Thinking of Purchasing 2001 SVT Cobra Convertable. CarFax Report

spacescape

Founding Member
I'm ready to pull the trigger on a 2001 Cobra Convertible in Mineral Gray with 62,000 miles on it. Current owner is the 3rd owner and has owned it since 2005. I haven't owned a Mustang since 2002 and turned it in around 2005 due to needing a larger family car. I was looking for a 1999-2004 Premium GT in Mineral Gray and a 5 Speed seeing this is what we had in 2002 but this Cobra showed up. The owner is retired and assuming in his 60's and him and his wife love the car and get a good feeling about it. He does have several bolt-on mods to the vehicle, upgraded the stereo to a bluetooth stereo with Sirius XM support and the top is a few years old. He also has some sort of tuner for the mods. Appears to be well maintained. Now, the CarFax report did show up with a accident in 2009 "Minor"... Is this something I want to avoid? They didn't mention anything about a accident but I guess that was 11 years ago and maybe it was just a minor bump and paint?

Accident reported: minor damage
- Vehicle involved in a rear-end collision with another motor vehicle
- Damage to left rear
- Left rear primarily damaged - Airbags did not deploy

Should we "keep looking"?
 
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Ace#1

New Member
Oct 14, 2021
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Newer member here also, I was kind of in the boat your in. I was looking at a 2001 Cobra with 36,000 on it with several 03-04 body mods and a 04 Mach 1 hood. It was a silver convertible 5 speed and it was a sharp looking car. But the day before looking at it along came 05 Roush Stage 1 one owner who was a 85 lady when she parted ways with it. So i bought the 05 instead. If it was a minor accident and fixed right it probably wouldn't be a deal changer for me personaly. My car just rolled over 64,000
 

manicmechanic007

Active Member
Sep 26, 2017
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I personally would not buy a wrecked one unless it's damn cheap
I have owned several
New paint sticking to bodywork does not last forever and you'll have to repaint it every 8 years or so
 

spacescape

Founding Member
Thanks. We discussed this with the owner and it turned out that the drivers door was damaged in a parking lot on the SUV's owners insurance paid to have it replaced. They have it documented but was surprised it even came up on carfax because they never reported it. It's a retired couple and they are parting with it because they are getting a new bronco to offroad a little bit (They used to do this before they had kids).