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You're not going to see it at a show. Judges won't be able to tell whether it's there. In fact, it may not see the light of day again in our lifetimes.
But Eric Petosa still documented and then replicated the factory markings on the inside of the pumpkin of the Ford 9-inch axle in his 1970 Cougar Boss 302 Eliminator.
Insane? Obsessive? Anal retentive? You say those words as if they're derogatory.
In truth, Petosa probably has the most-documented Cougar Eliminator in existence. Marti report? Ford Customer Assistance Center report? Those are just the icing on the cake. He has the original invoice. He has the first registration card issued to this car. He has the canceled checks from the first three lease payments made on this car. He has previous owners' receipts from oil changes in the 1980s.
Disassembly of the Eliminator started soon after its purchase, and Petosa made sure to document and save absolutely everything, especially under the hood; every fastener remained with the car
Never mind that the Cougar is one of just 146 Eliminators to get the Boss 302 engine in 1970 and, according to Petosa, is the last Eliminator built (June 10, 1970) as well as the only Eliminator ordered with Lime Green Metallic paint and Medium Ivy Green interior and hubcaps.
Knowing all that, wouldn't you take the utmost care in restoring this Eliminator?
Actually, if you would have bought it in the condition Petosa did, you might not have considered restoring it. He bought the Eliminator in May 2000, becoming the fifth owner. Up to that point, the Cougar had spent its life in various Western states--Colorado, Wyoming, Texas, Washington and California--so it never saw the killer salt typical of Petosa's home in the Catskill Mountains of upstate New York.
Petosa said he actually drove the Eliminator around a bit shortly after he bought it, mostly to get a feel for what he would need to replace when he would tear it down. With about 122,000 miles on the odometer, though, and with everything still in place, from the Toploader wide-ratio four-speed manual transmission and its Hurst shifter to the 290hp Boss 302 engine, complete with all of its original smog equipment, Petosa had little to worry about when it came to the drivetrain. In fact, according to all the receipts Eric had gathered, the Eliminator had only been in shops for routine maintenance--brakes, bushings, repacking the wheel bearings, an idler arm in 1988, a clutch later that year. "Everything on the car worked, even the turn signals," Petosa said. "Nothing was missing on the whole car, including the smog pieces. Thank God those were all there, because those would have been real hard to find."
As for the body, the dealership that originally sold the Eliminator--Kumpf Motor Car Co. in Denver, Colorado--had installed an aftermarket black vinyl roof, which didn't quite fit in Petosa's plans to return the car to fresh-from-the-factory condition, so he chucked the vinyl to find nearly pristine sheetmetal underneath. "I actually took my paint sample to match the paint from the metal under the vinyl top," Petosa said. In fact, he only found surface rust on the inside of the front fenders, some rust bubbles on the bottoms of the doors (where drain holes plugged up) and rust-through on the lower left quarter, where it appeared the quarter had suffered damage and was at one point repainted. The original paint remained on the firewall and the original undercoating and overspray remained throughout the underside. The Eliminator decals on the rear quarters, which often rubbed off entirely, remained nearly intact.
Teardown began about three months later in Petosa's barn. The barn, which once housed horses many decades ago, had wooden floors where Petosa planned to restore the car, so he poured concrete floors in that section, hung plastic sheeting to keep the dust down and installed fluorescent lighting so he could see the car. Rather than dump all the old parts in a pile once he unbolted them from the car, Petosa meticulously documented and photographed each part, making sure to note installation orientations and any date-codes stamped, painted, etched or silk-screened into the part.
Who would have suspected the inside of the rear axle's pumpkin had markings, let alone that anyone would document and replicate them?
"I had a big rack, like a UPS rack, and I labeled every piece and put it in a plastic bag, and I even dated the bags to note when I took the part off of the car," Petosa said. "This was before digital cameras were as good as they are now, so I took a lot of Polaroids, but I also videotaped the disassembly procedure, and now I have eight hours of video of taking the car apart."
As if that didn't provide enough reference, he also had a 1970 Mustang Boss 302 with a build date 30 days off of his Eliminator and he bought another 1970 Cougar with about 45,000 miles on it and all of its original hardware, paint, coatings and markings. "That car was so valuable for reference," Petosa said. "I still look at it from time to time to see if anything needs to be changed on my Eliminator."
Petosa soon befriended Bob Perkins, the Mustang Club of America's chief national judge and the owner of Perkins Restoration in Juneau, Wisconsin, who would prove invaluable for the restoration. Petosa said he spent an entire week at Perkins' shop in Wisconsin, picking his brain for tips on finishes, on correct parts and on assembly line procedures. "Without him, I couldn't have done the car," Petosa said. He said he returned home from that week with three boxes full of Boss 302-specific parts. "All the hard parts," he said, and a wallet that was $20,000 thinner.
