I’m breaking one of the Rough Start rules for this 1979 Mustang Indy Pace Car: bring a trailer, son, because this Mustang isn’t running anytime soon. Surprised? You shouldn’t be. The 302ci V8 was still available for the Mustang line in 1979, and it was available on the Indy Pace Cars, but the hotter ticket in the stable was the turbocharged Lima four cylinder engine, which was close in power ratings to the V8, but offered better fuel economy, a real concern at the time, and the magic word of the 1980s: turbo. Unfortunately for Mustang fans who snapped up the four-bangers, they learned what most owners of early turbocharged cars found out: they were beta testers for a new system that wasn’t quite dialed in. Many a turbocharged engine died at the beginning of the decade…
At first glance, a $2,000 Mustang Pace Car looks like a score, and to be fair it’s not a bad price, but the 2.3L turbocharged four-banger met it’s end after attempting to take 15 PSI of boost. Is it a head gasket or the head itself? You can finish up the disassembly yourself or you can go ahead and start building the N/A 2.3L mill up. Or you could take the opportunity to double the cylinder count…it’s a Fox Mustang after all…this is one of the most buildable platforms ever sold by Ford. The Pace Car body kit and paint/graphics scheme looks good on the Mustang, and we might actually even consider keeping those wheels (off-hand: what are those called?) and wrapping them in BFG T/A radials for the classic look.
The interior is going to need a bit of help to bring it back up to par. The carpets are dingy, the factory Recaro buckets need re-stuffing and to be reskinned, the later-model gauge face needs to disappear for the standard 1979 model, and a general cleanup needs to happen. Luckily, most everything that will be needed can be found easily in the aftermarket.
We aren’t speculators and we aren’t real concerned with the collector car scene, but ever since Dennis Collins (aka Richard Rawlings’ rich buddy from Fast N’ Loud) broke records selling some of his Fox bodies at Barrett-Jackson earlier this year, we’ve heard lots of speculation about how cleaning up old Fox bodies is suddenly a great idea. We agree on cleaning up an old Fox, but this Mustang needs to run and drive, and with a little work and that five thousand dollar budget, this Mustang can do just that if you are willing to dump in a little sweat equity into the mix.
Craigslist Link: 1979 Ford Mustang Turbo Indy Pace Car edition
I remember a guy running around Indys south side in a brand new 302 probably 4 speed pace car . He’d cut off most of the exhaust and put some meat on the back and was having a ball with it . I had a 305 monza and a 4 sd and a limited slip all the exhaust cut of with a set of hooker headers and glasspacks bolted to them . I think we both thought we were close to driving prostocks ☺
I’d keep the 4-hole and step up to a newer Ecoboost model back by a 6 spd.
funny i found this, that is my car, and pictures from my craigslist ad (still for sale)
http://omaha.craigslist.org/cto/5989597600.html
sure the 4 spd isnt all that great, but car comes with a n/a 2.3 for some parts, and a 5 spd borg werner to swap in included in the price, and even local delivery!