The SN95 Ford Mustang is still quite the unsung hero in the company’s lineup of limited-production muscle cars. To this day, values remain – in my opinion – somewhat soft, representing excellent value if you’re looking for a special muscle car that won’t break the bank. Even better is that you can buy a genuinely nice example like this 1997 Cobra convertible listed here on craigslist with the preferred manual gearbox for well under $20,000. This car is offered for $16,495 with just over 56,000 miles on the clock. Thanks to Barn Finds reader Mitchell G. for sending this tip along.
The SN95 Mustang in general is still cheap-as-chips to buy, no doubt helped by generous production numbers and coming along after one of the most well-loved generations of the classic muscle car. In 1996, the Cobra underwent significant changes with the introduction of the new aluminum 4.6L DOHC V8, a quantum leap compared to the aging 302 that it replaced. From smoother power delivery to slightly improved efficiency, it was a much different driving experience, amplified by a 6, 800 RPM redline. The 0-60 times were safely under 6 seconds, and the quarter mile blitzed by in under 14.
The interiors were also a nice upgrade over the outgoing Fox body generations, with leather seating surfaces, nicely bolstered bucket seats, upgraded audio systems, and an attractive two-tone dash design. I’m always impressed by how good these interiors still look in well-maintained examples such as this; they appear to be decently durable when the car isn’t trashed. The seller’s car presents well, with Cobra floor mats reminding you that this is not your run-of-the-mill Mustang. The fact that it’s a convertible doesn’t appear to have led to rampant sun damage on the interior surfaces.
The “Romeo” engines were hand-built and adorned with a special plaque to let you know this Cobra was assembled with care. The seller notes his example is fully serviced with a paper trail of dealer maintenance to back it up. Modifications are sensible with the listing noting a catback exhaust with polished Flowmaster mufflers and upgraded rubber; otherwise, it remains bone-stock, which is always nice to see in the world of heavily-modified Mustangs. This is a bargain for a car with still-respectable performance, decent pedigree, and limited-production status. Buy one now before prices go up!
Agree w Lavery. Very good looking buy. Believe these were the 1st Mustangs with IRS .. I could be wrong though. 🤔
Has all the go fast goodies from the Ford factory. And creature comforts. Great cars.
No Mustang Cobra with IRS until the ’99, which had the “New Edge” variant of this body style.
Thanks Vance 👍
I agree with your write-up Jeff. These Cobras were a pretty good package, yet they typically trade for not-high dollars. This one looks like a nice example. If it was triple black and had the original wheels, I’d be thinking about my bank account, lack of storage space, etc. …. you know what I mean.
I’ve been wondering when the nice Foxes start pricing themselves out of the market, and these SN-95’s start taking their place.
The SN95 is to the Mustang what the C4 is to the Corvette. A lot of technological merit but not a lot of collectors interest or respect. Unfortunately, I don’t see that changing. Fortunately, this is an affordable way to get a nice older performance car for cheap.
Ford did this engine right by massaging the intake and exhaust from the Mark Lincoln version. Many wrecks of this era had their engines cannibalized for the intake manifold. It added a pop to the Mark VIII that was easily detectable by the butt dyno. I think this was rated at 305 hp. This will have a new home shortly.
All 1997 Cobras came with the 5-speed manual. The rear spoiler was a $320 option. I ordered my 1997 Cobra back in ’96 and the dealer told me that the spoiler was standard, even though I used a newfangled thing called the Internet to show him otherwise. Signed the contract and didn’t pay the $320.
My Pacific Green Cobra is all stock, great seat height, performs well, and has roughly 1.600 miles on it. I was deployed with it came in and never had time to really drive it a lot.
This Pony screams collector car. This is a chance to acquire an excellent future collectable at a good price and it’s a drop top too. I could see this going up in value properly maintained. Lovely car.