1987 Ford Mustang Convertible

Gateway Classic Cars of Dallas is excited to offer this exceptionally desirable 1987 Ford Mustang GT 5.0 Convertible, an outstanding low-mile example of one of Fords most iconic performance cars of the 1980s. Showing just 24,000 miles, this Mustang combines the legendary 5.0-liter High Output V8 with a 5-speed manual transmission, Traction-Lok rear axle, classic GT styling, cold-blowing air conditioning, and an impressive collection of original documentation. Finished in Black with silver lower accents and the unmistakable red GT bodyside stripe, this is the kind of Fox-body Mustang that instantly takes you back to the golden era of American performance.

Under the hood is Fords legendary 302 cubic-inch 5.0-liter High Output V8, factory rated at 225 horsepower and 300 lb-ft of torque. The 5.0 became synonymous with the Fox-body Mustang and helped establish the GT as one of Americas most recognizable performance cars. Power is delivered through the desirable 5-speed manual transmission to the rear wheels, backed by a Traction-Lok rear axle. For enthusiasts, the combination of 5.0 V8 power and a manual transmission is exactly what makes these Mustangs so special.

The exterior wears the unmistakable GT-specific styling in Black with silver lower accents and the iconic red bodyside stripe. The combination gives this Mustang an unmistakable late-1980s performance presence. Additional features include the black convertible soft top, GT fog lights, fixed antenna, rear luggage rack, and 15-inch alloy wheels. The overall presentation captures the character of the Fox-body GT while maintaining the classic appearance that has made these cars increasingly collectible.

The 15-inch alloy wheels are wrapped in 225/60 BFGoodrich Radial T/A tires, providing a classic period-correct look and stance. The GTs Handling Suspension Package features variable-rate springs and the Quadra-Shock rear setup, while power-assisted rack-and-pinion steering and power-assisted front disc brakes round out the performance-oriented package.

Inside, the Mustang features a Medium Gray leather interior with articulated front sport seats, power lumbar support, and a matching rear bench. The driver-focused cockpit is centered around the factory two-spoke steering wheel and instrument cluster, featuring an 85-mph speedometer, tachometer with a 5,800-rpm redline, and gauges for coolant temperature, oil pressure, voltage, and fuel level. A Hurst shifter adds an unmistakable performance touch and complements the 5-speed manual transmission.

This Mustang was exceptionally well equipped from the factory. It was ordered with more than $2,000 in optional equipment, including the Custom Equipment Group and Special Value Group, adding desirable features such as an AM/FM/cassette stereo, cruise control, power windows, and power door locks. Additional equipment includes air conditioning, the Light Group, Luxury Sound Package, and power accessories. Best of all, the air conditioning blows cold, making this Fox-body just as enjoyable for Texas cruising as it is for weekend car shows.

Perhaps one of this Mustangs greatest attributes is its incredibly low 24,000-mile showing. Approximately 300 miles were added by the most recent owner after acquiring the car in 2025, leaving this GT with remarkably low mileage for a nearly 40-year-old performance car.

The documentation package is another standout feature and adds significant collector appeal. Included with the Mustang are the original window sticker, build sheet, owners manual, and clean Carfax report. The original window sticker documents the cars delivery to McCotter Ford of Titusville, Florida, along with its factory colors, equipment, and original total price of $18,237. Having the original window sticker and build documentation provides a valuable snapshot of exactly how this Mustang was configured when it left Ford, while the owners manual and supporting history help complete the story.

For collectors, documentation like this matters. A low-mile Fox-body GT is desirable on its own, but a low-mile example accompanied by its original factory documentation gives the next owner considerably more information about the cars history and original specification. It is the kind of detail that separates an interesting old Mustang from a genuinely well-documented example of an iconic model.

The 1987 model year represents an important chapter in Fox-body Mustang history, combining the updated GT styling with Fords legendary 5.0 High Output V8. These cars helped define the American performance-car scene throughout the 1980s and early 1990s, and today the best-preserved examples are increasingly sought after by enthusiasts and collectors.

With its 24,000-mile showing, 5.0 High Output V8, 5-speed manual transmission, Traction-Lok rear axle, GT suspension, leather sport interior, cold A/C, black convertible top, classic Black and Silver GT appearance, original window sticker, build sheet, owners manual, and supporting documentation, this Mustang offers an exceptional combination of performance, nostalgia, usability, and collector appeal.

Whether youre a lifelong Fox-body Mustang enthusiast, a collector of 1980s performance cars, or simply looking for an exciting classic that you can enjoy from behind the wheel, this 1987 Mustang GT 5.0 Convertible is an opportunity worth taking seriously. Drop the top, row through the gears, turn on the cold A/C, and enjoy the unmistakable character of Fords legendary 5.0-liter Mustang.

For more information or to schedule a viewing, contact Gateway Classic Cars of Dallas today. 817-310-9400 Dallas@GatewayClassicCars.com.