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EDIT: Decided to stick to 99/01's for now and will cover the rest later
I could go into most of the Mustangs from 96-04 but I know the New Edge Cobra's best so I will stick to them. All the non motor and IRS watch out for's are the same for all GT's and V6's as well. The 03/04 Terminator is another animal and needs its own thread.
New Edge Cobra's are the 99 and 01 model years and the prices range from around $7,000 - $20,000 depending on what has been done, miles and so on.
OK so I guess I will answer the bug question first. Why I like these cars so much? Its a very simple answer, they are easy to work on and anything you could want to do is possible. Everything from a procharger to 2jz swap has been done and whatever else you can just about imagine in between. As with all Mustangs there is a huge aftermarket for these and anything you can think of is most likely out there for it.
What makes the New Edge Cobra's different is the 4.6 DOHC it is the same basic motor as the 96-98 but with better heads and intake. the New Edge has the best weight balance of all the Cobras at 54/46 but with minimal work can be at 50/50 which makes them desirable for auto-x and track day enthusiasts.
The motor is an Aluminum teksid or WAP block both will handle more than most people will ever throw at them with the Tekisd know to go well over 1200 RWHP before suffering damage. The Teksid can be identified by squares in the valley under the intake manifold where the WAP has diamonds. One thing people have noticed from all the 4v cars is the timing can vary and can be a good bit off of the correct settings adjusting the timing will make the car run better and make the power it should.
Staring in 1999 all the SVT Cobra's had an independent rear suspension this was a big step up in overall performance for the Cobra but it really was a Frankenstein unit that was put in a chassis it wasn't designed for and between the incorrect subframe bolts and rubber bushings it is less than optimal but can be easily remedied. Wheel hop and the IRS is a big issue and here is a great thread on it in its entirety with several ways to fix it and improve it.
The single biggest problem with the 99/01 along with all other mustangs is the unibody. Subframe connectors are the one thing that will improve the chassis.
All Cobra's had the two piston PBR calipers with Cobra on the outer face with 13" rotors up front while an upgrade from the GT's and V6's they can still benefit from better fluid and better pads.
The 99 Cobra and 2001 Cobra have completely different interiors the 99 shares everything with the GT except for the white faced SVT gauge cluster. the 2001 got an upgraded interior including the leather and alcantera seats, more soft touch plastics and upgraded double din dash and center console.
99 Top 2001 bottom
The 99's had a model wide recall on them after customers complained about power issues and they found the intake manifold runners were causing a major choke and the exhaust was pinching and causing major power losses. Cars with the fix have a green or black dot on the intake manifolds as well as a modification sticker next to the passenger side headlight.
Because of this there was no 2000 Cobra just the Cobra R..... If you want more info on these let me know and I will go into great detail on them for you.
As with most cars maintenance is the key factor in how long they will last, mine is closing in on 200,000 miles so they are not as unreliable as everyone thinks. Oil is the biggest topic since SVT for EPA reasons in 2001 went from 5w30 to 5w20 it is recommended to run the 5w30 for best results. The IRS cover is notorious for leaking after 50,000 miles and should be inspected regularly. Outside of those just make sure the oil is changed and and fluids are full and you will be good to go.
I will add more as I go an remember and I'm sure Tyler can add a lot.
Last edited by 98_undertaker; 03-05-2015 at 22:55.
Thank you sir