Hmm, a pattern seems to be developing here. This 1977 Ford Mustang II Cobra II is the third classic I have featured today that could be a project or a parts car. It has sat exposed to the elements in a partially dismantled state, and its original V8 is long gone. However, if its future is as a donor, plenty of bits could find new life on another project. The seller has listed the Cobra II here on eBay in Reading, Pennsylvania. If you’ve been wavering, here are a couple more facts to consider. This auction is a No Reserve affair, and while it opened at $99, there have been no bids. Therefore, someone might be taking this classic home for peanuts.
Ford introduced the Cobra II appearance package to the Mustang II range in 1976. It proved so popular that it returned in 1977, though the improvements were purely cosmetic and offered no performance gains. Our featured Cobra II emerged early in that model year, finished in iconic Code 1C Black with Gold stripes and decals. Somebody partially dismantled the vehicle before leaving it exposed to the elements. The developing mold and rust suggest the location is damp, and I suspect climbing beneath the Ford will reveal rust in the floors and rails. Considering the potential future value of this classic if treated to a high-end restoration, only a DIY approach would be financially viable. Otherwise, somebody could be throwing away good money to return this car to its factory form. That said, the photos suggest that the panels and trim are intact, with many items suitable for reuse in other project builds.
This Cobra II’s interior continues the “complete but rough” theme, looking tired after years of unfiltered UV exposure. The dashpad and wheel are toast, as is the carpet. However, the door trims and some vinyl components may respond well to a deep clean. The dash fascia and gauges look okay, and plenty of handles, knobs, and other items could be salvaged. This interior could be a gold mine for the right person.
Decoding the VIN confirms that this Cobra II left the line powered by a 302ci V8. The seller says that the V8 sent its power to the road via a four-speed manual transmission, making it the most potent version of the Mustang II available in 1977. Of course, “potent” is relative, because the 302 produced only 134hp and 247 ft/lbs of torque. However, what the Mustang II lacked in outright performance, it more than compensated for with nimble handling and beautiful rack-and-pinion steering. In fact, the Mustang II front end has become a popular choice for modern hot rod builds, because it is easy to find, works perfectly, and is surprisingly robust. This Cobra II is missing its motor and transmission, and can be considered a roller. Once again, it is a great resource for those seeking small brackets, clips, and other items.
I am surprised that this 1977 Ford Mustang II Cobra II hasn’t attracted any bids, especially considering the listing statistics suggest it has generated at least moderate interest. I don’t see it as a hot restoration prospect because, given its potential value, it is probably beyond that point. However, if nothing happens before the auction ends, someone could score this car with a single $99 bid. The glass alone is worth more than that, and there are plenty of other parts that someone could resell if they didn’t want to fill their workshop with Mustang II components. Does that make sense to you?
The opening bid is probably all its money by the time a buyer calculates their time and costs involved in picking it up. No one is going to restore this car, 20 years on Pennsylvania roads plus 30 years parked in the back yard will not have been kind.
Steve R
Sorry Adam but, after the buyer hires a flatbed tow truck to haul what’s left of it out of there to wherever, I don’t think they’re going to profit on this one. JMO
Parts
Fluuuuussssh!
Well, if you buy this for $99, Then you put about 20k dollars into it (and lots of labor). You’ll have yourself a fairly decent Mustang II Cobra II that is worth about 15k.
These weren’t that great of a car when they were new. My room mate had one of these and I thrashed that beast ( the car ) on the dirt back roads of Oklahoma. On a couple of tight turns, it almost rolled over. Ive had three (3) ‘stangs of my own and none of them handled as poorly as that did . Definitely not worth the effort.
Had a pal with a four-cylinder manwell variant, it was utterly gutless, but it always started & ran. I believe it was penance from his father, for absolutely trashing the previous two muscle cars he’d been given LOL.
Bingo!
if you had 1 it would be good to have sitting around. to buy and try to see what parts are left is a losing proposition.
It is a real shame to see a car in this condition. These mustangs have been growing on me for quite some time. Back in the late 70’s I had a friend who had one. It was a very nice car and very good looking. I hope some one will buy it as a parts car to help with another project.
It’s hard to believe this is what Ford called a ‘mustang’ in ’77 compared to other mustangs made less than a decade before it. It’s a tin can, glorified Pinto. While I don’t hate them, they’re just not that special enough to dump all that money into. I’m surprised they didn’t make a four door (but they did in Australia) or a wagon.
We had to wait for the Mach-E for that.
You weren’t around in the 70’s, were you? Ever hear of the energy “crisis” of the mid to late 70’s?
No Dan, you are wrong. These may be a lot of things, but calling them “glorified Pintos” is like calling a Vette a glorified Corvair.
Ford is planning on making a 4 door Mustang, as they envision a dedicated Mustang line. It would be smart to make a 4 door hybrid to compete with Accord and Camary hybrids. Oh I know, the Mustang faithful will have coniptions (sp?) But the Mustang e has been doing well and the sun still comes up every morning. Also, wouldn’t a 4 door Mustang with a Coyote and a manual 6 speed be cool?
Lots of those Mock-E’s on used car lots now. You have to wonder why?
I’ve seen some garbage before, but this POS clearly takes the cake!
Don’t forget the pie & the can of whipped cream. It’s a trifecta!
Took a 76 Cobra II off my used car lot – rammed a 3/4 competition cam & Lifter kit in Dropped a 289 4barrel manifold on – turned up the timing and promptly snapped both rear main springs 1st pull – I’d woken up the 302.
Got 2 main springs+ extra leaf sheaf both sides & put 200 lbs of sand bags in rear hatch over the axles to hold it down.
Wheelies in 3 gears hard scratch in 4th.
Cut a hole in the hood added a chrome drag race scoop & Put headers on NO mufflers & ran 112 octane race gas blowing 6foot flames.
Yep got arrested several times drag racing..the topper a pheasant feather 🪶 on the antenna & instead of a Race number on the Drivers door a GIANT 2 foot wide metallic Gold Pot Leaf
ACDC on Cassette a double bubble bong btw front seats & rocked a MULLET it was 1980 I was 18 and a complete idiot.