montly payments on an 03 cobra

Discussion in 'SVT Tech Forum' started by 2003gt, Nov 2, 2003.


  1. 2003gt

    2003gt Member

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    can anyone tell me what kinda payments you have on an 2003 cobra...with no downpayment or trade in ???

    thanks (60 months)
    #1
  2. JGS93GT

    JGS93GT Founding Member

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    I myself an curious too cause I want one, but don't want to sell my Notch, I want 2 stangs :)

    But I would like a '04 next year. thats my goal
    So what kinda cash would I need................thanks
    #2
  3. Steel City

    Steel City New Member

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    No money down? You are probably looking at closer to $800 if not more depending on your intrest rate. If you cant afford to put money down chances are you cant afford the car. When there is a will there is a way! Good Luck!
    #3
  4. 01MustangMan

    01MustangMan Founding Member

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    You have to put something down, I put 8,000 down and my payment is $370
    #4
  5. Miklowcic

    Miklowcic Active Member

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    $$$$$$$

    $2000 a month!

    well not really...thats what I am paing to get it payed off in full by June or July

    Mine is $560 a month for a 5 year deal

    If I wait the entire 5 years I will have spent $51,000 for my cobra!

    So Im paying it off by the middle of the summer! Cant wait to have no car payment
    #5
  6. 2003gt

    2003gt Member

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    36,500 my price for an 03 conv. anniversary cobra

    $ 620.00 a month for 72mths
    #6
  7. gemex

    gemex New Member

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    36,500+ tax and license total 41,350 out the door, no money down 6years @ $612 a month for 03 1/2 anniversary cobra :nice:
    #7
  8. 330Cane

    330Cane Founding Member

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    For a 60 month loan, depending on the interest rate, a general rule of thumb is $20 per month for every $1000 financed. An example would be $30,000
    out the door, would come to about $600/month.
    #8
  9. ElectricGreen99GT

    ElectricGreen99GT Founding Member

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    The only money I put down on mine was the $2500 rebate . Then I added a 72 month extended warranty for $1600 and gap insurance an extra $8 per month and I'm paying $570 a month for 6 years . But like Miklowcic said I'm paying extra on it to get it paid off quicker . By the way I got an interest rate of 5.25% for 72 months .
    #9
  10. quiksoob2002

    quiksoob2002 New Member

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    I should be getting my cobra today or tomorrow. With trading in my sti and putting a small downpayment, I am hoping to keep my payment under $300.
    #10
  11. Narcosynthesis

    Narcosynthesis New Member

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    430 a month (60 months)
    31000 OTD
    6000 down

    Going to double payments and get it paid off quicker.
    #11
  12. Morpheusgpr

    Morpheusgpr Founding Member

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    I am paying 312 a month on my 2001...20,195 total price...took a loan for 16,3xx paying the taxes myself and put 3800 down on it.

    Its a **** but I got a decent interest rate at 5.25% from my bank. I am hoping to pay it off in 2 years. I need some OT at work lol gotta get this pre-basic course done but they just post-poned my training.
    #12
  13. rcaldwell00

    rcaldwell00 New Member

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    Still negotiating on an '03 Vert, but through Capital One Auto Finance I'm at $590 on 60 mo assuming my car cost is between $31-$32K (no tax title, etc).

    RC
    #13
  14. Ron Jeremy

    Ron Jeremy New Member

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    Anything over $325 - $350 per month is expensive. It's not worth it to pay over that for a Cobra with a 5 and 6 year loan. It's better to try and put down as much money as you can to get the payments close to $300 - $350 per month for 4 years.
    #14
  15. Ron Jeremy

    Ron Jeremy New Member

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    By the way, what do the people in here that are paying $500-$700 per month for their Cobra's do for a living? I bet that you people in here who own a Cobra have a really good high paying job to be able to afford a $500-700 per month auto loan. And that's NOT INCLUDING the other monthly expenses like the mortgage that you have to pay for your house and for your other bills. Or do you all just work for your car payments? Just curious because I myself am thinking of buying a Cobra down the road. And my salary will probably be between $40,000 to $50,000 gross per year and no more than that.
    #15
  16. Ron Jeremy

    Ron Jeremy New Member

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    Well?..........Anybody?
    #16
  17. Matts01cobra

    Matts01cobra New Member

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    Well I work as an engineer in the automotive industry. I just cleared 60k on my last pay check. I bought my house 10 years ago and I think it is lowest bill I have every month. You sound discouraged and probably still young. Don't get discouraged just keep working and don't do anything stupid like put yourself in debt by living a lifestyle supported by credit cards. If you can't afford a new cobra then get something you can afford. I have been there myself. I am 32 now and was 30 years old before I got my cobra and that was the first and only new car I have ever had. My point is be patient it will come. And remember they come out with a bigger stronger faster car every year. So if you dont get an 03 I bet an 04 will be better. And the new body style comes out in 05 and I would bet that in 06 SVT will have a bad ass new body style cobra. So do whats right hold your head high (even if yer drivin a pinto) and never give up.
    Man I should have been one of them motivational speakers :D
    #17
  18. Narcosynthesis

    Narcosynthesis New Member

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    I'm a single Captain in the Army. More money than I know what to do with, the Cobra is just a toy. Most of it was paid for from when I got combat pay when I was deployed to the Philippines last year. You should do the same since you say you are in Kabul.


