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I’m looking at a 65 mustang fastback, red with black interior. Very clean inside/outside/under with the exception of some oil underneath up near the motor/trans. Owner isn't sure of the source but may be the aftermarket power steering. It’s a 6 cylinder car that was swapped to v8. It has a basic, as it would have come from the factory 289, not sure if it’s 2/4bl, 3 speed manual trans and 8” rear end. The previous owner who restored it put on a lot of gt items, wheels, exhaust, grill lights(there but not functional) fender badge. It has an aftermarket power steering system in it but he says it’s not working. Could just be low on fluid from leaking, could have a burnt up pump. I haven't asked him if he’s checked or tried to add fluid, probably do that before I make the drive to go see it. The guy that owns it isn't much of a car guy and doesn't know a whole lot about it. It was passed to him and he said he doesn't have the time or desire to work on it and wants to see it go to someone who does. He’s had it for 5 years and it’s been in the family since mid 90’s. The guy his dad bought it from was the one who bought it out of a barn and restored/v8 swapped it.

Best case scenario it needs power steering fluid, maybe a tune up and it’s good to go. Worst case it needs the power steering fixed Or returned to manual steering, rear main seal or other oil leak(s) fixed, tune up and it’s good to go.

I told him 26-28 depending on what I see in person. He has it listed at 35 but said he could do 32-33. I’m seeing similar original v8 cars sell in the high 20’s. Some maybe not as clean but still very nice with better performance, hotter engine, 4speed, 9” rear etc. Am I right in assuming a V8 swapped car doesn’t have the same value as an original V8 car? It doesn't matter much to me but I don’t want to take the hit if I were to sell it some day which I dont plan to do but you never know.







 

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A clean fastback shell is creeping up to $20k these days. It sucks, but it’s the reality. If it is as clean and solid as it seems based on your description, and the V8 swap was done right/safely, he will probably find someone to give him low $30s. Just seems to be how fastbacks are right now.
 

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Hi and welcome to the forum. $26k definitely seems light. Where are you located? The most expensive part of Mustang ownership is rust. Make sure the body is rust free and check for Bondo. Bring a magnet with you to check the body. If you’re not sure how to assess a classic Mustang, I highly suggest bringing along someone who is. Check the cowels. If the body is rust free and looks as good as the picture, I’d say you’re good around $31-$32k. Leak sounds more like a rear main seal than power steering. Having an original 6 cylinder does affect value, but converting to V8 helps. Make sure the suspension was upgraded too, the V8 cars had beefier bits. Good luck!
 
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I've got an idea. Don't buy it and kick yourself in the ass a year from now for not buying it. Go get it
 

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For an asking price like that it needs to be touched by someone who knows old mustangs before a fair offer can be determined. Some of us remember a notorious thread titled "Beware of fresh paint"...
 

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Best case scenario it needs power steering fluid, maybe a tune up and it’s good to go. Worst case it needs the power steering fixed Or returned to manual steering, rear main seal or other oil leak(s) fixed, tune up and it’s good to go.
Worst case would be shade tree type repairs on the metal covered in fresh paint. Most aren’t trying to bamboozle you they just don’t do pro work. As long as it’s not full of sub standard repairs to the metal you should be good to go. Depending on the when and where I’d pay high 20s to 30 ish. Purists aren’t going to be looking at stock 6 cylinder Fastbacks and those that want a cool pleasure driver are going to want an 8 matching VIN or not. Good, clean, affordable Fastbacks are getting harder to find.
 

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Unless it is a a rust free shell done as a decent GT350 tribute, there is no way I’d be north of $30K in a T code.

And I own a T code converted to V8 specs.

For $30s that’s A and possibly C code territory.
 
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For $30s that’s A and possibly C code territory.
Thats pretty much what I’ve been finding and wanted to make sure I was correct in offering less for a swapped car. There was a really nice one posted here for 30k a couple months back. I’d snatch that one up if it were still available.


Worst case would be shade tree type repairs on the metal covered in fresh paint. Most aren’t trying to bamboozle you they just don’t do pro work. As long as it’s not full of sub standard repairs to the metal you should be good to go.
Yeah, definitely but i’m pretty sure it’s all original and will be going through it thoroughly before making a deal. My price is really 28, I wanted to give a range For wiggle room just in case I found some significant issues that needed to be fixed but not deal breakers.

I've got an idea. Don't buy it and kick yourself in the ass a year from now for not buying it. Go get it
kind of where i’m at right now. I was originally shooting for a coupe but knew i’d spend a lot of time and money on it only to sell it and buy a fastback some day.
 

