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724 Original Miles: 2000 Ford Mustang Cobra R

Just when I go and say that the built-for-the-track Ford Mustang Cobra R never comes up for sale, there’s two in two weeks’ time that have come up for grabs. Of course, this one may not be finding a home all that quickly, as it’s listed for $110,000 on account of having just 724 original miles on the clock. Still, that price may be ambitious according to some price guides, but if the chance at owning what is (potentially) one of the lowest-mileage Cobra Rs in existence only comes along once in a blue moon, I’m guessing at least a few Mustang enthusiasts are considering making an offer. Find it here on eBay and located in Long Branch, New Jersey.

The seller has at least listed the Cobra R with the option to submit a best offer, so perhaps he has his sights set on a sale price closer to the Hagerty Insurance “Concours” price of $76,500. Now, I’ll be honest: that price seems a touch low to me. Hagerty, to some extent, has to base its values estimates on the cars its customers drive and the valuation they assign to them. Only 300 Cobra Rs were made, so chances are it’s rarely seen even at one of the largest collector car insurance agencies in the country. The car was built for going from the showroom straight to the track, and not just a drag strip – the Cobra R was much more of a road course weapon than simply a 1/4 mile machine.

What I love about the Cobra R is that it’s a screamer with a naturally-aspirated V8. No turbochargers, no superchargers, no electric assist to generate big power – just an SVT-engineered 5.4L V8 making just shy of 400 b.h.p. There’s nothing quite like an N/A V8 that just pulls and pulls, and that’s what this SVT wonder did, eclipsing 60 miles per hour in 4.7 seconds. It may look downright slow compared to modern Mustangs with their Coyote V8s, but you have to remember how dialed in the chassis was on these cars, offering drivers a factory hot rod that could actually keep up with its competitors when the road turned twisty. The interior of this car presents as being in new condition, as you may expect.

The window sticker remains in perfect condition, and hopefully, the next owner will get it laminated to keep it looking that way. Adjusting for inflation, the Cobra R would cost $83,108 in today’s money. The Cobra R we wrote up a few days ago had just over 5,500 original miles and was listed with an asking price of $70,000 (and it’s still available.) So, what’s the better deal? Some might say buying the 700-mile example makes more sense as it will surely keep its value and likely appreciate. The 5,600-mile car from a few days ago is one you can actually drive and obviously costs quite a bit less – so in the battle of Cobra R’s, that one gets my vote. What about you?


  1. Howard A Member

    I apologize to people who like the previous Mustang that I constantly poo-poo, ( 3rd gen) but my next Mustang was a 4th gen like this.( ’94-’04) Not the V8 , but it was red, V6( 3.8, I think), 5 speed, and had plenty of steam while returning decent mileage. Like I mentioned, I loved this car, it was everything the ’88 coupe wasn’t. Comfy for 4 adults, handled great, it was just a much better car. Like most Fords, it began using coolant, and I don’t suppose the heater core was any easier to change on these, but never got that far. To be honest, I never cared for where the Mustang went after these, but these were fun cruisers.

    Like 2
  2. Jcs

    I’m sorry, but that is a terrible pic from the front, looks like a snow plow or something. Do they really look this bad or is it just the angle?

    Like 2
    • Superdessucke

      No, that’s what it looks like. If it was worth (a lot) less money, you could plow your driveway with it!

      Like 1
  3. Skorzeny

    I honestly laughed when I saw the price. And Howard, are you sure that 3.8L didn’t have a bad head gasket or two?

    Like 0
    • Howard A Member

      I’m sure it did, that was Fords ace in the hole, I figure, tissue paper head gaskets insures work for the mechanics, or a new car altogether. I think all car makers jumped on the “thin head gasket” band wagon. My Sonoma wasn’t any better. Years ago, I never remember any head gasket problems when they were 1/8″ thick. Heck, YEARS, years ago, they’d reuse them.

      Like 0
  4. Brad

    A local neighboring highschool kid had one in 2011-2012.
    He would rev the hell out of it at football stadium & Whataburger parking lots.

    Like 1
  5. EPO3

    I don’t care if theirs a whale tail or one mile on a fox body. but you guys put way to many of these dime a dozens on barn finds

    Like 3
    • Jost

      You don’t have to like it, that is subjective but a Cobra R is not a dime a dozen

      Like 4
  6. Superdessucke

    I know these are hotly desirable and I’m sure it’ll bring an eye-watering sum of money. But I can’t get over the fact that essentially, these SN95 Mustangs are a mildly modified version of the original Ford Fairmont “Fox” chassis that debuted for ’78.

    Not saying they’re bad cars. I’d buy a 1987-93 GT or LX 5.0 or an SN95 Mach 1 if I had room for one. But at this price level, that lineage would bother me.

    Like 1
  7. Scott Member

    Does this have an engine? Thought there would be at least one picture.

    Like 0
  8. Jerry C

    I think the R stands for ridiculous.

    Like 0
  9. CJinSD

    The price makes a new GT350R look like a bargain. I don’t have any Cobra R experience, but my experiences with this generation of Mustang rental cars and GTs suggests that the ones that came before and after were far more desirable. Interiors that Tupperware would have rejected, low quality switchgear, cooling issues, and some of the last really terrible shift linkages were the distinguishing characteristics. The body design signaled Ford had thrown in the towel and would never design a truly new Mustang like the Fox ever again.

    Like 1

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