How must rust is too much?

Well, it sounds as if this is the type car you want to end up with, but you still haven't answered the basic question. Is this going to be a project you are willing to do yourself? If not, you would be better off dumping it and getting a cleaner 68 coupe. Nice ones can still be had for under 10 grand. V8 powered ones, even.
 
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Okay in simple terms;

1 How much money are you willing to spend?

2 How much time are you willing to spend?

Are you willing to spend $10K
Are you willing to put in nights and weekends to get is right?

or
Do you just want to have a driver, and not worry about working on it?

With a 10K budget, in theory you could find a better car in better condition.
 
I hate to say it, but i agree with the general consensus on this one. If you don't plan on doing the sheetmetal yourself, it would definetly be cheaper to find another stang in better shape. Unfortunately, depending on the condition of everything we haven't seen yet, it may be cheaper even if you do the work yourself (ask me how I know). But I am also happy with my stang (68 Coupe also) and never plan on selling it, so it will be what I want, and I don't mind spending the time and money on it (a LOT of money and time). In the end you have to do what you want. My car will never be worth what I put into it, and that's fine with me.

On the other hand, if i had known before I started how much needed done...I would no question have a different stang.
 
Not to hijack the thread or anything, but the bright side with my coupe is all of the rust free metal it now has: Floor Pans, seat supports, cowl vent, package tray, trunk floor, rear crossmember, wheel houses (yes, both), Quarter panels, front fenders, doors, taillight panel, deck lid, hood, front and rear valence, stone guard, radiator support, battery tray and associated apron section, and toeboards (and anything else i may have forgotten). It must be a labor of love. :rlaugh:
 
If it's your first stang, you're gonna love it either way. I just got a '62 Rust-Free Ranchero yesterday for... FREE! Drove it 70 miles home, in the rain. =D Well, it cost me 15$ in gas or so. I say, keep the car, and bring it over to www.fordsix.com and we'll talk sixers. =D
 
Hey you guys are awesome. I guess I' haven't been clear enough in that... as much of a total newb as I am, most of my reason for paying low $ on such a "project" is because I wanted the project. And, because I don't have $10k. I don't even have $5k. But I can throw $ at it here and there over time. Plus, I've never really been the kind of person that pays more than I should to have someone else do something that (I think) I'm capable of. How do you strand around a car that is rebuilt and say "Um, I don't really know, I didn't do that part". I want to know every detail of this car from the ground up so at some point, some year, when I am driving it - it truly feels like MINE.

Okay sorry to blabber on. So the good news is that I have a friend that welds, owns several, who is willing to help me with floors to get started and "show me the ropes", in exchange for food and beer, and then lend me a "mig" (?) welder for a while. So I am psyched.
 
After thouroughly reading the comments, then going back and carefully re-examining the photos I'll add this:

Aside from the hideous wheel covers and the bent driver's rocker moulding, the car doesn't look that bad in appearance. The interior, of course, has a non-stock (and non-matching) driver's seat and the original "grampa's car" steering wheel which both would make me lose sleep at night unless you plan to replace them.

The rust. Being that you want to drive it without breaking the bank (oh I'm going to get in trouble for this), I would first suggest getting the plastic cowl repair hats. They come in a kit for under 20 bucks and could very well solve any cowl situation you may have so long as it hasn't gone too far. They are relatively easy to install. Without fixing the leaking cowl (and we are assuming that is the case) all other floor repairs will be in vain.

The floors could be done one pan at a time in either full sections or the smaller subsections. You could even buy the entire one piece floor and cut the sections you need out and put them in.

The quarters you can just leave patched and paint the inside of them with rust convertor, followed by rustoleum, trunk paint, or undercoating. Basically something to just seal it up good for the long term.

My thoughts are only to do jobs that keep the car driving and presentable for now so you can enjoy it. As time goes go on you will learn what more needs to be done, or what you will want to look for in a different mustang.
 
Ha! What, you don't like the driver's seat? LOL. All good advice (particularly the cowl before doing the pans... or all at once is my hope). But I'm not sure I want to band-aid it as much as I want to do it right. I confess I continue to keep checking all the usual supsect places, watching out for something else (in which case I probably would just sell this and reclaim the $$) but until then, I think my plan is to just dig in. Sometimes I think this car found me.

In any case, I really appreciate all the feedback from all angles. you guys are great.
 
Wow! I didn't realize that was even a possibility. I can only imagine what one of those cost. Holy cow. For me though - call me crazy, I'm probably the only person on the plant - I actually like the coupe look more than the fastback :0
 
Wow! I didn't realize that was even a possibility. I can only imagine what one of those cost. Holy cow. For me though - call me crazy, I'm probably the only person on the plant - I actually like the coupe look more than the fastback :0

Believe it or not, you ain't the only one. People always ask why I didn't get a fastback and thats exactly why. I like the coupe better =-)