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As others have said - definitely check for metal corrosion OR hidden aspects of quick body work. If the prior owner (or one before him) did the so called resto 10+ years ago, IF that body shell had any type of rust from “sitting in a barn”, personally I’d be leery.

Ask yourself this, if it’s a genuine “barn” find:
What do you see when you look into a true barn? Dirt floors and usually no (or) open doors to the elements.

What happens when a vehicle sits over dirt? Moisture and condensation from uncontrolled temperature changes, climate changes and seasonal changes gets into every single porous surface.

How much damage does moisture do to a “barn find” that is unforeseen? A lot.

10-15 even 20 years ago, folks were pulling “barn finds” and slapping bondo or whatever other “mud” they could find to do quick fixes to make a vehicle look presentable for profitable flips.

Definitely poke all around. Get your head up under the dash with a flashlight and check both cowlings where the fresh air intake comes through. Get in the trunk and look at the interior sheet metal of the rear 1/4’s. Look at the trunk drop downs. Get under the car and look for pieced together floor pans. If you can’t tell from the pounds of undercoating someone added to conceal rivets or poor floor pan replacement, then ask the owner if you can peel back the carpet to look (not hard to do). Check the front and rear torque boxes and also look very closely at the rear leaf spring perches where they meet the rear frame rails.

Personally and this is just me - I wouldn’t ever pay C, D or A-Code money for a T-Code 65/66 Fastback. That is NOT in any way meant to put down any T-Codes at all. Sure, there’s a lot of T-Codes that have been converted and are on par with a C, D or A as far as restoration (or driver) quality. In the end, it’s what you want and are willing to spend. Just remember when you go to sell it in the future (or your estate does after you’re gone), that value may not be recouped or paid by someone else because of the fact it is a T-code.

I’ve seen T-code conversions that are out of this world - and yes, people will pay the same if not more over a C, D or A-Code - but it’s a buyer who’s willing to pay the Seller’s asking price. If that is what the buyer wants, they’re going to pay it.

Street values determine the price of a Mustang, not Classic Red or Blue Books - it’s been that way for years...

Based on your pics, yes it does look like a very nice fastback, prob worth the estimated value of $25-$30k, but as others have said - there’s a HUGE difference from what a picture shows to what can actually be seen in person.

We have all been there - looks great in pics, but once traveling the distance and seeing the car in person - you would have thought you’re looking at 2 (or sometimes 3) different vehicles.

If the car is in a location where you can’t see it in person, DEFINITELY get someone who is knowledgeable about Mustangs to check it out for you. In some instances depending on asking price and doubt, higher a Professional Service to evaluate the car and report to you their findings.

Good luck and post back your updates.
 
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I would tread very carefully...that paint looks awfully nice in that first picture for a fast back of that price.
 

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It's a T code conversion....as said above that price is pretty close to C code/ A code pricing. If the price range is ok for you look for an original V-8 car.
 

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With all these "conversions" seeming to bring "big money" maybe I should consider "converting" my "A" code to a "T" code? LOL.
 

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T codes make for an awesome base to create a race car (likely hasn't been abused and only limited torque put through the frame).

About the only way you will significantly increase the value of a T code is to use it as a starting point for a well-done Shelby GT350 tribute (<<< that one went for $45K!) or some crazy modified Pro-Touring or Ring Brothers type build.

On BaT about 6 months ago someone paid $29,250 for an original T code Fastback in Washington. They paid about $10-12K too much for that car IMHO and that is the highest I've seen for a "normal" T code.
 

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@G.T.350-R, that T-code price doesn't surprise me. Bring A Trailer is a waste of time for hobbyists on a budget. I stopped following BaT a few years ago when an unrestored 66 fastback in poor condition sold for almost $40k. When it first started, BaT was a great resource. But now every car collector watches the site, including international buyers with favorable currency exchange rates. I don't know if the buyers are ignorant or just crazy rich, but the prices on BaT are usually insane.
 

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@hsvtoolfool speaking from experience BaT is a great place to sell...and that means on the buy side prices are high but occasionally deals do pop up.

At least the buyers are preapproved so you don’t get BS bids like eBay. And there’s a bit of listing screening as they try to weed out junk.
 

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I couldn't imagine spending $35k for a car that started off as a 6cyl. Some care, some don't, I definitely do when considering the possibility of selling it later on down the road as you'll get considerably more money for a car that started off as a v8, imo. I guess that must mean my 65 fastback is worth $45k+ since it started as a C Code? 😂
 
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