Ford Mustang (1965-1973) Review

What is the classic Ford Mustang?

The first-generation Ford Mustang is one of the most influential performance cars ever built. Launched in 1964 as a 1965 model, it created the “pony car” segment by combining sporty styling, affordable pricing and a wide choice of engines and options.

Available as a coupé, fastback and convertible, the Mustang appealed to everyone from everyday drivers to serious performance enthusiasts. Buyers could choose economical six-cylinder models or powerful V8s, while high-performance versions developed by Carroll Shelby and Ford’s own Boss and Mach 1 programmes became muscle-car legends.

Today, the classic Ford Mustang remains one of the most accessible American classics. Excellent parts availability, straightforward engineering and huge enthusiast support make it easier to own than many cars of similar age. However, structural condition and originality should always take priority over engine size or cosmetic appearance.

The first-generation Ford Mustang was produced from March 1964 until 1973 at Ford’s Dearborn (Michigan), San Jose (California) and Metuchen (New Jersey) assembly plants. The earliest cars are commonly referred to as “1964½” models because they launched during the 1964 model year before becoming officially designated as 1965 Mustangs. Ford introduced significant updates throughout the first generation before replacing it with the Mustang II for the 1974 model year.

What changes were made to the Ford Mustang over the years?

The Mustang evolved considerably during its first generation. The original 1965 model established the formula with compact dimensions, a wide range of engines and optional V8 performance. The GT package quickly became popular, adding upgraded suspension, brakes and styling.

In 1967, the body grew larger to accommodate Ford’s new big-block V8 engines. The revised styling introduced more aggressive proportions and improved interior space. The 1968 model gained further safety improvements and became one of the most recognisable Mustangs, helped by appearances in films such as Bullitt.

Performance expanded rapidly. Shelby GT350 and GT500 models became icons, while Ford introduced the Mach 1, Boss 302, Boss 429 and Cobra Jet variants between 1969 and 1971. These remain among the most collectible Mustangs today.

The 1971 model brought a significantly larger body and revised styling to compete with evolving muscle cars. While less delicate than earlier cars, these later Mustangs offered greater comfort and more powerful engine options. Production of the first generation concluded after the 1973 model year.

What are the most popular specifications for the Ford Mustang?

The 1965–1966 V8 fastbacks remain among the most desirable because they combine classic styling with relatively compact dimensions. The 289 Hi-Po models are especially sought after, while genuine Shelby GT350s occupy an entirely different value bracket.

The 1967–1968 fastbacks are equally popular thanks to their more muscular appearance and availability with big-block engines. The 1968 GT 390 gained worldwide recognition through Bullitt.

Mach 1s, Boss 302s, Boss 429s and Cobra Jet cars are the standout collector models from the later years. However, well-maintained small-block V8 coupes and convertibles often represent better value and are generally easier to own.

What are the common problems with the Ford Mustang?

Rust is the biggest concern with the classic Ford Mustang, as it is with so many classic cars. Structural corrosion is far more expensive than rebuilding engines or replacing mechanical components. Floorpans, torque boxes, chassis rails and suspension mounting points deserve careful inspection.

Mechanically, V8 engines are generally durable but may suffer from oil leaks, worn timing chains, cooling issues and carburettor wear. Automatic transmissions are robust if maintained, while manual gearboxes should shift cleanly without excessive noise.

Suspension bushes, steering components and drum brakes often require refurbishment on older cars. Electrical issues are usually age-related and relatively straightforward to repair.

Many Mustangs have been modified over the decades. Quality upgrades can improve drivability, but poorly executed engine swaps, suspension conversions or body modifications may reduce originality and affect value.

What should I look for when buying a Ford Mustang?

Always inspect the body before concentrating on the mechanicals. Examine the floorpans, torque boxes, front chassis rails, shock towers, inner wings, boot floor and rear chassis sections carefully for corrosion or poor repairs.

Check that panel gaps are consistent and look for evidence of accident damage or replacement body panels. Verify VIN numbers and confirm the car matches its original specification where possible.

Mechanically, ensure the engine starts easily, maintains oil pressure and runs at the correct temperature. Steering should feel predictable, and brakes should operate confidently.

A specialist inspection is highly recommended, particularly on high-value GT, Shelby, Mach 1, Boss or Cobra Jet models.

Where does the classic Ford Mustang tend to rust?

Common rust areas include the floorpans, front frame rails, torque boxes, shock towers, front and rear valances, wheelarches, lower wings, door bottoms, boot floor, rear chassis rails and battery tray.

Convertible models require especially careful inspection around their reinforced floor structure. Water can also collect beneath carpets and around the windscreen, causing hidden corrosion.

Fresh underseal or recent paintwork should never be accepted as proof of a rust-free car. Structural repairs can be extensive and expensive, even though replacement panels are widely available.

How does the classic Ford Mustang drive?

Given the huge range of variables in terms of engines, transmissions, specs and tuning upgrades both in period and added later the Mustang driving experience is hard to pin down precisely. The condition of the car you’re considering will play a big part, too. At heart these are simple cars mechanically and in character, though, and the basic rule of thumb is that the later the car the softer, heavier and more ‘American’ it will feel given the Mustang inevitably gained weight and complexity as the years went on.

Pre-1967 cars will feel the most physical to drive, especially without power steering or – in some cases – servo assistance to the brakes. By European standards even these early cars will feel pretty big and vague in standard trim, though they can of course be much improved with correct set-up and, by the time you get to the V8, you have the basis for a proper muscle car experience.

