Backyard find

Hi, all around newbie. Looking to do a first project. Not sure if I'm over me head.
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Me: Engineer, father of 3, part-time student(maybe full time student since I'm working on my 3rd degree at the University).
Past: 69 Z28 in high school
Today: 70 Mach 1 Auto with 351W 2V project car
I'm not looking to spend my entire paycheck on this project, wife would kill me.:nono: My goal is to create a low budget muscle car to drive to work on Fridays. The Mach 1 has disc spindles, but I purchased 70 drums and spindle to get the car home. Looking for most bang for my hard earned buck.

I hope this the right direction?
opentracker's front springs
Moog lower A arms, ball joints
Rebuild power steering system: stanerssite.com
MustangSteve's front disc brake brackets
MustangSteve or Ultrastang rear disc brake brackets
Lincoln Mark 7 aluminum brake master cyclinder
Carpet from trimparts.com
Taurus Electric fan
Edelbrock intake
Front bucket seat foam from American Cushion Industries
Package tray and sail panels from REM

Not sure where to look?
9" may need to be rebuilt
Brake booster may need to rebuild or replaced
Carburetor
Radiator
Interior seat covers
Rear fold down seat latches
Transmission rebuild
Engine rebuild, heads... not sure where to start
Electronic ignition
Door panels
Rear leaf springs

Your input will help.
 

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Ouch, I dont see a single piece of that body that isn't in need of quite a bit of work. Hope you like sanding!

Whatever, it looks good. If you're scared of a little sanding go put more lotion on your hands and pay someone else to do your dirty work.

Hit the car with a coat of primer to get everything one color and have fun with it. The car looks straight, looks like a good find.
 
I'd use a different master. Steve recomends a 1" unit off of something that is dirt cheap at $90 brand new. I'd buy all your suspension parts from OT. I think that's the least of your worries.

The bodywork ahead on that car, frankly, scares me. From here I can tell you you're gonna need two quarters and a tail light pannel, and probablly a core support in front.

If it were me, I'd rotissire that bad boy right up front so you knew what you had. Bag it, tag it, blast it, and fix it up as you can afford it.

On a positive note, it IS a Mach 1 so that's a plus.
 
IMO,
the rear end should be checked out, this car clearly has had a rough life. Posi and 31 spline axles?
Carb- I like Edelbrock.
Radiator- aluminum cools good and is lighter, use anode rod.
Rear seat latches are in NPD catalog.
Trans- Aod save some gas money.
Heads- Cheapest rebuild stock, stainless exhaust ,hardend seats iron guides.
Distributer- I have used accel and msd and happy with both. For street car I had some issues with optic ones with moister and dust.
Springs- depends on what you want to do with the car and how you want it to ride. You do should get rid of the extended shackles, they look bad and aren't always safe.

If this a numbers matching car make sure you keep the original good parts incase you want to sell it. Set it up how you want ,enjoy it, but you may not want to do anything that would make it hard to put back to stock. I wish your car was in my garage.
 
I didn't say I am afraid to sand (I have had two jobs doing just that) but if he restores those body panels, the car will be more patch and bondo than original metal. I would probably replace the majority of the sheet metal and push those dents in the roof out do avoid as much bondo as possible.

I have never liked the chopped top classic mustangs, why would somebody do that? It is a ton of work and leaves no head room for the passenger/ driver.

Did you guys have some tornadoes or a hurricane out there? That yard looks like it was in the path of destruction.
 
Low Budget? Look at the bright side, it doesn't need wheels. A good car starts with a solid foundation. There is no mention of the body and chassis repair in you post which is puzzling as this car obviously requires it's fair share. Have you looked underneath the car? If you are not capable of doing this work, hiring it out is gonna blow up the budget. A good guess would be your looking at 10-20K for rust repair, panel replacement, body work and paint. The parts you list are probably another 10K and the under hood expenses surely will run at least another 5K. Figure an additional 5K for everything you forgot and what you haven't found. Any way you slice it your looking at some dough to dance with this one. Is it worth it? Absolutely! But be realistic and know what you are getting into before you start.
 
Dont know how much bodywork you guys do but thats nothing I would shy away from. I think its a GREAT starter car that will take a LOT of love. The amount of money he wants to save is up to his mechanical ability and tool availability.

Heres what I see for metal work:
passenger 1/4 panel (just the skin, not a whole 1/4)...to bad you are not in tx, I just gave away a full 1/4 cut off an old rusted up car, but it was a great 1/4
pound out the dents in the roof
front passenger fender already has some work
the doors line up GREAT
headlights buckets could be replaced..the tabs are gone and they are a bit bent up
the core support doesnt look bent

I think its great. It just looks really rough because of the paint. Lots of sanding (I would have it blasted or dipped) but a solid start.
 
My shave and a haircut paint job is going to cost me $5K in bodywork, $1K in paint labor, $1K in materials plus all the parts that got replaced which I'd guess I'm about $4K deep about now. And I got a deal. It wasn't supposed to wind up this way, but they always do.

This car is worse than mine ever was.