There comes a time with some classics where an owner has to step back and assess whether it is a viable project candidate. That is the question facing the winning bidder when they tow away this 1977 Ford Mustang II Cobra II. And tow it home they will, because the seller is offering this stalled father/son project with No Reserve. They have listed the Cobra II here on eBay in El Dorado, Arkansas. Three bids have pushed the price to $105.50, making it potentially one of the cheapest classics we have seen at Barn Finds.
Ford launched the Mustang II for the 1974 model year and, once again, Lee Iacocca seemed to have his finger on the buying public’s pulse. With a sales tally of 385,993 in that year alone, the badge hadn’t tasted such success since 1967. The figures would fall during the following years, but with so many people running scared due to the energy crisis and rising fuel prices, it is easy to see why the Mustang II enjoyed wide acceptance. This 1977 example is a Cobra II variant that the seller bought as a father/son project. Sadly, the son lost interest in the build early, and it spent years sitting forgotten in a shed. However, the seller indicates that it is essentially complete. The Polar White paint is slowly disappearing as surface corrosion consumes every surface. It is unclear whether that is the extent of its issues, or if peering beneath this classic will reveal penetrating rust in the floors and other prone areas. It also appears there is some serious Bondo in the leading edge of the driver’s side quarter panel, suggesting what might be some substandard repairs at some point. However, many of the panels might be suitable for use on another build, the glass looks okay, and the car retains its side window louvers. This is a bonus because they are becoming difficult to locate.
One look at the solitary interior shot caused me to draw a deep breath and feel glad that such images don’t come with the appropriate smells. It appears that mice or squirrels have made this Mustang II their home, leaving plenty of evidence of their presence in the footwells. Regardless of which critters they were, they will almost certainly have left a scent that is a long way from Chanel No 5. Eliminating it may be virtually impossible, meaning that any soft trim pieces are probably destined for the bin. However, there are plenty of plated components that are in good condition, and the same appears true of the gauge cluster and factory tachometer. This interior is another goldmine of parts if the car is beyond saving.
Sadly, this is as close as we get to seeing this Mustang’s engine, but the listing confirms that lifting the hood would reveal Ford’s venerable 302ci V8. A three-speed C4 automatic transmission tackles shifting duties to provide a relatively relaxed driving experience. The Malaise Era had taken a heavy toll on the 302, with the engine delivering 134hp when this car rolled off the line. Ford wasn’t alone in its struggle with emission regulations, but the situation would improve during the 1980s and 1990s as it began to adopt fuel injection and electronic engine management technology. The health of this car’s mechanical components is unclear, but as with other aspects of the vehicle, there should be plenty of components to bolt into another Mustang II if this one is destined to be a donor.
The Mustang II is a much-maligned creature, but the reality is that it was, like its predecessor, the right car at the right time. Sales figures were better than many people would care to admit, with 153,173 buyers taking one home in 1977. That represented the low-water mark for Ford’s Second Generation pony car, with sales climbing the following year before the Fox-Body replacement hit showroom floors for the 1979 model year. This Cobra II requires a mountain of work to return to its former glory, and if viewed purely from a financial perspective, it is questionable. However, if it sells for somewhere around the current high-bid figure, it could be an excellent source of those small parts that are often hard to locate during a build. It is worth noting that the listing has received over 400 views in the past day, suggesting that it has garnered plenty of attention. If you have a Mustang II sitting in your workshop, monitoring this auction could be worthwhile.
Clarkey took over for Dixon writing up on this unit.
1-800-the-hook 📞 🚚 🪝
A friend who has restored a couple Mustang II’s has commented that, despite their high production totals, most have been crushed. Thus it’s not easy to find parts for them. He specifically mentioned interior trim and other Mustang II-specific pieces. That seems to be the only future for this forlorn example.
So true, Bob!
I have a pristine 1975 survivor example sitting in my heated garage for reasons no one understands. My sons want nothing to do with it, so I envision it looking like this one soon after I’m gone.
