What's it Worth? 76 Cobra 2

dulcimerbob · 2026-09-08T18:03:32-0500

This car has a stuck v6 w/4 speed , front end damage , driver fender damage , original paint with surface rust , good interior , I have seen only pics . Underneath could be a nightmare . Seller says mileage unknown , I am thinking about driving an hour and take a look . I want to make it work and drive it as a rat/beater to cruise-ins . The kicker is the asking price is 3500. Help a brother out here. I've had five Mustangs but not one of these . Thanks in advance

LILCBRA · 2026-09-08T19:37:36-0500

Personal opinion - I think he's awful proud of it. That being said, I guess it would depend on the damage it [actually] has and the condition of the underside. The interior doesn't look horrible all things considered, and it very well could be a solid foundation. Without laying eyes on it, I'd say somewhere in the $1500-2000 range wouldn't be outrageous. I'd look real close at the radiator support and the upper frame rails where the fenders mount for sure. As for the underside, I'd also pay pretty close attention there and judge it according to your comfort level with panel replacement and fabrication skills. While the aftermarket is growing for them, there's still a lot that isn't available new.

For reference, look at the last few pages of my build thread. I just purchased a basket case from northern Wisconsin for parts and paid in the price range I've given. For me, it was well worth it - but it's definitely [not] a project car.

LILCBRA · 2026-09-08T19:44:09-0500

LILCBRA said:
Got back home late last night and spent a couple hours in the garage continuing the tear down of the T top car. Got the radiator and front end removed. Found confirmation of a front end collision in the top rails - both are somewhat buckled.

Pulled the buck tag off as well:

Pulled the cribs from under the table then lifted the Cobra onto them. Got the new dipstick and coolant sensor installed. Now the fan kicks on as it should and the handheld keeps up with my gauge, so all is good there now. I'll most likely take it off the cribs tomorrow and take it out for a drive to let the system self learn a little more. I think I'm going to put the braces on hold until I get the rockers and floor pans replaced. I crawled around under it again after I got it lifted, there's a small problem area on the passenger side floor at the front seat rear mount along the rocker seam. Between that and the rust showing it's ugly side on the rockers, it's time to get them taken care of before I get crazy with some of this other stuff. So the plan is to get the T top car stripped down so I can dispose of the shell, then turn my attention to tearing the Cobra down for it's surgeries and additions.

Sharing here for reference - this was hard to see with the fenders mounted. Honestly, I didn't even see it when I looked at the car, but like I said, I wasn't buying it as a project so I wasn't looking.

dulcimerbob · 2026-09-08T20:06:39-0500

LILCBRA said:
Personal opinion - I think he's awful proud of it. That being said, I guess it would depend on the damage it [actually] has and the condition of the underside. The interior doesn't look horrible all things considered, and it very well could be a solid foundation. Without laying eyes on it, I'd say somewhere in the $1500-2000 range wouldn't be outrageous. I'd look real close at the radiator support and the upper frame rails where the fenders mount for sure. As for the underside, I'd also pay pretty close attention there and judge it according to your comfort level with panel replacement and fabrication skills. While the aftermarket is growing for them, there's still a lot that isn't available new.

For reference, look at the last few pages of my build thread. I just purchased a basket case from northern Wisconsin for parts and paid in the price range I've given. For me, it was well worth it - but it's definitely [not] a project car.

Thanks for the reply . That's the price range I was thinking . I am pretty comfortable doing most things mechanical and not fearful of body stuff. . I'll check out your build .

dulcimerbob · 2026-09-08T20:34:50-0500

I seem to have an affinity for borderline case vehicles . I am in the middle of working on a 67 Honda Superhawk 305 AND a 74 cb450 . My wife said yesterday " you want what !!! ??? " when I mentioned the car . I also have my eye on another Stang 2 @ 2400 with a stuck V6 /auto 2+2 that's in a little better shape than the Cobra . I'm glad my insanity is shared . I'm 75 and still diggin on junk.

LILCBRA · 2026-09-08T21:43:34-0500

I don't think it ever goes away. My uncle is about your age and brings home a new project about every other year. In between times he's out tinkering and restoring them. Gives him something to do with his free time, which I don't think is much different than most.

What's it Worth? 76 Cobra 2

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