It seems like only yesterday that you could pickup an original Ford Mustang coupe for around $5000 and it would be a good running/driving V8 with a few miles, but prices have gone up in the past few decades and now finding something for $5k that isn't a burnt out carcass powered by an inline-6 is unusual. Find this 1966 Ford Mutang Coupe offered for $5,000 in Palm Springs, CA via craigslist. Tip from FuelTruck.
Its funny to think that after 50 years of inflation this car is only worth about $2,000 more than when it left the Ford factory, but that is the risk you take when you buy a new high volume passenger car...and the Mustang was indeed high volume. Ford sold over 1 million Mustangs in the first 18 months of production and the rest is history. This is probably the 200 horsepower 289 cubic inch V8 mated to a 3-speed auto -- not a bad combo for a cheap classic driver.
The most interesting part of this listing is that the seller includes an address for a parking lot that this car is sitting in -- and asks potential tire kickers to take a look at the car in person before phoning him up for a visit. See a better deal on a classic Mustang? firstname.lastname@example.org