The preponderance of date codes on the Boss 302 Cougars and Mustangs made the restoration of this Eliminator particularly challenging. Just about everything on a Boss 302 car, from the battery to the driveshaft, is either date coded or marked specifically for a Boss 302 drivetrain. The factory stamped both the engine and the transmission with the car's VIN. Even the air cleaner has markings specific to a Boss 302 car. "A regular Cougar isn't as date coded as a Boss 302 Eliminator," Petosa said. "Maybe they suspected from the start that these cars would be valuable someday. But it was probably so that they wouldn't get in trouble with Trans-Am's production rules, so they made sure everything was documented."
As the fully restored car sits today, one could swear it rolled off the hauler right into a time capsule
The documentation helped Petosa iron out a few inconsistencies with his Eliminator, as did discussions with the car's original owner, Henry Brenniman. For example, every Eliminator came with color-keyed side mirrors, but his had chrome mirrors on both sides because that's the way Henry ordered the car. Petosa noticed a line on the invoice that read "Delete Install Rear Spoiler," and confirmed with Henry that he did indeed order the car that way, but that the spoiler still came in the trunk. While not on the invoice, Petosa did discover that, while most Eliminators came with 14-inch Magnum 500s, his originally came with 14-inch steel wheels (Date coded, of course. Boss Mustangs came with 15-inch wheels.) decorated with dog-dish hubcaps and trim rings, which Kumpf Motor Car replaced with full hubcaps. Those hubcaps remained with the car when Petosa bought it, but he sourced the dog-dishes--specific to 1970 cars--one by one. The trim rings, fortunately, remained unchanged and they weren't date coded from 1967 to 1970, making the search for replacements much simpler.
About a year's worth of weekends and evenings later, Petosa had the Eliminator stripped and documented, down to the last nut and bolt. He then turned his attention toward the few rust issues. He said he located an NOS rear quarter to repair the rust on the Eliminator. "I went with NOS rather than the reproduction quarter panels they have out now because the originals have a little recess around the drain hole at the bottom of the quarter and the reproduction panels ignore that recess," Petosa said. He then cut the NOS panel to obtain a correct patch panel of the necessary size and welded the panel in using a Hobart Handler 135 MIG welder. As for the rust bubbles on the door, Petosa said they cropped up in a flat section of the door skin, so he just used a piece of flat steel of the same gauge as the door skin and welded that in.
Ahead of Petosa lay not just the effort of stripping the car down to bare metal and painting it, but the more monumental task of reassembling the Eliminator precisely according to his disassembly notes and of rounding up the NOS parts necessary for such an authentic rebuild.
OWNER'S VIEW
Eric Petosa, 46, owner of a construction company in the Catskill Mountains, said his whole intention with this Eliminator was to find the most original and intact Boss 302-powered Cougar possible.
"I wouldn't have gone this far if it weren't such a rare car," he said. "I definitely spent a lot more time researching this car and looking for parts than I did actually putting it together. I chose the Cougar because I already had a Boss Mustang, and I think the Cougar just looks and rides a lot nicer than the Mustang. This Cougar just looked so slick, especially with the Eliminator package blacking out everything. Plus, the Mercurys really are rarer cars than the Fords.
"If I had to do this car all over again, I might not have spent $100,000 in the restoration, but it was worth it, especially when I got to see Bob Perkins's face after
I finished it."--Daniel Strohl
Recent
General Motors
General Motors announced that the Chevrolet Malibu will cease production by the end of the 2024 model year following several years of scaled back production and slowing sales. The once-iconic car was first introduced in 1964 and garnered 10-million models sold in its lifetime.
The Chevrolet Malibu got its start as a luxury trim level on the classic Chevelle model and quickly carved out its own identity in the automotive industry over nine generations. Production ended once in 1983, but GM brought the Malibu back in 1997. It was once the top-selling midsize sedan in the United States and a common sight in family garages across the nation. Beginning in the early 2000s, sales began to decline as SUV and pickup truck sales began to skyrocket.
Today, the automotive market is dominated by full-size trucks and SUVs, with the Ford F-Series lineup, the Chevrolet Silverado, and Toyota’s RAV4 ranking as the top sellers for 2024 so far. Midsize cars earned only 8-percent of new U.S. vehicle sales in 2023, including the sale of just over 130,000 Chevrolet Malibu models. The last recorded increase of sale for the Malibu took place in 2016 after the model year’s redesign, but it is speculated that many of those sales were low-profit and went to rental car companies.
