Re: 65' Mustang - Rust?? Help
There's a couple of ways of looking at it, you can see what NADA says and deduct what you think the repairs cost. A decent paint can run $2000 - $4000 unless you do alot of prep work yourself, and you really need to know what your doing or it'll cost you more to reverse the damage that you do before the paint.
Mustangs are very popular, restoration parts can be a little steep, but often you can get decent deals at swap meets and E-bay. Just remember that if you find parts at a ridiculously low price, there's probably a good reason.
This particular pony is not that rare of a breed. Even though it's a fast back, it's not as uncommon as a GT or R series. Personally, I think it's a little steep, as it sounds more like a resto project. Even though most of the paint looks good, you don't know unless you sand it down or wait 'til more paint bubbles. Even for something to pick up as a hobby, it sounds a little steep to me, but I'm also stereotypically Scottish cheap.
What it boils down to is this: what can YOU afford after the purchase and what are you capable of. The best thing to do when purchasing ANY vehicle is this, remind yourself that they made more, look for the deal that'll suit your needs and abilities.