Ford Mustang 1996 $7,999

Ford's Mustang was the first of a new breed of factory hot rod — the "pony car" — when it was launched back in 1964, and during the decades that followed it's stuck largely to the same genetic coding: high performance, low tech and low cost. , , With a simple rear-drive chassis borrowed from a sedan and lots of components borrowed from other Ford vehicle lines, the Mustang has always been relatively cheap to produce, delivering lots of performance at bargain prices. , , However, in terms of maximum performance, the Mustang's formula has, in recent years, fallen behind the pace set by GM's Camaro-Firebird twins. Ford's durable old 5.0-liter V-8 simply didn't match the muscle of GM's 5.7-liter V-8, which bristles with torque and horsepower. , , So for 1996, Ford answers the challenge with a new engine. The overhead valve 5.0-liter has been replaced with Ford's much more sophisticated 4.6-liter V-8, an engine with better volumetric efficiency as well as better emissions performance. The Mustang GT receives the single overhead-cam version, similar to the engine used in the Ford Crown Victoria and Lincoln Town Car. With 215 hp and 285 lb-ft of torque, it delivers roughly the same performance as the old 5.0-liter. , , But if sizzling go-power is the objective, Ford now has an answer for the Camaro Z28 and Firebird Trans Am. The new Mustang Cobra has the dual overhead cam, 32-valve version of the 4.6-liter V-8, and in Cobra tune it throbs with 305 hp and 300 lb-ft or torque. , , With lots of V-8 power driving the rear wheels and a number of suspension revisions, the Mustang Cobra can gallop stride for stride with its GM rivals, whether the road ahead is straight or twisty. , , Since the Cobra represents the best of what's new about the Mustang, it was our choice for this test., , Walkaround, , The Mustang lineup includes three models. At the entry end is the basic Mustang, powered by a 3.8-liter V-6 that provides good torque and satisfactory performance for those who want Mustang style but aren't obsessed with 0-to-60 mph times. , , Each model level is available as a coupe or convertible. If you like fresh air motoring, the Mustang convertible has higher quality than most. It's remarkably free of rattles, the top mechanism works very well, it includes a glass rear window and the top boot cover is easy to install, fits neatly and is nearly flush. , , However, if you're interested in extracting the last ounce of performance, coupe versions are a better bet — better body rigidity and about 200 pounds less curb weight. Because of the extra structure needed to compensate for the absence of a steel top, convertibles invariably weigh more than their coupe counterparts. , , There aren't many options for the Cobra, which is well equipped as is. Our test car was fitted with Preferred Equipment Package 250A ($1335), which included an anti-theft system, leather seats and a premium AM/FM/CD/cassette sound system. The only other available option is Mystic Clearcoat Metallic paint, an irridescent finish that seems to change color depending on viewing and/or light angles. Ford thinks this is very snazzy indeed; we don't agree, particularly for $815. , , The functional standard equipment list for the Cobra includes antilock brakes, limited-slip differential and 17-inch aluminum alloy wheels mounting 245/45ZR-17 high performance tires. The transmission is a five-speed manual, natch, and there's no automatic transmission option. , , Like the rest of the running gear, the huge brakes — 13.0-inch vented rotors up front, 11.65-inchers at the rear — are designed for high performance. , , The Cobra also has different suspension tuning, including a slightly smaller front antiroll bar and a slightly larger bar in the rear, a combination designed to reduce understeer — the tendency for the car to go straight in hard cornering. , , One thing the Cobra isn't is cheap. Base price for this model is $24,810. Our test car was $26,270. Add destination, taxes and lice

• 2 Door
• 2 Wheel Drive
• Manual Transmission