Why are used 03/04 cobras so expensive?

Discussion in 'SVT Tech Forum' started by 93 teal terror, Dec 3, 2005.


  1. Uncle Meat

    Uncle Meat Banned

    Joined:
    Jun 13, 2002
    Messages:
    3,860
    Likes Received:
    4
    Trophy Points:
    0
    Location:
    Prattville, Alabama
    I was offered an '07 for MSRP over 4 months ago. All I had to do was give the dealership a $500 non-refundable deposit. I gave this purchase opportunity away to a friend.

    U.M.
     
    #21
  2. 93 teal terror

    93 teal terror Founding Member

    Joined:
    Jul 14, 2001
    Messages:
    1,049
    Likes Received:
    0
    Trophy Points:
    37
    Location:
    Durham N.C.
    Well I test drove that 03 vert here are the pic of it
    [​IMG]
    [​IMG]
    [​IMG]
    [​IMG]
    [​IMG]
    [​IMG]
    [​IMG]

    The car was overall in pretty good shape. The guy didnt take real good care of it. Junk in the bottom of cup holders, mud in the interior, broken tail light (middle one) mud on tires, dirty engine bay. In driving it a green light that kinda resembled a supercharger kept coming on when I floored it. What does that mean? Also it was hard to get into 5th gear, kept popping out. The road where that guy lives is horrible and I think it may need new shocks/struts b/c of it

    Now hes sayin he wants 26.5k do you guys think its worth it, or should I run away. I gave him a $200 deposit to hold it for me for a week. It does have a borla exhaust on it
     
    #22
  3. 04sleeper

    04sleeper Founding Member

    Joined:
    Jun 22, 2002
    Messages:
    2,689
    Albums:
    1
    Likes Received:
    9
    Trophy Points:
    49
    Location:
    Dallas, TX
    For 26.5K I would wait. IMHO
     
    #23
  4. 04sleeper

    04sleeper Founding Member

    Joined:
    Jun 22, 2002
    Messages:
    2,689
    Albums:
    1
    Likes Received:
    9
    Trophy Points:
    49
    Location:
    Dallas, TX
    That engine looks like heck. Heres what mine looked like when I bought it.
    [​IMG]
     
    #24
  5. mkkrs1

    mkkrs1 Member

    Joined:
    Dec 2, 2004
    Messages:
    49
    Likes Received:
    0
    Trophy Points:
    6
    Location:
    indian trail,nc
    the green light is traction control. it comes on when the car starts spinning.

    does the guy live on a dirt road, engine looks like crapola . I would have passed on this one. IF you buy from a individual you may want to check into getting a warranty from someone. My cooling fan and alternator have went out since I purchased mine in july. Glad I got the extended warranty :nice:


    mike

    89-718 convert

    03 Cobra
     
    #25
  6. blkstangman88

    blkstangman88 New Member

    Joined:
    Apr 7, 2004
    Messages:
    649
    Likes Received:
    0
    Trophy Points:
    0
    patiences is the key!!! i looked around for 2 weeks b4 i got the car ive loved for the last 10 years almost, a 97 cobra, ya its not a 03 s/c model, but the attention i get from ppl is still the same......"OOOOOOO"....."AAAAAAAH"
     
    #26
  7. BensBACobra

    BensBACobra New Member

    Joined:
    Dec 6, 2004
    Messages:
    73
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Mobile, Alabama
    i dont doubt that. its interesting to me, however, that everyone and their brother say they "reserved" an gt500. how can a dealership promise you something that is not even in production yet? dealers place orders, but how do they know how many they will get? it just seems like bad business to be promising every shrub off the street they will get a gt500 simply by "reserving" it. personally, i dont think dealers know ****.
     
    #27
  8. Uncle Meat

    Uncle Meat Banned

    Joined:
    Jun 13, 2002
    Messages:
    3,860
    Likes Received:
    4
    Trophy Points:
    0
    Location:
    Prattville, Alabama
    Well this is the same dealership I got my '03 from (Marshall Mize) and they are a huge SVT dealership located in Chattanooga TN. They seem to be well connected as far as supply goes! I know they did not offer to reserve an '07 to just anyone who walked in off the street. As far as I know it was kind of invitation only.

