By Dean Larson

Scour the market for a 1965 Mustang fastback and you’ll find plenty of options in the $40,000 range. However, none of those are likely to get the same amount of attention as this initially unassuming example on Craigslist. It may seem sedate at first, but keen eyes will notice the hood scoop and special Cragar Shelby wheels, unique to early Shelby GT350s. This Mustang wasn’t born a GT350, but it’s been treated to many of the Shelby upgrades, and is selling at less than one-tenth the cost of an original. Convinced yet?

Shelby GT350s produced in 1965 and 1966 are regarded as the purest, most performance oriented of the breed, and the ’65 model is the rarer of the two. A ’65 GT350 restored to original specification can run as much as $600,000 currently, ensuring its garage queen status. But Shelby’s GT350 was built as a no-frills, high-performance machine, capable of punching above its weight, and driving it would be the true pleasure of ownership.

At a mere $43,000, this Shelby GT350 tribute begs to be driven. The car is an original fastback 289 car, but these values haven’t reached the point where driving is discouraged. The owner of the Mustang has spent the last 16 years transforming the car into an honest-looking GT350 replica inside and out.

At a glance, you’ll notice the fiberglass hood with scoop, distinctive Cragar wheels and bare bones grill insert characteristic of ’65 GTs, but the transformation goes much deeper. The engine bay has been treated to a meticulous restoration with as much original hardware as one could hope to see. OEM-style hoses, clamps and stickers are in place and the final product is surgically clean. The engine was also topped off with Cobra valve covers, a GT350 strut brace and a Cobra intake. You’ll also find cast Cobra pans on the engine and transmission on the underside. From a mechanical standpoint, this Mustang looks like a 10/10.

The interior is also presented very well and features more nods to the GT350. The pod in the center of the dash encloses a tachometer and oil pressure gauge, like the original, and a Cobra steering wheel is fitted as well.

There are only two items I’d consider changing on this car, and I do mean “consider.” While not every ’65 GT350 received full-length Le Mans stripes, the side stripes and GT350 insignia were applied on all cars. The side stripes would add some authenticity, but the car is charming as is. Also, the interiors on all ’65 GTs were black with the rear seats removed and a spare tire in their place. Swapping the whole interior to black and ditching the back seat doesn’t quite seem worth it at this price point, but it’s always an option.

If I had $50,000 and was looking to invest in an early fastback Mustang, this would probably be the one for me. The car looks to be in fantastic mechanical and cosmetic condition and the GT350 add-ons make it stick out from the crowd. At $43,000, its also fairly cheap compared to similar cars for sale.

See the seller’s ad here on Pittsburgh Craigslist.