Black Binder Included: 2000 Ford Mustang Cobra R

Disclosure: This site may receive compensation from some link clicks and purchases.

The Ford Mustang Cobra R is one of a handful of modern classic SVT models that has seemingly held its value very well. This is not always the case for SVT cars and trucks, as the SVT-badged Contour, Focus, and some early Lightning pickups can still be bought for reasonable money (these are excellent performance bargains, by the way.) The Mustang Cobra R was a revered performer out of the gate, and has held its value well, helped by the fact it was produced in very limited numbers. This example is made even more desirable for having loads of documentation including the often-missing black binder. Find the Cobra R here on eBay where bidding has reached $75,000 with the reserve unmet.

The black binder issue is a big deal among Cobra R owners, and you don’t have to Google too far to find pages of forum posts with owners of otherwise time capsule-grade examples lamenting the fact that the dealer didn’t give them the binder when they purchased the car. If I’m reading the background info correctly, the binder was associated with a specific VIN, so if you left the showroom without the binder, there’s a good chance the selling dealer still had it in a back room – or just dumped it once you left with the car. Either way, this supporting documentation on a vehicle they only made 300 of is a huge selling point for this car.

Just 300 Mustang Cobra Rs were made, and in only one color. These were essentially track cars that you could drive on the street, stripped of luxury features with several performance enhancements added in. The list of improvements includes Recaro seats, upgraded Brembo brakes, side-exit exhaust, track-ready Bilstein suspension, larger sway bars, and a 385 b.h.p. naturally-aspirated 5.4L V8, good for a 0-60 run of 4.7 seconds. There were numerous aero enhancements as well, from the front air dam to the rear spoiler, all functional improvements designed to keep the Cobra R firmly adhered to any road course it found itself on.

The seller notes he has owned several Cobra Rs, and this one is fortunate enough to retain all of its prized documentation because he purchased this car new. It has just over 2,000 original miles on it, and that limited use is certainly evident in photos. The paper trail is exceedingly important on small volume, high performance cars like this, and for examples that aren’t accompanied by the original binder, you’re talking about a value hit well into the thousands of dollars. It proves without a doubt that documentation is key when selling special cars, so hold onto those receipts when you buy a new muscle car or order parts for your existing project. This clean Cobra R may not hit its Buy-It-Now of $125,000, but I suspect it will get close.

Auctions Ending Soon


  1. Bob_in_TN Bob_in_TNMember

    Rare, highly desirable, high-performance “modern” Mustang in near-new condition brings the big bucks. I wonder how many of these saw the track…. probably not many.

    I didn’t know the detail about the black binder, but it makes sense. Aside: in certain classes at Mustang Club of America shows, certain classes are awarded bonus points for original documentation. Now, in one particular class for Gen 5 original condition cars, the documentation is mandatory (window sticker, dealer sales document, brochure, owner’s manual, dealer promotional material e.g. key fob or license plate frame, etc.)

    I make this comment not in the context of “flippers,” i.e. the pros and cons of buying and selling cars for profit, or in the context of cars as investments. Rather, it is just interesting to me that here is the rare instance of a newish car’s value roughly keeping up with inflation. $55k in 2020 is about $85k today.

    Like 3
  2. Terrry

    I can understand the high price. Anything with a 5.4 Ford motor that actually runs strong is probably rare as hen’s teeth, especially if it’s in a Fox body.

    Like 1
  3. JoeNYWF64

    Is not any new Mustang with a v8 faster than this car for a heck of a lot less money? Also safer & handles better.

    Like 1
  4. Mike

    Rear wing looks ridiculous.

    Like 4
  5. Paul

    These 2000 Cobra R’s are now hitting their stride. This R was the cool deal back in the day and it holds up. I think the rear spoiler is neat, it is outrageous because this is an outrageous Cobra, you had to admire the folks at Ford for going through with the design. Kind of has a “Fast and Furious” vibe but it is from the factory!

    A Cobra R without the black book, really high miles (42,000!) that had been tracked and modified went for $61k last month on Bring a Trailer. This one should do close to six figures or more. Amazing car!

    Will definitely be following this one, should be fun.

    Like 2
  6. t-bone BOB

    Item location:
    Worcester, Massachusetts

    Like 0

Leave A Comment

RULES: No profanity, politics, or personal attacks.

Become a member to add images to your comments.


Get new comment updates via email. Or subscribe without commenting.

Barn Finds