Originally Posted by ClevelandRocks

Have you had an experienced body man who understands vintage Mustangs look at the car yet? At 3 grand, you stole it but it could possibly need thousands more in the frame rails, floors, rockers etc. In any event, you have most likely found a great buy. It would be worth checking the vin number on the car and also the engine casting numbers to see what's what as far as original. If all seems to be original a restoration might be a considered option.

If you feel that isn't important you could likely rebuild the engine with mild cam, intake, carb and exhaust mods for under $3,000.00 or you could choose a more serious engine rebuild and mods which would require additional frame and suspension mods, transmission mods, and higher stall converter. You could easily spend $8,000.00 and up going that route.

Best bet would be to find a 289/302 message board where vintage and late model Mustang owners would abound.