Raven Black 1966 Ford Mustang With Rebuilt 302 V8 and Four-Speed Seeks a New Home

A 1966 Ford Mustang finished in Raven Black has surfaced for sale in McKinleyville, California, carrying an asking price of $22,500 or best offer. The car is described as a black-plate example that has lived its entire life in a mild climate, and it still wears all of its original steel. Panels are reported to be straight, while the fairly recent paint shows few chips or blemishes, and the chrome trim along with the glass is said to be in excellent shape. Period-style alloy wheels round out the exterior.

Under the hood, the story has changed since the car left the factory. A VIN decode shows the first owner selected the C-Code 289 V8 rated at 200 horsepower and 282 ft-lbs of torque, backed by a three-speed manual and a 3.00 rear axle. Neither the original engine nor the transmission remains; a rebuilt 302 V8 now sits in the bay paired with a four-speed manual. The seller does not specify when the rebuild took place or how many miles have been added since, but notes that they are the car’s second owner and hold paperwork reaching back to its showroom days.

The black vinyl interior presents just as strongly as the outside. Seats and carpet show no visible wear, the dashboard and pad appear free of real defects, and the steering wheel is clean. A column-mounted tachometer is visible in one photo, though its position partially blocks the speedometer. With 607,568 units sold, 1966 was the strongest year of first-generation Mustang production, before rivals like the Pontiac Firebird and Chevrolet Camaro began eating into volume.

Values for 1966 Mustangs have softened over the past six months, so anyone shopping purely for investment potential should weigh that trend carefully. Whether the dip is a temporary correction or a longer shift is hard to say, and the same uncertainty applies across most of the classic market. Buyers chasing a well-kept first-generation car as a driver, however, may find this one worth a closer look.