A vibrant Canary Yellow 1998 Ford Mustang SVT Cobra Convertible with just 27,400 miles on the clock has surfaced for sale on Hagerty Marketplace, giving collectors a rare shot at one of Ford's most focused factory performance drop-tops from the 1990s.
When Ford's Special Vehicle Team introduced the redesigned Cobra for the 1996 model year, it left the old pushrod 5.0-liter behind in favor of an all-new 4.6-liter modular V8. Hand-built by a pair of technicians at the Romeo, Michigan engine plant, the aluminum-block motor combined dual overhead cams, four valves per cylinder, and forged internals to produce 305 horsepower and 300 lb-ft of torque, revving out to a lofty 6,800 rpm. SVT backed up that output with upgraded steering, a retuned suspension, and bigger brakes, turning the Cobra into a genuine driver's car rather than just a dressed-up Mustang.
This particular example wears its factory Canary Yellow paint over black leather sport seats and a matching black convertible top, and it's one of an estimated 3,780 SVT Cobra convertibles built for the 1998 model year. The car rides on 1998-only chromed Cobra R-style wheels and a set of aftermarket lowering springs, with the original stock springs included in the sale for buyers who prefer factory ride height. A roll bar, cold air intake, and the coveted Electronics and Leather Trim Group round out the build, the latter bringing power lumbar support and a Mach 460 CD sound system to the cabin.
According to the listing, the Cobra was first sold new in Virginia Beach, Virginia, before racking up registrations across Texas, Colorado, Pennsylvania, Arizona, and New Jersey, where it now resides with dealer Vantage Auto. Recent service includes a new battery, oil pan gasket, fresh oil and filter, and four new tires, all completed this past March. The car also comes with a clean CARFAX report and a clean New Jersey title, easing some of the usual worries that come with buying a 27-year-old convertible sight unseen.
Bidding on this 1998 Mustang SVT Cobra Convertible is active now over on Hagerty Marketplace, where the high bid has already climbed past $7,500 with days still left on the clock. For the full photo gallery, service records, and to place a bid, head over to the original listing on Hagerty Marketplace.