    I don't pay 500-700 a month on mine either. More around 400. I could have put a bigger DP down but wanted to keep money in the bank.
    #18
  19. ElectricGreen99GT

    ElectricGreen99GT Founding Member

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    I work for CSX as a locomotive engineer and make $60K + a year . I make my house payment , wife's car payment and my car payment without any problems . I still have money to enjoy after paying all the bills . My wife does work and she pays the other bills , we manage to get by just fine :nice: .
    #19
  20. Ron Jeremy

    Ron Jeremy New Member

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    Actually, I'm not in the military. I am just a regular guy with a decent white collar job working for the state making around $40,000 gross (before taxes) per year. My wife works, but she works part time and only makes around $10,000 GROSS per year. I would say that I am the sole breadwinner in the family because I make 4 times as much as my wife does. I don't have any children. I own my own home and have owned a home now for 10 years. My home is a multi-family so the rents that I get pay the mortgage. I only owe a few hundred dollars on my credit cards. The only debt that I have are on my short term current monthly bills which I pay in full each month. These bills are the regular every day bills that we all have like gasoline, mortgage, heat, utilities, auto insurance, auto payments, food, cable, miscellaneous, ect.. I pay all my bills, but I am very used to having only $230 to $290 per month auto payments that are 3 to 5 year long loans. Currently my car payment for my 2001 GT is only $288 per month. And my other car payment for my wife's car is only $230 per month. My wife's car will be paid off in 6 months and my GT will be paid off in 1 1/2 years. I currently owe about $6,000 on the 2001 GT. I usually put down anywhere from $3,000 to $7,000 on a brand new vehicle. I would like to be able to get away with putting down AS LESS AS POSSIBLE. This means putting down a minimum of $3,000 to a maximum of $5,000 and no more than that. I would also like to be able to use a trade which means that I will probably be trading in my 2002 V6 Mustang to buy a new Cobra. Currently I do not owe anything on my 2002 V6 Mustang. It's been paid off. The 2002 V6 Mustang has about 19,000 miles on it. I drive around 15,000 miles per year. APPROXIMATELY what is the 2002 V6 Mustang worth today and what will it be worth in 2006 when the new Cobra comes out? I am trying to figure out whether it's better to trade in my V6 Mustang right now for a new Cobra or to wait until 2006 or 2007 when the new Cobra body style comes out. I do NOT want to trade-in or to sell my 2001 GT. I really want to keep the GT. I would rather sell the 2002 V6 Mustang instead. And I defenitely want to buy a NEW Cobra and NOT a used one.

    Currently, I don't really see myself making any more money from my current job. I will more than likely be at the $40,000 annual Gross income level for a long time. One guy in here who owns a Cobra said that he cleared $60,000 from his job. If the $60,000 figure is NET AFTER TAXES then he must be making between $80,000 and $90,000 GROSS per year. Realisticly, how much do you think that one has to really make to be able to afford a brand new Cobra?? How much do you truthfully have to make to be able to afford a $500 to $600 per month car payment on a 4 to 5 year auto loan?? Give me an approximate annual GROSS INCOME range. I don't beleive that one should buy a vehicle with a high monthly auto loan payment and not be able to pay his other monthly bills. I am very conservative about this. I would like a realistic and down to earth honest breakdown of the diffferent GROSS (before taxes) annual income brackets and the realistic affordability figures of the various auto loan payment levels for each GROSS (before taxes) income bracket. The GROSS annual income brackets which I am interested in are: $35,000, $40,000, $45,000, $50,000, $55,000, $60,000, $70,000, and $80,000. Please be realistic with what each income bracket can afford regarding the monthly auto loan payments for a 4 to 5 year auto loan.

    I am getting the impression that a $40,000 per year gross salary is LOW and it is not enough to sustain even a $400 per month car payment let alone a $500 and $600 a month car payment for 4 to 5 whole years. Especially when there are other monthly bills involved which have to be paid each month which are other normal living expenses.

    I am hoping that the people in here who read this post can give me detailed information regarding the breakdown of the different auto loan payments that one can afford for a 4 to 5 year auto loan with each gross income bracket which I have listed above here. I hope that you can help me out so I can decide what is the best and shrewdest route to take. Thanks.
    #20

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