With technology at our finger tips, old barn and garage finds are but a click away. Recently found by our friends over at Barn Finds, is a rare 1978 Mustang II King Cobra currently listed on Craig’s list for a cool $3,400 in sunny Pensacola, Florida.

The Mustang II, the second generation of the pony line up, today is often considered the less than desirable horse roaming the Mustang pastures. Upon its release in 1973, Ford Motor Company was making moves to react to the current fuel crisis of the day.  A complete redesign, the new model had no common components from the preceding model and shared its platform with the subcompact-sized Ford Pinto. With the market moving away from larger sized vehicles, Ford was looking to ensure the Mustang’s future. Love or hate the II. it very likely saved the Mustang during this time of economic struggle.

The King Cobra was a limited edition version of the Mustang II that featured a deep air-dam, stripes, and cobra badging that included a snake decal on the hood. With 4,313 units produced, the King Cobra came powered with the V8 engine to help bolster the car’s performance image.

Overall this King Cobra is in fair condition and appears to have good bones to work with. With only 48,000 miles on the original 302 engine, this ride could make a great project to restore for someone who has time to spare, or in our minds better yet a restomod.

While it is unsure if the second generation Mustangs will ever become a high end collectibles among the more popular models, one thing is for sure it does have a small loyal following, and probably will never cost as much as the beloved 60s model.  Would you give this old horse a second chance? For more info on this ride stop by and visit Barn Finds.