This fourth-gen Mustang SVT Cobra is finished in the eye-catching Mystic Clearcoat Metallic—a color that’s anything but ordinary—paired with a black interior and a proper five-speed manual. With about 68,900 miles on the clock, it’s got Ford’s 4.6-liter V8 under the hood, good for 305 horsepower and 300 lb-ft of torque. It’s up for grabs on Cars & Bids with no reserve, so someone’s about to score a pretty intriguing SN95 Cobra. Sure, it’s got some maintenance history and a few cosmetic blemishes, but the original SVT spec and that wild paint job make it a car worth checking out.
Cars & Bids
What It’s Worth Right Now
Classic.com puts the 1994-1998 Mustang SVT Cobra market at a benchmark of $18,241, with average sales around $19,600 and prices all over the map—from as low as $3,950 to a wild $66,000. The latest sale hit $26,500. Keep in mind, these numbers cover the whole SN95 Cobra family, not just the 1996s, so take them as a ballpark rather than gospel for this specific car.
A quick look at current listings shows just how much mileage and condition matter. One 1996 Cobra with about 10,000 miles is up for $29,950, another with 33,000 miles wants $30,394, and if you want to go full unicorn, there’s a 4,000-mile example asking a hefty $56,125. Of course, these are just asking prices, not what people are actually paying, but it’s clear that low-mileage, well-kept cars command a serious premium.
Cars & Bids
Given the nearly 69,000 miles, the bodywork history, and a few cosmetic scars, this one sits below the top-dollar, low-mileage Cobras. I’d peg fair value somewhere in the $14,000 to $20,000 range, assuming everything checks out mechanically and the history is clean. Right now, the bid sits at $7,777 with days to go, so there’s still plenty of room for things to get interesting.
Condition and Details
The real draw here is the factory spec: Mystic Clearcoat Metallic outside, black inside, 17-inch wheels, Traction-Lok axle, rear spoiler, leather seats, sport buckets up front, split-folding rears, and a Mach 460 sound system. Under the hood, you get the 4.6-liter V8 with 305 horsepower and 300 lb-ft, all going to the rear wheels through a five-speed manual. The seller says it’s been a Western states car since new, and the only mod is an aftermarket rear sway bar.
Cars & Bids
It’s not all sunshine, though. The seller says the passenger-side quarter panel took a hit and was repaired by a previous owner, but Carfax shows no accidents. Other quirks: chips, scratches, touch-ups, cracking clearcoat, hood stains, a few dings, some interior wear, and torn hood insulation. The tires are from 2017 and 2020, so they’re not exactly fresh either—something to keep in mind.
Cars & Bids
Maintenance-wise, the clutch and transmission got attention in March 2023 at 68,427 miles, and then again in December 2024 at 68,604 miles—just 177 miles apart. Wheel bearings or hubs were swapped out in February 2024. The seller says the clutch was replaced before the bearing needed work, but it’s probably worth digging deeper. You get one key, a fob, the owner’s manual, window sticker, certificate of authenticity, and a spare tire with the sale.
Cars & Bids
The Offer
| Specification | Detail |
| Make | Ford |
| Model | Mustang SVT Cobra Coupe (SN95) |
| Year | 1996 |
| Mileage | 68,900 miles |
| Engine | 4.6-liter V8 |
| Power | 305 horsepower, 300 lb-ft |
| Transmission | Five-speed manual |
| Drive type | Rear-wheel drive |
| Exterior color | Mystic Clearcoat Metallic |
| Interior color | Black |
Interested in this Mustang SVT Cobra? View the listing here.
What Makes the Mustang SVT Cobra Unique
The SN95 Mustang SVT Cobra is a cool slice of Ford performance history. When it landed for 1994, the fourth-gen Mustang ditched the old Fox-body for a fresher look, better handling, and a new interior. The SVT Cobra was the top dog, getting a hotter V8 and special go-fast bits from Ford’s Special Vehicle Team.
Cars & Bids
The 1996 Cobra stands out for swapping the old 5.0-liter for a 4.6-liter V8, cranking out 305 horsepower and 300 lb-ft. Rear-wheel drive and a five-speed manual keep things classic. What really sets this one apart, though, is that Mystic Clearcoat Metallic paint—a factory color that’s anything but ordinary and makes this Cobra pop among the usual SN95 crowd.
Final Thoughts
This 1996 Mustang SVT Cobra has a lot going for it: original performance spec, a manual gearbox, and that wild exterior color. Nearly 69,000 miles isn’t super low for a collectible, and the quarter-panel repair, cosmetic issues, and repeat clutch and transmission work are things you’ll want to look into before getting too serious.
With the bid at $7,777, there’s still plenty of runway for the price to climb. I’d treat this one as a solid driver rather than a museum piece, and figure fair value is in the $14,000 to $20,000 range—assuming it checks out mechanically and the history is clean. If you want an SN95 Cobra without dropping collector-level cash, this could be your shot.
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.
About the author
Jacob Oliva
Senior Editor, Autoblog