Need advice: keep 01 or "upgrade" to a rebuilt title 03

[josephcostello]

I currently have a 72k mile 01 cobra. I'm the second owner of the car and it's a very clean car IMO. I've wanted a terminator since I rode in one when I was 15, and was hooked ever since I heard the supercharger whine. I have bounced around the idea of getting into one and selling my car but honestly a clean lower mileage one is out of my budget. I browsed CL and found a 62k mile 03 vert with a tan top/interior. It has a rebuilt title (guy said it was hit in the back and was cut out and replaced) but seems to be a relatively clean car minus a few things on the body. The car seems to be priced very well, but the 01 is my first car and I don't know if I want to give it up for a rebuilt title 03 that's not as clean. Any advice out there? Anyone upgrade from an 01 to and 03/04, or sell their first car and regret it? Should I keep my current car and wait till I can have both?

 

[COOL COBRA]

I'd examine the extent of the crash damage further & decide. Minor? Not so bad. The term "cut out" makes me wonder how bad it was.

 

[BlksvtCobra01]

I'd examine the extent of the crash damage further & decide. Minor? Not so bad. The term "cut out" makes me wonder how bad it was.

This OP. Me personally I wouldn't want a salvage title car. If the rear was cut and replaced or just in general. I did however sell my 01 Cobra for a terminator. It wasn't my first car I still have that. But I can tell you it's a night and day difference going from a 01 to a 03-04. I don't regret that decision. My 01 was a good car but the 03-04 is leaps and bounds better than the 01.


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[01yellercobra]

I'd do some close inspection on that 03. If the repair was done right then the salvage title wouldn't concern me too much. These cars are getting to the point where most are going to have some kind of damage.

As for being worth it, that's really up to you. You can always upgrade your 01. That's what I did, but I really wanted a Mystichrome and that wasn't available in 01. I do miss my 01 time to time. But the new owner is taking awesome care of it.

 

[ShaneCobra74]

I completely agree with slo...

These cars are getting to the point where most are going to have some kind of damage.

Some are fixed correctly, some are not. However, an 03/04 with a salvage title wouldn't be the one I'd be trading out the '01 for. Unless you planned to keep the salvage car forever, they usually take a hit in resale, either in value or interest as most people move on to one without a branded title.

Personal opinion, the 03/04 is an icon car. It was the high water mark for SVT in the 99-04 'New Edge' model. First SC Mustang ever and it was done very well despite tight engineering timelines. Today, they keep getting wrecked and stolen. Their value is surprising for their age and they, *ahem (SVT Perf) have a following.

I'd say definitely step out of the '01 for a terminator, but not for a salvage car. But, if its the ONLY way you get into a 03/04, then its something you'll really have to consider.

 

[DSG2003Mach1]

unless its dirt cheap I wouldnt dump my clean car for a salvage title terminator.

 

[Black Gold 380R]

I know it's easier said than done, but I go with your last statement. Keep your current car and wait until you can have both.

I traded my 89GT for my 03 Roush. I personalized my 89GT and there was not another one like it out there. It even had the rare tan interior. I regretted trading that car and even looked for it from time to time. I found it in Tennessee 10 years later and the guy offered to sell it back to me. I asked him to wait a year while I got my finances in order and he agreed. However, before we could finalize the deal he got into an accident and totaled the car.

So, if you really like your 01 and you have that "First" car attachment I say keep it.

Here's my 89:

Original:

Painted:

Wrecked:

 

[ShaneCobra74]

BlackGold,

I was feeling pics 1/2, then the kick in the nuts on 3.

Pic 1: Original- I feel it!
Pic 2: Beast!!
Pic 3: WTF??

I see how your color scheme on your Cobra is similar- nice touch and homage to the original.

So, this is a good 'word picture' of a salvage car before repairs... and it ain't real pretty. I'm sure worse can be fixed just as well.

 

[Black Gold 380R]

BlackGold,

I was feeling pics 1/2, then the kick in the nuts on 3.

Pic 1: Original- I feel it!
Pic 2: Beast!!
Pic 3: WTF??

I see how your color scheme on your Cobra is similar- nice touch and homage to the original.

So, this is a good 'word picture' of a salvage car before repairs... and it ain't real pretty. I'm sure worse can be fixed just as well.

