Opinions-Should I sell?!?

Black Gold 380R · May 3, 2017

GDDYUP said:
I'm going to give you my real quick version of a painful story...

20 years ago when I was a young lad I bought a 90 Notch. The car was a pile. Built it up over a few years and made it exactly what I wanted. Granted I was young, engaged, had no huge bills when I built it. I spent a TON of time and effort on that car with friends and we had a blast. It wasn't too crazy, but it ran 11.8s on an NA306 with stock style suspension...

Fast forward a few years. Had a house and a young son who was just born. Still wasn't being beat up with bills. Both wife and I have always worked fulltime jobs and had great local family who helped with the young family. We weren't beat up for money. One day I decided that I wasn't driving the car much anymore, there were some little bills I could pay off, and I made a real bad mistake.

I sold the car. The day after Christmas, I dropped it off at the train station and on it's way it went. My good buddy also sold his at the same time because "we weren't driving them anymore." Neither of the cars owed us anything.

I don't regret many things and I'm not the type to harp on my past decisions. You make them, you deal with them, you move on. That's one decision I really regret. Once it was gone and the money went to the bills or wherever, it was still gone. Come to find out a few years later that it had been totalled by the person who bought it and it was scrapped. Gone.

It took over 15 years to get one back. I bought a 92 LX, spent some time with it, spent some good money on it, did the 351 swap I always wanted to do, and then sold it. I just never fell in love with it like I did with my notch. It always reminded me of that stupid decision I made. I used the money to help pay for the Cobra.

My Cobra? That's here to stay! That's never going anywhere. I LOVE this car. It puts me right back where I felt when I was wrenching on the car with the boys 20 years ago. I refuse to let this one get away. I made that mistake before and I absolutely refuse to do it again.

So think about it before you really make your decision. If you really feel the right thing to do is to sell it and move on, take another couple days and be sure. In the end, the decision you make has to be the right one for you. Just make sure you're doing it for the right reasons.

Good luck!

Man, this is almost my story exactly. I traded my 89GT in for my Roush. Had a chance to get my 89GT back, but new owner totaled it before I could buy it back.

My Roush is cool, but if I had to do it over again I would keep my 89GT. I put myself into that car. The Roush is cool, but it's someone else's vision. I have put myself into my 03 Cobra and I enjoy my Cobra more than my Roush.

Based on my experience I say keep the car. It's easy to say you can buy another one in 5-10 years, but you don't know what the quality will be or what the value will be.

Good luck in whatever direction you decide to go.

NateDogg · May 3, 2017

MG....11k miles....

Nope no way I'm selling that car. That car is an investment in itself. Even if you put another 4k miles on it in the next 5 years you are going to have one of the lower mileage MG cars.

Maybe if it were black or redfire..

But lower mileage MG CO MC cars only going demand more money in the future.

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Recon · May 3, 2017

I say keep it. Very low mile mint Terminators are becoming a rare occurrence. As time goes on they'll get rarer and rarer. While increasing in value at the same time. If you sold it how many more examples are in the same category as yours. The list gets smaller and smaller.
I can tell you I have a 3V Roush and GT (big difference from a Terminator, I know) if I sold them I could use the money for better things. Or you could say that would be a wise choice. I've heard so many people regret selling their toys. It's just something I'm not willing to make. I already have regret not buying my buddy's 04 GT and it annoys the hell out of me and my buddy that his grandson isn't taking care of the car.

Sent from somewhere in the Twilight Zone.

2003SVTFreak · May 3, 2017

You having to ask for opinions means you don't want to sell. Yes you don't drive it as much as you should but that keeps value up. But that one time every so often that you crank her and take her out, opening the throttle up and getting the looks from other drivers "is that a terminator? Wow" it will remind you why u kept it. The terminator is not just a car, it is a piece of Ford history! Biggest regret ever if you sell

nxhappy · May 3, 2017

11k miles and mint, I say keep it.

mikeeeb124 · May 4, 2017

RI-SVT said:
Before I give you my opinion, What type of business are you thinking about?

I am a automotive diagnostic tech and trainer. I will be starting up a side gig for mobile diagnostics and vehicle programming in my area.

HPLouis · May 4, 2017

03' White Snake said:
Keep it, you won't find another low mileage, non abused cobra again. They are getting old and hard to find now. You will regret it severly. It doesn't cost you anything sitting there. That's how I look at it.

This right here. I'm always considering selling my car. I got it in Sept of 17 with 2700 miles. It's sitting with 4700 miles now. This car is not abused and bone stock. It came from the original owner. It even has the air filter and tires dated from 2003. My issue with selling is reading the stories here and seeing how everybody comes back to the Terminator. The problem is that it'll be hard to find another car like the ones we have that haven't been abused. It took years for me to find this car and I know it'll be a hell of a time to find it again.

ruthless · May 4, 2017

Just a heads up but banks are not looking at these cars as good investments. If a buyer doesn't have play money set aside then its going to be very hard to get what your car is worth OP. I just did this and for giggles talked to a couple banks. Hey when your money is tied up and making money why not right? Well for the differance in interest I could have just gotten a 2013-2014 GT for the same total cost in the end. The freakn interest rates were insane even with perfect credit. I was told our cars are currently in a "void" area. They are too old and at the same time not old enoughn to draw a banks attention. Needless to say I was a little upset and kinda yelled at the banks. They are certenly trying to force people to buy newer in hopes they can resell easy if they don't recieve payments.
So car guys like us are kinda stuck if you dont have cash sitting around. No way was I going to pay anything over 5% or almost tripple that from one bank. I am not sure how some people sleep at night.

