67 Restoration Questions

HI Dan, First of all, welcome to Stangnet! It's great forum and a great source of information. As for your car, it sounds like a great car and a perfect start, I mean you have the best of both worlds, a car with history in your family and a good, solid car to start a project. I'll get the value thing out of the way right off the bat, any modifications to any car affect the value, some for the better, some not. I'm a firm believer that the only cars that really should remain number-correct and unmodified are the super-rare and very valuable Mustangs like (for example) the Shelby Mustangs. All the other ones, and I mean ALL are very common and easily replaced. If you add safety related parts to your car, like disc brakes or convenience parts like a nice stereo, it will only add value to your car. Color changes, slightly modified motors, and aftermarket wheels all fall into the same group, as long as the next owner likes them. So what hurts the cars value? Wild body modifications, goofy custom interiors and bad engine swaps can kill the value.
Your car is a coupe, which as you already know is the most common and that is a plus for you should you decide to modify it since you don't have to worry about ruining a priceless car. If I were going to restore a car lie yours, I'd keep in mind that it'd be kind of respectful to your step-dad if you kept it somewhat original, and try not to lose that vintage Mustang look. This is also a good time to assess your budget since some things (paint for example) are expensive. First of all, get the car driveable, I would think that rebuilding or replacing the carb plus removing and either replacing the gas tank or having it flushed plus installing a new battery would do it. Next either have the car inspected by a mechanic you trust or do it yourself if you're the mechanical type. Go through the brakes and fix any leaks and maybe just drive it for a few months while you come up with a plan and find out what you'd change. If the car only has 79,000 miles, it's probably solid and a good cleaning from top to bottom would do wonders, mine had 91,000 when I bought it and it felt brand new with a couple exceptions. Start with wheels and tires, but don't get carried away with modern sizes or styles. For a more classic-yet-muscular-look, try something along the lines of a 15x7 rim with a 215/60-15 front and a 235/60-15 rear, then just drive it, and enjoy it for now, your likely to find stuff you'd like to do to your new car as well as meet local Mustang guys. Be prepared for half-hour gas stops and lots of "I used to have one just like that" stories as well.

Looks like a great starting point, for a car that's been sitting 30 years!
Nice ride! although I am partial to 67's
on the upside, you might just be looking at a brake job, with maybe some carb, and ignition work. And misc like tires, steering(alignment) issues.
The factory manual is a good place to start.
To keep it inexpensive, in the beginning. keep it stock. That is if there is no serious things to consider.
A motor that turns by hand and was maybe rebuilt before storage is a GOOD thing!
Good luck with work ahead.

Very cool story. I agree with Zookeeper, modify for safety specs but perhaps keep most of the originality. Good luck, I am looking forward to watching you build. And yes, I would recommend upgrading your brakes.

All valid posts / responses is regards to your car. I can't stress enough to write down your budget and time frame that you want a completed car. Knowing how much you can or will spend on your car will answer most of your questions.

If you are planning on taking a few years to do the resto, then you can possibly afford to spend a little more. If you want it done in 6 months, then maybe a little less.

When I started my restoration (sent it to a restoration shop) I planned on spending about $12-15,000 and taking about 18-24 months. I ended up spending about twice as much $, but spent an additional 3 plus years on the restoration. Because the $$ was spread out over the additional years, it was financially possible.

Get you pencil out and figure how much you want to spend, what you want/can do, and when you want it done.

Paying someone else to do the work, $5000 will make the car look very good, mostly in stock form ( with a few minor upgrades). Keeping in mind that you can spend 2-3 grand on wheels and tires alone if you get carried away. It is a matter on where you want to spend the money and how you want the car to look.

Double that money and you can go a little faster, stop a little better, and handle pretty good. So on and so on.

if you want a point of reference, I have a thread on here in regards to my restoration in the Classic Talk section. I ended up spending just under $30,000.... Keep in mind that I payed for a professional to do 80% of the work, and every gasket and bolt on the car is new, and I wanted to go fast.

Good luck and keep us posted.