This is a parts car. Last time the seller ran it through eBay the high bid was $241, but the transaction was not completed.
Steve R
Yep. A parts pile. If I were local, I’d buy it, but make sure part of the deal was, that rat trap stays in the sellers yard, after I pull what parts are salvageable.
Petina? Only if I get the laundry basket.
If the term parts car were in the dictionary, this would be the picture for it.
I think right now they can drag it to the crusher and get more than current bid
That interior is nuts.
…would make a good start point for a 24 Hours of Lemons car….
No, it won’t. You aren’t allowed to spend more than $500 including purchase price other than specified safety related upgrades. That’s impossible to start with a wreck like this and make it operational for that amount.
Steve R
Love that race. A riot.
I remember seeing a decent Olds Aurora in the field 🍋 🏁
The seller makes no bones about this car being for parts only.
They only threw it on EBay because they are hoping someone will buy it and prevent them from having to haul it to the crusher.
Probably won’t happen, but good attempt.
I would love to have the car as a builder
If you are close, stop by with a flatbed and the guy will probably give it to you.
Hillarious PRA.. 😃 👍
i would agree with the other comments this a parts car. the interior looks toxic in the pics. no paperwork. it is a shame people let this happen to a car then decide to sell it.
Probable parts car, but if you can get it for the right price, a.k.a. less than $500, it’s worth a look. Wash it first, then strip it down before sending the body out for chemical stripping or media blasting, to see what’s left. The worst case is that you can sell the drive line and interior trim and make a few bucks in the process, but if the body comes back clean, you have options. The engine and tranny alone should get you your money back, if you didn’t go crazy buying it in the first place. The pictures don’t show where the front bumper and grille went, but those would increase the value of this “car” considerably! If the body passes inspection, this might be a good restomod candidate, by putting a full aftermarket frame under that unibody. Hell, it already has a Mustang II front end, LOL!
My bad, while the Barn Find photos don’t show the grille and bumper, it’s sitting on the hood in the E-Bay pics. BTW, is that a Chevy Monza “notchback” coupe behind the Mustang II in one picture? The Mustang II Ghia’s competition from GM!
I goofed again! The red car behind the subject car is yet another Mustang II. That one actually looks good, but you can’t tell from the picture if it’s a notchback or a fastback. Dad must like Fords, there’s a picture of a Ford pickup truck in one frame.
Overpriced
I kinda dig these glorified Pintos. As a parts car it has the parts needed to easily do the V8 swap in a Pinto or the Mustang IIs with lesser engines. Another possibility would be the Freiburger route, “don’t get it right just get it running” which in my opinion makes for a lot more fun.
Steve R. Have you ever been to a 24 hours of Lemons race? The formula is indeed a $500 beater as you say, in reality just about everybody spends more. some spend a little more, most folks spend much, much more. The lemons organizers judge the cars and handicap accordingly.
I have a couple friends that have/had Lemons cars. I know everyone cheats, I also know you don’t buy something just because it’s cheap or this far gone or obscure. You start by figuring out what cars make a good foundation and can be found for a price that fits your budget. I come from a drag racing background and cringe every time I see someone offhandedly say a rusted out hulk “would make a drag car” or any other race car for that matter. I’ve seen too many people jump in head first, buying a project without doing any research or even going to a race to talk to competitors or see what’s actually involved in bringing a car to an event and racing it. That never ends well.
Steve R
When the Wayne Carini’s of the world, chortle to themselves, and enter a car in the LeMons race. You know that $500 limit has been stretched a bit.
when i restored mine, I had to pay 300 bucks for just a USED ONLY ONE OF A KIND oil pan because nobody makes them in after-market for them cars …… LMAO
When the Wayne Carini’s of the world, chortle to themselves, and enter a car in the LeMons race. You know that $500 limit has been stretched a bit.
This poor car has one of the saddest endings…a hard life, then put away after being used up… a hope filled reincarnation, fueled by father’s love, only to be abandoned in the end.
Still not going to buy it, though…
The front end alone is worth 207,