Finally looking at getting a Cobra, but wondering about price.

[Mr_Zurkie]

Hey all. I have been a long time Mustang fan and grew up always wanting a 03/04 Cobra and now have the opportunity to do so. I'm not new to the Mustang world (had a 95GT about 15 years ago now) and have owned several other sport cars throughout my life at this point.

I recently, by accident, met an older lady who has a 2003 Black Cobra Coupe with 17K original miles. Car is completely bone stock. Only thing changed out was the battery. We got to talking and she said she doesn't really care to keep the car anymore and said she thinks I would appreciate it more. The issue that Im running into is this.....

How much is this car actually worth? Its been garaged its entire life. No accidents. She doesn't really know as the market on these are super weird. I've seen some sell for low to mid 30's, but I also see people posting them for mid to high 40's as well.

I ask because I obviously want the car. But I dont want to overspend on the vehicle if there are other close-ish options also available in the market. I want to give her a fair offer. I apologize for the long post and any insight is appreciated. Thank you again!

 

[cobracide]

Give her $30k, be done with it and you both can sleep well.

 

[P49Y-CY]

is she the original owner?

 

[Mr_Zurkie]

Yep. She is the original owner.

is she the original owner?

Yes. Its a one owner vehicle. She got it brand new.

 

[MG0h3]

Prob be high 30s low 40s on the open market.

Offer 30k and save her the stress


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[HudsonFalcon]

$30-$35k.

 

[2003RedfireVert]

It will need some maintenance at those miles. $35k is more than fair for both parties. Probably needs tires, suspension, all fluid changes, some other odds and ends.

 

[LS WUT]

I feel like $35k is fair for both parties. Especially since you know it’s not dogged our, natural light mechanic special on the weekend kinda car. Obviously If you can offer $30k and work your way up. Low mileage cars, and 1 owner cars are hard to find. Most of these cars have been dogged out, and have had 8+ owners. I think people who tend to worry about overspending are ones who worry about resale. Obviously nobody wants to buy a car and lose $10k off the rip. I’d say if you plan to add lots of miles then I’d save yourself the premium price tag for a low mileage car if you plan to drive it a bit. Then you wouldn’t have to worry about losing money.

 

[Mr_Zurkie]

I appreciate the replies. I agree with the fact that one owner, low mileage cars are a little harder to come by. I just like the story about a car. I like to know who owned it and what was (or wasn’t) done to it.

I modify my own vehicles because I assume the last person didn’t do it right. I’ve had too many issues dealing with modified cars that previous owners did. Usually a nightmare.

At any rate, I plan on keeping this car and also driving it. I tend to enjoy my vehicles not collect them. But it wouldn’t be my daily by any means.

 

[CobraBob]

It will be very difficult to find another Terminator with mileage that low coupled with being original owner, knowing the history of the car, and knowing it truly hasn't been modded. Only "negative" is that the paint color isn't a preferred color. I would make an offer of $33K which I think is fair on both sides. If it was Sonic Blue, Screaming Yellow, Mystichrome, or Competition Orange, then a premium price closer to $40K. Most of the other colors (except Silver, Black, Zinc Yellow) a bump to $35K. Bottom line, it ends up being what the market will bear. Truly JMO.

 

[03cobra#694]

$30K. It'll need tires for sure if they're original.

 

[badcobra]

How up is she on the market for these cars? I would hit her at $27k and see what she says.

 

[Mr_Zurkie]

How up is she on the market for these cars? I would hit her at $27k and see what she says.

She’s been doing more and more research. I think it’s bad and good that she’s not actively selling. The issue is, she’s not in a pinch to sell so it’s not a big deal if she does or doesn’t. Second, she’s looking at eBay and BaT. Which both have crazy outliers.

 

[cobracide]

Hurry up and make an offer before she decides to wait. Bring over the cash and start counting it out.

 

[Ke1130]

But even on BAT the prices are pretty consistent with what people are telling you here 30-35k. An 04 redfire with 23k miles sold for 32k and an 03 with 12k miles sold for 40k. Any of the higher priced ones are the more sought after colors. I’d offer her 30k and see what she says. Does the car have the dark charcoal inserts?

 

[Bdubbs]

But even on BAT the prices are pretty consistent with what people are telling you here 30-35k. An 04 redfire with 23k miles sold for 32k and an 03 with 12k miles sold for 40k. Any of the higher priced ones are the more sought after colors. I’d offer her 30k and see what she says. Does the car have the dark charcoal inserts?

Dark charcoal inserts were offered in 04.

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[Ke1130]

Correct my bad I thought op said it was an 04.

 

[Mr_Zurkie]

Thank you all for your input. I’ll let you know what happens. I’m going to see if I can explain enough to her so I can also have some extra budget for needed maintenance.

 

[P49Y-CY]

sounds like an interesting old gal to have gone in and bought a brand new black, stick shift, top-of-the-line performance mustang coupe back then

 

[Mr_Zurkie]

Her Dad was a big ford guy. I’m thinking maybe he bought it and left it to her when he passed.