1999 Ford Mustang SVT Cobra Convertible — Rio Red, 4.6L DOHC, Tremec 5-Speed, 66K Miles Why This Car Is Special The 1999 Ford Mustang SVT Cobra Convertible sits at an interesting crossroads in Mustang history. Ford's Special Vehicle Team had been developing the Cobra nameplate since 1993, but by 1999 the formula had matured into something genuinely well-rounded — a hand-assembled performance car that offered real chassis sophistication, not just a bigger engine. The 1999 model year was also notable because SVT addressed the well-documented horsepower shortfall of the 1996-1998 Cobras by fitting an all-new DOHC 4.6-liter with revised cylinder heads, larger intake ports, and a more aggressive cam profile.

Ford rated the engine at 320 horsepower and 317 lb-ft of torque, and independent testing generally confirmed those numbers were honest. What made the 1999 SVT Cobra genuinely different from a standard Mustang GT of the same era wasn't just the engine. SVT equipped the Cobra with a fully independent rear suspension — a first for a production Mustang — replacing the live axle that had been a fixture on the model since 1964.

That IRS setup, combined with Brembo-supplied four-wheel disc brakes and a 3.27:1 Traction-Lok limited-slip differential, gave the 1999 Cobra handling characteristics that no GT could match from the factory. It was a purpose-built performance package developed by a group of Ford engineers who actually cared about the car's behavior in corners, not just its quarter-mile time. The convertible body style adds another layer of desirability.

SVT produced the 1999 Mustang SVT Cobra Convertible in relatively limited numbers compared to the coupe, and the combination of the open top with the full performance drivetrain made for a car that worked as both a daily driver and a weekend car without compromise. This particular example shows 66,818 miles on the odometer — honest, usable mileage on a 26-year-old car that suggests it was driven and enjoyed rather than stored and neglected. The VIN on this car decodes to confirm it is a genuine Cobra convertible built at the Dearborn Assembly plant, and the hand-built Romeo engine plaque under the hood is present — a detail SVT included on every Cobra to acknowledge the individual assembly process that set these engines apart from the standard production line 4.6-liter units.

Features List - 4.6L DOHC 32-Valve V8 — 320 HP / 317 lb-ft Torque - Hand-Built Romeo Engine Plaque - Tremec T45 5-Speed Manual Transmission - SVT Cobra Badging - Independent Rear Suspension - Traction-Lok Limited-Slip Differential - Brembo 4-Wheel Disc Brakes with 4-Wheel ABS - Traction Control - SVT 17-Inch Wheels - Dual Exhaust - Power Convertible Top - Tan Cloth Convertible Top - Rio Red Exterior - Tan Perforated Leather Interior - Leather-Wrapped Cobra Steering Wheel with Tilt Adjustment - Power Driver Seat - Mach 460 Audio System - Cobra-Embroidered Floor Mats - Power Windows, Locks, and Mirrors - Keyless Entry - Cruise Control - Air Conditioning - Rear Window Defroster - Front Fog Lights - Rear Spoiler - Dual Front Airbags - Tachometer Mechanical The 4.6-liter DOHC 32-valve V8 in this 1999 Ford Mustang SVT Cobra is the heart of what makes this car worth owning. It is not the same engine you'd find in a contemporary Mustang GT. SVT sourced these engines from the Romeo, Michigan engine plant, where they were assembled by hand rather than run through an automated production line.

Each engine received a numbered plaque signed by the technician who built it — that plaque is present on this car. The engine produced 320 horsepower at 6,000 RPM and 317 lb-ft of torque at 4,750 RPM in stock form. The revised cylinder heads used on the 1999 model year cars flowed significantly better than the units used in earlier fourth-generation Cobras, and the result was an engine that pulled strongly throughout the rev range rather than coming on strong only at the top.

Power routes through a Tremec T45 5-
Trim: 2dr Convertible SVT Cobra
Options: Air Conditioning, Climate Control, Power Steering, Power Windows, Power Mirrors, Leather Steering Wheel, Power Drivers Seat, Tachometer, Tilt Steering Wheel, Driver Airbag, Passenger Airbag, Keyless Entry, ABS Brakes, Rear Defogger, Fog Lights, Intermittent Wipers, AM/FM, Cassette, CD Player, Anti-Theft, Cup Holders, Premium Sound, Remote Trunk Lid, Sport Seats, Vanity Mirrors