Elite Dealer

1966 Ford Mustang

Addison, Illinois

$49,995

Vehicle Details

Make

Ford

Model

Mustang

Year

1966

VIN

6T08T1XXXX1966XXX

Body Type

Other

Transmission

Manual

Engine

5.0

Description

1966 Ford Mustang Convertible 5.0 Fuel Injected V8 5-Speed Manual! American Muscle Meets Modern Performance! Check out this gorgeous 1966 Ford Mustang Convertible, finished in a stunning Black exterior with a matching Black interior! This classic Mustang combines timeless 1960s styling with upgraded performance and modern driving conveniences. Under the hood sits an upgraded 5.0L Fuel-Injected V8 engine, paired with a desirable 5-speed manual transmission, delivering an exciting driving experience with plenty of V8 power! This Mustang has an aggressive stance thanks to its American Racing wheels and dual exhaust system. Enjoy open-air cruising with the added comfort of air conditioning, power steering, and power windows! Vehicle Highlights 5.0L Fuel-Injected V8 Engine 5-Speed Manual Transmission Beautiful Black Exterior Matching Black Interior Convertible Body Style American Racing Wheels Dual Exhaust System Air Conditioning Power Windows Power Steering Classic 1966 Mustang Styling Upgraded Drivetrain for Modern Driving Enjoyment A beautiful combination of classic Mustang looks, V8 performance, and modern convenience! Whether you re cruising on weekends, attending car shows, or simply enjoying the open road, this Mustang is ready to impress! Buy With Confidence at MGM Classic Cars! CARFAX Certified Advantage Dealership Easy Financing Available Low Monthly Payment Options Nationwide Delivery Right to Your Door Over 500 Five-Star Google Reviews BBB Accredited Dealership Over 250 Classic & Specialty Vehicles in Stock MGM Classic Cars Addison, Illinois 847-848-1850 www.mgmclassiccars.com Driven by Passion.

Classic Ford Mustang Buyer's Guide

Full guide

Mike Sullivan

Muscle Cars

1964–1973

~5 min read

Updated Apr 2026

The definitive buyer's guide for classic Ford Mustang 1964½-1973. Generation breakdown, rust hotspots, engine code identification, Marti Report essentials, and current market pricing.

This guide covers

✓ 10-point inspection checklist

✓ Common issues & what to avoid

✓ In-person inspection guide

✓ Market pricing by year & condition

✓ 6 FAQs answered

✓ History & fun facts

Read the Full Mustang Buyer's Guide

Ford Mustang Market Overview

Based on 303 Ford Mustang listings currently on ClassicCarsArena.com

303

Listed Now

$38,781

Avg. Asking Price

1934–2012

Year Range

Price Position on Our Site - Above Average

This car: $49,995

Low: $3,000 High: $239,000

Transmission Distribution

Automatic 50%

Manual 35% ◄

Condition Distribution

Excellent 12%

Good 11%

Fair 4%

Poor 1%

Project 0%

Data from ClassicCarsArena.com listings Browse all 303 listings →

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Classic Ford Mustang Buyer's Guide

The Ford Mustang launched on April 17, 1964 and sold a million units faster than any car in American history. Sixty years later, the first-generation Mustang (1964½-1973) remains the cornerstone of the classic car hobby, the gateway car for new collectors, the trophy car for veteran enthusiasts, and the most cloned, faked, and re-stamped muscle car on the market. Whether you're hunting a base inline-six coupe or a documented Boss 429, knowing what separates the real cars from the tribute builds is the difference between an investment and a money pit.

What to Check Before Buying

✓

Verify VIN against data plate and engine casting , Fifth digit of VIN = engine code. Cross-reference with block casting number behind cylinder head.

✓

Order Marti Report for any 1967+ car over $30K , Ford's original production records via Marti Auto Works. $25 confirms what the car actually was when it left the factory.

✓

Inspect torque boxes from underneath , Front and rear, where the unibody meets floor pans. Rotted torque boxes = $3,000-$6,000 repair and chassis flex.

✓

Pull kick panels and check cowl seam , Where windshield base meets firewall. Cowl rust here drains into the cabin and rots floor pans.

✓

Magnet test rocker panels and quarters , Body filler is non-magnetic. If the magnet doesn't stick, the panel has been filled, meaning underlying rust.

✓

Check shock tower welds for cracks , Cracks radiating from upper shock mount = beaten chassis. Common on Big Block cars and 428 CJs.

✓

Verify original GT/Mach 1/Boss equipment , Without Marti docs and matching data plate, treat all performance trim claims as clone candidates.

✓

Test all electrical functions , Every gauge, every switch, every light. Brittle 60-year-old harnesses and worn switches are universal.