Thanks Shane. You are the first to understand my mindset on my Cobra. Yes, my Cobra is kind of an homage to my 89. I have a thing for red, silver and black and checkers LOL.

And yes that third pic when I seen it was a total kick to my nuts, gut, spirit and everything else.

To the OP, anything can be repaired these days just make sure whoever fixed that Cobra did it right. Not every shop has the skilled or dedicated employees to do the job right.

 

[josephcostello]

Lets just say what the guy is asking is a little less than what I can sell my car for. He's been trying to sell it for a week with no other bites, so there's some wiggle room. I'm looking at about $3500 of extra cost between airfare, shipping back (unless I drove it the 2k miles back home), and sales tax. I talked to him last night and the body is in great condition, few paint chips but no dents. Stock motor, installed different gears. Top motor doesn't work but it's the only thing really wrong with the car. Some cheapo tires that are less than a year old too. Doesn't really seem to know what the car is, and many questions I asked he suggested I talk to his brother in law who found it and got it for him when he bought it 5 years ago...I'll do a carfax on it later tonight.

 

[josephcostello]

Here are some pictures of it...is it just me or does the rear bumper allignment look a little funny?

motor is stock down to pulley cover

 

[Black2010]

Pics aren't coming through.

I'd be less concerned with the exterior part of the body that you can see and would want to know more about the stuff under the shell. These cars are unibodies so if it was hit hard enough to salvage the car then theirs a good change things may not be straight anymore.

If I was you, I would set some money aside each month until you had enough to buy a clean title car. I know it's tough as you want that instant gratification but after the newness wears off you may regret the change.

 

[2004cobra615]

I would keep what u have till you can afford exactly what u want. why settle....
Plus I would not buy a possible problem car
04 cost more to own so take that into consideration ... insurance, and if it's modified you can lose reliability. are u going to DD the car?

My 01 cobra I never did anything but change the oil and outer tie rods for the 5 years I owned it.

I would save up more for a nicer terminator.

 

[josephcostello]

I would keep what u have till you can afford exactly what u want. why settle....
Plus I would not buy a possible problem car
04 cost more to own so take that into consideration ... insurance, and if it's modified you can lose reliability. are u going to DD the car?

My 01 cobra I never did anything but change the oil and outer tie rods for the 5 years I owned it.

I would save up more for a nicer terminator.

Car wouldn't be a dd, I have a volvo station wagon to do those duties. I average about 3-4k miles/year on the cobra I have now

 

[josephcostello]

Thanks for all the feedback, is really helpful thinking about this. I will try to find out more about the damage, and who knows maybe he's flexible on the price that would make it a no brainer. A lot to consider, thanks for all the replies.

 

[nxhappy]

save your money for a clean title termi ....don't get yourself in a rush

 

[BlksvtCobra01]

I have to ask what he is asking and what are you thinking your car will sell for? If your still thinking about it I'd look it over with a fine tooth and comb and not let emotion get the best of you. So you don't regret it later.


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[josephcostello]

I have to ask what he is asking and what are you thinking your car will sell for? If your still thinking about it I'd look it over with a fine tooth and comb and not let emotion get the best of you. So you don't regret it later.


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He's asking 11 for it. I would think I could sell my car for around 13. Here's a folder to some pictures: https://drive.google.com/open?id=0B_N5EMvcF-xLME15NFU5dHdFa28

 

[BlksvtCobra01]

He's asking 11 for it. I would think I could sell my car for around 13. Here's a folder to some pictures: https://drive.google.com/open?id=0B_N5EMvcF-xLME15NFU5dHdFa28

I'd hold for a non salvage car imho. Don't take this the wrong way either but you would probably be lucky to get 10k for your car. That's with t being under a 100k miles which you stated.


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[ShaneCobra74]

In the pics, it looks like the front clip was repainted from the fenders forward, maybe even the windshield frame. You can see it best on the drivers side photo. It doesn't quite match. The front end is bright white. From the doors on back is vanilla- ish. Look closely. I suspect front end collision. I also see some paint missing on the passenger inner fender at the shock tower. It could be the pic or it could be from the collision. That is usually the fatal bend that takes them out. Either way I'd pass. Your 2001 looks super compared to this Cobra. A CO convertible would be perhaps a worthwhile venture. A white with tan top? Man, that's just a tough combo. Your MG Cobra looks bad ass. I'd drive it over the white one.