Welcome to Down On The Street, where we admire old vehicles found parked on the streets of the Island That Rust Forgot: Alameda, California. We haven't seen an Alameda Mustang since this '67.

That was eight months ago, and I can think of at least a half-dozen unphotographed 1960s Mustangs around town, so let's take a look at this lil' red devil with the super-rare horseshoe bumper guards.

This is our third Alameda 1966 Mustang, after this beat-to-hell one and this pretty nice example.. At this point, Alameda has provided at least one example of each first-generation Mustang, with the exception of the '64-1/2 and 1970-72 models. I'll keep my eyes open for those, so we can complete the set.

In 1966, the base Mustang coupe cost $2,416; add a 289-cube V8 and you'd spend an extra $105 (for the 225-horse version) or $433 (for the 271-horse version). If you wanted the 390 from the factory, tough luck- that wasn't an option until '67. The base price on the '66 Ford Falcon coupe- under the skin, essentially the same car as the Mustang- was just $2,060, with the same 289 engine options available. Then consider this: for $2,183, 1966 car buyers could have picked up a Chevy II coupe with a 275-horsepower 327 (and anyone who knows how much the 350-horse L79 327 option cost, please let us know). Clearly, the Mustang's styling made it a huge cash machine for Ford, though this was the last year for zero serious competition from The General.

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1966 Ford Mustang

1966 Ford Mustang

1966 Ford Mustang

1966 Ford Mustang

1966 Ford Mustang

1966 Ford Mustang

1966 Ford Mustang

1966 Ford Mustang

1966 Ford Mustang

1966 Ford Mustang

1966 Ford Mustang

1966 Ford Mustang