40k for what looks like a pretty plain jane car seems pretty high.
Maybe that's just me. The only Mustang I ever owned, I gave away.
If you are going to get into that kind of money, I would look for something more special.
Like this:
http://cgi.ebay.com/ebaymotors/1965-Ford...=item2328b20a4b
Don't know the seller, and of course you can't spend that kind of money on ebay without having someone check it out thoroughly.
Or this one, if you can stand the stripes:
http://cgi.ebay.com/ebaymotors/1965-Ford...=item2c6d0b5b09
And that one has a near twin:
http://cgi.ebay.com/ebaymotors/1965-must...=item3f22faa253
Not recommending any of these. Just thing the 40k one is overpriced.
I also don't know near as much about these cars as SportyWorty. I did, however, spend a year working for a guy that did nothing but buy two wrecked Mustangs (one hit in front, one hit in rear) and make one car out of them.