Cool build! If I remember right, Ponch bought it for 83 bucks. He rolled up on the burning car and put out the fire himself. He had a little bidding war with a tow truck driver, but won. I think Bonnie steals it in a later episode.
Here's a link....http://www.imcdb.org/vehicle_50077-Pontiac-Firebird-Formula-1971.html