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I am surprised no one has commented on this thread. The 1963-67 big body Ford were excellent cruisers. My cousin had a black '63 Fairlaine 4-door with silver interior in college. The little V8 was so balanced and quiet that more than once I blipped the starter a second time thinking it didn't start, only to hear a screech from the flywheel! It rode smoother than anything I'd driven, but look out for the brakes...they were very touchy. I don't have any experience with the 7 litre. It sounds like it would get gallons per mile instead of miles per gallon.
 
Suprisingly...

The 428 actually got better mileage than the 61-66 390, somehow they re did the 390 for 67 and from then on they got fairly good mileage for a big motor,but my experience with a 428 was good, my Uncle Henrys brother had a 68 LTD 2 door with 428 Police package , it was very good on gas for a big motor, he always said his 1962 390 got terrible mileage..like 10 on a trip, but the 428 got 17 or 18 if you kept your foot out of it, I think it was geared so high it idled at road speed, also had a friend who had a 7 litre convertible, he traded a 59 Galaxie with the top option 300 horse 352, he also said the 7 litre was better on gas...its a odd thing how some cars then did ok and some were awful, that 65 98 olds I had did really well, 18 on the road, but the 70 I had was doing good to get 8 or 9!!
 
Ford continued to build those old Fairlane bodies overseas in South America and Australia for many years after they were discontinued in the US. Ford of Australia was using the Fairlane name on a TOL stretched Falcon body until fairly recently. I remember seeing them when I briefly lived in Australia.
 
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