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Black and Gold: 1977 Ford Mustang Cobra II

The second generation of the Mustang was called the Mustang II and was a vast departure from prior years. The Mustang II was introduced as a fuel-efficient subcompact in late 1973, just prior to the oil crisis. This was perfect timing, and the Mustang II was named car of the year by Motor Trend in 1974. This 1977 Ford Mustang II is being auctioned here on eBay and has reached a bid price of $5,577 but has a Buy It Now Price of $23,500. The car is located in Eagle Mountain, Utah, but spent most of its life in Ohio. The odometer shows more than 100k miles.

This is the best picture of the interior, but it is not very good. The interior was recently removed, and the carpet and insulation were replaced. Every piece of interior plastic was redyed black. The owner has done much work to the car during their 3 years of ownership. The prior owner had the car for 12 years. The floorboards were cleaned and painted, and a heat shield was installed before the interior was reinstalled. The seller states that the undercarriage has some rust on it, and the speedometer cable has intermittent problems.

The Mustang II was available with an inline 4-cylinder and V6 engine in 1974. In 1975, an anemic 302 CID engine was added, but it was only available with an automatic transmission. The 5-liter V8 was fed via a 2-barrel carburetor. The 302 cubic inch V8 engine was the top-of-the-line motor for the Mustang II and was rated at 139 horsepower. The seller replaced the fuel tank and added aluminum heads and intake. The brakes were restored, and the cooling system was improved with a new aluminum radiator.

The car has been resprayed, and there are pictures showing rust bubbles on two fenders that the seller states are fixable. The Mustang II rides on 15-inch wheels and new Toyo tires. The seller states that the fuel return line leaks when the fuel tank is full. That could be problematic and start a fire, so that is probably the first thing to address for the new buyer. The Mustang II was a huge sales hit, selling over 1.1 million cars from 1974 to 1978.

Comments

  1. MoparDoug

    When I turned 16 in the late ’70s and was ready to buy my first car, I test drove one of these. I was about 5′-10″ at the time and I felt like I was sitting on the floor and the dash seemed like it was directly in my line of sight out the windshield. The car was gutless, but I don’t remember if it had a 4 or 6 cylinder engine. I didn’t buy the car. It wasn’t until seeing the rear quarter picture of this car on here did I realize how much it looks like a Ford Maverick.

    Like 4
  2. Connecticut mark

    Look like Capri Rims?

    Like 7
  3. Roger Upton

    I have always liked these, especially the 302 powered ones. As lightweight as they are, you could make quite the hot rod out of one. For me personally, this one sits too high. Has a 302 with aluminum heads and not one picture of the engine. Very nice car, though I would like to have it.

    Like 5
    • CATHOUSE

      There are multiple photos of the engine. All you need to do is to scroll down on the listing to view them.

      Like 1
  4. Lawrence

    Back in the early 80s l bought a mustang ll at a wholesale auction , 302 4spd t tops green exterior , white interior l wasn’t really a Ford guy but l still remember how impressed l was with how nice that car drove

    Like 7
  5. Steve R

    Too much money for its condition. It looks pretty, but the rust present in the pictures is too much of a gamble.

    In the early-80’s when you saw one of these you’d always check it out, there was usually a pretty girl driving it. These never caught in with guys. In the SF Bay Area and California in general, rust wasn’t an issue and you could find a decent original paint 4spd muscle car that might have needed a clutch, new tires or some other minor work for $1,000 plus or minus with little effort. Eventually when the state started emissions testing on all cars, the late-70’s “performance” cars were the first to drop by the waysides. That destroyed what would have eventually turned into substantial pipeline of that era Trans Ams, Z28’s and other cars feeding enthusiasts from the Midwest and east coast who bought those cars when new.

    Steve R

    Like 1
  6. Bob_in_TN Bob_in_TN Member

    It’s hard to find Mustang II’s in good condition. This one isn’t terrible, but does have issues. I agree, the ride height is odd.

    With it being the 50th model year anniversary of the Mustang II, there are upcoming special events and/or emphasis within existing events to celebrate them. The Mustang II enthusiasts should have fun seeing other cars and mingling with their owners.

    Like 13
    • Philip Lepel

      Always loved these vars and always will. Those that dont arent looking at the period it came from with oil embargos and rising gas prices. It sold well cause it looked sporty and got good mileage just like European sports cars. Plus the “animic” four cylinder developed a unique aftermarket for open race engines for open wheel racers, race boats, and 2.3 class cars. Dual weber carburetors , double overhead cam heads off of Volvos mafe these little engines capable. And lets not forget that plenty of after market stuff could add power to the 302. People just didnt know how to make them faster.

      Like 1
  7. explodingpinto

    Hope he doesn’t need that $23,500 for a life-saving operation because he’s got a better shot at seeing a coconut palm in Utah than he does getting that money for this car.

    Like 18
  8. HoA HoA Member

    Hey, put me in the “I liked the Mustang ll” group, and Charlies Angels had nothing to do with it( cough). I thought a much better rendition than that miserable Fox body I had. The 15 inch wheels and oversize tires make this look odd, I believe Mustang lls had 13s,( try and find 13s today) originally and bigger tires may affect handling some. I remember for a while, Mustang lls weren’t even considered by Mustang enthusiasts. Many classified ads for Mustang stopped at 1973. A glorified Pinto? Perhaps, but I feel, much more in line with what the original concept of a Mustang was, not these 750 hp rockets of today.

