I need your help Stangnet

Well I am about to buy a car and I am hung up between the 2.

First option:

1998 Mustang Cobra, laser red, paint is a 8/10, interior is a 8/10. Has 120k miles. Has a short throw shifter, o/r X pipe, SLP LM1 catback, 4.10 gears, and an SCT tune. Also has 18" Saleen wheels. Clean title in hand.

The bad: needs 2 new ABS sensors, slight tear in the driver seat, headlights need adjusted, rear gears need to be reset or replaced (they howl), broken odometer (stuck on 85k miles)

I can get the car for $6,000

Second Option:

1997 Mustang Cobra, laser red, paint is 6/10 (faded), interior is 8/10. Has 160k miles. Has a polished Vortech V1 S trim (8psi), Sniper tuning software, long tube headers, H pipe, flowmasters, 2" lowering springs, aftermarket upper/lower control arms, screaming demon coilpacks, FRPP wire set, full length subframe connectes, FRPP 3:55 gears, fresh bearings and fluid in rear end, transmission has 1k miles (still under warrenty), motor has 50k miles, battery relocated to trunk, new tires, Goodyear runflat fullsize spare, wideband, boost gauge.

The bad: Driveseat is cloth instead of matching leather, has hood pins, has a rebuilt title (theft recovery).

I can get the car for $5,000

I do know for a fact that the 98 Cobra has been beat on pretty hard. I know the guy that owned the car before the current owner, and for about 2 years straight it was at the drag strip every weekend. The 98 Cobra is local, and the 97 Cobra is about 7 hours away. The guy with the 97 Cobra has sent me 3 video's of him giving the car a complete walk around, popping the hood, starting it up, revving it up, ect.

The way I am looking at it is, Both cars need to have the driveseat reupholstered. The 98 needs ABS sensors, new gears, and odometer fixed. The 97 needs to be repainted ($2,000, I got the hook up on paint), and a new hood (im not rolling with hood pins).

So I can get the 97 for $1,000 cheaper, it's already supercharged, and has full bolt on's and suspension work. But it has a rebuilt title, needs a new hood and needs paint work (I'm not 100% sure it needs to be repainted, I havent seen it in person, so it's possible it just needs buffed).

What would you do Stangnet?????
 
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I wish my car wouldn't have decided to be a douche so you could have bought it...but I already know I want too much for it too

Both those cars would scare the he'll out of me with those miles though but if you plan to rebuild then go with the vortech car
 
Here in NY I can find well maintained pre 99 Cobras with around 100k on the odometer for around 6k and NY is the most expensive place in the states. Im sure if you keep looking you can find better cars for 6k.
 
Honestly man, I wouldn't jump on either. Both sound like they have their share of issues and neither price seems low enough to offset that. Is this something you're dead set on, or have you thought about waiting for something else to come along?
 
Get the 97 cause it already has the Vortech on it and you said you are going to keep the car for a long time so resale is not a concern. Only thing I dont like is the 160k miles on the car, the suspension is going to be well worn and you will have to worry about small things breaking every once in a while. Unless you do a full rebuild then you would have a new car sort of!
 
NEITHER, both are over priced, and not worth the asking price! I dont condone buying off e-bay however it does give a realistic value of the car your searching for. I could give you several reasons why "I" wouldnt buy either, but its your money and your decision. It really is a coin toss, but a salvaged title is never a good idea. If you ever crash the car the insurance company wont give you much for it.
 
after doing much more looking, I am going to pass on both.

I found a Mystic Cobra for 6k with 80k miles, a near perfect rio red 98 with less than 100k miles with a built rear and trans for 6k, and a chrystal white supercharged vert with 40k miles for 7k.