Challenges and Considerations:
* Transmission and Torque Converter: You'll need a suitable automatic transmission (C4 was common in '66 Mustangs) and the associated torque converter. Finding parts in good condition might require searching salvage yards or specialized suppliers.
* Driveshaft: The driveshaft length will likely need to be modified or replaced to accommodate the automatic transmission.
* Bellhousing: The bellhousing that connects the engine to the transmission is different for manual and automatic transmissions. You'll need the correct bellhousing for your chosen automatic.
* Shift Linkage and Linkage: The entire manual shift linkage is removed and the automatic transmission's linkage or cable system installed.
* Cooling System: Automatic transmissions require a transmission cooler, typically added to the radiator or as a separate unit.
* Control System: You'll need to install the necessary components for the automatic transmission's control system, including the kickdown cable (if applicable) and potentially the valve body and related components.
* Wiring: Depending on the year and options, you may need to modify the wiring harness to accommodate the transmission's electrical components.
* Floor Pan: While rare, some floor pans might need modifications depending on the specific transmission chosen.
* Rear End: While not strictly necessary for the conversion itself, an automatic transmission will often be easier on the rear end, which should be checked for condition before undertaking the conversion.
Cost:
The cost can vary significantly depending on the parts you source, your labor costs (if you're doing it yourself), and any unforeseen complications. Expect a substantial investment in parts, tools, and potentially professional labor.
Recommendation:
Unless you have significant experience working on cars, particularly transmissions, it's highly recommended to seek the help of a professional mechanic specializing in classic car restoration. This conversion is far beyond a typical DIY project and improper installation can lead to serious damage to your Mustang.
In short, it's *possible*, but it's a complex and potentially expensive project best left to experienced professionals unless you're comfortable with a major automotive overhaul.