Mercury sells half as many Cougars as Ford does the mechanically identical Thunderbird. Not bad, considering Mercury's more limited dealer network and the Cougar's more conservative styling. In concept, the Cougar is a traditional luxo-coupe boulevardier, but when infused with Ford's potent modular 4.6-liter V8, the Cougar's purr becomes a snarl.

Amazingly, the hefty Cougar V8 turns in some pretty impressive performance figures. It feels much quicker and lighter than it actually is. The exterior features traditional cues such as a chrome grille and formal roofline. Unfortunately, these looks make the Cougar a prime candidate for aftermarket or dealer-installed luxury packages' that include such gimcrackery as tacky opera lamps, fake convertible roof applications, and yucky gold trim add-ons. Not even the factory can resist cluttering Cougar's lines; a non-functional luggage rack is available on the options list. Inside, the Cougar offers first-class accommodations for five, with a sweeping dashboard that provides a cocooned cockpit feel to front passengers.

Since this is the last year for the rear-wheel drive Cougar, Mercury has decided to make it a special model. An Anniversary package is offered for buyers who want to commemorate this car's passing. The package includes a sportier suspension, plenty of badges, a unique interior, Toreador red paint, special seat, cool wheels, and better tires. If we were buying one, however, we would probably stick with the Sport Appearance Package. We don't know what it is, but anniversary edition cars always look a bit silly after a few years.

This iteration of the Cougar has been on the market since 1989, and this is your last chance to get one. If you have been saving your pennies for this car, it's time to cash in.