At $7,950, Would You Horse Around With This 1998 Ford Mustang GT?

With its automatic transmission and convertible top, today’s Nice Price or No Dice Mustang is built for weekend road trips rather than acts of aggression on the gymkhana. That’s definitely not a bad thing, but is its price?

The Mustang Mach-E Rally Revealed

We’ve had quite a run of No Dice losses of late, and at $9,000, the 1975 Suzuki RE5 Wankel motorcycle we looked at yesterday continued that trend. A unique and clean presentation couldn’t overcome that niggling feeling that it just shouldn’t cost so much, pushing our streak to another day with a 67 percent thumb’s down vote. Let’s see if things go differently today.

You are no doubt familiar with the old maxim that the only certainties in life are the inevitabilities of death and taxes. I happen to think that list is incomplete. In my mind, an equal certainty is that there’s a Mustang to fit any and everyone’s bank account and particular needs. We’ve all long averred that “the Miata is the answer” to any automotive quandary, but is it really?

Being a two-seater and limited to four-cylinder power unless heavily modified, the Mazda roadster is actually fairly limited in its scope when you think about it. The Mustang, on the other hand, is like the Swiss Army Knife of the car world, offering everything from classic racer or sedate driver, to cars & coffee exiting terror.

Let’s take a look at this 1998 Mustang GT convertible and see where it fits in the picture.

The SN95 Mustang debuted in late 1993 as a heavily massaged and restyled evolution of the long-running Foxbody ’Stang. The revision focused on the earlier car’s shortcomings, addressing improvements in braking, handling, and overall polish. The styling went heavily retro, and halfway through the model run, Ford dumped the evergreen pushrod 5.0 V8 for a new 4.6-liter SOHC (and later DOHC) Modular V8. At 225 horsepower, the new engine matched the old motor’s power but offered more headroom for future growth. Versions of this engine are still built to this day.

This GT has the 4.6 and a four-speed 4R70W automatic driving its live and lively rear axle. Wrapped around that is a seemingly clean and tidy convertible body wearing Deep Forest Green paint and a biscuit canvas top. Under that sits a set of 16-inch factory alloys wearing tires of undisclosed age and use.

Overall, the car appears only lightly used. It shows 109,000 miles on the clock and no appreciable wear and tear on the completely stock and leather-surfaced interior. The dash even has the original AM/FM/cassette head unit with a separate CD player for that chef’s kiss of old-school charm.

On the downside, the cabin’s arched eyebrow dash and overall build quality don’t translate well to modern aesthetics. Neither, however, is too egregious. According to the dealer selling the car, it has a clean title and an accident-free history. The ad says that the car enjoyed a recent service but doesn’t go into detail as to what that encompassed. Everything does seem to be in working order and we do see the top in both positions so that seems functional.

Summer is right around the corner and what better way to spend it than in a cool and comfortable convertible? The only question is whether it would take a second summer job to afford one. This Mustang has a $7,950 asking price and it’s now time for us to put our heads together to see if that makes it a true bargain or just another in our string of losers.