Super-Rare 1970 Mercury Cougar Emerges With a Cobra Jet Surprise, Only Two Ever Made

The new obsession for more economical engines and insurance companies no longer willing to pay for the failed stunts attempted by drivers with too many horses under the hood caused a massive drop in sales for all muscle cars.

The Pontiac GTO went down and eventually waved goodbye a few years later. Mercury struggled to sell the Cougar, with the XR-7 also losing ground. The company sold only 72,363 units, and the XR-7 accounted for only 18,565 hardtops and 4,299 convertibles.

The Cougar wasn't an affordable car, either. The base model carried a $3,114 price tag, while the convertible could be had for $3,382. If you wanted the XR-7, the hardtop was available for $3,413, while the convertible was significantly more expensive at nearly $3,700.

The Cougar convertible in these photos is a fantastic find that is rare on multiple fronts. First, it's a 428 Cobra Jet Cougar. Second, it's a black-on-black-on-black model – a triple black car, which I'm certain would look fabulous with the right restoration. Third, it was built as a dealer demonstrator, so it flexes all options in the lineup. Fourth, it left the factory with Ram Air induction.

The Marti report also includes the numbers, so this Cougar is one of only 42 with this paint code. It's also one of only 17 with these paint and trim codes. The document shows that – get ready, this is where we're getting really rare – this Cougar is one of only four examples with the same engine and transmission and one of only two with Ram Air induction.

Its condition is obvious, so the Cougar now needs a complete restoration, including extensive bodywork. The original engine is still in the car, but it's missing the correct carburetor and air cleaner. The odometer indicates 65K miles, and the owner says they are all original.

The selling price makes sense for such a rare Cougar, especially considering the engine under the hood, with eBay seller marsh-marc willing to let it go for $32,500. That sounds like a lot of money for a Cougar project not flexing the XR-7 goodies, but the owner also enabled the Make Offer option on eBay. This means people who want the car but have another deal in mind can contact the seller to start the negotiations.

Meanwhile, the Cougar is parked in Woodbine, Maryland, with the listing set to expire in 29 days. A complete inspection is recommended, and you'll need a trailer to take it home, considering the engine no longer starts and runs.