There will come a time when buyers of pony cars will be relegated exclusively to the used car market. Today’s Mustang is an example of what’s to come. Let’s see if it’s priced to make that lesson a valuable one.

Well, it looks like yesterday’s went all Shaquille O’Neal on us. That’s not because it wore a Lakers number 34 jersey, but because most of you felt its $6,350 price was a slam dunk. A 92 percent Nice Price win was the result, with a few “if it were any closer to me…” comments thrown in for good measure.

When Ford introduced the Mustang in April of 1964 it had an immediate hit on its hands. People weren’t just lining up to buy the fashionable coupes and convertibles, they were clambering aboard arriving transporters to claim their ’Stangs at the dealers. With the Mustang, Ford invented the pony car game and the company has been playing it pretty successfully ever since.

Today, early Mustangs can fetch a pretty penny, with the first-gen cars (1964 — 1973) reaching well into five-figure territory. The second generation, Mustang II cars that ran from 1974 through 1978 have not generated as much enthusiasm, nor is there any indication that they ever will. The third, which was introduced in late 1978 as a ’79 entrant, falls somewhere in between those extremes. It’s also the least Mustang-y looking of the entire line.

This appears to be an excellent example of that third-generation line. Fitted with a V8 and five-speed stick, it’s also well kitted. This was the first year for sequential fuel injection on the 5.0 V8 and while horsepower dropped by 10 to 200 from the carbureted engine’s 210, drivability and efficiency improved significantly.

There are only 70,000 miles on this car which means its engine is barely broken in. The years do add up, though, and since the new has worn off, this GT has gained a stainless steel exhaust aft of the cats, a strut tower brace in the engine bay, and new upholstery in the cabin. According to the ad, there has been a ton of other maintenance and repair work done to keep this Mustang on the straight and narrow.

It looks good too. The white paint may not be the most exciting color on a Mustang of this generation, but it certainly helps the black trim and hood decal stand out. The top appears fully functional if a bit frumpy. A luggage rack on the trunk lid offers placement for the federally-required third brake light and probably could hold some luggage in a pinch as well. Handsome factory alloys underpin.

The cabin is red. Like, really, really red. The ad says that the seats have been reupholstered in the original pattern fabric and contrasting gray piping. The front buckets face a flat rectangular dash, and, for the driver, a sport steering wheel and white-faced gauges. Oddly enough, there doesn’t seem to be any indication that this car was ever outfitted with air-conditioning. I know that it’s a convertible, but that’s still pretty brutal.

The seller claims that “You will have a difficult time finding a mustang of this age in better condition.” That kind of condition costs money, and in this Mustang’s case, that’s a cool $14,900.

What do you think about this well-preserved and seemingly properly maintained Mustang and that $14,900 price? Does that feel like a deal for the nicest ’Stang on Craigslist? Or, is it way too soon to be asking that kind of money for an ’80s pony?

You decide!

Detroit, Michigan, , or go if the ad disappears.

H/T to RevUnlimiter for the hookup!

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