The relationship between Shelby American and Hertz Rent-A-Car is well-documented, and I don’t think we have to go through it here. However, it’s that very relationship that led to the creation of this 2007 Shelby GT-H convertible, of which 500 were built just for Hertz. Steeped in tradition and with more than a passing resemblance to the original Rent-A-Racer, it is one of the strongest modern links to the glory days of Shelby-modified Mustangs. It’s full of clever details to both improve its performance today and tie it back to those original GT350H cars built in 1966, making it the ideal choice for someone who wants a genuine Shelby with a wonderful story to tell, all at a bargain price.

Shelby did a run of 500 fastbacks in 2006 and a run of 500 convertibles in 2007, of which this is serial number 088. Hertz took possession of all 500 cars for their “Fun Collection” in select cities across the US. They were contractually obligated to put them into rental service for a year, after which they were auctioned and purchased by private owners. The first one sold for more than $200,000, with most of the others going for between $40,000 and $60,000, depending on mileage. This one was sold with approximately 22,000 miles on the clock and today shows just 33,691 miles and remains completely original except for tires and battery.

The Shelby GT-H models only came in black with gold stripes, just like the original 1966 version, making them some of the most iconic and recognizable of all high-performance Mustangs. Ford delivered black ragtops to Shelby’s Las Vegas facility for the upgrades and this is among the very last cars that Carroll Shelby himself developed before his passing. Finish quality is quite impressive, but then again, for a car with an original sticker price of more than $55,000, that shouldn’t be a surprise. Exterior upgrades include a special hood with locking pins, a billet grille with offset Mustang emblem, just like the original GT350, and a deeper chin spoiler with fog lights and cooling ducts for the front brakes, plus the side scoops on the quarters. Of course, the gold stripes, rear wing, and SHELBY block letters on the trunk were added, but nobody really needs to be reminded what kind of car this is. And as a result of it spending 90% of its life as a cherished collector’s item, it remains in exemplary condition. The paint shines up beautifully, there are no critical dings or signs of neglect, and even as a rental, it seems that buyers took the care of this Shelby seriously. It is not perfect, of course, but it looks exactly the way you’d expect a low-mileage, high-dollar collectable to look.

The interior received its share of upgrades as well, starting the moment you open the door with special aluminum Shelby GT-H step plates with the car’s serial number engraved on their faces, and including the special light bar that looks like the original GT350’s roll hoop. Everything was standard on the GT-H, including cold A/C, power windows, locks, mirrors, and seats, leather upholstery, cruise control, and a robust Shaker 500 AM/FM/CD stereo system. And before you complain about the automatic shifter in the center console, bear in mind that most of the original Shelby GT350H cars were also automatics—a necessary piece of being a rental vehicle. In short, the automatic transmission IS the whole point here. The gauges are beautiful throwbacks to the ‘60s and Ol’ Shel himself put his signature on the plate in the center of the dash (and yes, it’s actually signed, not printed with the rest of the plate). Everything works, of course, including the black canvas power top, which stows itself in seconds and folds itself in such a way that the removable boot is completely optional. There’s even a reasonably-sized trunk that can carry your luggage for a fantastic performance-oriented road trip.

Most of the GT-H improvements are under the skin, making this much more than a Mustang GT with some special stripes. Shelby balanced performance and reliability with this combination, adding a 90mm cold air intake, special mufflers and X-pipe, and a custom calibration on the ECM to make it easy to drive (rental, remember!). None of that compromises reliability or the bulletproof nature of Ford’s 4.6 liter OHC V8, which stomps out a very entertaining 325 horsepower and 320 pounds of torque with the most wonderful V8 soundtrack this side of Lagua Seca. The engine bay is further dressed up with a custom strut tower brace that makes a noticeable difference in front-end rigidity.

But perhaps the most wonderful detail of all is that little wire wrapped around the passenger’s shock tower and attached to the engine. You might recall stories about the original GT350H “Rent-A-Racer” Mustangs being rented, their engines removed, and the cars returned with garden-variety 289s under the hood. Whether that ever happened is probably more folklore than reality, but clearly Shelby designers had some fun with this new GT-H, because that security wire is intended to discourage that kind of nonsense. Nobody’s stealing Ford 4.6 engines today, but it’s a nice nod to history that only the truly dedicated fans will recognize and enjoy.

A quick-witted 5-speed automatic transmission was the only option in the GT-H, but you won’t suffer for it, as this sucker is also equipped with a Ford Motorsports 3.55 rear gearset to get it off the line with authority. The suspension is lowered 1.5 inches compared to a standard GT and uses the Ford Racing Handling Pack (FR3), which includes custom dampers, sway bars, and the aforementioned strut tower brace. 4-wheel disc brakes were standard and are plenty powerful for the GT-H, although the Shelbys did receive custom silver paint to make them stand out a bit. The undercarriage on this car shows about 33,000 miles worth of road grime, but exactly zero time in the snow and salt, so it is extremely clean and solid with no issues at all. All the original decals, markings, and other little things that detail-oriented Shelby fans expect are still intact. It has never been wrecked, raced, or otherwise modified, and it drives like a new car with a tightness that you might not expect from a 11-year-old ragtop. The GT-H sits on special 18-inch wheels that look very much like vintage Torque Thrusts, and they’re wrapped in 235/40/18 performance radials, perhaps only the second set of tires this car has ever worn.

This is a shockingly affordable piece of Shelby history and if the original GT350H is any indicator, its day will come. GT500s are a dime a dozen, but this is a genuine limited-production car with an awesome story to tell, and that’s what makes some cars more special than others. That, plus the fact that it’s just a blast to drive. We can’t remember the last time we had this much fun behind the wheel of a late-model car, and that says a great deal about how special this Mustang truly is. Call today!