1971 Mercury Cougar

2dr Hardtop Coupe

8-cyl. 351cid/240hp 2bbl

#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good

$18,800*

-14.9%
#4 Fair condition#4 Fair

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1971-1973 Mercury Cougar stats
Highest sale
$165,000
Lowest sale
$320
Most recent sale
$30,240
Sales
217

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1971 Mercury Cougar
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Model overview

Model description

The redesigned 1971 Mercury Cougar was received much like the 1958 Ford Thunderbird. It was big, boxy and plush, and nobody thought of it as a sports car. The Eliminator was gone and the Muscle Car era was nearly over, but at least the 1970 powertrains continued for a while.

Sales dropped from 72,363 to 62,864, with 34,008 Cougar Hardtops and 25,416 XR-7 Hardtops. Convertibles remained correspondingly rare, with 1,723 base cars and 1,717 XR-7s. Cougar Hardtops started at $3,289, with the XR-7 at $3,629; the Convertible at $3,681 and XR-7 Convertible at $3,877.

The new Cougar would be part of the malaise decade and bore little resemblance to its past. Wheelbase grew to 112.5 inches, while headlights were no longer concealed and floated in side grills. The dominant feature was a 12-by-12 inch center grille, extended down into the bumper with a dropped center. Big taillights were recessed into a hefty full-width bumper, beneath a large boxy trunk. A tunneled rear window was flanked by flying buttresses, making the car seem even taller, like the companion Mustang coupe. At least the Buick side spear was gone, though half vinyl roofs were offered.

Both cynical observers (and Mercury marketers) might have noted that the Boomers were growing up, they wanted a bigger back seat, and more luxury. They got full instruments in the XR-7, and all models enjoyed flow-through ventilation, better air conditioning, safety door beams, recessed door handles, a leather interior and a new solid state AM/FM stereo.

The base transmission was still a 3-speed manual, with a 4-speed stick or 3-speed auto available. Base engine was the 240 bhp 351 cid V8 with a two-barrel carburetor, but a four-barrel bumped it to 280 bhp and included a high-lift cam and 4-bolt mains. At least a 370 bhp 429 big block V-8 was still optional, with or without Ram Air. The GT package included heavy duty suspension, racing mirrors, high axle ratio and a functional air scoop with the 429 V-8, but only 723 GT coupes were sold.

Mercury calculated the most popular options: 96.1%, had automatic transmissions, 98.5% power steering, 79.7% power disc brakes, 77.9% tinted glass and 75% air conditioning. At the other end of the scale, 1% had the 3-speed manual and 2.1% had A 4-speed.

Mercury offered 30 paint colors this year: Competition Orange (1), Bright Yellow (2), Bright Red (3), Ivy Bronze (49), Medium Brown (5), Bright Blue (6), Maroon (7), Ginger Brown (79), Light Gold (8), Pastel Gold (9), Onyx Black (A), Maroon Metallic (B), Dark Green (C), Competition Yellow (D), Medium Yellow Gold (E), Medium Blue (F), Light Green (H), Bright Lime Green (I), Competition Blue (J), Knight White (M), Pastel Blue (N), Medium Green (P), Medium Gold (Q), Gray Gold (S), Red (T), Competition Gold (U), Light Pewter (V), Yellow (W), Two Dark Blues (X and Y) and Competition Green (Z).

A total of 12 interior colors were offered: Black, White, Medium Blue, Medium Green, Medium Ginger, Dark Ginger, Dark Red, Dark Tobacco, Light Gray, Medium Gray, Charcoal Black and Medium Vermillion. Vinyl tops were available in Black, White, Sandalwood, Buckskin, Dark Blue or Dark Green. Convertible tops were Black, White or Ford Blue.

Vehicle specifications

  • Vehicle Length196.9 in
  • Wheelbase - Inches112.1 in
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Common Questions

The value of a 1971 Mercury Cougar can vary greatly depending on its condition, mileage, options, and history. Typically, you can expect to pay around $15,775 for a 1971 Mercury Cougar in good condition with average spec.

The highest selling price of a 1971 Mercury Cougar at auction over the last three years was $112,750. The highest prices are usually reserved for rare or exceptionally well-maintained examples with desirable features or modifications and excellent history.

The lowest selling price of a 1971 Mercury Cougar at auction over the last three years was $10,800. The lowest prices are usually paid for examples that have extensive maintenance needs, differ greatly from their original configuration, or have accident histories or title problems.

In the last three years there have been 7 1971 Mercury Cougars sold at public auction.

The most recent auction sale of a 1971 Mercury Cougar was $49,500 on September 22, 2023 by Mecum Auctions.

Many factors can increase a car's value including excellent condition, exceptional originality, a recent restoration, low mileage, unique provenance, desirable options, popular or unique color choices, and excellent maintenance records. Upgrades and modifications that enhance performance or aesthetics can also add value.

Factors that can decrease a car's value include unusually high mileage, poor maintenance history, visible wear and tear, accidents or damage, title issues, and gaps in ownership history. Additionally, less popular color choices and extensive modifications that don't appeal to a broad audience can reduce value.

Mileage plays a significant role in a classic car’s value. Lower mileage usually increases value because it indicates a higher degree of originality, is rarer, and suggests less wear and tear. However, cars with exceptionally low mileage may also have maintenance needs due to lack of use. Whether someone should pay more for a vehicle with lower miles will depend on how they plan on using it, and the vehicle's specific condition.

The value of modified cars differs widely based on the type and quality of modifications. While some modifications can significantly increase value, especially performance enhancements and high-quality custom work, others may not add much or could even detract from the car’s value if they appeal to only a limited audience.

All prices shown here are based on various data sources, as detailed in About Our Prices. The Hagerty Price Guide is for informational purposes only and is not intended as financial advice. More information on how forecast models are calculated can be found on Forecasted Values page. For additional information and a complete description of benefits, visit hagerty.com/legal. Purchase of insurance not required for membership in HDC. Hagerty, Hagerty Valuation Tools & Hagerty Drivers Club are registered trademarks of The Hagerty Group LLC, ©2025 The Hagerty Group, LLC. All Rights Reserved. The Hagerty Group, LLC is a wholly owned subsidiary of Hagerty, Inc.