I have a close friend who is looking for an classic Mustang (64-66, prefers the coupe over the fastback). It doesn't need to be perfect but needs to run - something that could be driven for a short commute to work an occasional short city drives. Manual is preferred, doesn't really matter if it is fast/powerful, but needs to be somewhat reliable. Budget is $20k (could maybe justify $22-23k for the right car). How good of quality 64-66 Mustang could one expect to buy for $20k?
Also, if anyone has any suggestions on a reputable classics dealer in the mid-Atlantic region, preferably somewhere one could drive from DC area to actually see the car in person and drive it before purchasing).
I own two Mustangs (one Fox and one S197) and am not super familiar with the classics so any advice on what to look out for such as where to keep an eye out for rusting would be greatly appreciated. Thanks.
There are very few 64-66 coupes that are worth more than 20k. For 20k you should be able to get a very good example....fastbacks and convertibles are something else...but its a very special coupe that sells for more than 20k, maybe an A-code would sell for more than 20k(and of course a K-code) but a standard C-code or T-code is going to be less unless its very low mileage.
You should be able to get a really nice coupe for that budget. I would check FB market place, and just a basic online search for your area to start with. As far as what to look for. Check the cowl closely. It's very hard to keep that area clean. Over time dirt and leaves and other stuff gets down in there and causes rust issue. Not impossible to fix, but not easy and it can be expensive. Besides that id say the normal areas. Get under the car and check the floor pans, rocker panels, wheel wells, trunk. Oh in the trunk at the very back of the car there is an area that you can look/feel down into that is pron to rusting out. One pocket on the left and one on the right.
These cars were never meant to last this long, so they have issues. Check the classic car dealers, but those cars are usually your nicer examples and they tend to want a fortune for them.