Shelbys are, and always have been, about numbers: performance, horsepower, displacement, and yes, even production. This 2007 Shelby GT500 convertible continues the tradition, with lots of numbers in all those categories. Big horsepower? Check. Screaming performance? Check. Limited production? Check. In fact, this Tungsten Gray ragtop is one of only 151 manufactured in 2007, and overall is number 1435 out of only 2695 convertibles built, so no matter how you slice it, it's a pretty rare car.

2007 is also the first year for the reborn GT500, and they didn't hold back. With 500 horsepower on tap, Ford delivered on the GT500 legacy with a car that is fast, civilized, and became an instant collectable. If you didn't get one then, and we all know what happens to the first edition of any important vehicle, this is another chance.

With 25,000 miles on the clock, this isn't a factory fresh car, but you wouldn't know it just by looking at the body. The Tungsten Gray is a great choice for the GT500, because it will help keep you under the radar compared to its stripe-wearing red brothers. Yes, this is an unusual stripe-delete car, which is fairly uncommon among new Shelby owners—everyone who bought one wanted the full Shelby treatment. As a result, it's perhaps the most subtle 500 horsepower car we've ever featured, and I like that a lot. The finish is excellent, with obvious signs of expert care since it first hit the street. The nose hasn't been beaten up by stray gravel, the rockers are clean, and there are few signs that this car has done anything other than look pretty for the past four years. Things like the grille, with its coiled snake emblem offset to one side, and the rear end with its 1.5-inch tall SHELBY lettering, ensure that this Mustang isn't mistaken for anything else.

Under the hood, it's not like any other Mustang, drawing much of its mechanical DNA from the Ford GT supercar. The supercharged 5.4 liter V8 makes great muscle car sounds, and does it with surprising efficiency and a docile nature that makes it easy to drive under any conditions. Twist the key and the 5.4-liter V-8 rumbles to life, sending its bass notes down a 2.5-inch exhaust that features an X-pipe and dual tips. Goose the throttle and an Eaton M122 supercharger pumps 10 to 12 PSI into the combustion chambers, and the engine zings towards redline thanks to a lightweight dual disc clutch. The engine bay itself looks fairly stock, although that carbon fiber intake snorkel and open-element air cleaner are aftermarket parts that not only add power, but add to the aural symphony that is this engine, delivering a delightful intake howl that is directly controlled by your right foot. Other upgrades include a smaller supercharger pulley for some extra boost, a Borla cat-back exhaust system, and a few other goodies installed by Evolution Performance to the tune of almost $2500. If 500 horsepower isn't enough, this is the Shelby for you.

The chassis received extensive upgrades over the base Mustang GT as well, although the Shelby GT500 convertible is a little softer than the coupe. However, it's not likely you'll notice, because the 6-speed transmission is a delight to row through the gears, and the suspension still chews up pavement with the tenacity of a pit bull. Giant 14-inch front discs are clamped by 4-piston Brembo calipers, while 2-piston calipers work on the rear 12.4-in. discs, and things like ABS and traction control are, of course, included, and you're gonna need 'em if you use this car anywhere near its potential. Those beautiful alloy wheels were Shelby-only pieces, and wear massive 255/45/18 front and 285/40/18 rear Nitto performance tires.

Highly bolstered sport seats with a retro stitch pattern and Cobra logos fit like a glove. A leather-clad steering wheel with convenient thumb grips also sports a snake on its hub. The instrument panel is stock Mustang, and yet something's different-the tach is now on the right, closer to the shifter. The graphite faces with white lettering have a small SVT logo, which tips you off to the car's pedigree. That logo is also a programmable shift light, another thoughtful touch to go along with the aluminum-accented pedals and gearchange. Carroll Shelby has personally parked his posterior in the passenger's seat, seeing as he's signed the dash over there, although it seems that a Shelby NOT signed by Ol' Shel is a rarer thing these days. The seats show only moderate wear, and certainly it's appropriate to the mileage, with no visible damage. Everything works as it should, from the ice cold A/C to the powerful entertainment system, including Sirius satellite radio. Overhead, a black convertible top folds easily into the well with just the touch of a button, and there are not tears or other damage to the roof fabric.

Like Shelbys of yore, documentation is critical. Fortunately, this one includes all the important stuff, including the window sticker (showing an MSRP of $48,590), title, inspection labels, original invoice and order form, build sheets, sales forms, odometer disclosure statements, and even a letter from Ford talking about how the first GT500s will be allocated by a lottery system—these were hot properties when they debuted! It also comes with a complete set of manuals, certification from SVT, and a certificate of authenticity for the Carroll Shelby signature on the dash. The final tidbit is a receipt for all the additional performance parts installed by Evolution Performance, adding up to a substantial $2480, as well as a dyno sheet showing fairly impressive performance improvements.

There's no question these cars were instant collectables, and even today they're serious threats on the street. This one, with its subtle good looks and performance improvements, will have even Viper drivers checking their rear-view mirrors. Authenticity, pedigree, and performance are what make vintage Shelby's blue chip collectables today. In the future, those same things will make cars like this GT500 just as unique. Call us today!

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$299.00 Dealer Administrative Charge is not included in advertised price. All prices and offers are before state, city and county tax, tag, title and license fees. Out of state buyers are responsible for all state, county, city taxes and fees, as well as title/registration fees in the state that the vehicle will be registered. Dealer not responsible for errors and omissions; all offers subject to change without notice, please confirm listings with dealer.

Please note: Your vehicle may require Vehicle Identification Number (VIN) verification and/or safety and emissions inspections to transfer ownership and register the Vehicle in the declared State of residence. In most States, such requirements are dependent on the age of the vehicle which varies State by State. We recommend as part of the buying process that you check with your local DMV office to ensure compliance with your declared State of residence’s titling and registration requirements.

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2007 Ford Mustang GT500

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