The Malibu is Chevrolet’s last sedan as the brand focuses on hybrid and electric SUVs and trucks. The Chevrolet Corvette could be the bowtie’s last surviving car model for the time being since the last Camaro rolled off the assembly line late last year, but the Camaro could be making a comeback in EV form.
So what vehicle is replacing the long-lived Chevrolet Malibu? GM states that the Kansas assembly plant will cease production of the Malibu sedan in November of 2024. The future model to replace the Malibu production line will be the next-generation Chevy Bolt EV, which GM said is coming in 2025 or 2026, likely in the form of a compact SUV or crossover hatchback. The Fairfax Assembly plant will reportedly receive $390 million in updates for its future model production, which also includes the Cadillac XT4 SUV.
The phrase “they don’t make them like they used to” rings true to the Chevrolet Malibu. Check out the fleet of classic Malibu’s listed on Hemmings Marketplace.
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Photo: General Motors
Chevrolet made waves in ’01 when it brought back the Z06—a bona fide track-day-ready, package for America’s sports car. This hot new Corvette wasn’t exactly all-new, however. It was an evolution of the “fixed-roof coupe” (FRC) introduced in 1999 and aimed at performance-minded buyers looking for a lighter, cheaper, more rigid Corvette. A six-speed manual was the only transmission available on those earlier ’Vettes and the Z51 suspension was standard issue. Interior choices were limited to: standard buckets (optional sports seats weren’t available); and black upholstery. Niceties like the optional power telescoping column or a power passenger seat weren’t offered. Today the FRC is an unusual find, as just 4,031 were made in 1999 and 2,090 in 2000.
The Z06 took the FRC to the next level, though the tradeoff was a higher price tag: approximately $47,000 for the ’01 Z06, versus $38,000 for the ’99 FRC. For the money, buyers got the best speed parts and engineering tweaks Chevrolet had to offer: the LS6 engine, initially rated at 385 hp, then 405 hp; a six-speed manual with more aggressive transmission gearing than standard; a titanium exhaust system; thinner glass; Goodyear Eagle F1 SC tires mounted on lighter, stiffer forged aluminum wheels; less sound-deadening material; a fixed radio antenna instead of a power antenna; and a smaller, lighter battery. The car also introduced rear-brake cooling ducts integrated in the rear fenders, which would become a signature Z06 styling cue. At less than 3,200 pounds, the Z06 weighed 36 pounds lighter than the FRC, and 117 pounds lighter than the standard coupe or convertible.
One of the ultimate C5 Z06s was the 2004 24 Hours of Le Mans Commemorative Edition, acknowledging Corvette Racing’s historic 1-2 class finishes in 2001 and 2002 (also 2004). Just 2,025 Le Mans Commemorative Editions were built assuring their collectability.
As far as the regular Z06 goes, all told, there were 28,388 built over four model years, so they’re not difficult to find these days. It can, however, be difficult to find stock, low-mileage examples, as many owners drove these cars as they were intended and tweaked them with bolt-ons for even better performance.
According to classic.com, average C5 Z06 prices have increased significantly over the last five years from $16,000 in 2019 to $32,000, as of this writing. One of the highest prices recorded for an unmodified example was at Mecum’s Kissimmee sale in January. The car was a 2001 painted Speedway White (one of 352 in that color) with just 218 original miles, and it sold for $71,500 including fees.
In July 2023, a black 2004 Z06, driven fewer than 1,600 miles, sold on Hemmings Auctions for $52,500 - just shy of the car’s original MSRP of $53,485. On the more affordable end, back in 2020, a 2001 Z06 listed as unmodified, but with 154,680 miles on the odometer, changed hands on Hemmings Auctions for $9,000.
These cars have received a lot of attention lately and appeared on many bargain-priced performance car listicles. Their low-buck status seems to have changed as a result and prices have nosed skyward. Still, the first-edition Z06 is an excellent car that offers a lot of track day potential with very low running and maintenance costs. If you’re interested in owning a 2001-’04 Corvette Z06, here are some points to consider.
