Not sure what to do.

[Awt2]

Hello,

Im a newer member here on SVTP, but I've been lurking for a while.
Im running into a dilemma right now, that I am unsure on how I want to solve.

I currently have three choices, and if anyone here has any input into that, I would love to hear it.

Choice 1 would be to keep my 97 Cobra, DD it through the winter/summer/spring and just keep ending up even at the end of the month.
I never have any money for anything, and the Car just sucks all my money away. Plus, its going to need a flywheel and tires soon. (already bought the clutch)

Choice 2 consists of selling the Cobra, buying a more economic car (SVT Contour/Civic/something that is cheap and will get 20mpg+) and banking the rest of the money. Therefor, saving for a nice Foxbody down the road.

Choice 3 would be to sell the Cobra, buy a 4Cyl Fox, and then start piecing together parts for a 302/351 swap.

Now, remember, Im only 16, so I don't have access to loans or big money. I work my ass off for what I have, and I don't want to have to ask my parents for any money at all.

 

[FISHTAIL]

Well, option #3 is probably not the one you want. First, it'll take you a while to accumulate all of those parts, and in the meantime you'll be driving a total dog of a car. That issue aside, once you do get all the parts, you'll still have some downtime to contend with, during which time you'll be needing to borrow/rent another car to get around.

I'd stick with one of the first two options. Given that you are still 16, and don't have lots of spare cash to spread around, option number 2 makes the most fiscal sense. And it should keep you happy if you get something that's at least enjoyable to drive.

If I were you, I'd think long and hard about option 2, and base my decision on how happy I am with the amount of spending money you've currently got, weighed against how much you like your current car.

 

[03cobraaa]

With the given circumstances, id sell it and get something more suitable to be driven everyday and the winter months.

 

[Awt2]

Im really thinking option 2 right now.

Because, I would have a DD, that wouldn't be draining my funds. And, I would have a nicer car to drive on the weekends. It makes more sense to me, to do that. Plus, if if Im driving the Mustang around, and something breaks, or vice-versa. I have a car I can back up onto. Instead of having to beg my parents to drive me around.

 

[my98stang46]

Your in high school dude. Ditch the cobra and buy another one later on when you can afford it easier

 

[Awt2]

Your in high school dude. Ditch the cobra and buy another one later on when you can afford it easier

Thats not really the thing. I can afford it, I just have to work my ass off and I don't have time to myself. Its not the money I'm really thinking about. I have a solid job, and I make decent money.

 

[megameGT500]

I might catch some flack for saying this but here goes.
1. It is alright to ask your parents for help which leads me to;
2. What are your future plans? College? Trade school? What do you want to do or at least do you have a long term goal(s).
3. What kind of grades do you get?
4. What's a reasonable amount you would need to help you through?
You don't have to answer these questions in this thread, just ask yourself
If I was mom or dad would I loan money to myself?

I guess my point is everyone needs a little help at some point plus if your parents can afford to lend you some money it will establish a very strong trust. If you defaullt though, It will look really bad. At 16 yo with the car you have is so cool. I had a 1972 Ford LTD four dour for my fist car in 1982. Anyway good luck and whichever choice you make will be the right one.

 

[Awt2]

I might catch some flack for saying this but here goes.
1. It is alright to ask your parents for help which leads me to;
2. What are your future plans? College? Trade school? What do you want to do or at least do you have a long term goal(s).
3. What kind of grades do you get?
4. What's a reasonable amount you would need to help you through?
You don't have to answer these questions in this thread, just ask yourself
If I was mom or dad would I loan money to myself?

I guess my point is everyone needs a little help at some point plus if your parents can afford to lend you some money it will establish a very strong trust. If you defaullt though, It will look really bad. At 16 yo with the car you have is so cool. I had a 1972 Ford LTD four dour for my fist car in 1982. Anyway good luck and whichever choice you make will be the right one.

1. They lent me the money to buy the car, and I'm paying it off right now.
2. I want to go into Automotive Electronics/Tuning.
3. B's and C's, and an A+ in Autoshop.
4. I don't really need any money to get through. I break even every month, I just like to work for what I have. I don't want anything bought for me.

I decided to answer them in this thread, because I just wanted people to know a little of what I am doing, so they have a better understanding. My parents would lend me money, I just don't want to have to ask for money. Because, everyone is struggling in this economy right now.

 

[megameGT500]

1. They lent me the money to buy the car, and I'm paying it off right now.
2. I want to go into Automotive Electronics/Tuning.
3. B's and C's, and an A+ in Autoshop.
4. I don't really need any money to get through. I break even every month, I just like to work for what I have. I don't want anything bought for me.