    Like 5
    • ExplodingChevySideTanks

      I hear you. As my father aged. He didn’t like driving fast, either. He felt much more comfortable riding in a 4 cylinder sedan, than a 2 door fastback with a V-8.

      Like 3
    • JoeNYWF64

      Taller & heavier tires & wheels will slow this II down as well!
      BTW, try to find an early ’65 stang v8 still fitted with its original FIVE lug 13 inch wheels!

      Like 2
  9. Roger Upton

    Thank you Cathouse

    Like 1
  10. Roger Upton

    Thank you Cathouse

    Roger Upton

    Like 1
  11. justpaul

    The oversized tires and resulting odd stance suggest the seller really wanted an AMC Eagle SX/4. Still, that last photo in the write-up does have a hint of Mad Max Interceptor.

    As to the price: We can only hope the reserve is well below the Buy-It-Now price, or this thing won’t be moving any time soon.

    Like 2
  12. Mike in Georgia

    Connecticut Mark is correct that the rims on this Mustang II “look like” those used on Capris of the era. However, these appear to be polished aluminum. Capris would use a trim ring to make them shine, plus Capri Mk1 & II’s never had 15-inch rims.

    Like 1
  13. BOLIVAR SHAGNASTY

    I bought a King Cobra new in 1987. I also bought a new Mustang II rallye. Same day purchase. Both were Black and gold.. both v8.. both 4spd.. both ttops. I planned to keep the KC original and hot rod the Rallye. Thats what i did. I built a 1969 302 with Kmotor head ported and polished.. Boss 302 pistons, rods and crank. Clay Smith roller cam.. Rhodes lifters. I installed a McLeod dual disc clutch assembly.. and from a wrecked 69 Mustang.. i installed the top loader and 9″. converted to disc brakes and narrowed to fit the II. The result was a 12.9 @ 109mph thru the mufflers. That was one of the best handling cars i’ve ever driven. Going from 13″ wheels to 14″ made a world of difference. I used to take it to Hallett Motor Speedway and run it on the road track. That was back in the early 80’s. I still have the KC with 35k miles. Never seen rain or snow.. garage kept. I now take my grandkids out on the weekeds when that wife doesnt want to go. it’s still a hoot to get thumbs up. The II is not for everyone.. just like my all orig 1987 El Camino (747k miles).. you either love em or hate em. Guess where i fall.

    Like 5
    • BOLIVAR SHAGNASTY

      I bought a King Cobra new in 1977. I also bought a new Mustang II rallye. Same day purchase. Both were Black and gold.. both v8.. both 4spd.. both ttops. I planned to keep the KC original and hot rod the Rallye. Thats what i did. I built a 1969 302 with Kmotor head ported and polished.. Boss 302 pistons, rods and crank. Clay Smith roller cam.. Rhodes lifters. I installed a McLeod dual disc clutch assembly.. and from a wrecked 69 Mustang.. i installed the top loader and 9″. converted to disc brakes and narrowed to fit the II. The result was a 12.9 @ 109mph thru the mufflers. That was one of the best handling cars i’ve ever driven. Going from 13″ wheels to 14″ made a world of difference. I used to take it to Hallett Motor Speedway and run it on the road track. That was back in the early 80’s. I still have the KC with 35k miles. Never seen rain or snow.. garage kept. I now take my grandkids out on the weekeds when that wife doesnt want to go. it’s still a hoot to get thumbs up. The II is not for everyone.. just like my all orig 1987 El Camino (747k miles).. you either love em or hate em. Guess where i fall.

      Like 3
      • BOLIVAR SHAGNASTY

        1978.. damit..

        Like 1
  14. Robert Atkinson, Jr.

    My High School Freshman Science teacher traded in a Fiat X1/9 for one of these. I’m not sure if that’s a case of jumping from the frying pan into or out of the fire, but I digress. True, the 302/5.0L was gutless, courtesy of Malaise Era emission controls, but some bolt-on parts (intake, new heads, headers and an exhaust system) can fix that in a hurry. The rust is more of a problem, given this car’s unibody construction. Here in the snow belt, not many survived, as the frame rails rotted out due to salt exposure in short order. The rust almost certainly runs deeper than what you can see, so a careful inspection is mandatory. Depending on how far the rot has progressed, I could see a buyer getting under water very quickly.

    Like 1
  15. JC

    I would not buy a car with a leaking fuel line… show’s negligence by the owner in my opinion, so what else could be wrong with it… these cars were junk then and they’re old junk now.

    Like 3
  16. Kent

    23K plus for this car? Good luck with that. All Mustang IT’S did come with 13 inch wheels. You will probably have to order them, but the tires are available.

    As for 1965 V8 Mustang wheels? All 1st Gen V8 Mustangs came with 5 lug 14 inch wheels. 6 cylinder cars held over the 13 inch 4 lug Falcon wheels. Interesting enough, the 13 inch wheels off the Chevy Corvair would interchange with the 13 inch Ford wheels of the time.

    Like 0
  17. David Kelm Member

    Yes, 15 in. stedda 13 in. will definitely hurt the performance. I had 2 Mustang II’s and they were both 4 cyl and totally gutless, and dangerously slow. I replaced with Lebaron V8.

    Like 0
  18. Roger

    All show, no go as we used to say regarding the vinyl stripes they were putting on former real muscle cars to make them look faster than they were.

    Like 1

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