J-Code 1968 Ford Mustang GT Is a One-Year Survivor in Need of TLC

The 428-cubic-inch (7.0-liter) Cobra Jet is obviously the most iconic. Part of a package that turned the Mustang into a drag-ready pony, it delivered 335 horsepower and 440 pound-feet (597 Nm) of torque. It was the most powerful option available at the time.

The second engine is not as celebrated, but it became the top-of-the-line non-Shelby option in terms of small-block power. I'm talking about the 302-cubic-inch (4.9-liter) V8. Ford offered two versions. The two-barrel unit came with 210 horsepower on tap, while the four-barrel variant generated 230 horses.

Following the discontinuation of the 289-cubic-inch (4.7-liter) HiPo K-code engine, the four-barrel 302 became the most potent small block in the lineup. This particular displacement soldiered on in the first-gen Mustang through 1973, but the four-barrel variant was discontinued after only one year. This makes the 302 J-code Mustang a one-year-only gem.

It's not a super-rare 'Stang, but it's definitely one of the 1968 ponies you won't see very often nowadays. This blue fastback is one of those rigs. And even though it looks like it still needs a lot of work, it hides a nice surprise under the hood.

An authentic GT with an extensive options list that includes power steering, a Deluxe interior, and AC, this Mustang is a numbers-matching classic. And it's not just the 302 J-code V8 that sports the date-correct factory numbers. The C4 automatic transmission and the rear end are also original.

In fact, the entire car appears to be highly original at first glance. I say "appears" because there's no info on whether the metallic blue paint (is this Acapulco Blue?) is the original coating, but everything points out to a fully-fledged survivor. Sure, the wheels are aftermarket and one of the front fenders has been replaced, but the interior shows the type of wear and tear you'd expect in such a vehicle.

The same goes for the engine bay, which is pretty clean but nowhere near as nice as a Concours-ready classic. But the most important thing here is that the Mustang is rust-free and the 302 V8 runs and sounds healthy. This pony is a repaint and a bit of TLC away from becoming an auto show classic.

Speaking of which, the engine/transmission/fastback configuration likely makes it one of fewer than 10,000 units built. But that's the kind of info you'll find in the seller's Marti report. Yes, this Mustang is for sale and it will cost you $49,000 to take it home. Check it out in the video below.