Houston94vert
Founding Member
This is a bold prediction. If a 3 year old GT500 will be $25k, that is pretty much typical depreciation from MSRP ($45k). According to Edmunds.com and what I have seen on E-bay a 2004 Cobra in excellent shape with average mileage can be bought for around $25k (about 70% of the original MSRP). So 70% of $45k is about $32k. My prediction is the used GT500s will be selling closer to $35k in 3 years. If so, the guys who bought them for $65k will be waiting a very long time to not be feeling totally ripped off or that the 'investment' was worth it.
How many of these GT500s is Ford planning to build? That is obviously the key factor. I seem to recall Carrol Shelby saying he wanted Ford to build as many as they had buyers for. I wonder how he feels about the price-gouging going on with the cars carrying his name. I believe it will do irreparable harm to his legacy.
The only reason the 03-04 cobra are currently holding value, is the GT500. Before the gt500, they were a lot cheaper. I know this because that's how I got 2004 Cobra. And when I traded it in back in november, they gave me more for the car than what I paid.
The market flexes based on the newest mustang. With the GT500 at such a high price, you will notice regular mustangs benefiting from this as well. But as soon as the 2008's hit, I can bet the prices will go down.
Oh and I've seen 2003-04 Cobra's lately go for 20-25k depending on mileage and condition.
Also people forget the market changing with the Dodge Challenger coming out and the new Camaro. Look for the mustang to lose it's lust.