[onewhippedpuppy]

I used to own a 1970 Mustang convertible that belonged to my grandfather. 302, automatic, front disc brakes, pretty average classic Mustang. These cars are by no means a sports car, or even a sporty car. In stock form they drive like an old truck. If you invest probably an easy $15k to fundamentally overhaul the suspension including the geometry, brakes, and convert to rack and pinion steering you might have something that at least handles and steers like a semi-modern car. Even if you buy something with more punch than a standard 302 you’ll be dealing with the “charm” of a carbureted classic. I sold mine to my dad because I concluded I would never get it driving the way I wanted.

Not trying to be overly negative but this doesn’t tie with your original criteria, just go into it with your eyes wide open. $20-$30k gets you a good clean fastback Mustang, so budget more for upgrades to make it a reasonable driver. There are guys who have spent $100k on a full up resto mod muscle car and they still drive like crap compared to any modern sports car. Or for that matter, a modern Mustang which are really great cars.