I decided to answer them in this thread, because I just wanted people to know a little of what I am doing, so they have a better understanding. My parents would lend me money, I just don't want to have to ask for money. Because, everyone is struggling in this economy right now.

Think of it as helping the economy. You seem like a kid with a good head on your shoulders. When I was your age my best friend bought a old beat up 77 vette. He worked on it little by little and was taking college course after HS. Wasn't until his Sophmore year in college did he finish. His parents helped a little but he did the grunt work and that car was beautiful, until his brother wrecked it about 7 years later. I always like vettes becuause of him but now I want to buy a 97-98 Cobra because I think they look soo much better (again I will probably get flamed). I understand why you don't want to borrow money and I respect that. I hope you do work for everything you get, it just makes it that much sweeter. Good Luck.

 

[Awt2]

Think of it as helping the economy. You seem like a kid with a good head on your shoulders. When I was your age my best friend bought a old beat up 77 vette. He worked on it little by little and was taking college course after HS. Wasn't until his Sophmore year in college did he finish. His parents helped a little but he did the grunt work and that car was beautiful, until his brother wrecked it about 7 years later. I always like vettes becuause of him but now I want to buy a 97-98 Cobra because I think they look soo much better (again I will probably get flamed). I understand why you don't want to borrow money and I respect that. I hope you do work for everything you get, it just makes it that much sweeter. Good Luck.

Thanks. I think the most logical thing to do in my situation is to ditch the Cobra, buy my self a DD and drive that. Then save the left over money, and buy someone elses finished project. That way I have the best of both worlds.

 

[truebluedevil02]

Option 2 all day long. And then when you have the money to buy a fox, say next year or whatever you can pick up an already full bolt on 5.0 for about the same price as a stock 5.0. Then you'll be faster than the cobra, for less money and you wont owe anything on it thus you'll be able to still save up for some future mods to the new fox. Good things come to those who wait.

 

[Awt2]

Well, we have decided on keeping the Cobra. For a few reasons.

1. I don't owe much more on the Cobra, It'll be paid off here in a year or so.

2. I don't want to buy someone elses problems, I wouldn't like to buy a car from someone and have it break down on me a week later.

3. Im going to have the Cobra re-tuned, so I can run 89 octane in it. That way I still get 18mpg, and Im saving a tad more money.

I have the nicest car in my school, and I get compliments daily for it. I don't want to part with it. I'll start with some parts on it next summer. I like knowing I have a Cobra, and not a base 5.0 c:

 

[03cobraaa]

I'd try to stay away from 89 if possible


---
I am here: http://maps.google.com/maps?ll=40.275939,-79.836120

 

[truebluedevil02]

3. Im going to have the Cobra re-tuned, so I can run 89 octane in it. That way I still get 18mpg, and Im saving a tad more money.

You'll spend $300+ on a tune and you will save what? 10 cents a gallon. You'll have to burn 3000 gallons to just equal the cost of the tune. At 18mpg that's 54,000 miles just to break even. Your logic is flawed. First, if your running 93 in it stop and just run 91. Cobras will run on 91 all day long and probably 89 considering there completely aluminum and what 9.5/1 comp. Even if it was 10/1 it would still run on 89 just fine. Don't waste your money having the car tuned.

 

[Awt2]

You'll spend $300+ on a tune and you will save what? 10 cents a gallon. You'll have to burn 3000 gallons to just equal the cost of the tune. At 18mpg that's 54,000 miles just to break even. Your logic is flawed. First, if your running 93 in it stop and just run 91. Cobras will run on 91 all day long and probably 89 considering there completely aluminum and what 9.5/1 comp. Even if it was 10/1 it would still run on 89 just fine. Don't waste your money having the car tuned.

You raise a very good point. I believe I'm just going to keep the Cobra, and start with what little mods I can afford. Im going to run 91 Octane in it from now on. It feels nice knowing I have the nicest car in school. I just got to catch up with my dad (speedwise), and his terminator

 

[truebluedevil02]

I just got to catch up with my dad (speedwise), and his terminator

Procharger, boltons, good tune and that will get you pretty close depending on his mods.

 

[Chicostang]

Keep the cobra!

 

[Awt2]

Procharger, boltons, good tune and that will get you pretty close depending on his mods.

Pullied, tune, exhuast.

 

[clean93]

when i was your age all my older buddies in high school had mustangs and i wanted one. but i got a 90 honda accord instead and banked up my money for a few years to buy the red fox i have now and had money left in the bank to build it. im 28 now and happy i made that choice and i still have both cars lol

 

[Awt2]

later on, when I have the money I plan on picking up another car. but, for now, on enjoying having a nice car and being able to say I have the nicest car in the parking lot.