As the original car had ballooned in its proportions, Ford reinvented its Mustang pony car. Dubbed the Mustang II when it debuted in 1974, the timing couldn’t have been better with gas prices starting to soar. Some 800 lbs. lighter than before, the Mustang II with a 4-cylinder engine was much more efficient than a ’73 model with a 351 V8. The Cobra was the “performance model” that it was more show than go. While Ford built more than 213,000 Mustangs in 1978, just 9,000 had the Cobra II package. And the seller’s Marti Report reveals this forgotten project could be one of one.
Most Cobra IIs came with a V6 in 1978, yet 500 or so buyers decided they wanted to look faster than they went and ordered the 2.3-liter 4-banger. Less than 400 of them had a 4-speed manual and when you dive down to the selection of a leather-wrapped steering wheel, Marti says only one Mustang was built like this and this one is it. If it were in better condition, that could be important, but this car has sat for so long and had parts disappear, will anyone want to restore it to 1978 specifications?
The Ford’s black paint has a major patina thing going on, but surprisingly the car doesn’t look to have rusted away. It may have been parked where it sits now for a long, long time. Long enough for the keys and title to have disappeared, but the seller says the VIN checks out as being clean. The interior is in complete disarray, harking back to the days when this probably was one sharp-looking car.
Should you want to buy the Mustang for parts or restoration, the ante tops out at $2,500 (Buy It Now). The opening bid of $1,500 has not been cast and there is an unmet reserve between the two figures. If these second-generation Mustangs are your thing, this one in Cobra trim (or what’s left of it) can be found in San Antonio, Texas, and here on eBay.
These “billboard” Cobra II’s do have a level of collectability. Nice examples now bring very good money. For this one, I’m not sure of its future. It isn’t completely trashed but obviously needs a ton of work. Parts availability (for things like trim pieces) isn’t good; a friend who has II’s did not hesitate buying one which had a recent engine fire, mostly to salvage parts.
Maybe it has a future as a restomod?
Thanks Russ.
Overpriced for the parts car it is. These don’t sell for a lot of money in less than perfect condition. As with almost any project, start with the best car you can afford. A low entry point does not mean it’s a good deal, which is a lesson most people learn first hand and some never learn at all. The other Cobra the seller is listing for roughly the same price is probably the better or the two.
Steve R
I probably fall in the minority, but I always felt these cars were a good replacement for the porky tank-stangs of 71-73. The smaller dimensions, lighter, weight, rack, and pinion steering – These were closer to the original 64-66 formula, if only they had some horsepower, which none of them did (Even the 302s). Still, they were kind of fun to drive in comparison to the iron on the road at the time.
That said, these decal “cobras” were just embarrassing blasphemy, still are……
A package name more appropriate, such as:
“SKUNK” or “KITTY CAT” and all would be forgiven…..
Looked at this picture and immediately heard Jeff Lynne from ELO singing “You’re looking good, just like a snake in the grass!”.
Maybe this is the one you paint all black leaving the decals off and adding a powertrain from the last of Fox- era – a roller 5.0, etc.
As a kid, I thought he was saying “You’re looking good cause I can sneak in your dress” LOL.
‘scuse me, while I kiss this guy…
How about, “There’s a bathroom on the right,” by CCR?
I thought these were cool when they were still daily drivers, the decal package made them stand out and look like a Hot Wheels car. Then again, I was just a small boy…
My, how this one has fallen. I think it is just a parts car now.
While I appreciate the post and the collectability of this car… they’re going to have to pay someone $1,500 to haul this POS off.
Is it a one of one because the line ran out of low-end steering wheels on a Friday afternoon? Otherwise it is a 4-cyl econobox with fancy decals. I remember these driving around, they were fancy Pintos as far as most of us were concerned.
Can we please let go of the “one of one” thing with these Marti reports? Mustangs had so many options available that many of them are unique. The report gets down to five cars, then proclaims this one to be unique because it has a leather-wrapped steering wheel. Odds are that the other four cars have a different option that also makes them “one of one.” It really is irrelevant if you have to go down to that level to get there.
This is one of the poorest things Ford ever made and one of the roughest examples offered for sale. One of one doesn’t add up to two here.
It should have been called the Mustang “Kind-of, Sort-of”
Agreed that the 1 of 1 thing is getting ridiculous when it involves steering wheel options. What might make this car actually worth salvaging for someone is the 1 of 5 factor – the T-Tops. I know some guys hate them, but many people like them, and finding a car originally equipped with them AND still having both tops intact is a plus. The original drivetrain is definitely a “who cares ?” on this one, but the fact it was a manual is good – a modern 5 or 6 speed will bolt in and won’t require as much work as converting an auto. Not for me, but I am betting someone will give a couple grand for the manual trans, T-Top body with tops intact, and a more modern engine and trans will follow.
maybe $25.00. no keys or title. its junk