In Pursuit of the Model Mustang
Since its explosive debut in 1964, the Ford Mustang has wowed teens and grannies, secretaries and CEOs, and just about everyone in between, thanks to low prices, varied body styles and options galore.
Today, prospective owners of used Mustangs face thousands of choices when eye-balling Ford’s best-selling car since the Model T, ranging from plain-Jane daily drivers starting at $2,000 to rare high-performance Mustangs fetching $200,000 or more.
Mustang enthusiasts generally regard the first-generation cars (the ’64 to ’73 models) as having the most sex appeal. And a properly restored early ‘Stang--collectibles excluded--will usually cost less to insure and maintain than a later model, yet be just as reliable.
While the newer Mustangs still are depreciating, the first-generation ‘Stangs generally are appreciating. And whereas Mustang motors from 1974 to the present exhibit more hoses than a fire truck (a result of stiffened emissions regulations), the earlier Mustangs have engines that are easy to work on.
As the saying goes, they don’t make them like they used to--and that, with regard to Mustangs, is generally a good thing.
Facts are, the power steering is nicer in later Mustangs; the newer cars are quicker, safer and stop sooner; they get better gas mileage; the seats are comfier; the sound system is superior; they pollute less; handle better; and the list goes on.
Mustangs from 1994 and later have the advantage of 25-plus years of technical improvements, which is worth remembering if you intend to own one of the 7 million Mustangs made and aren’t hell-bent on buying a first-generation model.
Michael Eisenberg, owner of Maeco Motorsport, a Northridge auto shop specializing in performance enhancements for vintage Mustangs, got it right when he said: “The newer Mustangs don’t have the class, the taste, the style of the old Mustangs, but they are definitely better cars.”
The older Mustangs, immortalized by great chase scenes in “Bullitt” and “Gone in 60 Seconds,” typically sold for about $3,000 new and featured an array of options.
In 1969, for example, Ford offered no fewer than 10 engines, 17 exterior colors and 40 other options (tinted windows and power convertible top among them) for its pony car.
The standard engines in the first-generation Mustangs are 289- and 302-cubic-inch motors belonging to the 90-degree V family, which are arguably the most reliable engines Ford ever made.
Parts are readily available, and between the two engines the 302 (also known as the 5.0 liter) is by far the most popular Mustang motor.
The hottest factory-produced Mustangs were the Cobra, Boss, GT and Mach 1. These typically had large engines, souped-up suspensions and more, as did Mustangs modified by Carroll Shelby from 1965 to 1970.
Many of these cars are worth many times their original prices. Buyers love the style and power and generally ignore that most aren’t that quick by current standards and today’s gas prices make them impractical to drive.
Older Mustangs with engines exceeding 351 cubic inches typically get about 10 miles a gallon, according to Jim Grubbs, owner of Jim Grubbs Motorsports of Valencia, which manufactures custom engines for Mustangs.
If you’ve got a 25-mile commute and you’re getting 10 mpg, at $1.50 a gallon you’re paying $150 a month for gas just to get to work and back each day.
Whereas first-generation Mustangs are classics, the Mustang II is classless and should be avoided. Ford engineers, struggling with federal emissions standards, produced gutless wonders from 1974 to 1978. If you can recall the yellow ‘Stang driven by Jaclyn Smith in the TV series “Charlie’s Angels,” you’ll know Mustang IIs weren’t visual stunners, either.
Third-generation Mustangs (‘79s through ‘93s) are notable for two things: the standard 2.3-liter four-cylinder engine, which put out a paltry 88 horsepower most of its miserable life, and the reintroduction in 1982 of the sporty GT after a 12-year hiatus.
Although initially anemic, the GT gradually gained power and lost weight, so that by 1987 GTs fitted with the optional 5.0-liter V-8 were quicker than most of the big-block first-generation gas guzzlers.
However, because third-generation Mustangs aren’t collectors’ items and typically come with high miles, they ought to be viewed as transportation vehicles. Moreover, pre-1986 models commonly choke on smog tests.
If you opt for a third-generation car anyway, consider finding one modified by companies such as Roush Performance, Steeda Autosports or Saleen Autosport.
Like the Shelby Mustangs, these performance-enhanced, higher-priced ‘Stangs are superior vehicles. Saleen Mustangs, built in Irvine, first appeared on the retail scene in 1985, the Steeda GT in 1990 and Roush Mustangs in 1994.
The current generation of Mustangs (‘94s and newer) are modern cars with dual airbags, a power driver’s seat and a tilt steering wheel.
Beginning in 1994, the punchless 2.3-liter four-banger was replaced with a 3.8-liter V-6 producing a respectable 145 horses. A passive anti-theft system became standard in 1997.
Two model years later, the Mustang was extensively restyled and the standard V-6 engine upgraded to 160 horses. Changes since the ’99 model have been minimal.
Anticipate paying $2,000 to $12,000 for a reliable pre-owned Mustang of any generation.
Given their popularity, expect to pay at least $7,500 for a pre-’70s model that’s been competently restored. A loaded ’98 or newer Mustang typically carries a price tag of $13,000 or more, and a Roush, Shelby, Saleen or Steeda version will usually set back a buyer $25,000 or more.
If you are looking for an older Mustang or a highly tuned newer model, you’d be wise to follow the advice of Marlon Mitchell, president of the Mustang Owners Club of California and owner of Marlo’s Frame & Alignment in Chatsworth.
“For God’s sake have someone look at the car who knows something about Mustangs before you buy the car,” the proud owner of a ’66 hardtop said. “And don’t ever get in a hurry. It can take a couple of months to find what you’re looking for.”
Mustang shoppers also would be well advised to learn more about the car. The $12.95 “Mustang Red Book: 19641/2-2000,” by Peter Sessler, is a terrific resource.
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Scott Doggett writes about the used-car market. He can be reached at highway1@latimes.com.
