My honest assessment of the Mustang II after owning one for three years: it's better than its reputation and worse than its apologists claim.

The Cobra II package is a visual overstatement that obscures a reasonably capable car underneath. The 2.3-liter four-cylinder is torqueless but reliable. The V8 option — available from 1975 — restored enough performance to make the car genuinely interesting. The chassis, derived from the Pinto platform, was criticized at the time but handled acceptably.

What the Mustang II gets right: it kept the Mustang nameplate alive through the worst years of American automotive history. What it gets wrong: it's not a Mustang in any meaningful performance sense. Know which of these things matters to you before you buy one.