First step in restoring a classic Mustang?
I hate the answer "drive it till something breaks". Anyway, I had the same question when I got my first Mustang - a 1967 notchback. These are my suggestions. Give it a tuneup. I'm not sure what engine you have, but you should be able to tune it up rather easily and get it running smooth. Then take it for a ride, and think of what you want to do with it. You have to decide what your limitations are. Restoring a car is a wonderful learning experience, and you will pickup more knowledge as you go. Start with the little things first. Tuneup, brakes, exhaust, oil change, wash and wax, detail the interior. The one thing that you don't want to do is to tear the car apart straight away. It's a good way to lose parts and get discouraged. Take it slow and join a restoration club. There are guys and girls in these clubs who have "been there and done that". You can also find someone in your area (through the club listing) who can help and give advice. I applaud you for wanting to restore and preserve your car. I have attached a link to the Mustang Club of America. I am a member and the other members helped me with my Mustangs when I though all hope was lost. Good luck.