    U.M.
     
    #28
  9. LordWarlock

    LordWarlock New Member

    Joined:
    Dec 11, 2005
    Messages:
    0
    Likes Received:
    0
    Trophy Points:
    0
    I just spent 27,900 on an 04 cobra hardtop, after looking at the market for 3 months or so, it was the cheapest one I could find in a 500 mile radius, and I found it in town. Sure the mystichrome vert woulda been nicer, but I prefer hardtops, and can always repaint the black car later if I get tired of it. (there is a mystichrome convertible local for 31.9k.)

    Roughly, it is rare to find a car 10k less than sticker price until it is 3 years old or older. And limited production models tend to hold their value longer than run of the mill models do. If you want a cheap stang, find a 3 year old gt and supercharge it. But if you really want a cobra, be prepared to shell out some serious cash for it. Since the new shelby's won't even come out for another six months or longer, I wouldn't expect the prices to drop much. At least until the newer cobra is out in quantity.

    By the way, the pics on page one show that he didn't take very good care of the car, or drove on dirt roads often. My cobra's engine looked clean enough to eat off of it. As nice as they do new. I rarely clean the motor of my cars, but i've never let one of my cars get that messy.

    If you want a custom twin turbo stealth instead, I can sell you one of those. Its as fast as the cobra is, but more expensive to fix when you break parts.

    LW
     
    #29
  10. LUCAFU1

    LUCAFU1 Founding Member

    Joined:
    Apr 19, 2001
    Messages:
    498
    Likes Received:
    0
    Trophy Points:
    16
    Location:
    Tucson
    this is the best cobra/mustang ever made. its worth it. I bought mine new and i paid full price. no regrets. it was the last one they had and it was a 03 model. i bought it in april 04.

    btw im good friends with some peeps here at a dealership and last summer they were taking deposits for the shelby for certain folks. i passed but later herd that they will be marked up for sure. just expect it, it will happen.
     
    #30
  11. 04sleeper

    04sleeper Founding Member

    Joined:
    Jun 22, 2002
    Messages:
    2,689
    Albums:
    1
    Likes Received:
    9
    Trophy Points:
    49
    Location:
    Dallas, TX
    Agreed.
    I paid 28K for mine with 10K miles on it locally.
    Heres what they are going for around here.
    http://www.getauto.com/autolinks_cardetail.html?x_dealer_id=AAFo5&vinNum=1FAFP48Y94F100890
    http://www.getauto.com/autolinks_cardetail.html?x_dealer_id=AAFo5&vinNum=1FAFP48Y54F155854
    http://www.getauto.com/autolinks_cardetail.html?x_dealer_id=AAFo5&vinNum=1ZVHT85H455181702

    So go figure.....


    i also heard from my dealer that they will be marked up anywhere between $5000 and $10,000:Damnit: so get your checkbook ready.
     
    #31
  12. Warcat

    Warcat New Member

    Joined:
    Dec 23, 2005
    Messages:
    1
    Likes Received:
    0
    Trophy Points:
    0
    I'd try EBAY. Thats where I bought my 1999 Cobra 2 months ago. It had 26,100 miles on it, and I paid $15,100. There are some really nice cars on ebay, and I'd bet you can find one for less than you can in town. Only thing is shipping will cost anywhere from $600 to $1200.

    Also, if the car is misrepresented by the seller, I believe EBAY will buy it back from you for the sale price. Just make sure you use carfax, and make sure you ask the seller all kinds of questions. Also, it's much better to buy from someone who has sold more than a few items on ebay. If someone has never sold anything, I'd stay away.
     
    #32
  13. Voodoo Snake

    Voodoo Snake New Member

    Joined:
    Sep 23, 2005
    Messages:
    2
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    IL
    going price = limited production, highest performance mustang ever built, high demand, and just plain awesome car.
     