Body
Image: General Motors Artist: David Kimble
C5 Corvettes used sheet-molded composite body panels made of 40 percent resin, 33 percent calcium-carbonate filler, 20 percent chopped fiberglass, and 7 percent resin and hardeners (used to improve the surface finish of the panels), according to Chevrolet. The floor pan was made from SMC inner and outer panels with balsa wood sandwiched in between. The 2004 Le Mans Commemorative Edition Z06 used a carbon fiber hood to shave 10 pounds off the nose. When inspecting a Z06, you’ll want to inspect the lower portions of the car for signs of damage—the fascias and rocker panels. The three-piece air dam on the front is prone to taking hits because it rides so close to the ground. Replacement air dams are widely available and it’s important that the pieces be installed correctly as the dam helps direct air to the car’s radiator. You will also want to check the floorpan for signs of damage or previous repairs. Floor pans punctured by debris in the road aren’t unheard of on these cars and you’ll want to make sure the repair was performed correctly to guard against leaks. The quarter panels on these cars are bolted on, so check for proper fit and signs of replacement that might indicate previous accident damage. Aftermarket body kits are available for C5s and popular with Z06 owners looking for some additional body width and larger wheelhouse openings.
Something else to be aware of - common among all Corvettes, not just C5s - are electrical grounding issues related to the composite body. These can cause a wide variety of mysterious conditions and usually the problem isn’t difficult to solve but can be difficult to trace.
Z06 exterior colors over the C5 generation included: Black, Torch Red and Millennium Yellow from 2001-’04; Speedway White, which was only available in 2001; Quicksilver, which was offered from 2001-’03 and replaced by Machine Silver in ’04; Electron Blue, which was offered in 2002-’03; and LeMans Blue Metallic was used on the ’04 Le Mans edition Z06. All of the LeMans editions were painted blue with silver and red graphics modeled after the 2003 C5R race car.
Chassis and Suspension
Among the most scarce of all C5 Z06s is 2004 24 Hours of Le Mans Commemorative Edition acknowledging Corvette Racing’s historic 1-2 class finishes in 2001 and 2002 (also 2004). Just 2,025 Le Mans Commemorative Editions were built, and they command a premium today. All of the LeMans Commemorative Editions were painted blue with silver and red graphics - a color scheme modeled after the 2003 C5R race car.
Photo: General Motors
The C5 Z06 was based on a pair of 13-foot long, continuous chassis rails, hydroformed in a die using fluid pressure - it was a very rigid platform and a first for the Corvette. Another substantial change in the C5 chassis, that made it an ideal production road racer, was the use of a rear transaxle. By moving the gearbox to the rear, the weight distribution nearly hit the 50/50 sweet spot, plus it freed up space in the cabin. An enclosed stamped-steel driveshaft tunnel (a torque tube) between the engine and the transaxle made the chassis even stiffer. The suspension hard parts were made from aluminum and transverse mounted leafs handled the bumps. The C5 front suspension used a setup similar to the late-edition C4s, with revisions, while the rear was an entirely new design with upper and lower A-arms and constant velocity joints replacing the old five-link/universal joint setup. Without a doubt, the C5 chassis transformed the Corvette. In addition to the superior handling, the cabin was easier to enter and exit, more comfortable to drive and the ride was less punishing—even the track-ready Z06. To ensure the Z06’s track readiness, it had unique FE4 suspension with a larger front stabilizer bar, a stiffer rear spring, revised camber settings and forged wheels that were 1-inch wider front and rear than a standard Corvette. The Z06’s steering was sped up too: 2.46 turns lock-to-lock versus 2.66 on standard C5s. Brakes were shared across the C5 line—four-wheel discs with 12.8-inch rotors front and 12-inch rear. The calipers were two-piston units but treated to a red finish on the Z06. Many owners choose to upgrade the stock brakes with aftermarket units. The stock rotors are fine for street use but have shown not to hold up well on cars that are driven hard on the track.
The 2004 model year Z06 benefitted from suspension revisions and new shock absorbers that were developed by GM through extensive testing. These units were a vast improvement over prior years. There are aftermarket options available that approach the performance of the factory ’04-edition shocks—which can be expensive and difficult to find today. Many owners have found that OEM C6 Z06 shocks are also a good fit at a lower price. The C5 chassis is a rugged and proven sports car platform that was designed to serve reliably for many miles. When shopping, take note of the typical items that wear out with age: anti-sway bar bushings/end links, control arm bushings, rear cradle bushings, ball joints etc. Be sure to ask about any maintenance work that might have been performed. A fresh set of tires is a selling point on these cars as well. The stock size Eagle F1 tires cost more than $400 apiece for the 265/40R17 fronts, and more than $600 apiece for the 295/35R18 rears - if you can find them. The selection of tires available in the factory sizes is limited these days so when it comes time for replacement you might have to consider alternatives like 255/40/17 or 275/40/17 fronts and 285/35/18 rears.
