Kirklandkie

So i just got a 1965 Mustang convertible for the low low cost of free. here's a little background info:
i've been driving a 1985 vw rabbit for a few years now, and was more than ready for an upgrade. I went on the lookout for a late model ford f350. Now my dad was disgusted that i'd spend so much on not only the vehicle but also the cost of diesel. So he called me the other day and made a deal, if i would agree not to buy such a vehicle i could have his 65 mustang that has been in our garage since i was a kid. Well the more i think about his deal the more it appeals to me.
The vehicle is in overall good condition considering the age. it looks like it has been in a little fender bender (big dent behind drivers door including trim piece, crack front bumper, slightly pushed in rear right bumper) but doesn't appear to be at all structurally compromised.
It has the original pony interior in pretty good shape and the title says it's an 8 cylinder. I'm still lacking some of the finer details on the car but my dad says the engine is seized. The panel just aft of the rear tires is rusted through but the rest of the body is rust free. preliminary inspection of the underside indicates thick rusting in the wheel wells and a good coat over the rest of the vehicle. I'll take pictures tomorrow if i can remember to bring a camera over to his house. but my question for all of you is: What am i looking at for restoration on this vehicle? is there anything specific i should know about the 65?
i'm figuring 3 grand to rebuild engine, maybe 5 grand for body work and paint, 2 grand misc. am i missing anything?
Thanks!

-kirk

p.s. there is no horse in the front grill though it looks like it has 4 bolt holes to hold one

Kirklandkie

oh i should mention, for the most part i'd call this car "all there"
thanks again

-kirk

MustangFTW

if your doing body work yourself then you should be fine. otherwise getting rid of rust is expensive they have to cut it out and weld in new sections. you could really save on bodywork if you know how to weld and do fiberglass/bondo work. make sure you get rid of all rust or youll regret it later!

Kirklandkie

got another late night update for y'all. engine is apparently seized as result of overheating... think given this i should get a rebuilt 289? also what do you think for aftermarket parts? i figure i should go big on the hardest to access parts such as pistons and whatnot but i'm new to doing anything to cars that isn't using stock parts. i mean come on... i drive a rabbit.

-kirk

MustangFTW

you'll be hard pressed to find a 289. there not as common as a 302 or 351.

haha tell your dad not expect much better mileage from the stang. my stock 289 coupe gets like 10 mpg city average.

hightower2011

A 289 shouldn't be too terribly hard to come across. They may not be as common but they are out there. It's a great little motor too. It's what powered most of the Cobras.
Also, for $3,000 you could probably get a crate motor, or at least a nice rebuilt motor. Paint and body will cost you more than $5,000 unless you do the body work yourself.

Pictures would be great to help identify what you need.