The Volvo 242– heck, the entire 240 line– have reached undeniable “classic” status among gearheads and buy-it-for-lifers in recent years. For good reason, too! The cars are simple, reliable, and built like Panzers, so the fact that they’re kind of good-looking is icing on the tank cake. The 240s are getting to be so desirable these days that some people are spending real money to restore and resto-mod the things … but none of them have done it quite like Phil Moul, the owner and builder of the wild machine you see here.

Andrew Ritchie, over at SpeedHunters, has a fantastic write-up on Phil’s car, which is stuffed full of 5.0-liter Coyote V8 motor from a late-model Mustang. The Coyote V8 sends power to the rear wheels (of course) through a Mustang-spec. Getrag MT-82 6-speed gearbox and driveshaft, as well, on its way to a Ford 8.8″ rear axle sourced from a Ford Explorer.

All in all, it seems like a clean installation and a perfect ratmobile/rustorod build for cruise nights or Radwood-style events. At least, that’s my take on the car– what do you guys think? Follow the source link, below, to Andrew Ritchie’s original article, check out the amazing photography there (I’ve picked my favorites, but there are lots more!), and then let us know what you think of this awesome, Coyote-powered 242 in the comments section at the bottom of this page.

Source | Lots More Photos: SpeedHunters.