Recently replaced smog pump, water pump and power steering pump.
Needs paint touch-up because Ford paint jobs suck.
This car was bought brand new by my grandparents, and was given to me as a gift of getting my license. I've owned the car for 3 years now, and have loved every minute of it. It has all the bells and whistles, the interior has held up very well (is in mint condition today) and the problems listed above can only be expected from an 18 year old car, which is not bad at all!
The car is 99% stock, except I had to put in a new radio (I love my CDs), and I replaced the speakers with new ones. I also added a bigger (2 core) radiator due to overheating issues where I live. My area is very hot in the summer, and the single core radiator wasn't cutting it. I can now run the A/C, give it some pedal, and go up the Grape Vine with no problem!
The car performs very well. It handles beautifully and I have plenty of power to get up to 65 MPH on those short freeway on-ramps. The balance between horsepower and torque is just right. I have nice get-up and go when driving around, and I have plenty of torque to tow the family boat (1991 Spyder Sport GM 4.3L V6 (18 ft long) ) I don't tow it much, but when I do, the car doesn't have a problem with it one bit.
The car has cost me virtually nothing to maintain. The few pieces I replaced, like I said, were expected for the car's age.
I love my 86 Cougar LS. If you find one for sale that has been taken care of, you should jump on that deal. I'm willing to bet people will start to realize that this is a good car and that sometime in the future this car will be worth more than it is today.
Well, it will probably eventually be worth more than a 1986 Mercury Topaz, but you shouldn't expect to see significant appreciation for at least another 15-20 years. Too many around yet, and it's age is in that range of: too old to be worth much of anything as a used car, but not old enough yet to be considered even remotely collectible.
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