Opinions vary but, while more powerful, by the time you get to the big-block cars you’re in a running battle between horsepower and weight, which isn’t to say the sheer grunt of a 427-engined car won’t be fun. Six-cylinder cars will be pretty leisurely and perhaps better suited to a convertible, ditto three-speed autos. As proven on race tracks the world over, meanwhile, a 289 with four on the floor and a proper set-up has the potential to keep pace with anything else from the period.  

What’s Good About the Ford Mustang?

Then and now the Mustang is a feelgood car for both occupants and onlookers, and the kind of thing to put a smile on the face of anyone who sees it. The spirit of mid-‘60s optimism and easy-going American pop culture permeates its looks and manners, meaning a drive in a Mustang will always be something to celebrate.

Whichever body style you go for there’s space to share the experience with family and friends, so it’s a sociable classic as well. Mechanical simplicity is another point in its favour, Ford’s policy of using shared parts from across its huge range of regular cars meaning spares should be relatively easy to source (albeit from overseas, potentially) while the under stressed, no-nonsense design of most components means the Mustang is inherently tough.

With a suitably raucous V8 engine it’s also going to be a hoot every time you fire it up, that soundtrack all part of the experience. You may not be the fastest classic on the block, but you’ll likely be turning the most heads and cracking the biggest smiles.

What’s Bad about the Ford Mustang?

Ford’s policy of constant model year upgrades, the huge choice of specifications, the options packages and the culture of customisation can appear intimidating for those taking their first steps into the muscle car realm. Indeed, the jargon and buzzwords Mustang aficionados bandy about can sound like a new language entirely and, with it, the fear of getting caught out feels very real. For all the knowledge and enthusiasm for the cars here in Europe now there’s also the fact you’ll likely be either buying or dealing with people on the other side of the Atlantic at some point in your ownership, which can add to the intimidation factor.

As for the car itself there’s the obvious fact you’ll have to be happy with left-hand drive, accept American fuel consumption figures are going to be expensive and also the fact that, by the time you get to the late ‘60s and early ‘70s versions, you’ve got something that will feel very big, heavy and potentially out of place on British roads.

How easy is it to get hold of parts for the Ford Mustang?

Parts availability is outstanding. Almost every mechanical, body and trim component is available through specialist suppliers, making the Mustang one of the easiest classic American cars to restore.

Genuine Shelby, Boss, and rare performance-model components remain expensive, but standard service and restoration parts are widely available worldwide.

How much does it cost to insure a Ford Mustang?

The classic Ford Mustang, built from 1965 to 1973, is an iconic classic car which needs specialist classic car insurance to ensure that it’s properly protected. Prices for this cover will vary depending on a whole host of different factors, but Goodwood Classic Solutions can offer Ford insurance from just £110 per year.

The model, condition, and usage of your Mustang will all factor into just how much insurance costs, too. A standard 289 V8 coupé will usually be rated differently from a Boss 429 or Shelby GT350. Specialist classic insurance often provides the most appropriate cover, and Goodwood Classic Solutions gives you the option to add Agreed Value Cover which ensures that you’d be paid out the true value of your specific mustang if it was ever written off, rather than just the going rate for a similar vehicle.

You can call our team on 01243 913 333 to get a quote and see how much it would be to insure the Mustang of your dreams. 

What else affects the cost of Ford Mustang insurance?

Condition has a major influence because it directly affects value and repair costs. A professionally restored Mustang with documented history is usually easier to insure than a poorly repaired or incomplete project.

Modifications should always be declared. Engine upgrades, suspension changes, modern brakes or cosmetic alterations may increase premiums, although professionally installed safety improvements can sometimes be viewed positively.

Usage also matters. Cars used for weekend drives, club events and limited annual mileage generally attract different premiums from daily drivers. Secure garaging, trackers and agreed-value cover can also help protect both the vehicle and its insured value.

Who is the Ford Mustang recommended for?

The first-generation Mustang suits buyers wanting an iconic American classic that is enjoyable to drive, straightforward to maintain and supported by an exceptional aftermarket. It appeals equally to first-time classic owners and experienced collectors. Buyers should always prioritise body condition, originality and documented history over engine size or cosmetic modifications.

Which classic model of Ford Mustang to choose?

Much of this will be down to personal taste and the kind of image you’re going for. Driving purists may dismiss the later cars as more show than go but, for others, a late, big-block Mach 1 or Boss in a suitably ‘70s colour may have kitsch, chest-wig appeal that transcends any dynamic flaws. And if you’re going to do it you may as well go big or go home.

For a Mustang to enjoy on British roads we’d probably be tempted by an earlier car, on the basis it’s a more manageable proposition. A big-block is all very well, too, but the revvier, oversquare 289 ‘Windsor’ V8 is lighter on the nose and probably the more entertaining car on our narrow, twisty roads.

Convertibles have their fans but a hardtop can be cheaper to buy while the Fastback is arguably the definitive Mustang shape and the one most people crave. An original Shelby GT350 would obviously be top of most people’s lists but these are now properly valuable and expensive cars so, for something to actually drive and enjoy, a regular pre-‘67 289 GT and a few sympathetic period upgrades like disc brakes and – perhaps – power steering would seem a pragmatic choice.

Specifications – Ford Mustang GT (1966)

4.7-litre V8, petrol

274PS (202kW) @ 6,000rpm

423Nm (312lb ft) @ 3,400rpm

Four-speed manual, rear-wheel drive

c. 1,400kg

c. 8.6 seconds

c. 120mph

1964-1966 (Entire production run 1964-1973)