✓

Compression test all eight cylinders , Should read 145-175 PSI uniformly. Variance >15% between cylinders = head gasket or ring problem.

✓

Drive at least 30 minutes on highway , Listen for differential whine, transmission slip, brake pulsation, steering wander. Watch for overheating in stop-and-go traffic.

Common Issues

Mustang rust is everywhere and predictable. The torque boxes (front and rear, where the unibody meets the floor pans) are the structural killers, rotted torque boxes mean the car flexes under load and the doors won't close right. Cowl rust hides under the dashboard where the windshield base meets the firewall. Floor pans rust through from the underside in any car that lived north of the Mason-Dixon. Rear quarters, lower fenders behind the front wheels, and the trunk drop-offs are all standard rust zones. Mechanically, first-gen Mustangs are simple but the small details matter. The Toploader four-speed is bulletproof when synchronized properly; the C4 and C6 automatics are robust but commonly leak from front pump seals. The 9-inch rear is bombproof, but make sure the gear ratio matches what's claimed. Engine identification by casting numbers is essential: many cars wear the wrong block, and a 1968 GT 390 with a 1973 351W block is not what the seller is advertising. Electrical issues plague any 60-year-old car. The original wiring harnesses are brittle, the headlight switches fail, the gauges read inconsistently, and the turn signal switches die. Plan to replace the headlight switch, the ignition switch, and at least the engine-bay harness on any first-gen Mustang you buy. Budget $800-$1,500 for a complete electrical refresh.

What to Look For

Always start with the data plate (door tag) and the VIN. The fifth digit of the VIN is the engine code: A=289 4V, C=289 2V, D=289 standard, K=289 HiPo, F=302 2V, J=302 4V (Boss 302), M=351 4V, Q=428 CJ, R=428 SCJ Ram Air, S=390 4V, Z=Boss 429. Cross-reference the VIN engine code with the actual block casting number, they must agree. For any car claimed as a GT, Mach 1, Boss, Shelby, or Cobra Jet, demand a Marti Report. Marti Auto Works has Ford's original production records and can verify exactly what the car was when it left Dearborn or San Jose. A $25 Marti Report will save you $25,000 in mistakes. Cars without Marti documentation should be priced as clones, period. Unibody integrity is the other non-negotiable. Pop the hood, look at the shock towers, cracks radiating from the upper shock mount are common on Big Block cars and indicate the chassis has been beaten. Inspect the torque boxes from underneath. Lift the trunk mat and look at the trunk drop-offs. Pull the rear seat and check the floor where the seat bolts down. Fresh undercoating on a project car is a red flag, it's almost always hiding rust repairs.

Price Guide

Base 1965-1966 coupes with the inline-six or 289 2V remain the most accessible classic Mustang at $18,000-$32,000 for solid drivers. Convertibles add $8,000-$15,000 to equivalent coupe pricing. Fastbacks (1965-1968) are dramatically more valuable due to Bullitt and Eleanor pop-culture demand, a clean 1967-1968 fastback small-block runs $45,000-$75,000. 1967-1968 GT 390 cars (Bullitt-style) trade for $60,000-$110,000 with documentation. The 1968 GT 428 Cobra Jet is the holy grail of the small-bumper era at $120,000-$220,000 for documented numbers-matching cars. 1969-1970 Boss 302 and Mach 1 cars run $70,000-$140,000 depending on condition and equipment. The Boss 429 is six-figure-plus territory, $300,000-$600,000 for documented examples. 1971-1973 cars (the Big Body era) have historically been the bargain entry point but appreciation has accelerated since 2020. A clean 1973 Mach 1 with the 351 Cobra Jet now runs $45,000-$75,000, up dramatically from the $25,000 territory of a decade ago. Project cars (running but rough) start around $15,000 for coupes and $22,000 for fastbacks.

Did You Know?

The Mustang was originally going to be called the Cougar: Lee Iacocca's team had "Cougar" emblems already produced before a focus group response prompted the last-minute name change. The Cougar name was eventually used for the Mercury sister car launched for 1967. Ford originally projected first-year Mustang sales of 100,000 units. The car sold 418,812 units in its abbreviated 18-month launch year, and over a million Mustangs were sold by March 1966, a sales pace that has never been equaled by any other American automobile launch. The iconic 1964½ designation isn't actually a real model year: Ford built the early Mustangs as 1965 models, but the cars produced before September 1964 had different alternators, generators, and other details, leading collectors to designate them "1964½" cars to distinguish them.

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Elite Dealer

$49,995

1966 Ford Mustang

Addison, Illinois

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Original Factory Colors

Official paint codes for the Ford Mustang (1966).

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Model History