Hello, new to the site. Looking forard to the help. Well I finally got my 1965 Mustang GT out for the first time this year this past weekend. Checked everything before I started itand all was good. I have never had any problems with the cars, smokes a bit, but other than that its been good to me. I've been wanting to rebuild the engine myself for afew years,get it running good again, but don't have the time due to college three hours from home. Anyways,I had warmed up for about five minutes and I took it around the block and pulled back in the driveway and revved it a little bit to hear the engine, then I hear something pouring out of the engine. I look underneath and see some stuff running down the oil pan. I shut the car off and it continued to pour out. I was looking forthe source but couldn't see anything from the top. All I could tell was thatI think it was coming frombelow thedrivers side exhaust manifold, behind the motor mount. Ithought it smelled like coolant, but then I noticed it had a reddish color to it which scares me. This happened to anybody before, or does anybodyknow what happened? I'm planning on pulling the enginenext week sometime to see if I can tell what is going on.

So in the meantime I guess I need to start looking at replacement engine options or getting it rebuilt if it is not messed up. So does anybody have any information on a stock replacement for the 289? Or how much I could expect to pay to have it rebuilt? Also anything not too high priced to have them do to the engine while being rebuilt to increase performance? Like I said, I don't know what the problem is, I can't see it. So I'm hoping I didn't crack the block or anything, and that I can just get it rebuilt. I would love to do it myself but really don't have the time. Any help would be greatly appreciated. Thanks.

 

Don't get too excited, Coolant comes in several colors and red is one of them. You probably have a head gasket blown. Yeah, take the engine out and tear it down to the head gasket and see if that is your problem. You should have the green coolant in there, but some guys are just stupid.
http://autorepair.about.com/cs/produ.../aa052601a.htm

 

That sounds like a bad freeze plug to me and not to bad to fix.

 

did you look in your radiator to see if it is your coolant?

 

+1 My first thought, especially after sitting for a period of time.

 

My Uncle had mentioned this. I honestly had never heard of one before until he said something. I was just confused because I could not think of any coolant lines that run the bottom side of the motor. I'll check the head gasket too. I may end up pulling the motor out anyways, and if the engine is fine I may just get a quote on what it would cost to get it rebuilt.It smokes something terrible, and drips oil. It's just something that needs to be done. Thanks for the responses. I'll report back after I tear into it.

 

Why are you tearing it down before you check c/p, lead-down etc? Unless you just WANT to do all that work that may not be required I'd run some tests first. You don't need to do a tear-down to dianose a head gasket and you don't have to pull to motor to replace one.
I'd bet the plug based on what you said plus if you have that much coolant coming out from a gasket you should also have a lot of compression from the cylinder it's on. Not to mention hydraulic lock.