It is pretty hard to find an early mustang without holes rusted through the floor pans. This is not a really big problem. A rusted out cowl usually causes it. Pour a glass of water down each side of the cowl and see how much of it ends up by the drivers/passengers feet.
Rusty shock towers are the most notorious problem. There are troughs behind the front wheels right about where the alignment adjustment screws are. These troughs collect dirt, hold water, and rust out the shock towers.
Also avoid cars with rusty frame rails.
Replacing the floor pans, shock towers, and frame rails are all pricey.
Welcome to the classics board,
-JON
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