Fully Redoing 1968 Fastback Mustang

Hi (this is my first post btw)!
Is it possible to pretty much completely redo a 1968 Ford Mustang Fastback? It was my dad’s first car and it would be really cool if it could be mine too. We would need to completely strip the interior and probably swap the engine for a more modern, fuel-efficient one. We would also need to repair the outside since it is pretty damaged. Do you think it’s even worth it? Would there be any way to add airbags or additional safety features? Can anyone recommend parts? Sorry for all the questions. Thanks!

You might want to try the nearest Mustang club for someone who can look the car over and give you an idea of what it’s going to take to do what you want. Airbags aren’t possible but you can upgrade the brakes among other things.
https://www.cjponyparts.com/1968-mustang-parts/c/60000000/

Anything is possible with enough $$$$&&. Restorations and restomods are done all over the country by many shops and by individuals in their own garages.
You did not say which engine it has, but I would stick with the original engine, the carb can be replaced with a TBI, ignition can be upgraded. Have it rebuilt. If it has drum brakes, they are adequate if driven sanely, but disc conversion kits are readily available.

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Old Mustangs have one of the best parts network out there, so anything is possible. First question: how bad is the rust? That can be big $$ to fix, and Mustangs were terrible rusters.

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All good posts above. Mustangs have a great supply network of reproduction parts that can restore your car as it was built or modernize almost everything. Airbags are not possible but modern 3 point belts are possible. Fuel injection and electronic ignition can really help fuel mileage and drivabilty of the old V8. More modern 4 or 6 speed overdrive automatic transmissions, too. Or 5 or 6 speed manuals. Disk brakes. Complete interiors, power window and lock kits.

Worth it? If you pay to have this work done, no, you can’t sell it for what it cost you. If you do most of your own work you might break even. But it was your dad’s car…there is the value.

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Ok thank you! Upgrading brakes is probably one of the things that we will do.

Would it be possible to swap for a V8? The original engine gets terrible millage so that’s what I’m worried about.

The rust is pretty bad it’s been sitting for ~10 years in all types of weather.

Yeah that’s a good point and that’s probably where the value is

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Six cylinder? Yes a V8 swap would be great, but I would go with a 351-408 ci small block Ford.

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before you do anything you need to figure out how bad the rust is. just like building a house, you start with the foundation.

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Yes, provided you have the knowhow or the wallet for it

What engine does it currently have? If it has desirable engine like a 428 or 390 then you probably wouldn’t want to get rid of it. If it has the I6, then it wouldn’t be a big deal.

Obviously nobody here can answer that as we don’t know what kind of condition it’s in.

It would introduce a level of complexity and expense that most people aren’t going to want to introduce to a restoration project.

Need to know what you’re starting off with before we get into that. The good news is that the Mustang is one of the most frequently restored cars around, there’s no shortage of suppliers and parts.

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If the rust is bad, reconsider this project. It’s going to take a LOT of money to turn a rusted out 6 cylinder into a clean safe drivable V8. Who will be doing the body work?

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The engine is probably worn out and leaking fuel . This is one of those what could be a very expensive restoration ( easily 50000.00 ) . My choice would be to put it back to original condition and don’t even think about ever selling to get back any resonable amout of the cost.

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Do you have a link for that?

Ok I will assess later today.

I’m not sure I can ask my dad.

We could maybe go to a shop or something or do it ourselves…

Please to not be offended, however based on your question of how to do a Google search for crate motors, I think this project is well beyond your capabilities.

My guess, you are in junior high, see if your school offers automotive shop class.

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Would suspension upgrades be needed to switch to a V8?

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The different engines most likely had different spring rates.
An FE does weigh more than a I6.

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My dad wanted to give me his 1970 Ford Bronco for my first car. Unfortunately, it had been sitting at my grandparents house for at least a decade or two, and getting it functional again didn’t make sense for number of reasons.

Looking back now, with kids of my own, I’m also aware that “vintage” cars/vehicles aren’t nearly as safe as today’s cars, especially for new, young drivers. I wouldn’t have my 16 year old in a 50 year old anything vehicle, myself.

It’s painful to admit, but trying to “restore” this Mustang probably won’t make financial sense, and in reality, is not the best vehicle for a new driver. Feelings and sentimentality get in the way sometimes, though. It’d make more sense to hold onto the Mustang and restore it in a few years, hopefully when the “storms” of youth have settled somewhat.

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For the '65 you have to replace springs, rear axle and most/all of the front suspension. The 6 had 4 lug wheels, the V8 5 lugs. All those parts are easy to get, probably would want to redo the front suspension anyway. And I’d sure want to go to front disc brakes.

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By 68 I suspect all the Falcon sourced four lug hubs had been depleted. But I don’t know.

I checked on some Mustang forums, '68 6 owners there asking about how to upgrade to 5 lugs from 4 lugs.

Old cars, even Mustangs, aren’t worth much in the used-car market $$-wise unless you do a near-perfect restoration. So that’s one option, go whole hog. The other is to return it to the road in a reliable, drivable, safe, and presentable condition just for your own use. Mustangs are popular choices for this treatment and there’s lots of help available, both parts, and information, e.g.