Most of us harbor secret dreams of buying a second-hand classic Mustang for pennies and turning into a stripped-out, balls-to-the-wall race car. Alas, it is hard to find an affordable classic Mustang these days, and even harder to find them out actually racing. But if we could get our hands onto the right car, oh the fun we would have.

Over at Bring A Trailer, it looks like we just missed out on our perfect car. This stripped-out, 1965 Mustang features nothing but the bare necessities, and looks just as it did decades ago. While not a Shelby GT350, the Terlingua Racing Team livery adds a whole ‘nother dimension to this car…as does the modern 5.0 V8 and 5-speed manual transmission.

While it isn’t an all-new Coyote V8, the pushrod 5.0 under the hood of this classic Mustang is of the newer 1992 vintage. That means a roller camshaft, more modern cylinder heads, and better long term reliability. On the engine dyno it also made 300 horsepower and 315 ft-lbs of torque, more than the classic 302s were capable of.

But what makes this Mustang stand out even more are the features it lacks. Not only is there no air conditioning, there is no power steering and no brakes either. Hell, you don’t even get a radio with this car. But you do get a racing suspension from Cobra Automotive, as well as LED taillights, subframe connectors, and a host of other upgrades that let this Mustang keep its original character, while delivering a few modern niceties.

Alas, this wicked Mustang racer has already been sold. Back to dreaming…