This is not mine but I went to look at it today.
http://seattle.craigslist.org/oly/cto/1784192332.html
It started out as $1,200, then $1,000, then $900 now $600. I wrote to them and they came down to $500.
I went to take a look and it is a 302 5 speed conversion. The rear axle is broken and this is why they came down. They said the engine has 130,000 miles but it looked fairly clean.
But it has lots of other problems (I wished I brought my camera with me). The interior is all apart and very dirty (and ash trays are full of cig butts). The shifter has no handle and seems very loose to me in feel. The wiring is a nightmare with wires running everywhere (they ran wires to the speakers outside the dash and then tucked them under the grill), the radio has been ripped out and the seats has tears. The engine looks fairly clean and has a Holley 600 carb on top and a nice single belt system. Very simple looking since it no longer has any emission controls or AC. Factory Mustang shorty headers with duals ending in front of the axle. It has a 87-88 Turbo coupe hood and 10 hole wheels with bald tires.
It has a wire going from the battery to a toggle switch to the coil so I don't think the key works (they were not there when I looked at it).
I could not pull the trigger at even $500 and offered $250 for a parts car but was turned down. Most likely this is a good thing because my wife would kill me. Who knows I still may hear from them.
Would the 86 5 speed hold up to a V-8? If I did end up with it I would use the engine and trans in a 67 Mustang I have (now it is a six with 3 speed manual). I would part out the rest of the car.
Anyway I just wanted to see what you guys thought.
TED
At $500 its not a bad deal. If ya can get it cheaper by all means do so. As far as the 5spd, it kinda depends on what it came out of. If its a W/C box then it'll hold up fine behind a mild engine. Just remember to use the left pedal when ya shift.
Did the 86 TC come with the WC or was 1987 the first year?
TED
the TC 5 speed and V8 five speeds do not interchange directly , the input shaft is different as well as some other stuff.
I 'm not sure when they started the WC in v8 cars
if I remember correctly the WC started in 85.5 but I am not exactly sure. I think Tom is the guy to ask about this one.
You just need a different pilot bushing in the back of the V8, and you're good to go.