1-of-1: 1968 Mercury Cougar XR-7

Rarity is a question that invariably sparks debate in the classic world. There is no doubt that some cars command a premium due to an unusual combination of factory options, while the values of others may be unaffected. That brings us to this 1968 Mercury Cougar XR-7. The seller includes documentation confirming that it is a 1-of-1 classic, and it has certainly generated plenty of interest since hitting the market. I must say a big thank you to Barn Finder Curvette for spotting the Cougar listed here on eBay in Culver City, California. The seller set their BIN at $19,995 with the option to make an offer. However, it will be fascinating to gauge your view on this Mercury and whether you believe the options package makes it a cut above average.

Introduced in 1967 as its entry into the growing Pony Car market segment, the Cougar badge remained the backbone of Mercury’s model range until 2002. This second-year example is an essentially solid classic requiring restoration. Its Cardinal Red paint looks tired and baked, which is unsurprising given the car’s location. However, what it lacks is genuine rust problems. There are small areas in the lower rear quarter panels, door corners, the hood, and the trunk lid. There is also emerging rust below the back window, but the seller states that the underside is rock-solid. They include a replacement trunk lid and recommend swapping the hood. Otherwise, any other issues are candidates for well-crafted patches. Some trim pieces are beyond salvation, while others are restorable. The tinted glass looks okay, but the wheels are a later addition.

Powering this Cougar is a period-correct 302ci V8, hooked to a four-speed manual transmission. The first owner selected power disc brakes and heavy-duty suspension, but passed on steering assistance. We’ve reached the point where potential buyers must make decisions about this classic. The car runs and drives perfectly in its current form, and is a turnkey proposition. However, the 302 chosen by the first owner was the desirable J-Code variant, which produced a factory-quoted 230hp and 310 ft/lb of torque. Both figures exceed the entry-level 302, resulting in a noticeable performance gain. The seller has retained the numbers-matching engine block, intake, air cleaner, and some ancillaries. They will include these parts if the buyer hits the BIN button. Otherwise, they will negotiate for a separate sale if the buyer wants them. Returning this Cougar to its factory form would maximize its investment potential, but it is unclear whether negotiating or accepting the BIN figure would be the best approach. It appears that reaching out to the seller would be a logical first step.

The included Marti Report confirms that the first owner equipped this Cougar’s interior with Black leather trim, air conditioning, a tilt-away wheel, and an AM radio. It is this combination, along with the heavy-duty suspension, that makes this XR-7 unique. Sadly, the A/C is incomplete, and a functional issue prompted a previous owner to swap the tilt-away for a standard column. The seller can include a replacement tilt-away system, but this will cost the buyer an additional $1,000. Obvious work required includes replacing the seatcovers, sourcing a correct radio for authenticity, locating appropriate A/C components, and some minor trim repairs or replacement. However, the foundations are there to return the inside of this Cougar to its former glory.

The automotive industry is a fascinating world. There was a time when buyers faced few choices when ordering a new car, but the rise of factory options dramatically changed the landscape. However, there are exceptions to that rule. I recently purchased a new vehicle off the showroom floor as my daily driver. My only choices were between two transmission types and six paint shades. Therefore, no matter how many cars rolled off the line, there could only be twelve variants. The current Fiat 500 is at the other end of the scale, with its selection of factory options allowing scope for an eye-watering 500,000 variations. Undoubtedly, some combinations will increase the future value, while others will have no impact. The same is true of this 1968 Mercury Cougar XR-7. Do you think its unique status makes it worth more, or are the factory options irrelevant?