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460 V8 Project: 1978 Lincoln Continental Mark V

In the late 1970s, most car buyers were migrating to smaller, more fuel-efficient automobiles. Except for those who were affluent and didn’t care about the cost of gasoline. The Lincoln Continental Mark V continued to knock down some impressive sales numbers and a variety of special editions were available. This 1978 model looks to have been held captive in this barn for several years and is going to need both mechanical and cosmetic attention. Stored indoors in Sandpoint, Idaho, this ample automobile is available here on Facebook Marketplace for $2,500 OBO.

Ford Motor Co. went all out in the 1978 model year to celebrate its 75th anniversary. In particular, the Mark V and the similar Thunderbirds were decked out with something called the Diamond Jubilee Edition, although we understand other series had special trim options, too. When Henry Ford started the company, he thought he was just providing basic transportation to those who needed it – but things had gone well beyond that after 50 years. Excluding that, the 1978 Mark V was a carryover from the prior year, although some attempts were made to make the big, thirsty cars more thrifty at the gas pump.

More than 72% of all Mark Vs built in ‘78 had the 460 cubic-inch V8 engine, which is the same as in the seller’s car. It doesn’t currently run, and we don’t know its issues other than the seller says it is rebuildable. Perhaps it’s just worn out as the reported mileage is 150,000. The body looks good though the paint is faded out in several places. The rear bumper has some rust on it and there could be more elsewhere. The interior looks okay from what we can see, but is well used and finished in materials indicative of the 1970s.

The 1978 model year would be the last of the big Mark Vs as the car would change dramatically the following year (downsizing even caught up with Lincoln). This “last of the line” kind of car was probably quite impressive in its original condition. But is restoring a trendy automobile like this part of a good investment decision? Is there a big demand now for these types of cars? Hagerty says the nicest one may not top $40,000. Plus, these cars only get about 12 miles per gallon around town on a good day.


  1. al

    had a 1978 great car the 1979 was same except for trim changes did not down size untill 1980. write up say down sized in 1979 its wrong

    Like 4
  2. George Mattar

    Gas is almost $4 where I live. 460 is nothing but a boat anchor and eats gas. I m buying a new Rivian truck. The days of gas sucking pigs will end sooner than people think.

    Like 1
    • TimS

      Why are you even on a site like this?

      Like 22
      • bone

        He likes to complain about every car unless its a GM , especially Mopars, followed by Ford.

        Like 4
    • Brad460 Member

      I’m intrigued by the idea of electric propulsion but all you’re really doing is going from internal combustion to external combustion.

      Where I live it’s not uncommon to see temps as low as -25F which means im not convinced these electric vehicles can properly heat the cabin and have any range left. The human body doesnt survive long in those kind of temps without heat. To me it comes down to a safety and practicality issue. I just dont believe electrics are ready for prime time in some areas of the country.

      Like 12
  3. TouringFordor

    1978 was the 75th anniversary of FOMOCO.

    Like 2
  4. Bob McK

    Just think how beautiful this car was.

    Like 3
  5. Stan

    Awesome cars. Eats up the miles in comfort

    Like 2
  6. Brian

    I owned a ‘79 mark V Cartier. It was the most comfortable and easy going car I ever owned. It went down the highWay like it was on a rail. I’ve owned a 1966 GTO which was the most responsive in it’s class and size, a 1976 W30 442 which equaled the goats responsiveness but outclassed it in comfort and now I’m sold on Lexus. Mixed with these I had a 1973 Datsun 240Z, a 1964 Corvair drop top, an 1966 Mercedes Benz 450SE a 1967MGB , a 1973 Porsche 914 2Lt, and a variety of VW’s. If I would compare the ride and responsiveness of that mark V to all the rest ( aside from the Lexus ), it is hands down the winner.

    Like 0
    • Mike W_H_ Mike W_H_ Member

      Had a 77, Dove grey with grey interior. Back then everyone freaked out when gas crossed the $1 barrier. I rarely kept more than $5 in the tank. I was convinced gas would go back down. Thinking back, it was a great ride. Not the chick magnet I was hoping for, either. Back seat was HUGE. Plenty of room for extra curriculars. Never did get used to that nose, it went on to infinity. Wherever you pointed it was more of a guess. Not to mention it was too long for a conventional garage. Good times.

      Like 1
  7. Brad460 Member

    79 was same bodystyle but the 460 wasnt available in 79. 400 was the only engine. 460s can be excellent engines when not hampered by all the emission controls this one has.

    Like 0
  8. John Oliveri

    79 was the same car, 80 got you a Mark VI, which was a downsize, but still elegant car

    Like 0
  9. Greg m Fisher

    Think this car should just stay where it is. “well used” 150,000 miles and does not run. Would be nice to see this car brought back to life. But would it be worth it.

    Like 0
  10. bone

    He likes to complain about every car unless its a GM , especially Mopars, followed by Ford.

    Like 0
  11. Jon.in.Chico

    Had a ’78 Givenchy with the 460 – traded in a ’77 Vette with less than 10k miles… great road car – get 100 in second gear … once got 14mpg coasting downhill into LA … didn’t buy these cars for gas mileage but for comfort and cruising …

    Like 0
  12. Stevieg

    Yeah, I had a 1978 like this but white with the tan cloth interior. Drove like a dream! I would buy another (that ran & drove). I wouldn’t buy this. Getting it back on the road will far exceed what it is worth. This is a case of ya gotta buy the best you can find.

    Like 0

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