Should i get this cobra?

[TheOtherRobert]

My neighbor is selling a 93 cobra. It is red, and has 64k miles on it. It was stolen and stripped a while back, and somebody bought it, and put on fresh 306 motor, t-5 tranney & rear end, and painted it so drivetrain has < 500 miles on it. The guy selling it is still going to fix up a few flaws in the paint, and put on 3.73 gears. Has 30# injectors, 73mm MAF, 65mm TB, BBK short headers, flowmaster catback, 10.5:1, comp 282 cam. It has a reconditioned title. Majority of engine parts are correct 93 cobra(heads, intake, etc,). Looks clean and runs strong. He is asking 8900 for it. Should i consider it?

 

[poopnut2]

It's hard to say. Maybe if he would've replaced it will all original cobra equipment it would be worth around what he's asking. Unless all original equipment comes with it, a modded cobra is worth less IMO then a stock one.

 

[psucobra]

I think its a bit too much for a reconditioned title and without the original drive trane. I would try to get it for bout 6K.

 

[Digdoug]

I agree with psucobra. The rebuilt title makes it hard to sell....I've found you can deduct about 30% to 40% off of what a clean title car would sell for. That along with the lack of original parts I think would make this car closer to the value of a same vintage GT. Something between $5K to $6K.

 

[93Cobra#2771]

Yep, does seem a little high to me with the reconditioned title.

 

[john chingasos]

The question is do you want a limited cobra....or a bad ass mustang. If its the cobra you want...save 2 thousand more and buy a bad ass all original low miles, around 40-50K on the speedo, for about 9-11 thousand dollars;-)

 

[Snake01]

i would only do it if he wouldknock the price down a couple thous, 8900 is too much for a cobra thats not stock

 

[LEE93COBRA]

I don't think that it is a bad deal, providing the car is in good shape. If it has a cobra vin than that is all that matters.

You guys that think engine mods hurt the value of a cobra, have you priced modified GT's/ LX's lately. I searched for two months trying to find a decent V-8 foxbody at the first of the year and ended up buying a 5.0 sn95. I am sorry but a Cobra is worth more than a 5.0 coupe and in you guys mind that is all you think this cobra is worth. Average coupe price nowadays is $5500-$7000, unless mustangs are cheap as hell where you live.

I'll give you an example, I went and looked at an 89 5.0/5spd coupe back in January, Car needed paint and some very minor body work. It had over 250k miles on it. I took around $4100 in cash with me to buy it. They refused the offer. They wanted 4895 and would only come down to 4500. Period! Every fox body I looked at that wasn't a p.o.s. was $5k minimum.

 

[LEE93COBRA]

have thought about this some more. Price some rolling chassis cobras or ones that presently have damage. Here is a link to give as example. http://www.stangparts.com/home.cfm?section=rebuild/index Click on the 93 cobra and check out the price

Do the states you guys live in treat reconditioned cars differently? I know here in Alabama the only time a car has a salvage title is when it is bought and sold damaged (enough damage that 'totals' the car). Once it is repaired and inspected it gets the same title as any other car on the road. I have had 2 'reconditioned' cars in the last 14 years and neither one of them had anything on the title about being a salvage at one time or another. Also, the banks that I use loan the same amount of money on cars regardless of whether its a rebuild or not (providing they do not have any current damage

 

[psucobra]

Years ago I bought a Honda with reconditioned title and here in Texas, the title says reconditioned. Last year I could only get $10,500 for my Teal 93 Cobra with 83K miles, original drive train, very few mods, and very good condition. When you consider that that is only $1600 more than the $8,900 you can see my point. Right now the average price for a 93 Cobra is only about 10-13K and Im not talking about the ones with 2k original miles either. Im talking 50k + miles.

 

[LEE93COBRA]

interesting. Maybe 93 Cobra's are more plentiful in you guy's areas. I know for a fact I own the only one within an hour drive in any direction where I live.

