Seeking Educated advice on purchasing

[Michael Wilson]

I am buying my first 03-04 cobra. I will list what I am looking for and my options and hopefully some people who are very fMiliar with these cars can help me out

Wants

1. reliability ( I know it will take maintenance)
2. hold its value as good as possible
3. convertible
4. 04 or 10th anniversary

I am not concerned with massive amounts of power or razor sharp handling. I like these things but they are not a must. This will be a fun family weekend car.

QUESTIONS ON OPTIONS TO BUY


1. what mileage is the sweet spot (not enough might equal problems, too much might equal problems) ?
2. does modded equal more chance for issues ?
3. will stock hold its value better
4. are "collector type cars worth the premium" (aka hold value) ? example 04 mystichrome all stock 5,000 miles 36k vs 04 very light mods 25k miles 23k

hope this isnt to confusing any help would be greatly appreciated. I feel i should be able to get a very nice car stock with 20-30k miles for 22-25k and sub 10k miles for 26-29k?

thanks
Mike

 

[MG0h3]

I am buying my first 03-04 cobra. I will list what I am looking for and my options and hopefully some people who are very fMiliar with these cars can help me out

Wants

1. reliability ( I know it will take maintenance)
2. hold its value as good as possible
3. convertible
4. 04 or 10th anniversary

I am not concerned with massive amounts of power or razor sharp handling. I like these things but they are not a must. This will be a fun family weekend car.

QUESTIONS ON OPTIONS TO BUY


1. what mileage is the sweet spot (not enough might equal problems, too much might equal problems) ?
2. does modded equal more chance for issues ?
3. will stock hold its value better
4. are "collector type cars worth the premium" (aka hold value) ? example 04 mystichrome all stock 5,000 miles 36k vs 04 very light mods 25k miles 23k

hope this isnt to confusing any help would be greatly appreciated. I feel i should be able to get a very nice car stock with 20-30k miles for 22-25k and sub 10k miles for 26-29k?

thanks
Mike

1: really case by case. Obviously less miles will have less wear and tear but good maintenance and a cares for car with higher miles can be in better shape. Ya, if I car sat forever some issues may have developed but not real common unless it truly just sat for years.

2. Typically yes but again, you could have a neglected beat to piss car that was never modded. Worse is if the last owner put it back to stock. These cars are stout and handle the power well. That being said, extra power does put more strain on things.

3. Yes, if the mileage is kept low. A super low mile stock car always brings the best money. On the other hand, once the mileage is taken out of the value equation, a modded car brings more money. Example is a @75k mile stock car won’t bring the same money as a modded one most of the time.

4. They are worth the premium if you plan to keep the miles low and want to keep that value.

I wouldn’t spend the money on low miles unless you plan to keep it that way. Once you get up into the 30k mile range the price comes way down and putting another 20k on it won’t cost you $10k


Sent from my iPhone using the svtperformance.com mobile app

 

[VenomousDSG]

Yea, these cars are judged on a case by case basis. I've seen ones with 10K miles on them destroyed, and ones with 100K miles look like showroom vehicles. It all depends on how the owners took care of them. Personally. I wouldn't touch one of these cars unless it had under 80K miles and a low amount of owners, like 3 or under. Most have gotten around, and i mean AROUND.

The sweet spot, i'd say would be right around a 50K mile car with a couple owners. A clean car that falls in that category, stock or lightly modded, be expected to pay in the low to mid 20s. You can get them cheaper, but they are going to have higher miles, wear, and possibly mechanical issues, engines that have been beat on, or not tuned correctly.

 

[P49Y-CY]

Even for a family weekend car, the fun factor increases greatly with even just the most basic mods. It can stay very reliable that way as well. Good luck and have fun!

 

[03cobra#694]

I guess we need 3 threads now.

 

[Michael Wilson]

thanks for the replies. I feel like I can make an educated decision. This is a good site lots of good info. thanks again

 

[hotcobra03]

I'm not a fan of verts,

top issues..

these are extremely reliable,

very little matinance,

I do oil alot.
clean air filter
clean maf
I'm stock..plugs last 100k plus.

lots of tires

I had head issues 3 times only on drivers side..very costly repair..

clutch release bearing is problem that has happened the most..easy and cheap repair in driveway.

03 was better I think..


value.?

your shopping..20k is half of new price 14yrs later...not bad in a throw away world

 

[Goose17]

I have a friend with a low-mile 10th anniversary vert sitting in his garage that he is planning on selling. I told him about your inquiry.

The Terminators in general are appreciating. After all these years, they are still a highly desirable car. Low mile stock examples command the higher prices and cars like Mystichrome/anniversary/orange command the highest of those values. A nice thing about the Mystichrome and anniversary cars is it wasn’t just a color... the cars have an upgraded interior as well.

When getting ready to buy, do your homework. If you want a stock car, don’t assume it was always stock. Check for signs of mods. Also, checking the health of the engine is always a good idea if there are any signs of abuse or tampering.

Good luck in your hunt!

 

[HPLouis]

I wouldn't get a low mile stock car if you plan on modding it or driving it a lot. I bought a 2700 mile Mystichrome (it now has 4800 miles) two years ago and I paid $29,000 for it. If I could have done it all over again, I would have bought a 30-50K mile car with mods for $22-$24K or so. I know it's nice to start from scratch but you pay a premium for low miles and I feel it's not worth it if you're going to drive and mod it.

 

[gasyone]

I’m going to make a few people upset here but I don’t think the terminators have bottomed out value wise. There is at least one more hit they will take and it could be a significant one. Right now you can still finance a terminator however over the next 3-5 years that option will go away. This will make it very difficult to sell a terminator which could lower the prices significantly. I don’t want to see this happen however basic economics will come into play here in the near future. If you plan to get one, buy one you can drive and enjoy without being concerned about future values.


Sent from my iPad using svtperformance.com

 

[Michael Wilson]

swesome advice everyone! thNk you so much