When you set out to build a Mustang called the “GT500KR” you understand that you have some pretty big shoes to fill. In 2008, Ford decided that the standard GT500 wasn’t getting the job done and turned everything up to 11. That means an extra 40 horsepower (to 540), a lot of carbon fiber, improved suspension, and measurably more performance. Sticker price on the KR was $79,900, a whopping $30,000 more than a standard GT500 and only 1712 were built. If you like to drive, this is the Mustang to own—it’s no poser.

The GT500KR is easy to spot, thanks to an all-new (and fully functional) carbon fiber hood with twin snorkels that emulate the look of the original GT500KR and it shaves about 15 pounds off the nose to boot. Only 476 KRs were painted Silver with Vista Blue stripes, and it’s a refreshing change from the usual red, white, and blue Shelbys you see at shows. With only 9427 original miles, this one remains virtually as new and looks spectacular in person. The revised ride height makes the KR look less chunky than the regular GT500, aided by a deeper front air dam with splitter and a subtle tail spoiler. It sits right, looking nasty just sitting still, and I don’t think anyone at Ford was interested in making the KR subtle. This car has never been used as a daily driver and was always a fair-weather toy, and if it’s been wet more than a handful of times, I’d be surprised. Build quality is excellent, with doors that close with a solid THUNK and even the carbon fiber components fit beautifully, something that Ol’ Shel could only dream of in 1968. And in case you didn’t notice, 2008 was the 40th anniversary of the GT500KR so it’s festooned with a bunch of chrome badges advertising that special celebration. They did an awesome job of making this a special Mustang.

The interior isn’t much changed from the standard GT500, but that’s not a bad thing. The leather seats are incredibly comfortable and the Mustang’s driving position has always been great for driving fast. You get a chunky steering wheel wrapped in leather, a retro-looking 6-speed shifter with shorter throws than the regular GT500 and topped with a cue ball knob, as well as those big, easy-to-read gauges. There’s a special commemorative badge between the center A/C vents featuring Carroll’s signature as well as this car’s unique Shelby serial number: 08KR0342. Ford included a big entertainment screen in the center stack and just about everything was standard: A/C, power windows, locks, seats, and mirrors, cruise control, rear defrost, and more. You’ll note this one isn’t quite 100% stock, as it has an accessory armrest with Shelby GT500KR embroidery, which echoes the look of the ‘60s cars. There’s also a set of matching embroidered floor mats. And if you like Shelby signatures, there’s a pair on the headrests plus a real one on the dash. The back seats are actually usable by real people, although on this car it’s unlikely there’s ever been a human being back there, and the rather large trunk has a matching embroidered mat as well. The KR did not come with a spare tire in the interest of all-out performance, but the original inflator kit is still in place and unused.

Substantial revisions under the skin make the KR much more than a GT500 with some added boost. Yes, there’s more power complements of a remapped engine management system, those two nostrils force-feeding it cool air, and a few other tweaks. The 5.4 liter DOHC V8 makes 540 horsepower and a towering 510 pounds of torque, and until the most recent GT500, it was the most powerful Mustang ever built. We would argue that this is the purest of all Mustangs, too: brutal, direct, and notably free of electronics and other computerized nannies. The supercharger has a muted whir and with the big V8 exhaling through a revised exhaust system, it sounds downright threatening. It also likes to rev, pulling to the 6000+ RPM redline with ease and never seeming to run out of breath like the GT500, although with 510 pounds of torque on tap, you really don’t need spin it that hard. This one hasn’t been raced or abused and remains almost entirely stock save for a high-flow air cleaner from Ford Racing up front.

There are myriad changes underneath, too, starting with an upgraded clutch feeding the 6-speed manual gearbox. Out back, it now has 3.73 gears to make the most of the KR’s rev-happy nature, so there’s fairly significant acceleration available at any speed. The suspension was revised so it rides better than a GT500 but offers still substantial grip and like I said, it’s all about the driver with direct connections to the tire patches. Giant 14-inch Brembo brakes are immune to fade and pull this somewhat heavy Mustang down from speed without any stress. You’ll note that the underside looks almost new with zero signs of foul weather use or modifications, and even the assembly decals are still in place. The stainless exhaust is a work of art and you’ll note the upgraded trailing arms suspending the live axle, which is what gives the KR its fun, tail-out personality. Borla stainless mufflers give it a slightly deeper tone but it never gets annoying when you’re just cruising along. And those custom forged aluminum Alcoa wheels were custom-made just for the GT500KR and wears specially-formulated 255/45/18 front and 285/40/18 rear Goodyear rubber.

This car comes with a whole lot of extras, too. All the manuals, of course, are included. We also have both window stickers: the one from Ford and the one from Shelby, adding up to a staggering $82,185. It includes a full set of GT500KR promotional materials, press releases, and CD-ROMs, plus a certificate of authenticity from Shelby American. It has been maintained as needed, and we have the receipts for that. And then there’s the remarkable cache of NOS parts, all still in their Shelby boxes: air filter housings, stripe kits, spoiler, and more (we don’t know what all of it is simply because we didn’t want to open all the boxes). There’s also a spare set of black leather seat covers, just in case you ever wear these out. And, of course, the Shelby car cover that came with the car. Incredible!

If there’s a late-model Shelby that’s going to be collectable in the future, it’s the GT500KR. Limited production, more power, better handling, what’s not to love? This particular car, with its stunning color combination, long list of documentation, and extra parts, brings so much more to the table. And we’re still of the opinion that these were the last true Mustangs, with modern cars becoming almost too civilized and sophisticated for their own good. For that old school Mustang experience, this gorgeous GT500KR just nails it. Call today!

Harwood Motors always recommends and welcomes personal or professional inspections of any vehicle in our inventory prior to purchase.