The fourth generation Mustang debuted in late 1993, officially as a 1994 model. Codenamed SN95, its first design cycle ran through 1998, and then received a refresh in 1999 with what was known as the “New Edge” styling. Production would continue through 2004, prior to giving way to the fifth gen S197 in 2005, with its much more retro design. Today’s feature is from the final production year of the fourth generation, a 2004 Saleen S281 Mustang featuring the classic white on white look. Located in Myrtle Beach, SC, this Saleen is currently for sale here on eBay for the Buy It Now price of $24,995 or Best Offer.
In addition to factory performance variants of this era like the SVT Cobra, Cobra R, and the Mach 1, specialty manufacturers like Saleen and Roush also made their mark with their offerings of the fourth gen ‘Stang. In 2004, Saleen offered four levels of the Mustang in both coupe and convertible: the base S281, the S281 S/C, the S281 E, and the S281 Cobra. The seller’s offering is the base S281, which didn’t bump the factory power much, but did add several additional goodies, like upgraded suspension components, a performance exhaust system (this one having the optional center exhaust), reworked urethane front and rear fascias and side skirts, and of course, oodles of Saleen badging. These always seemed to have the aggressive look that was somewhat missing on the factory GT from this era.
Overall this example presents quite nicely, attesting to its original 42,078 miles on the odometer. The exterior looks to be in great shape, and despite some minor creasing on the seats, the interior looks to be in good order as well. Now maybe the paint looks that good because the seller states this car has been repainted to “correct minor factory paint imperfections and age-related fading,” along with the white wheels receiving a fresh powder coating at the same time. One thing that appears to be missing is the serialized driver’s side front bumper number that is a staple of these Saleens. Maybe its reapplication was forgotten after the repaint?
The seller also mentions that the headlights and taillights have been replaced with new units since the old housings had become oxidized, and the tires are fresh as well with “100% tread.” Classic.com has these S281s valued right around $20,000, so given the fresh paint, tires, and other upgrades, not to mention all of the documentation the seller displays, they may not be too far off on their asking price. And I wouldn’t be surprised if these see an increase in value in the future; after all, they only made 187 of these base S281s in 2004, and even less of the more powerful variants. If the seller is willing to move down some on the price, you could have one fun ride with a nice V8 exhaust note and 5-speed manual. And since Saleen’s flagship S7 can only be had for about 25 times the price of this S281, I think I’d let this be my foray into Saleen ownership, how about you?
Wow. $40k original price, plus whatever dealer markup was added, was a lot of $$$ 22 years ago. Looks like this one is nearly well priced and possibly a fun buy.
This is worth the asking and to me looks its best in white. These are fun cars on twisty roads the center exhaust was an option when new. Also when new there was the option of getting it with a supercharged model which was the SC 281 which was not cheap. Almost bought one years ago now i would be just as happy with this one.