QUICK! help me identify if this is a 65 K code fastback

It has a 66 grill, engine looks iffy and is missing at least a few external K-code items(intake, dist., valve covers, ex manifolds). Can't say I've seen too many automatic K codes either. I'd value it as a K-code body with a standard 289 drivetrain. Looks like its been in a very humid environment, might have more hidden rust than usual.
 
It has a 66' dash pad, 66' door panels, 66' bezel around the gauges(not the proper one for a 65' standard interior with gauges, and a 66' glove box door (again, not the proper one for 65' standard interior with gauges.)

Also a 66' grill, and 66' blue engine (65' were black.)

Far too many cars are represented as Hi-PO's. Just because it has an fancy air cleaner on it doesn't make it a HI-PO. With the headers and what appears to be an aluminum intake, and a wrong distributor, no chrome valve covers, 68' or newer rims, that car is just someones rusty old 66' V8 hot rod 2+2.
 
It appears to be a 66 but all of those parts could have been changed. To be a K code the 5th digit in the vin would have to be a K. If you can go see it post the vin #. Depending on the price a F/B with some rust could still be a good investment. Good Luck.
 
although it appears to have it's fair share of rust...It is still a fastback! And they are getting harder and harder to find unmolested and reasonable...

I would wager it is a 66 not a 65.

anyhow I would only purchase if either:

1. You had the money to work on it now

2. Yu had the money to buy it and store it inside until you had the money to work on it.
 
I've got a 66 K-Code Fastback and it has an original c-servo auto in it. There aren't many k fastbacks with auto's out there, so if you get the chance to have a look under the car at the transmission, the servo will have a big "C" stamped on it (a NOS C-Servo was sold on ebay for around $1500USD not so long ago and last year a complete auto trans was sold for $2200USD and it had been sitting since 1970).
 
If this is in fact a K code, it is worth restoring. Automatics were available in 1966 as previously stated. There are a lot of subtle differences for the K code mustang, take your time to insure it is not a clone that they are asking the K code price. There is a website dedicated to K codes, try searching for "289 high performance mustang." I own a 1966 K coupe myself.