I got a '65 Mustang notchback in the spring of 1978. I think I paid $1,100 for it. Alpine white with ice blue interior, C4 automatic, 289, no power steering, power brakes, or AC. The favorite of all cars I've owned. It felt like it drove itself, particularly going uphill. Driving the steep streets of San Francisco was effortless.
I sold my dark green '64 Galaxie 4-door sedan to help recover the cost of the Mustang. That car had the 289 with a generator, C4 automatic, stripped down except for the AM radio, single speed wipers, beige bench seats, hub caps instead of wheel covers, and ran like a sewing machine. It only had 53K miles on it when I bought it in 1972 for $995 from a Buick dealer on a 12-month installment plan. Way more car than I needed, but in the summer of 1974 it did take four of us all the way to Mazatlan, just below the Tropic of Cancer, during a major heat wave, which only got worse the further south we drove through the Mojave and Sonoran deserts until we finally hit the coast. Still, the temperature gauge remained steady at about 1/4 of its range, typical of Ford engines from that period even at speeds approaching 90 MPH on hot, nearly deserted Mexican highways.
The Mustang seemed to be lighter than air with twice the power compared to the much heavier Galaxie. What a great car it was, and it too ventured into Mexico but only as far as Guaymas. A friend and I decided on a whim to drive down there for lobster dinner from Santa Barbara where we were staying for part of the month of August in 1978. Just one of the fun memories the Mustang helped to create. I sold it in 1985 when I knew it wouldn't pass a smog test anymore. I had been given my uncle/godfather's '68 Cougar (coppertone with off-white vinyl top and matching leather interior, nicely appointed, including the tilt-away steering wheel and had low miles), so it was time to let the Mustang go. I saw it on the freeway some years later. I recognized the license plate the the twin blue and gold stripes down the side. I saw it yet again more years later, but it had finally received a repaint in the same shade of white and the stripes were gone. Crazy in a metro area of over 1,500,000. It's probably still out there somewhere.