2004 Mustang Buyers Inspection Guide

Inspection Checklist

Body, Rust, And Structure

Inspect aprons, rails, core support, torque boxes, floors, trunk, convertible areas, and rear control-arm mounts, especially on drag-oriented GTs, Mach 1s, Bullitts, and Cobras.
IRS Cobras should show independent rear suspension, different exhaust routing, halfshafts, IRS cradle, differential cover, and wheel-hop wear evidence.
Convertible top hydraulics, quarter-window alignment, water intrusion, and rear glass bond remain important.

Powertrain

1999-2004 GTs use PI 4.6 two-valve engines; inspect plug threads, intake/crossover condition, exhaust manifold studs, timing noise, and tune/exhaust modifications.
1999 Cobra buyers should verify the Ford power-fix campaign; the intake, computer, and exhaust updates matter to value and performance.
2003-2004 Cobra buyers should inspect pulley/tune/fuel modifications, supercharger, intercooler pump, heat exchanger, head tick, T-56 behavior, IRS bushings, halfshafts, and differential leaks.

Special Models

2001 Bullitt should have unique side scoops, 17-inch Bullitt wheels, lowered/Tokico suspension, brushed fuel door, Bullitt badge, polished exhaust tips, frame rail connectors, and 13-inch Brembo front rotors.
2003-2004 Mach 1 should have shaker assembly, 4V engine, unique striping, wheels, retro seats/gauges, and VIN/body data that agree.
2004 Mystichrome Cobras and other rare Terminators should match SVT color/interior counts and paperwork.

Photo Clues

Cobra exhaust routes under IRS differently than solid-axle GT/Mach cars; live-axle-swapped Cobras or IRS-swapped GTs need documentation.

Bullitt photos should show the plain grille, Bullitt wheels, fuel door, dark trim, Brembo-size front brakes, and Bullitt-specific interior clues.

Mach 1 photos should show shaker, 4V engine, stripe package, wheels, interior, chin spoiler, and rear spoiler details.

VIN, Tag & Option Mismatch Checks

Bullitt, Mach 1, Cobra, and Saleen exterior parts are frequently cloned; treat photos as prompts for VIN, window sticker, SVT certificate, or registry checks.

A GT with Cobra bumper, IRS swap, or Terminator hood is not a Cobra without VIN and drivetrain support.

Known Buyer Risks

IRS wheel hop, pulley/tune history, 4.6 intake/cooling issues, plug-thread repairs, and TR-3650/T-56 shift behavior are high-value checks.
2001 Bullitt and 1999-2004 Cobra color counts are strong enough to catch some fake rarity stories.

Color & Interior Database

Use paint/interior codes as a screening tool, then verify individual cars from door labels, window stickers, Marti reports where available, SVT/Shelby/registry records, or Ford build data.

Code	Color / Trim	Model	Body	Units	Notes
G6	Mystichrome	SVT Cobra	-	1,010	Reported Mystichrome Cobra total: 515 coupes and 495 convertibles. Exclusive color-shifting paint for SVT Cobra (515 coupe, 167 convertible)
L5	Azure Blue Metallic	Mach 1	-	1,316	Exclusive to Mach 1
D3	Torch Red	All	-	Not published	Includes 1,259 Mach 1 and 644 Cobra units
UA	Ebony Black	All	-	Not published	Includes 1,064 Mach 1 and 1,212 Cobra units
CX	Dark Shadow Gray Metallic	All	-	Not published	Includes 1,039 Mach 1 and null Cobra units
CY	Competition Orange	All	-	Not published	Includes 1,039 Mach 1 and 409 Cobra units
D6	Screaming Yellow	All	-	Not published	Includes 768 Mach 1 and 371 Cobra units
Z1	Oxford White	All	-	Not published	Includes 697 Mach 1 and 525 Cobra units
YN	Silver Metallic	All	-	Not published	Includes 817 Cobra units
G2	Redfire Metallic	All	-	Not published	Includes 1,004 Cobra units
FX	Crimson Red Pearl	40th Anniversary	-	Not published	Exclusive to 40th Anniversary package
L2	True Blue Metallic	All	-	Not published	Paint code reference; exact production count not publicly verified.
SN	Sonic Blue Metallic	All	-	Not published	Paint code reference; exact production count not publicly verified.
J5	Dark Charcoal Leather	Base/GT/Cobra/Mach 1	Interior	Not published	Mach 1 features Comfortweave leather
JZ	Medium Parchment Leather	Base/GT/Cobra	Interior	Not published	Interior trim option; exact production count not publicly verified.
J6	Medium Graphite Leather	Base/GT	Interior	Not published	Interior trim option; exact production count not publicly verified.
G6	Mystichrome Leather	SVT Cobra	Interior	682	Color-shifting leather inserts (Mystichrome Cobra only)

Confidence: High (exact paint/trim counts included from Marti or SVT records) Breakout: Complete breakout available for this model year.

2004 Mustang Buyers Guide