Rusty First Generation Mustangs are a common sight at Barn Finds, with some worse than others. This 1966 GT 2+2 Fastback joins the list, with the new owner facing plenty of work. However, the critical areas that often represent the difference between a viable project and a lost cause are sound, which means that returning this classic to its former glory should be possible. Why not take a closer look to determine whether you are up to the challenge?

It is a sure bet that there were plenty of people strutting the corridors of power at Ford in 1966. There were initial misgivings about releasing the Mustang, but with the car setting a sales record of 607,568 vehicles during that year, it was clear that the gamble had paid off big time. This ’66 GT 2+2 Fastback started life wearing Sauterne Gold paint, but the current Wimbledon White is one of its more obvious changes. Closer examination reveals that the distinctive fog lights are missing from the grille, while the rear features a rather odd custom taillight treatment. Reversing those modifications would be straightforward, but you can be sure they will sit low on the winning bidder’s priority list. The first task will be to eliminate the rust that has sunk its teeth into this classic. It has impacted the traditional areas, including the floors, trunk pan, and drop-offs. However, the photos show that apart from heavy surface corrosion, the rails, torque boxes, and shock towers are solid. This build will undoubtedly require a nut-and-bolt approach and plenty of cutting and welding, but since the car appears to be structurally sound, an enthusiast with respectable welding skills should be able to undertake the work themself. They will require more than fresh steel, with some trim requiring replacement, and several pieces of glass broken.

It is unclear whether this Fastback is numbers-matching, but the VIN confirms it rolled off the line powered by the delightful A-Code 289ci V8. The first owner teamed this motor with a three-speed automatic transmission, power steering, and front disc brakes. With 225hp and 305 ft/lbs of torque at the driver’s disposal, this would have been a joy to drive. Sadly, the seller indicates that the engine is locked, and it will take an in-person inspection to determine whether it can be salvaged. A heavy dose of Mystery Oil might be the answer, although I have seen some pretty amazing results when owners have filled the cylinders with diesel. It makes sense because its low viscosity means it can often work its way into areas that are too tight for regular lubricants.

The first owner teamed this Mustang’s Sauterne Gold paint with an Ivy Gold and White interior that would have looked stunning. Much water has passed under the bridge since, meaning that a complete retrim will go onto the winning bidder’s “to-do” list. However, the only missing component is the rear seat base. Therefore, one characteristic that this interior shares with the exterior is that the foundations are present to achieve a “factory” appearance. The seller states that this GT originally featured air conditioning. Reinstating the system would be worthwhile, although it appears that most of the components are AWOL. Sourcing faithful reproduction parts is pretty easy, and I believe it would be a worthwhile investment.

I see plenty of cutting and welding in the future for this 1966 Mustang GT’s new owner, and this project isn’t for the faint-hearted. However, the fact it has received twenty-five bids since the seller listed it here on eBay in Hampton, South Carolina, suggests plenty of people are willing to give it a red-hot go. The action has pushed the price to $3,783, which is below the reserve. That leaves two questions for you to contemplate. The first is what you would be willing to pay to take this classic home, while the second is whether you are willing to tackle this build. It will be fascinating to gauge your response. If you do become its new owner, we would all love to receive progress reports as it heads towards finding its rightful place on our roads.