Comp04svt · May 4, 2017

I voted keep as well. My story is similar to yours.

I bought mine back in '09 with 29k miles, and the car has 40k now. I had my first child 7 months ago, and have less time for the car now obviously. Don't need to sell it, even though I've considered it a few times. But like mentioned previously, the only reason I'd consider selling mine would be to get into something else like a cts-v or newer Shelby, but I would probably always regret it, and want to come back, so I keep reminding myself it would be very tough to try and find another car like mine down the road, with the mods and the work I've put into it. I cant not have a toy, because it's also a release for me, so ill wait till I can afford more than one toy, lol.

Its even worse in your case as you have a very low mileage car you know isn't beat. To replace it with something similar down the road would take a lot I'm sure.

nxhappy · May 4, 2017

if you are not in financial burden, just keep it. Don't sell just to start a business that is up in the air. First few years are rough. I can also tell you the automotive industry/business is not easy.

Zemedici · May 4, 2017

ruthless said:
Just a heads up but banks are not looking at these cars as good investments. If a buyer doesn't have play money set aside then its going to be very hard to get what your car is worth OP. I just did this and for giggles talked to a couple banks. Hey when your money is tied up and making money why not right? Well for the differance in interest I could have just gotten a 2013-2014 GT for the same total cost in the end. The freakn interest rates were insane even with perfect credit. I was told our cars are currently in a "void" area. They are too old and at the same time not old enoughn to draw a banks attention. Needless to say I was a little upset and kinda yelled at the banks. They are certenly trying to force people to buy newer in hopes they can resell easy if they don't recieve payments.
So car guys like us are kinda stuck if you dont have cash sitting around. No way was I going to pay anything over 5% or almost tripple that from one bank. I am not sure how some people sleep at night.

And this folks is why you don't go to banks for older vehicle loans. You go to a credit union.

I have 3-4% on my cobra (can't remember) with nothing down. And I bought my car already done which means it wasn't cheap....

HPLouis · May 4, 2017

Zemedici said:
And this folks is why you don't go to banks for older vehicle loans. You go to a credit union.

I have 3-4% on my cobra (can't remember) with nothing down. And I bought my car already done which means it wasn't cheap....

Exactly, I got 4% for mine with nothing down and I even rolled the taxes into it. Go to a Credit Union for a loan.

03cobra#694 · May 4, 2017

Zemedici said:
And this folks is why you don't go to banks for older vehicle loans. You go to a credit union.

I have 3-4% on my cobra (can't remember) with nothing down. And I bought my car already done which means it wasn't cheap....

HPLouis said:
Exactly, I got 4% for mine with nothing down and I even rolled the taxes into it. Go to a Credit Union for a loan.

What??? This is SVTP, we all pay cash for our shit. Lol

Zemedici · May 4, 2017

03cobra#694 said:
What??? This is SVTP, we all pay cash for our shit. Lol

if only.

hahaha

2Rare · May 4, 2017

I say keep it. Why? Because the chances of you finding another clean, low mile, MG Cobra is slim-to-none. It won't cost you anything to keep the car if you own it outright...

1wild-horse · May 4, 2017

Keep. It's going to be a unicorn in a few years.

paulyboy928 · May 4, 2017

Keep it, OP.

Steve@TF · May 4, 2017

if the car had 30 or 40k on it id say sell it, you can always get another one. but with your low mileage, theyre going to be very hard, and very expensive down the road. 5 years from now, 10 years? a clean terminator with 11k on the clock? yikes. and good luck finding one for sale, especially in that color (if you like it).

imagine selling it, putting the money into the new business, and then the business doesnt last after a couple of years and all the $ is gone. you will definitely regret it then. find another way to raise the $ for the business adventure. maybe just start really small and let it grow.

so many times ive heard of people who sold a shelby mustang, 1st gen camaro, vette, classic chevy, boss mustang, etc... when the market was really low. then later were crying about it over a beer as there was no way they'd be able to afford another one.

the only reasons to sell, imo, would be you need emergency money or need the $ to buy a house.

R.D.P. · May 4, 2017

No one is mentioning the real possibility that you sell the car, invest in whatever business start up and it fails and you end up without the car, the money or the business. I don't plan to sell mine unless it's to immediately get into another weekend "fun" car.

Edit - I see Steve sort of beat me to it by a few minutes.

Coosawjack · May 4, 2017

Hate to sound out of touch but I gotta ask..... what the heck is an "MG Coupe" Mustang??

Opinions-Should I sell?!?

Should I sell?

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