This 1998 Ford Mustang Cobra is a low-mileage time capsule, and an intriguing choice for a 90s-era muscle car that has flown under the radar of some collectors. The Cobra namesake is obviously synonymous with high-performance Fords, but the SN95 cars have trailed the Fox body Cobras in terms of desirability. This 1998 Cobra listed here on eBay has the desirable 32V, 4.6L V8 that makes good power but not necessarily enough to justify the cost premium over a standard GT; however, a Cobra like this will also come with upgraded brakes, wheels, and suspension tuning.
The seller has listed this Cobra with a price of $25,000 and no option to submit a best offer. The Cobra of the SN95 era didn’t look dramatically different from the standard GT model, which almost certainly played a role in it not becoming an instant collector car. Oftentimes, when you hear complains about this Cobra, it has to do with some combination of not being special enough or enough of a performance boost over a GT, both of which are reasonable claims. But throughout the course of automotive history, a genuine Mustang Cobra has always been a bit of an item – save for, perhaps, the Mustang II.
The driving experience in the SN95 cars was a pleasant upgrade over the Fox bodies, with some nicer touches inside the cabin to lose some of the bargain basement feel of the previous generation. Bolstered leather bucket seats, white-face gauges, an attractive dash, and an upgraded stereo make for a comfortable cockpit, and the low mileage on this car ensures it all remains in mint condition. The interior materials coming out of domestic manufacturers in the late 90s were still average at best, but this one is holding up well. The seller doesn’t mention if anything isn’t working or if there are any warning lights on the dash, but these were pretty easy to live with when new.
According to Mustang enthusiasts, the 4.6L engines are a bit gutless down low, and you have to wring them out to get them to sing. However, a set of 4.30 gears are said to wake this engine up nicely, along with the usual suspects like a cold air intake and cat-back exhaust. In stock form, the Cobra makes 305 horsepower and 300 lb-ft of torque, which is nothing to sneeze at – but throwing some bolt-ons at this car will certainly improve the driving experience. The asking price seems ambitious to me for an era of the Cobra that’s not particularly popular, but it’s still hard to fault a near-showroom example like this.
Just curious, does anyone else get that warm fuzzy feeling when a car they liked( or disliked) is featured? Anytime a 4th gen Mustang is featured, and a red one, no less, garners that feeling. At least I hope that’s what it is.( checking underwear) Okay, mine wasn’t a SVT Cobra, but a red, ’95 V6, 5 speed, it was one of my favorite cars. The Texarkana police thought so too,long story, hey I’m a free man, aren’t I? It was such an about face from my ’88 5.0 LX, which I disliked, and not even remotely the same car. Sold it to my ex-SIL, who loved it too, they are really nice cars.
You must have run into a cop who got out the wrong side of the bed. I have never been stopped in Texas (or anywhere out west, as well, for that matter). I used to do a lot of traveling for work and I got around. Time was money and I let her rip most of the time. East and Midwest? Totally different story, the cops there seem to delight in stopping us poor working stiffs just trying to make a living to feed our families. Speed is not a safety problem in a wide open space on a dry road with a responsible adult behind the wheel, but the revenue happy locals, smugly don’t care. Patrol the school zones, heavy traffic areas, of course, but why bother someone out in the middle of nowhere?
Hi Curt, yeah, be that as it may be( crabby cop) he was sitting on an exit ramp, facing traffic, and a red Mustang from Wisconsin with 1 person had “stop me” signs all over it. He pulled me over claiming I was tailgating, which I wasn’t, and after a lengthy search, determined I wasn’t the drug kingpin from the north he was looking for. Apparently, that particular route was known for drug running. Now they tell me,,,
Good job Jeff at describing the pros and cons of this generation of Cobras. I for one like their subtle looks; the triple black convertible has long been a favorite. I wonder: with the rise in prices over recent years of clean Fox Bodies, will this generation of Mustangs ride their coattails and also start to pick up in value?
Bob,as the former owner of seven 85-90 Fox bodies over the years, and current owner of a 95 GT 5 speed 5.0 I certainly hope they are next in line to blow up price-wise.I personally think they are better built,quieter ride,not as rattle-trap prone.
