2003 Ford Mustang SVT Cobra convertible for sale with only 16,000 miles

If you’re into Ford’s supercharged muscle machines, this 2003 Mustang SVT Cobra convertible – better known in the community as the Terminator Cobra – is worth a look. Under the hood sits a supercharged 4.6-liter V8, paired with a six-speed manual and rear-wheel drive, all wrapped up in Ebony Clearcoat with a black soft top and contrasting interior. With just 16,000 miles showing, it’s a rare find. Right now, bidding sits at $15,000 on Bring a Trailer.

What It’s Worth Right Now

Classic.com puts the 1999-2004 Mustang SVT Cobra’s benchmark price at $32,328. Across 55 recorded sales, the average is $36,814, with transactions ranging from $8,300 to $175,067. The most recent recorded sale in the supplied data reached $41,000.

Keep in mind, those numbers cover the whole SN-99 Cobra lineup, not just the 2003 convertibles like this one. Still, they give us a ballpark. With only 16,000 miles, this car definitely stands out from the higher-mileage crowd – originality, condition, and body style all play a part, but low miles are always a plus.

That $15,000 bid is still below what these usually go for, but there’s time left on the clock. The low mileage and that sought-after powertrain could pull in more attention, though the aftermarket mods and open recall on the Carfax might give some buyers pause.

Condition and Details

On the outside, you get Ebony Clearcoat paint, a black power soft top, rear spoiler, and shiny 17-inch chrome five-spokes. There’s also an aftermarket styling bar, hood ducts, and some faux rear vents thrown in for good measure. The listing does mention a few rock chips up front – par for the course on a car that’s actually been driven.

Inside, you’ll find Dark Charcoal Nudo leather seats with Medium Parchment inserts and those unmistakable embroidered Cobra emblems. Creature comforts include articulated sport seats, a power driver’s seat, Mach 460 stereo with a six-disc CD changer (remember those?), air conditioning, cruise, and remote keyless entry.

Under the hood, you get the legendary supercharged 4.6-liter DOHC V8, good for 390 horsepower and 390 lb-ft of torque. There’s a cast-iron block, aluminum heads, forged internals, and an oil cooler to keep things in check. The Tremec T-56 six-speed manual sends power to the rear wheels via a limited-slip diff. The Carfax is clean for accidents, but there’s at least one open recall you’ll want to look into before pulling the trigger.

The Offer

Interested in this Mustang SVT Cobra? View the listing here.

What Makes the Mustang SVT Cobra Unique

The 2003 Mustang SVT Cobra – aka the Terminator – earned its reputation thanks to that supercharged 4.6-liter V8. With 390 horsepower and 390 lb-ft of torque straight from the factory, it was a real heavy hitter back in the day.

Throw in forced induction, a Tremec six-speed, independent rear suspension, and a limited-slip diff, and you’ve got a Mustang that stands out in the history books. The convertible top just adds to the fun.

Final Thoughts

What’s the draw here? For starters, this 2003 SVT Cobra convertible has just 16,000 miles and that all-important factory powertrain. The black-on-contrasting interior combo looks sharp, though the aftermarket bits might not be everyone’s cup of tea if you’re after a bone-stock example.

That $15,000 bid is just the starting line – where it ends up will depend on how much the auction crowd likes what they see, especially when it comes to condition and mods. If you’re hunting for a low-mileage Terminator Cobra with a stick, this one’s worth a closer look.

Disclaimer: This post is for informational purposes only. We are not a dealership or broker. All vehicle specifications, pricing, and availability are subject to change without notice. We are not responsible for typographical errors, omissions, or the accuracy of the provided information. Please verify all details directly with the seller.