Think back to when you were just 18 years old – what was your dream car? If you said a 2003 Mustang Cobra, then you just might have good taste in cars like our friend Peter Lally, the owner of this Mineral Grey ’03 Terminator. But regardless of age, like Peter, many of Blue Oval enthusiasts like ourselves dream of owning one of these rare Mustangs – and for good reason.

The ’03-’04 Cobras are still coveted as one of the most badass Mustangs ever to leave Michigan. And, to this day, one that still commands a high-dollar figure in the used car market. In the case of Peter and his ’03 Cobra, he was lucky enough to receive this Mustang as his first car – how cool is that?

Images courtesy of Peter Lally.

Images courtesy of Peter Lally.

Even Matt Farah, the host of The Smoking Tire’s “One Take” YouTube video series, can’t help but agree that the ’03-’04 Cobras are a great investment if you’re looking for something with plenty of potential. As Peter and Matt point out in the video above, what the Cobra may lack in comfort, surely makes up for in performance-per-dollar.

Furthermore, a 4.6-liter DOHC supercharged Four-Valve V8, paired to a Tremec six-speed manual transmission and a factory independent rear suspension, surely makes for one heck of a fun car whether you’re on the street or at a track. Looking for more info on Peter’s ’03 Cobra? Checkout the video above, or head over to his Wheelwell page here.