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Saleen-izing a '03 Cobra took a slightly different approach than producing the standard S281. Some Cobras were shipped directly from the Dearborn Assembly Plant to Saleen, while others were pulled from dealer showrooms and sent to Saleen for conversion. Since all other Saleens used the "stick axle" rear suspension of the standard Mustang, special rear springs and shocks were developed for the Cobra's independent rear suspension. While most Saleens were characterized by the plethora of Saleen-logoed equipment, many Saleen-specific parts were conspicuously absent on S281-Cs: the seats, brakes, and gauge faces were standard SVT-issue. Because the Saleen hood didn't clear the 32-valve engine's supercharger, all '03-'04 S281-Cs wore a Cobra hood.
The fact that Saleen Cobras retained many of their SVT-specific parts hints at the difficulty ahead for Saleen. In contrast to the Fox-platform '84 Mustangs with which Saleen first started, the '03 Cobras rolling out of Dearborn were quite good and much harder to "improve." The Cobra's seats, brakes, and drivetrain were vast improvements over standard Mustang GT equipment, and Saleen left them alone.
Whether it was lack of customer demand, or Saleen's reluctance to build them, only 29 SVT Cobras were converted to Saleen S281-Cs for '03 and '04.
2003 Saleen Cobra (Terminator) for sale
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