What Engine Came In The 1964 Ford Galaxie 500, And How Much Is One Worth Today?

The 1964 Ford Galaxie 500 makes a great restoration project whether you're planning to restore it to original specs or make it into an awesome lowrider. One aspect that makes them appealing as project cars is the $9,300 median sale prices for models in "Fair" condition so far in 2024, according to conceptcarz. While lower condition cars should cost less, it's important to match the car's needs with your budget, willingness, and ability to address them. Even Fair condition cars will take time and money to make them pristine, but at least all the parts should be there.

Other than the car's condition, the engine it came with (and hopefully still has), drives the overall value. In 1964, the Ford Galaxie 500 featured the 289-cubic-inch V8 engine as its standard power plant. Engine options for 1964 included a 223-cubic-inch inline-six, and V8s with displacements of 352-, 390-, and 427-cubic-inches. Of course, the most desirable engine option is the 7.0-liter 427 which achieved near legendary status when it took racing by storm a couple of years after the 1964 Galaxie 500's production run.

The 1964 Galaxie 500's standard C-code 4.7-liter 289 V8 made 195 brake horsepower (BHP) with a 9.0:1 compression ratio and a Holley two-barrel carburetor. For comparison, the V-code 3.7-liter 223 inline-six made 138 BHP with 8.4:1 compression and a fuel-sipping single-barrel Holley carb that earned it the nickname, Mileage Maker.

Since fuel economy wasn't as critical in 1964 as it would be later on, engines with more horsepower were a popular option. One V8 option that retained the appearance of the base 289 engine was the A-code 225 BHP 289 with 9.8:1 compression and a Holley four-barrel carburetor.

The X-code 352-cubic-inch (5.8-liter) V8 delivered 250 BHP with its 9.3:1 compression ratio and four-barrel Holley carburetor. There were two 390 (6.4-liter) V8 versions available for the 1964 Galaxie 500. The first, a 300 BHP Z-code with 10.1:1 compression and a Holley four-barrel and the second P-code Police Special with 330 BHP, both delivered 427 lb-ft or torque.

Ford's 427 was available in two variants, identified as Q- and R-codes, for the 1964 Ford Galaxie 500. The Q-code 427, rated at 410 BHP, used a single four-barrel carburetor. The R-code version made 425 BHP thanks in large part to its dual four-barrel Holley carburetor setup and 11.5:1 compression ratio.

It's unlikely that most people choosing to restore a 1964 Ford Galaxie 500 are doing so with the sole intent on reselling it for a profit. However, knowing the car's potential value often makes investing the time and money required to bring it back to its original condition less painful.

Classic.com, a group of self-proclaimed "data geeks and car enthusiasts," currently has 12 1964 Ford Galaxie 500s listed for sale in the United States. These models range in asking price from $10,500 Blue over Blue 352 V8 with 76,372 miles to a Black over Black 1964 Galaxie 500 Police Interceptor powered by a P-code 390 V8 with 51,869 miles for $57,900.

Over the last three years Classic.com has recorded 66 sales of 1964 Galaxie 500s worth a total of $2.5 million. The least expensive sale for the period occurred on May 10, 2024 at Mecum Indy when an X-code model sold for $10,000. The highest selling 1964 Ford Galaxie 500 for the period was a convertible R-code model with a white exterior and burgundy interior. The five-year average price of 1964 Galaxie 500s is $35,642 while so far in 2024 prices have averaged $48,555 indicating a recent uptick in values.