Big car decision, input wanted.

[runsonboost]

Lately i have been throwing around the idea of getting rid of my cobra for a 5.0 (Fox). I have owned my car for over 4 years and put alot of time and money into it. I have owned 2 foxes and got alot of fun out of them, just something about them that I really like. A local dealership has a 90 Lx, Maroon, with everything but a built shortblock. Trickflow H/C/I, novi 1000, built 8.8 and all the usual stuff. The car is pretty clean, noticably repainted in a few areas, but overall in pretty good shape no rust. They are asking 4500 for it. I owe $10000 on my car, car payment and insurance run me about 700/month and i drive it MAYBE twice a month. The bad on my car is that it needs a new fuel system (cell and pump) and a new tune. I showed the car to the dealerships sales manager today, they offered me 11k for my car and to sell me the fox for 4200 OTD. As far as price goes, thats a great price for the fox, but a far cry less than what i would expect out of my car. I do understand however that my car is not typically a car dealerships want on their lot because of the niche market. They know about the mods to my car as well. I asked them about just a straight trade where they would pay my car off and give me the notch for my car. I would just sell my car outright, but it would need to have a new fuel system in it (the tank leaks, pumps are shot) and be retuned for a return setup, KB needs rebuilt (leaks) and a few other small things. Upside is it will be paid off in a year. even with everything fixed on it, i dont think i would be able to get much over 17k out of it.

In short i guess the question im asking is if the dealer where to take my offer and straight trade and pay my car off, would you do it?

 

[CobraBob]

Their offer of $11K is crazy low, but if they know about the repair needs I can understand why they're low-balling it more than norm. If it was stock with no repairs needed you would have gotten a much higher trade offer IMO. If it were me, I would fix your Cobra and even consider demodding it. Sell it privately and then look around for something else. You'll get a much better deal overall doing it that way. You only drive it a couple of times a month anyway, so it sounds like you could sell it and you'd be fine until you bought a replacement.

 

[Mach1USMC]

IMO keep the Terminator- pay it off. Buy a Fox either now and build slowly or after you're done buy one that is already decently modded.... You'll regret selling/trading the Terminator- trust me on that!!

 

[AntiHeightPunk]

you pay 700/month in insurance? I wouldn't ever buy a built car from a car dealership...someone got fed up with a project being broken and unloaded it at the dealership.

 

[runsonboost]

my car payment is 580/month and insurance is like 95/month. My wife totalled her suv last year into a pole and they jacked our rates up 50/month, despite neither one of us having an accident or ticket in over 5 years. The 90 Lx in question was the sales managers brothers car, i think he is just using the dealership to sell it. ill probably end up keeping my car just because i bought it stock and have done most of the mods myself, im pretty attached to it. in the last 5 years i have owned 13 cars and wish i could have kept every one of them. I would really like to have the notch, but not at the cost of my cobra. the sound of a blown 5.0 with flows and a healthy cam is very appealing to me though.

 

[shanezt]

lol, 4500 for a 90 lx? seems very high to me.

 

[truefiveo]

Modded or not its still a 22 year old mustang...I wouldn't dare pay over $3k from a dealer lot!

 

[SHOdown220]

Not to hijack the thread, but I always read about people saying 4-5k is way too high for a fox but around here I can't find any decent ones for less than that. Back in the summer I had 4k cash and couldn't find a fox in the state for that money that wasn't a piece of crap.

Back on topic 11k trade value for a terminator is way too low even with repairs needed imo

 

[shanezt]

Not to hijack the thread, but I always read about people saying 4-5k is way too high for a fox but around here I can't find any decent ones for less than that. Back in the summer I had 4k cash and couldn't find a fox in the state for that money that wasn't a piece of crap.

Back on topic 11k trade value for a terminator is way too low even with repairs needed imo

11k trade-in is more than fair. you will not get full pop on trade in money

 

[thomas91169]

Id keep the cobra if you only owe $10k, maybe refi so you arent paying out the ass.

Pass on any previously modded vehicle. Dealer is giving you a bs story unless he proves it was their car previously; thats a perfect example of someone unloading their failed project car and moving on.

Though i sold my 03 to buy a 98 gst for $5k. I had $800 payments with insurance and hated it.

 

[SHOdown220]

11k trade-in is more than fair. you will not get full pop on trade in money

There again dealers around here sell terminators for low to mid 20s even with high mileage. So I would consider a 100% profit on a car excessive for a dealer. Like I was saying in my first post mustangs go for way too much around where I live. So I would expect more than 11k trade on a cobra. Just goes to show how prices vary from location to location.

 

[GOTSVT?]

Pay cobra off, save money and pay cash for a fox.

 

[Jibber]

pay cobra off, save money and pay cash for a fox.

+1

 

[Camaro_94]

I would have laughed at them if they gave me that price. Sell your car outright and go from there.

 

[runsonboost]

Im just going to do the fuel cell and pump in the cobra this winter and get it retuned. Pay it off a little early, then when i have some cash saved look for a fox to build. I told the dealership 11k wasnt going to work for me at all, they never called me back.