How to buy a first-gen Ford Mustang

Shopping for a pony car? Here’s what to look out for

Lee Iacocca needed all of his famous powers of persuasion to bludgeon Ford management into backing the Mustang – but it didn’t take long to prove he was right: some 417,000 were sold in the year after its 1964 launch and it topped a million by February ’66.

Despite its Ford Falcon underpinnings, the new machine looked every bit the sports car. Bucket seats and a floor shifter as standard certainly helped its appeal, as did Iacocca’s insistence that it be a four-seater big enough to take a small-block V8.

And that appeal hasn’t waned at all in the intervening decades: the Blue Oval’s muscular thoroughbred – the first of the pony cars – remains one of the most iconic and sought-after machines on the market.

Want one of your own? Here’s what to watch out for when buying a first-gen example of this legendary stallion.

Know what you want

With such high production numbers, there are plenty of early Mustangs on the market today, including many rust-free originals – so if you take your time you should easily be able to find your ideal car at a reasonable price. 

Problem is, with such a wide range of options available to Mustang buyers in period, knowing what you want – and what you’re buying – can be tricky. Looking for a high-spec model? You’ll want to avoid tricked-up replicas at all costs.

All sorts of options

Mustang production covered a huge range of models and specs, with options complicating things further. From the start, you could specify power steering and brakes, air conditioning, a powered soft-top, an automatic transmission or four-speed manual (instead of the standard three), Rally Pac instruments, heavy-duty suspension, 14in five-spoke wheels and more. 

V8 examples are most common, most durable and most sought-after, but manual gearboxes, especially four-speeds, are rare. Less popular body styles – such as the Notchback – can offer an affordable route into ownership.

Run the numbers

The price difference between specifications is far bigger today than when new. Before you spend many tens of thousands on a top-spec ’Stang, you need to check that it is, and always has been, what it claims to be: in recent years, countless cars have been transformed into ‘Eleanor’ (of Gone in 60 Seconds) and Bullitt replicas, which fetch more than standard examples but don’t offer the originality that many are looking for.

For certainty, pick up books such as ‘MBI Mustang Recognition Guide 1965-73’ for expert guidance. All of the original spec is revealed in the VIN plate on the driver’s door. 

Look for leaks

Once you’ve checked that the engine spec is correct, it’s time to fire it up. All Mustang blocks are durable (you can get 150,000 miles from a ‘six’, much more from V8s), but they’ll make it clear when they’re tired.

You’re looking for signs of overheating that could indicate a blown head gasket, while excessive oil leaks and smoking suggest a rebuild is needed.

Give it the gas

Even when cold, a couple of pumps on the throttle should see any ’Stang engine burst quickly into life and pull smoothly through the rev range. 

Don’t expect fireworks from the lesser engines, especially with the automatic transmission, but beefier blocks should deliver terrific straight-line grunt without any flat-spots. The small-block V8? Oversquare and high-revving.

Shop for a slick change

Make sure the transmission – automatic or manual – changes smoothly and doesn’t jump out of gear. Automatics are more durable, while manual gearboxes are probably the weakest component on a Mustang. 

Many have suffered years of abuse, so be prepared for problems in this area – and look out for worn synchros or bearing noise. Rebuilding isn’t too costly, but adjust the price if you find issues. 

Assistance at the wheel

Mustangs handle relatively well by American standards, but the steering can be vague and heavy without the optional power assistance. That’s especially the case in high-performance examples which have usually been fitted with bigger wheels for better grip – and can otherwise be a handful in the wet.

As for the suspension, it’s simple and strong, but squeaks at the front could indicate worn top swivels, so do listen carefully.

Pay attention to the brakes

Stopping power? Original drum brakes are barely adequate for gentle driving, let alone anything fun. That makes a brake servo a desirable option and front discs even more so (though they weren’t available on a ‘six’ until 1972).

The good news is that you can have a specialist retro-fit a complete front-disc conversion kit for around £1000/$1300 – and it’s a must if you’re planning to drive hard and fast.

Inspection is the best protection

With the hood up, look out for ripples in the front chassis legs, especially where they join the suspension towers: these are a clear giveaway of past accident damage.

Check for rust, too. In fact, give the whole car a thorough inspection for rot, paying particular attention to the front wings, fenders, doors, sills and floorpans. Convertibles can suffer rust in the hood well, while the rear deck area is a risk spot on hardtops.

Plenty of spares

In the cabin, you’ll find that trim suffers with age. Seats are fairly straightforward to retrim, but try to keep things as original as possible if you want to maintain value.

Seat frames can crack but replacements are readily available – as is the case for many cabin parts, including the chrome trim. Codes on the VIN plate will tell you the original spec, but many have been upgraded over the years.

The 'Stang's still got it

Take your time, shop around and don’t be afraid to inspect a Mustang thoroughly. Buy a good one and you’ll find it to be hugely usable and great fun; bag a V8 and you’ll soon be addicted to its big grunt and fabulous noise – even if the fuel consumption can be scary.

Prices are kept fair by a good survival rate, while the superb availability of parts at competitive costs means the Mustang is a very accessible motor – and one with lasting appeal. Drive one down the street and you’ll soon find this pony’s as popular today as it was half a century ago.