Engine
Image: General Motors Artist: David Kimble
The 5.7-liter LS6 arrived in 2001 with 385 horsepower and made the jump to 405 horsepower in 2002. It was an evolution of the standard Corvette’s LS1 with improvements to the block and pistons, better flowing heads with revised combustion chambers, a more aggressive camshaft, a redesigned intake and more. The LS6 is an excellent and proven performance engine that will serve many thousands of trouble-free miles. Initially, excessive oil consumption was an issue, but the problem was addressed in a Technical Service Bulletin. Replacement piston rings (due to a sealing issue) and a replacement engine valley cover (due to leaking) were prescribed for circa-2001 engines affected, and the changes were made in production to later LS6s. Reports and discussions of valve spring failures on 2002-’03 engines in particular also abound on internet forums. Replacing valve springs is a relatively cheap and inexpensive upgrade and is worth considering if the seller hasn’t performed the work already. Some of these engines have also suffered from separated harmonic balancers and balancer bolts that loosen and allow the balancer to come off - check for a wobbling lower engine pulley when the engine is running. The factory balancer is a press-on fit but there are aftermarket versions available that can be pinned to the crankshaft. Upgraded balancer bolts are also available.
Transmission and Axle
The Z06’s instrument cluster bears the logo of the popular performance package, and the tach has a 6,500 rpm redline.
Photo: General Motors
The Z06 used the TREMEC T-56 gearbox but it was equipped with more aggressive gear ratios for harder acceleration than the base Corvette. The trans was rear-mounted to a Getrag differential shared with all C5 Corvettes. Z06s were equipped with a 3.42:1 gear set with shot-peened ring and pinions.
The T-56 is an excellent gearbox, but miles and abuse can take a toll leading to some of the typical manual transmission maladies: grinding between gears, sticking in gear, popping out of gear etc. Sometimes the issue can be as simple as the shifter or the mount being loose, but some of these symptoms could also be signs of worn synchros or a damaged shift fork. The good news is parts are widely available and finding a knowledgeable rebuilder isn’t difficult.
The C5’s Getrag differential is a bulletproof and reliable unit that can withstand plenty of driving and punishment. The biggest issue with these has been seal leaks—something that was addressed in a circa-2003 technical service bulletin covering all C5 Corvettes. The TSB recommended replacement of the output shaft seal and the differential side cover O-ring. If a Z06 you’re looking at hasn’t had the work done and appears to be leaking, those seals are likely the culprit—and most frequently it's the output shaft seal. (Some techs recommend not disturbing the side cover if it isn’t leaking.)
Some C5 owners have also experienced issues with the clutch pedal sticking in the down position or returning slowly. Sometimes this can be solved by flushing and replacing the fluid in the hydraulic system. There are also aftermarket clutch return spring kits that can deliver more positive pedal action - once the fluid has been replaced and the system bled (an important maintenance item).
Interior
Z06 interiors were black or black with red accents and embroidered headrests. The Le Mans Commemorative Edition (shown) had graphite-colored upholstery with the Corvette emblem in the headrests instead of the Z06 logo.
Photo: General Motors
C5 Z06s had a unique instrument cluster with a Z06 callout on the tachometer and a 6,500 redline indicated. The bucket seats had additional side bolstering and embroidered Z06 logos on the headrests. Colors were limited to black, black and red and there was a graphite-colored interior for commemorative-edition ’04s with the Corvette crossed-flags emblems stitched into the headrests. It’s common to see worn leather side bolsters and seating surfaces in these cars but there are aftermarket covers and kits available to update shabby looking buckets. Many owners have complained of wind noise in C5s as the window seals age. Water leaks around the weather stripping is also a common problem. A locked steering wheel that can’t be unlocked, accompanied by the “Service Steering Column” message on the driver information display was one of the most common C5 interior issues reported. A 2004 recall addressed the issue (the recall number was 04006) and any car you’re considering should have had the recall work performed. Some owners took matters into their own hands and installed an aftermarket bypass kit that allowed the lock to function without interference from the car’s body control module. These seem to solve the problem as well.
Parts Prices
The Z06’s LS6 V-8 is generally a dependable engine. Horsepower was rated at 385 in 2001 and 405 from 2002-’04. Broken valve springs are a known issue, particularly on some 2002-’03 engines.
Photo: General Motors
- Air dam $114
- Brake rotor $60
- Carpet kit $680
- Harmonic balancer (aftermarket) $340
- Harmonic balancer bolt $41
- Seat covers $1,400
- Tires (front) $453
- Tires (front) $620
- Valve spring kit $100
What To Pay
Add $1,000-$2,000 for 2004 Le Mans Commemorative Edition
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