With the popularity of Fox-Body Mustangs continuing to grow, clean examples will always grab their share of attention when they are listed for sale. The interest ramps up a notch or two when the car in question is offered for sale with No Reserve. This 1993 Mustang SVT Cobra proves that point because it has already attracted 64 bids since it was listed for sale here on eBay. It is located in Monterey Park, California, and the bidding has already reached $28,100. There is still time left on the auction, so we can probably expect that price to go even higher before someone walks away with a stunning classic.
Ford offered the ’93 Cobra in three colors, and my favorite has always been the Teal Metallic that we find on this car. It is a shade that looks stunning, regardless of the light level. The paint on this Mustang seems good, with no significant chips or flaws. The panels are clean, while all of the distinctive aerodynamic pieces are in good order. The Cobra has spent its life in California, and that has allowed it to remain rust-free. This package also brought distinctive 17″ alloy wheels, and these are free from stains and physical damage. The glass is in excellent order, and overall, there is a lot to like about the presentation of this classic.
The person who buys this Cobra won’t need to spend a fortune on the interior because it presents exceptionally well for a vehicle of this type with 96,000 miles on the clock. The seats are upholstered in Opal Gray leather, which was the most popular trim color and material offered in 1993. Buyers could also have chosen Opal Gray or Black cloth trim, but an incredible 60% chose the Gray leather. The seats are free from wear and tear, while the carpet, dash, and plastic all appear to have survived well in the warm Californian climate. If considered in a 1990s context, this is an interior that is also well-appointed. The buyer will receive a driver’s airbag, air conditioning, power windows, a power driver’s seat, power locks, power mirrors, a premium AM/FM radio and cassette player, and a leather-wrapped wheel. However, there are a few things that the buyer will need to investigate, and most of these probably stem from the car’s lack of recent use. The air conditioning doesn’t blow cold, so it may require a recharge. The door lock actuator has stopped operating, and the buyer says that this will need to be replaced. The biggest worry is the airbag light because this has started to flash. That is something that I would place on the “priority” list because it may indicate that the airbag is now inoperative. We always hope that we never need an airbag, but it’s comforting to know that it will work when you need it.
The owner only supplies this single engine photo, and it isn’t a great one. By 1993, it was clear that Ford had rediscovered its mojo with the SVT Cobra. After years of suffering through some asthmatic offerings with all of the speed and performance potential of your average glacier, this model was like a breath of fresh air. Ford filled its 5.0-liter V8 with some of the best components from its parts bin that allowed it to produce an official 235hp. Many learned people believe that Ford may have been frugal with the truth here because figures of 255hp or more have been quoted through various specialist sources. Bolted to the back of that sweet little V8 is a 5-speed manual transmission, while the suspension benefits from Tokico shocks. Power steering was standard equipment, as were powerful 4-wheel disc brakes. This Cobra is a vehicle that demonstrates the enormous strides that manufacturers were able to make in engine development over a few short years. When the original Fox-Body Mustang was launched in 1979, its 5.0-liter V8 pumped out 140hp and could send it through the ¼ mile in 18.7 seconds. This 1993 Cobra should complete the same journey in 14.5 seconds, while a brave driver should get it to 150mph. It seemed that the glory days had returned for American performance car enthusiasts. The owner doesn’t get too specific on the mechanical state of this classic, but he does say that it would be great for weekend cruising or as a daily driver. That would seem to indicate that it is in sound mechanical health. He also appears to be very approachable, so he might be willing to answer questions from interested potential buyers.
With a build total of 4,993 vehicles, the 1993 Mustang SVT Cobra was not the rarest of limited edition classics. That hasn’t stopped it from growing in popularity, and values have followed suit. In 2020 alone, they soared by an impressive 8%, while they have jumped by nearly 10% since the start of 2021. That means that you will struggle to find a good car for under $42,000, while pristine examples will regularly sell for over $65,000. They still remain within the realm of affordable classics, but affordability seems to decrease with each passing day. That makes me wonder whether the bubble will eventually burst or whether Fox-Body values will continue to follow the 1st Generation Mustang into the stratosphere. That will always be an unknown in the classic car arena, so is this one that you might consider pursuing further?
Like the base cars better, but this is pretty nice.
Agreed. All those extra body pieces are just putting lipstick on a pig.
I’ve never been a fan of these Mustangs. To me they’re still 90s junk, no matter how much cladding or spoiler you slap on the body. They became nice again with the 2005 restyle. There is a ’68 Firebird on eBay (and here on Barn Finds) in all origiginal condition, with a 350 that makes more horsepower for almost exactly the same price. Guess which one I’d take?
That Firebird may be rated at more horsepower, but is significantly slower than this Cobra or even a manual equipped 86-93 5.0 LX or GT.
I don’t think the 83 Cobra is worth the premium they sell for over an LX, but I also don’t think most of the cars featured on this site are worth the asking price. However, in most cases cars featured on this site are not representative of what an industrious buyer with an open mind and a willingness to put in the effort can, find, if they are patient. There are always deals out there for those that put in the work, even in the early-80’s when I started looking for cars it was that way. There were always guys that kept scoring “deals”, it took time to figure out what they were doing and emulate their practices. It’s easy to forget, especially if someone isn’t out there grinding away, actively looking to purchase a car. The proof there are deals out there can be found on this site itself. I’d say close to 50% of the cars featured on this site are being flipped, many sellers have different cars featured time and time again, it’s not a fluke, they have figured out a way to find “deals”.
Steve R
The 1993 Cobra has always been regarded as a high-water mark for the long Fox Body run. It had (for its day) good performance, and I always liked the styling, the Teal ones being my favorites. Sounds like this one will be needing some miscellaneous work, not unexpected given its mileage.
Their prices say the market values them highly. The recent increase in values is noteworthy, thanks Adam for the data. Maybe there is a slowdown in rate of increase coming, but I doubt a bubble-burst is imminent.
I feel this article was written by someone who isn’t all that knowledgeable regarding fox bodies. The fox founds it’s mojo long before 93. By the mid 80s, the 5.0 GTs were running 14 second quarter miles. And the 79 5,0 was a 16 second car, not 18’s.
And to whoever said this car was all cladding, other than the taller spoiler, the 93 Cobra had more subtle cladding than the a comparable GT.
A friend of mine bought one exactly like this brand new in the spring of 1993. He only had it for about 6 months before his wife made him trade it in because she couldn’t drive a stick. The worst part is that she divorced him a year later because she “found someone else”. To this day, he says that he should’ve kept the car instead of the now ex-wife!