No Reserve: 1967 Mercury Cougar

I acknowledge that we haven’t reached the mid-point of 2026, but this 1967 Mercury Cougar could potentially be one of this year’s best buys. “Why is that?” I hear you ask. Well, the seller has listed this classic with No Reserve, and there hasn’t been any auction action at the time of writing. Throw in its rust-free status and the healthy V8 under the hood, and this classic pony car looks like it could be a winner. The seller has listed the Cougar here on eBay in Crumpler, North Carolina. Although the No Reserve auction opened at $7,500, there have been no bids so far.

Mercury released its First Generation Cougar for the 1967 model year. Ford was initially reluctant to give the green light for production, but saw greater benefit in Mercury using the existing Mustang architecture than in going it alone with a unique pony car. The decision proved wise, because the Cougar badge remained a staple of the company’s model range for over three decades. This first-year Cougar looks a little rough, with its cause not helped by the existing coat of Black primer. There is no evidence of the original paint shade, making the Mercury a bit of a mystery machine. The Trim Tag will provide the answers required if the buyer elects to undertake a faithful restoration, and that process should be relatively straightforward. The panels have only accumulated a few minor imperfections, with none severe enough to justify steel replacement. However, the car’s best news hides beneath the surface. The seller provides some pretty clear underside shots, revealing that this gem hasn’t been affected by rust, which can often sour the ownership experience. Therefore, the grinder and welder can remain in the cupboard during the build. The trim looks pretty respectable, and the glass is clear. The seller confirms that while the sequential turn signals work as they should, the same cannot be said for the headlight doors. These items can be troublesome, and many owners have converted the system to electric operation. Kits retail for around $650, and although it isn’t a cheap investment, it will permanently eliminate one potential weakness.

Unlike its Mustang cousin, the 1967 Cougar was V8-only territory. Decoding the VIN confirms that this Mercury’s first owner teamed the C-Code 289ci with a three-speed manual transmission. They didn’t select power assistance for the steering or brakes, making this the cheapest variant available during that model year. As with the Mustang, the C-Code developed 200hp and 282 ft/lbs of torque. Of course, because the more luxurious leanings of the Cougar made it slightly heavier than the Mustang, it lagged marginally in outright performance. Still, the differences weren’t significant enough to cause many sleepless nights. That said, the shiny new Edelbrock carburetor atop this motor may have liberated a few additional ponies. The seller recently installed new front shocks, air shocks in the back, a new fuel pump, and a new battery. They say that this beauty runs and drives perfectly, ready to provide the winning bidder with immediate classic motoring pleasure.

I admire this Cougar’s consistency, because its interior needs as much love as its exterior. Trimmed in Red, the dashpad is badly warped and cracked. The headliner is ripped in a couple of spots, the radio is missing, and the seats exhibit a few seam separations and other shortcomings. It is serviceable, but could definitely present far better. I have discussed retrims in previous articles, and I remain in favor of that approach. A high-quality kit will produce a factory-fresh look, while proper, respectful treatment should keep the interior in good condition for decades. Having performed many project builds over the years, I can confirm that there are few experiences more satisfying than stepping back to admire an interior you have brought back from the edge with your own hands.

I am a realist. Therefore, while I have stated that there have been no bids on this 1967 Mercury Cougar, the growing Watch List tally suggests that some may be biding their time and will pounce during the auction’s closing stages. If that doesn’t happen, someone could become its new owner with a single mouse click. I can understand the Cougar’s appeal as a project candidate because the winning bidder won’t have to spend countless hours cutting, welding, or grinding to achieve a rust-free state. That makes it ideal for a rookie to tackle as a first project. Is that thought enough to tempt you?