Might be trading in my '03 Cobra tommorrow. Am I crazy?

[shanker]

I've had my Sonic Blue '03 Cobra since february of '03(might be the first guy with one on this board). I've driven it 7800 miles since then. I love the power and look of the car but its an absolute chore to daily drive. The engine is a huge heater and shifting is too notchy(stock and with the Steeda triax). Wheel hop pisses me off too but I can get tires to cure that too. I was pullied for a while but all I would ever do is a second or third gear pull and that was maybe once or twice a week if the weather was good.

I've since taken a serious liking to the '05 Legacy GT. I test drove one the other day and it was awesome. Not as fast obviously but everything else was better. It'll also do a 13.7 at 101. I know of two people that have anyway. I think that is the best of both worlds for me, Mustang GT speed and all the bells and whistles I wish it had. Maybe I'm getting old.

Heres the deal. They have a 24 month lease (no money down) plus $1500 lease cash on that car for $359 a month. It depends on what they want to give me versus what I owe on the Cobra but if I could get under $400 I might do it. I only have about a two year attention span for a car anyway. If I traded the Cobra and $5K I'd lose the down payment if I traded in too early.

Another reason I want to get into a lower monthly payment is to start saving. Other than my 401K I have never really done it. I have $23K($19K after taxes) comming from work in december and that'll take care of all my debt and leave around $6K to roll into a CD or something to grow for when I decide to get a house or something.


The problem with the Cobra is that no one is selling cars very well now and they are practically giving them away. If I cant get what I want tommorrow am I better off refinacing the Cobra and hoe the MGW shifter that is comming out will help cure the notchyness and just drive it like I stole it? If so what is the best way to refinance? On one hand I KNOW I'd miss it but part of me wants a change.

Any advice other than "STFU!"

Thanks

Matt



This community is part of what makes me want to keep it. You guys have helped me out a lot!

 

[IDAREU]

Matt, it sounds like you have around 3 more years to pay on the cobra. If you lease the Gt for two years how much are you saving with your payments? It would have to be over $125 a month to make it worth it for me. If you kept the cobra you would have one year left to pay on it and that $6000 you will have in Cd's should take car of that.

If you are looking just to lower your payment and still want a fun car you could smartbuy an Ion redline for $249 a month with the same downpayment.

Good Luck

 

[shanker]

It would save me quite a bit more than $125 a month especially with insurance factored in. I pay $130 amont at 29 years old with no tickets or accidents.

 

[LBguy]

Originally posted by idareu
If you are looking just to lower your payment and still want a fun car you could smartbuy an Ion redline for $249 a month with the same downpayment.

Good Luck

Ion wouldnt be as fun at the Legacy . . .

I say do some thinking and really figure out your priorities, then go from there. :beer:

 

[Vancouver83LTD]

Originally posted by idareu
Matt, it sounds like you have around 3 more years to pay on the cobra. If you lease the Gt for two years how much are you saving with your payments? It would have to be over $125 a month to make it worth it for me. If you kept the cobra you would have one year left to pay on it and that $6000 you will have in Cd's should take car of that.

If you are looking just to lower your payment and still want a fun car you could smartbuy an Ion redline for $249 a month with the same downpayment.

Good Luck

Nobody wants a damned Ion! :nono:

 

[SVTHorsnake]

I like scoobs so I biased... but think of your payments too.

 

[slick4_6]

Originally posted by Vancouver83LTD
Nobody wants a damned LTD! :nono:

:beer:

 

[Brian97vobra]

LMFAO!!! That's what i was just about to put!

 

[99cobradave]

Look into a used 2001/2002 Lincoln LS. That is a great car and can be had for a song. These are very nice cars!

Leasing?! Yuk. If you're concerned about saving money, the only option is to look into good used cars and keep them for more than your two year attention span.

Good luck.

 

[LBguy]

pics of legacy for those of you who dont know what it is . . .

Turbocharged flat 4 - 250hp w/ awd

 

[carrrnuttt]

I doubt very much (him being a Cobra driver, and all), that he's looking at the automatic, wagon Legacy.

Here's the optional navi system:

Dunno... To me, the car looks like a cross between a Nissan product, and a Ford product. I like it though. Excellent, and safe family-car that can get out of its own way...

 

[1995COBRA-R]

I don't even know who makes a Legacy

I do not know that car so I will not comment on it.

I do know about money. I think you are looking at it incorrectly. You are looking at payments. You need to bring the actual numbers to the post. (price of new car, less trade-in = amount financed). What is the price of the new car if you bought it outright (rather than a trade)?

That said: What is the value of a Legacy when it is two years old (go to KBB.com)? You'll know how you will be on new the car after two years of ownership. You've taken the biggest hit on the Cobra (a new car depreciates more the first year than the remaining years). IMO, you will suffer the first year depreciation again.

You are always better off if you sell a used car to a private buyer and then buy another. A dealer can't give you the trade in that a private party will pay.

Good luck.

 

[T-Bolt]

Why not just get an '05 Stang? 300 hp, smooth, and supposedly you don't have to lean forward to hit 3rd. The interior looks nice, you keep a lot of power, and you get a smooth daily driver.

 

[50 BMG]

What is your asking price for the Cobra?

 

[shanker]

You need to bring the actual numbers to the post

I have over three years left on the Cobra to pay it off.

24 months on the Cobra: $16,320 ( upside down n trade in I had) In a car I'm not as crazy about as I was when I got it. ost is no longer justified and really dont need the power. Not ONE race in the car since I got it.

24 months on the Legacy GT: $9600 ( without a down payment and could be less. Dont lose the down payment due to depreciation) Might talk about purchasing it. if we can meet $400 a month or less.



carrnuttt: EXACTLY! No wagon for me. Even without boost the LGT has descent torque for every day driving.

50 BMG. I was asking payoff. with the extended warranty cancelled it would've been around $25K. I was going to through in all the mods too but no biters in two months.

 

[racerat]

Originally posted by shanker
I've had my Sonic Blue '03 Cobra since february of '03(might be the first guy with one on this board). I've driven it 7800 miles since then. I love the power and look of the car but its an absolute chore to daily drive. The engine is a huge heater and shifting is too notchy(stock and with the Steeda triax). Wheel hop pisses me off too but I can get tires to cure that too. I was pullied for a while but all I would ever do is a second or third gear pull and that was maybe once or twice a week if the weather was good.

Doesn't sound like the Cobra is the right car for you. Trade it/sell it for something you want.
jmo, but a pretty much stock 03 is a far cry from a "chore" to drive. If you really feel that way, get the Legacy.
btw...the first 03's hit the streets in June of 02

 

[shanker]

(might be the first guy with one on this board

I made this post at another site and pasted it here to save time. on that board I was the first to get one. I forgot to remove that part for this site.

 

[SALEENGTROUSH]

to answer you question in the thread YES YOU ARE CRAZY ... :lol: jk man i wouldn't do it but i do what u think is right... sleep on it, and however you feel when u wake up there ya go:thumbsup:

 

[shanker]

Subaru and Carmax both said it was worth $19,400. WTF?

10,800 miles in perfect shape for its age.

I bet an '03 GT isnt this bad.

 

[SVT4ME]

Wow your going to get raped.