If you are looking at buying a classic Ford Mustang, then there are some must-knows before you start shelling out the cash. You should know which models are limited production models, and therefore are worth more, and what you can live with restoring and what you can. Thanks to a wide availability of parts for the Ford Mustang, you can restore pretty much any car that you come across, but it is a much better idea to find one that needs a minimal amount of work to restore, than to spend years replacing parts and components.

The first Mustangs are always a safe bet for value. The first cars are either the 1965 Mustangs, or the 1964 ½ Mustang. These two cars are virtually indistinguishable from each other, but late 1965 saw the GT models of the Ford Mustang, with a V8 engine with 306 horsepower. These were first generation Mustangs, comprising the years from 1964 to 1973, and are generally what are referred to as Classic Mustangs.

We will examine how to buy a classic first-generation Mustang, and what things you should look for when buying one for restoration.

The 1964 and a half and the 1965 models can be known by the chrome grill that had a distinctive waffle iron style. The only details that differ between the 1964 and 1965 models of the Mustang involved trim differences, a different alternator, variations in hood assemblies and differences in the interior of the cars. Although the 1964 ½ model is called thus by Ford and car enthusiasts, and was actually produced in 1964, legally they are all 1965 models. The 1966 model can be identified by the finned grille and finned quarter panel molding as well as by incorporated GT gauges on all models.

The 1967 model of the Ford Mustang had a larger grille and a concave tail lamp. This model had a larger dashboard, and a larger engine space for the optional 390 V8 engine block. The 1968 model of the Ford Mustang is easy to recognize. This was the only model of the Ford Mustang that incorporated side marker lamps on both the front and rear fenders. Now, that you know what you are looking for, let's take a look at some of the options that you'll want to watch for on desirable Classic Ford Mustangs.

With the models in the first two years you'll want the well equipped models. What you'll want to look for specifically are the convertible Ford Mustangs and Fastback Ford Mustangs models. As far as engines go, the high performance K code V8 and C code four-barrel 289 engines should be the ones that you are looking for. With interiors, the décor interior is a great option with the pony upholstery, the rear seat arm rests that are padded and deluxe dash and interior trim. Also, look for those that have the air conditioning floor console called the Rally Pac which improves the value of the car.

What you'll want to look for mostly when buying a classic Ford Mustang is the body. The structural integrity of the Mustang is vital as the chassis and the body are combined. You'll want to make sure that you check out the body and drive train carefully in areas like the floor torque boxes on the front, the rails for the rear frame along the gas tank as well as the leaf-sprint perches and the front frame rails and the saddle for the engine. Also, take a careful look at the rocker panel and the door sills. Make sure that none of these areas have rust

The next thing that you'll want to check after making sure that the body and the drive train is sound should be the interior of the car with special attention to the cowl ducts. Make sure that there is no rust in the fresh air intake that sits between the hood and the windshield, because the vents may be rotting from leaves and moisture, which can cause the sheet metal to sit unprotected. If you want to know if there is a problem with the cowls then a good sign to look for is wet carpets in the front, because the water will drip onto the floor when giving water to the fresh air intake.

Also, when looking at convertibles, make sure that the frame brace under the floor is all there and open and close the doors with the convertible top half lowered, to check the structural integrity of the uni-body. If the doors sag then it could just be hinges that are worn out. However, on convertibles, you must check the rocker panels and door sills to make sure that they don't have rust on them. They can be repaired, but it will be an expensive option, so you'll want to try to make sure that you find out before hand if you will need to do this.

Make sure that the shock towers haven't weakened over time, or that there isn't damage or fatigue on the metal. Look for spidery lines or ripples at the bottom of the towers where the frame rails come together. The carburetor that came with the car was the Autolite 1100, 2100 or 4100, but often you will find an aftermarket carburetor installed instead because of poor driving issues or flat spots with the original carburetor. Rather than using an aftermarket carburetor, have the Autolite rebuilt to take care of the problems.

After you make sure that the Mustang is solid check the transmission and the engine and all of the options. You can find the transmission coded into the driver's door tags and the engine in the VIN number. There is a whole process for decoding the numbers for Ford Mustangs, which you'll need to learn or have someone look for you. If you can keep these details in mind, you will be able to get a solid classic Mustang that you can restore, without too much trouble and work, and without spending a great deal of money for the parts and components that you can be proud of.