    #33
  14. duckfood

    duckfood New Member

    Joined:
    Jul 30, 2005
    Messages:
    3
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    GA
    i shopped around for my 03 cobra. the price range was around 27k to 30k. i was not going to go for more than 25k. after weeks of searching and patience, a few dealers started dropping their asking price to below 25k. some dealers are just unbelievable.

    just be patient, make sure that the dealers you visit are sure you are serious about a purchase and your asking price. i am sure you will find something in your range.
     
    #34
  15. __Z__

    __Z__ New Member

    Joined:
    Nov 18, 2004
    Messages:
    13
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    North Carolina
    Since your in nc you can always try carmax... they got 2 03 cobras listed right now for around 25k.. one is a blue vert with 35k miles for 25.6k and one is a red hard top with 16k miles on it for 25k.. so its all in where ya look.. not sure how long they will have them just seen it on the site since i was kinda looking so it may be somewhere to look both would be transfered in from atlanta for 200 buxs
     
    #35
  16. cobrastrike

    cobrastrike New Member

    Joined:
    Jan 14, 2006
    Messages:
    1
    Likes Received:
    0
    Trophy Points:
    0
    I am looking at an 03 cvert, 8000 miles, mint, $28,900 from what I have been researching it seems like a good deal.
    93 teal terror, it is the twin to the one you show pics of but, not the eng. bay, the one you are looking at is awful dirty for such a newer car, I would question the owners maintence records? Did you buy it?
     
    #36
  17. 93 teal terror

    93 teal terror Founding Member

    Joined:
    Jul 14, 2001
    Messages:
    1,049
    Likes Received:
    0
    Trophy Points:
    37
    Location:
    Durham N.C.
    Nope, I actually found a really good deal on a 02 gt with 3.5k miles on it for about 10-12k less than a cobra. It certainly wont have the performance of the cobra but Ill get a ton of use out of the gt
     
    #37
  18. Joe 5.0

    Joe 5.0 Founding Member

    Joined:
    Feb 1, 2002
    Messages:
    1,198
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Macomb, MI (metro detroit)
    My dad paid 30K for a 03 Black Anniv Vert, such an awesome deal & an awesome car. They also gave him (k for his 00 GT with 60k on it. :o

    They were VERY hard up to sell the car, as it had been on the lot for 6 mos.
     
    #38
  19. WickedDropTop

    WickedDropTop New Member

    Joined:
    Jul 22, 2004
    Messages:
    35
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    San Diego
    The price for these cars is very reasonable considering the original sticker. The verts were 36-38. I got mine for 28 with 10k on it. You just have to look. Chances are, as with any mustang you would by, the car has been abused. Would you really buy a 390hp car, put some easy upgrades on it to push to 410 or so at the wheels and not drive it hard?
     
    #39
  20. 70MustangGrande

    70MustangGrande Founding Member

    Joined:
    Feb 23, 2002
    Messages:
    992
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Somewhere in Alameda, California
    Okay, lets see what I can find.....

    Center of Durham Zip code should be 27707 and with that I can create a 100 Mi. radius collection through Autotrader.....

    Hmm, Crystal White '03 SVT for $26,500 with 18K on the Odo. Minimal mods:

    http://autotrader.com/fyc/vdp.jsp?c...=2003&isp=y&pager.offset=0&lang=en&cardist=96

    Found this on Autoextra: Dk Red '03 SVT for $26,980 with 28.7K and a slew of aftermarket goodies.

    http://www.autoextra.com/vehicledetail/adid-30307192/2003/ford/mustang-svt-cobra/raleigh/nc

    And a Black Onyx '03 SVT for $26,900 with 35K on the clock.

    http://cars.com/go/search/fs_search...-descending|Z-27707&aff=national&aff=national

    If you wait it out, you can find them for $24,500 but you have to keep searching. The '03 and '04 won't loose demand for a while.
     
    #40

Share This Page