I can't believe that you could only get 10.5 out of your car. at 80k miles. I wouldn't sell mine for that unless I did return it back to stock and my car is at 171k miles. Then again I take meticulous care of my car. Since I bought my car 5 years ago with 87k miles on the clock I have....

-Recovered the seats
-Replaced the carpet 2 times
-Bought a set of fake 93 repro mats for daily drving. (use oem mats for shows only)
-Painted the wheels once ( about to be twice)
-Painted the car (2 years ago)
-refinished the window moulding and tailights 3 times
-Re-tinted all the windows once (Front 50%, door glass 32%, and rears 20%.

This is not including the 'enthusiast' mods I have added over the years.
Although I drive it nearly everyday rain or shine, I keep the entire car (exterior, interior, engine compartment, fenderwells) clean!

I will go as far to say that you cannot tell a difference in my car with 171k miles vs. a 20-30k mile 93 cobra when you look at it in a parking lot, car show, or at the dragstrip.

 

[psucobra]

Sounds like a sweet ride Lee, I drive mine everday too and wouldnt have it any other way.

 

[Digdoug]

Originally posted by LEE93COBRA

Do the states you guys live in treat reconditioned cars differently? I know here in Alabama the only time a car has a salvage title is when it is bought and sold damaged (enough damage that 'totals' the car). Once it is repaired and inspected it gets the same title as any other car on the road. I have had 2 'reconditioned' cars in the last 14 years and neither one of them had anything on the title about being a salvage at one time or another. Also, the banks that I use loan the same amount of money on cars regardless of whether its a rebuild or not (providing they do not have any current damage

Hey Lee,

Here in OK (as in TX) once a car has a rebuilt or salvage title it remains on the title forever. The titles here are even a different color so you know right off. Banks generally won't loan any money on them, and people tend to be afraid of them (I'm personally not, but most are). So you have to find someone that isn't afraid of a rebuilt car, and has the cash to buy one. Makes it difficult. I have had a couple..the last one being a '97 SHO. I sold it in 2000 with 70K on it and had to take $6K for it, a good 40% below book value on a good titled car.

Also here in OK the car market is VERY bad. 2 mos ago I sold my '88 coupe with 160K miles on it for $3K. The car looked and drove like a 60K car, extremely clean and ran great, but I had tried to sell it for 6 mos without any luck.

Sounds like different states and different parts of the country may have better luck than others.

 

[TheOtherRobert]

well, to my knowledge, he hasnt had any serious offers on the car. I should be able to talk it down in price some, but i doubt he will go below $7500.

 

[LEE93COBRA]

I look at it this way. 10 years from now (maybe not that long) Our 93 Cobras (as long as they are in nice shape) are going to bring good money regardless of title, mileage, and 'certain' mods.

 

[biminiLX]

Lee: Agree completely. If you want to enjoy and drive the car, do what you want with the car and keep all the stock parts. It is still a Fox body and there a few parts available for resto. '93 Cobras will always hold they're value. -J

 

[19COBRA93]

I also agree with LEE. While my car is highly modified over stock, I wouldn't trade if for a low mileage/better shape stock one. I would love to have a stock low mileage one to keep in the garage and let appreciate in value, but I like to enjoy my cobra. I don't plan to ever sell it, so really, value isn't even a consideration. I drive this thing everyday/everywhere and I absolutely love it. It's getting close to 200k miles (197k) and I find I get more respect from people when they see how many miles are on it and how clean I've kept it. They like the fact that I drive it.

It's true that a high mileage modified cobra will never bring the money a low mileage stocker does, but what's fun in dusting your car off every couple weeks while it sits in the garage/storage? Don't get me wrong here, I do love low mileage cobras, but more than that I love to drive them.

Anyway, that's my take on things.

On a side note... Did you guys see the red '93 cobra on Ebay a couple months back that had, get this, 7 (seven) miles on it? It was pretty killer. I would trade my car and a couple other cars for that one.

 

[93Cobra#2771]

I wouldn't want one with 7 miles on it - I wouldn't want to drive it then (unless I still had my current one as well). One with a few thousand miles would be better, since you could then drive it to shows and not feel guilty about it...