current kbb pricing on terminators

[edw794]

i saw a nice 2003 cobra for sale by a private owner last week in really nice condition with no body or wheel damage. the car was stock except for a CAI and a borla exhaust. all 4 tires were new and a transferable extended warranty was offered. mileage on the car was 2600k miles. asking price was $23500 which i thought was a little high, but i didn't know how high until i looked at the current kelly blue book pricing for private party sales. an 03 cobra in "excellent" condition listed for a high of about $17900, while the suggested retail pricing for this car in similar condition was no higher than slightly over 20k. the kbb pricing on these cars has really dropped. with the pricing so low, i don't think my bank, or any bank would be willing to finance any amount near his asking price of $23500, or even if he was willing to drop his price $1500.00.

 

[Hkaiser83]

KBB is not valid for trucks or collector cars. NADA is far more accurate for Collector cars. NADA puts that Cobra right at 23k. But that is not even very accurate. I have seen Cobras with that mileage go for 26k.

 

[mu22stang]

That price seems pretty good considering the miles. Banks take mileage into account so you should be able to get a loan, especially now. As long as your credit is good, and you can put down a good amount of cash. However, if you are getting through Wells Fargo, good luck - they don't mess around. State Farm does excellent financing though.

 

[dormeas]

When I bought mine, all the banks I talked to used NADA and that mileage is going to make a big difference.

Also, I don't think that price is all that bad. Man they have gotten so cheap. When I was shopping a car like you listed would have been priced at like 30k and I was shopping last fall:shrug:

Good luck, hope you get it if it's what you want.

 

[Trainman]

23,500 is all my bank would lend me for mine almost 2 years ago with 20k on it. Kinda makes me sick how much value our cars have dropped over the past year. With the mileage being so low on the one your looking at they may work a little, good luck!

 

[Jomo1994z71]

the 03 Cobra was the 1st car I bought that was not under KBB value lol...

 

[Sniperdog]

since I don't plan on selling mine.,., it doesn't bother me :shrug:

 

[FromGTtoSVT]

Reality check, if you think KBB is an accurate place for pricing on these cars you need to get your head checked. Please educate yourself about the car before you buy it.

The car you have described is price right, any reputable bank will be able to give you a loan on that granted you have decent credit.

 

[BO TY KLR]

since i don't plan on selling mine.,., it doesn't bother me :shrug:

+1

 

[Sonic605hp]

I love people bitchin' about the value of a 5-6 year old car coming down.

 

[Fireguy615]

KBB is not valid for trucks or collector cars. NADA is far more accurate for Collector cars. NADA puts that Cobra right at 23k. But that is not even very accurate. I have seen Cobras with that mileage go for 26k.

I didn't realize our cars were collectible:shrug: don't they have to be 20+years?? I looked at NADAguides under the Collectible section and all they have is the 2000 Cobra R and GT supercars from 05/06.

Most larger banks and credit unions use the NADA books as their value bibles. Dealerships, especially smaller ones will use NADA, KBB and the 1 book everyone forgets about, the Kelley Black Book to determine values of cars they buy and sell, and then they will try to sell at whichever one is highest.

Plus there is the money they have into the car to consider. If they pay too much to acquire the car, which happens all the time, then their price out the other side is drastically affected.

 

[tmkr03]

+1

+2

I do not think it is too high of a price. :shrug:

 

[Sniperdog]

I love people bitchin' about the value of a 5-6 year old car coming down.

very good point lol.,., besides, these car have held their value much better than most cars.,., like dodge neon, toyota corolla, crown vick, taurus, gmc denali, and the list goes on.,., :thumbsup:
Rob

 

[edw794]

just spoke to my credit union on this car and they booked it at between 16k low value, to a high of 20k, which would be the maximum they would finance. if i buy this car, it will be my 2nd 03 cobra that i have purchased and financed through the credit union. the last one was purchased in june 08, where their high value was somewhere over 26k.

 

[Tims97SVT]

KBB means pretty much nothing on are cars.

 

[Sonic605hp]

KBB means pretty much nothing on are cars.

ummm if you're financing it does:bash: