I went and looked at this yesterday. Except for a few places (trunk, one quarter panel slightly, bottom of A pillar -driver's side) it's remarkably rust-free other than some surface rust. 1.6 engine might be seized, but it has a pretty good body for being 43 years old.
Evan? Looks like a good place for a rotary...
http://www.ebay.com/itm/Mercury-Capri-Base-1971-Mercury-Capri-Base-1-6L-/321441988565?forcerrptr=true&hash=item4ad76f7fd5&item=321441988565&pt=US_Cars_Trucks
Great, after I buy a Miata 
.
I'll have to keep an eye on it. It will likely be out of my budget very quickly.
Loves me some Capri.
Stan, please come to a rallycross so I can throw a helmet at you, too... 
Dang thats nice....
Dang thats nice....
Evan- another Miata?? You crazy. But you're right, he's probably looking at getting around $2K or he keeps it.
Knurled- what I ever do to you?? 
Mrwillie- so nice you said it twice...
Anyone have any questions or want any info, just ask. Paul -the owner- is a nice guy and full of knowledge about these. He still has the one he bought new in '71.
stan wrote: Evan- another Miata?? You crazy. But you're right, he's probably looking at getting around $2K or he keeps it.
Yea, the current bid is about my budget.
The Miata is some junker that was pawned off on me.
Has anyone had any recent experience w/ owning these? Do they make good dailys?
I owned 3-4 of them. Either the 2.0L or the 2.6-2.8L. The 1.6L Kent is not a bad engine. Parts are easy to find as it's the engine used in SCCA Formula Ford race cars. The 1.6L Capris are early models and there is some parts that are unique to this model. Swapping in one of the later engines is not hard. Even a 5.0L V8 can be done but the brakes and suspension would need to be upgraded.
Keeping the stock drivetrain and making it a DD would require that the car is gone though. Brakes would be the top of the list. The cars are simple to figure out and fix as most cars of that era were. The seat backs have been know to break but as old as this car is it may have been fixed by now. There was a dealer recall on it. The trans in this car I think has an internal linkage while all the other models used a different trans and an external linkage. The shifter levers on the other trans can break if shifted to hard. Ask me how I know.
Over all I would say it could be done but expect a car that is at best average in performance. The average newer compact car will out corner it, out accelerate it, out brake it, and get better MPG's while doing so.
40 years of automotive development is the main reason.
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