Ford Motor Company has released prices for the 2007 Shelby Mustang GT500 for the Coupe and the Convertible models. The Shelby Mustang GT500 comes in at a suggested retail value of $40,930 while the convertible has a suggested retail value of $45,755. Along with the car comes the hefty $1,300 dollar gas guzzler tax. $40,930 dollars for 500HP of American muscle is not that bad of a deal when you compare the price of it’s rival, the Z06 Corvette which as an MSRP of $64,890 for 505HP. The base Corvette sells for $43,690 and only packs a measily 400hp.

Some options that will be available to choose from when you go to your order your brand new Shelby GT500 will be the GT500 Premium interior trim package which will cost you an extra $595, a Shaker 1000 audio system with 10 speakers and an in-dash 6 cd MP3 player for a price of $1295 and you will be able to tag on a Siruis Satellite Radio setup to your Shelby GT500 for a cool $195.

Many who saw the concept Shelby GT500 Mustang were slightly disappointed when Ford released the production model to the public earlier this year. Missing from the concept was the bold Shelby lettering that was previously in the center of the rear end which has now been shrunk down and moved to the driver side of the car. The tail lights were also slightly altered from the concept that Ford gave us.

The Shelby GT500 engine bay holds a 5.4l supercharged engine that pumps out 500hp and fits snuggly and I do mean snuggly inside the engine bay. This could make modifying your GT500 Mustang a bit hard on your hands and patience when the mod bug bites you.

Over all the car is a true masterpiece for the $40,000 dollar price tag. You will find yourself getting many stares as you cruise around town and find yourself having a hard time keeping your foot off floorboard.

Shelby Mustang Price Snapshot