Just sold my ’99 Cobra convertible this past summer. Had it priced way, way under this coupe. Listed it in April, sold it in late August. The car was in very good condition. No rust, no dings, almost perfect underneath, and inside. I barely broke even with what I had I the car. Great cars, but no market.
Im sure you did price it way below this one,it has 5k miles.It must still smell new…and you’re correct that there is no market NOW.Just like the fox bodies ; one minute an 89 GT was going for $3500,4 years later that same car was suddenly worth $8000.Of course I’m just tossing numbers out there but the point being that if you buy a car when it isn’t popular (bought cheap)and still have it when the value shoots up(hopefully)then that would be a good time to sell.Simply my observation
I just watched a Jay Leno episode about two hours ago where comedian Gabriel Iglesias (“Fluffy”) bought a bunch of cars at an auction and was seeing them in person for the first time in Jay’s “garage” (warehouse). One was a red 1994 Ford Mustang SVT Cobra convertible with 12 original miles on it. My apologies to Jeff and the seller for threadjacking this one.
https://www.youtube.com/watch?v=G-_IGK2mtAg
’98 SVT Not enough of a performance boost over the GT ?
Gutless? Maybe in a Marauder but in the SVT runs hard.
The twin cam, handbuilt aluminum engine SVT has 80 hp and smokes 5.4 sec. to 60 mph over the GT’s 7 – 7.5 second run. Not even close.
I had 4 fox body 5.0s and a 2005 3-valve 5.0 GT and all ran well but were done before 5,000 rpms and the SVT pulls to 6k.
Performance upgrades would be for the GT, not the SVT – they are already done.
Hold value – not so much but the goods are there.
I believe the 05 GT was a 4.6,the “old” 5.0 stopped in ’95(I have a ’95 GT)and were 4.6s until the return of the coyote 5.0 in i believe 2011ish?
Correct – my 3 valve 2005 was a 4.6 … 5.0 fever!
Good catch. Ran well, my first HO with auto.
Yes, 2011 on Coyote production. It was under design as a 4 valve 5.0 liter back in 2007, built on the 4.6 modular design.
Named Coyote I read because the first four-valve V8 engine Ford racecar was driven by AJ Foyt, who was named “The Coyote”.
Love my ’97 and would never dream of selling it, but the price for this one seems a bit ambitious. Given the hazing of the headlights, looks like this one might’ve sat outside for a time, too…I’d be checking the condition of the paint closely since Laser Red doesn’t seem to do too well when left out in the sun.
Is this color Lazer red or Rio Red?
The window sticker on my 1998 that is just like this one reads “LASER RED TINTED CLEARCOAT”. I agree with the comments regarding the hazing of the headlights. A car with that few miles shouldn’t have headlights that look like that. But I don’t know why. My car has 20,000 miles on it now and its headlights still look almost brand new.
In July 2022, I saw a Cobra identical to this one advertised by a Ford dealer in upstate New York. It had 2,500 documented miles on it. I flew up there, took it for a five minute spin and bought it. Then I drove it back to my home in Texas in three days. It’s sitting in my garage right now with about 20,000 miles on it. I love these cars. In April 1997, I bought my first one, a black 97 Cobra coupe and kept it for two years and then traded it in in 1999 for a slightly used chrome yellow 98 one. Kept it 11 years. Sold it to an older guy when it had about 108,000 miles on it. It was one of the best cars I’ve ever had and my current one is the same. If you want one, the 98 is the best year to have. The 96’s allegedly had cooling problems. My 97 had a few minor electrical issues. My chrome yellow 98 – none. The problems with my current one are only because of age. They aren’t all that fast anymore but they do all right.
Owned an ‘88 and ‘93 LX 5.0 but never this gen. Looks nice but the yellowed headlights on a 5K miles car do raise some eyebrows. The seller would be well served to replace them or at least get them cleaned up to get that top dollar price he’s seeking.
Is it just me or does that driver’s side seat look well sat in. For only 5K miles,
someone heavy broke that seat in well.