gone thru. Does tach work? Condition of wiring harness?

Depending on what you take the restore to, I'd take a guess $18-22k range.
 

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If you do buy the car - I would buy the extra 3.25/trac loc diff off you! ;)
 

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The 8K tach is either an assembly line anomaly or previous owner swap out.
Every factory S-code I've seen (with a tach) had a 6000-rpm unit.
The 8 grand tach you'd see on Shelbys and 428 Mustangs.
 

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It is tough to say without a detailed inspection.

There are a lot of potential costs like:
- rebuild engine
- rebuild transmission with new clutch
- wiring harnesses might need repair or replacement
- new brakes
- new brake/fuel lines
- new tires
- old body damage surprises

All in addition to the paint, interior, known rust issues.

It is a super cool car and desirable. I am thinking closer to $15k

You will have over $30k into it when nicely done. And that is close to market value.
 

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Discussion Starter #7
The 8K tach is either an assembly line anomaly or previous owner swap out.
Every factory S-code I've seen (with a tach) had a 6000-rpm unit.
The 8 grand tach you'd see on Shelbys and 428 Mustangs.
According to other posts here the 8k tach was used in '68.
 

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Discussion Starter #10
It very well may be a 6k tach, I didn't look that close. Bought the car. He's going to get all the parts that are off it organized and I will pick it up next week. I'll be sure to post pics!
 

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Good luck with the car! Sounds like a cool car. I agree that I would be little surprised that an 8k tach was in there but I have seen a lot a mustangs and know anything is possible. That does not mean anyone in their right mind would take a 390 to 8k too often lol. Can wait to see the pics
 

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The 6k or 8k tachs for 68 may also be tied to plant change overs. Generally from what I've read most got the 8k tach. But with Ford who knows.

I also know for 67, tachs were an option for all cars except an S code GT with manual trans, it was stock on those (my 67). Not sure about 67 K codes (though those had 8k tachs) or if same was true going into 68
 

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Its a coupe, slightly apart, needs paint, needs some rust correction, needs some engine work.
I'd say $12,000 to $15,000. Unless you want to pay extra for the sentimental value
 

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https://www.hagerty.com/apps/valuationtools/1968-Ford-Mustang-GT?id=126503

Now information numbers base on a base 390coupe, add 10% because a 4 spd. So if their #4 condition a fair drive is ~ $22k, then gotta think you have a value a bit less. Not a junk box, and minor rust. I still thin value in mid teens. Below from Hagerty:

Current & Historical Values
View current vehicle values and see how they’ve changed over time in 3-year, 5-year and to-date intervals. Compare these values to other vehicles and benchmark financial indices.
Current Values
#1 Concours
$61,500

#2 Excellent
$47,500

#3 Good
$35,000

#4 Fair
$22,600

#4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. "Fair" is the one word that describes a #4 vehicle.
Value Adjustments
+10% for 4-spd. -10% for 6-cyl. -5% for auto. +6% for a/c.
 

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Discussion Starter #17
Thanks for the info guys, it really helped with my decision. I am planning to go to the guys house mon or tues and pick up all the parts that are off the car. Pretty much the engine, front bumper, valance, radiator, clutch/flywheel, 3 extra styled steel wheels/trim rings/caps, new shocks, etc. And then come back the next day for the car, its in another location. His house is in a bad spot on a curve on a very busy road, would be nearly impossible to get in/out with my trailer.
 

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Thanks for the info guys, it really helped with my decision. I am planning to go to the guys house mon or tues and pick up all the parts that are off the car. Pretty much the engine, front bumper, valance, radiator, clutch/flywheel, 3 extra styled steel wheels/trim rings/caps, new shocks, etc. And then come back the next day for the car, its in another location. His house is in a bad spot on a curve on a very busy road, would be nearly impossible to get in/out with my trailer.
So, sounds like you bought it, congrats. Can you share what you paid? Like to know how good our guess was.
Do lots of research, plan out to what level you wanna restore it to.
Good luck
 

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Looking fwd to seeing pics.
What is the color combo?

I have my have first Stang...a 68 GT 390 cpe.

Those Hagerty values crack me up. I think anyone would have a hard time finding a
67 or 68 GT 390 cpe that has sold for more than 35K.
 
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