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Author
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Topic: Do Cobras hold their value??
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98_No_Bra
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Member # 2351
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posted
 
 
I owe a ton of money (around 15k) on my Cobra. It has 93000 miles on it and the blue book is 6k for it. Has anyone sold theirs recently or seen 98 Cobras selling for more than 6k?? I want to try to get the most for it since I will be paying off the neg equity and that alot of equity by KBB pricing. The bank actually made me get gap insurance since it was depreciating.
Someone was looking at a 93 Cobra here for 10k so I am just wondering what the fair market value is. I see alot of Cobras in Granite Bay Ca.
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Better to burp and taste it then to fart and waste it!!!
Posts: 695 | From: Hell, Ca | Registered: Jan 2003
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1FAST89GT
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Member # 5071
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posted
u should be able to get more than 6k
Posts: 4915 | From: VALLEJO | Registered: May 2004
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liftedF150
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Member # 868
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posted
you can easly get 12k for a nice 98 cobra
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GO SHARKS!
Posts: 3259 | From: Discovery Bay | Registered: Feb 2002
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98_No_Bra
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Member # 2351
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posted
Gap insurance only covers the car if it is totalled. They pay the neg equity on the car. The thing is that if KBB says it's worth 6k then a finance company will only finance that amount so unlesss someone has 12k and is willing to pay that much then I am kinda screwed. It seems like it's depreciating quickly for a Cobra.
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Better to burp and taste it then to fart and waste it!!!
Posts: 695 | From: Hell, Ca | Registered: Jan 2003
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84GT5.0
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Member # 5227
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posted
i must be stupid, because i dont know what "gap insurance is" ????? Can someone enlighten me?
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RIP Russell W. Krill
Posts: 1300 | From: San Jose | Registered: Jan 2005
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RixSikCobra
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Member # 5058
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posted
A well taken care of Cobra should hold it's value a bit better than, say, a GT. A Cobra is considered a "specialty" car due to it's exclusiveness(only about 3-7k produced annually in the US), and that the motors are hand built. The '03 and up Cobras are really gonna hold there value if they're taken care of and have reasonable miles. I'm not saying that you're gonna make money, but should hold value better than most mustangs. ![[patriot]](graemlins/patriot.gif)
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2004 Terminator
Torch Red Vert
Built,Ported,Cammed,Juiced
Posts: 2120 | From: Pleasanton | Registered: Nov 2004
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RixSikCobra
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Member # 5058
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posted
quote:
Originally posted by 84GT5.0:
i must be stupid, because i dont know what "gap insurance is" ????? Can someone enlighten me?
If the car is totalled or stolen, etc, the difference between actual value of the car and what you owe is paid by the "insurance".
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2004 Terminator
Torch Red Vert
Built,Ported,Cammed,Juiced
Posts: 2120 | From: Pleasanton | Registered: Nov 2004
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t top freak
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Member # 6269
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posted
cobras dont really hold their value very well unless its cherry. i had one hell of a time trying to sell my old one ![[Frown]](frown.gif)
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1994 cobra - sold!
1986 t top gt - parted out and sold!
on the hunt for another
Posts: 1023 | From: sacramento | Registered: Dec 2005
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03SVTPower
CAFords OG
Member # 518
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posted
quote:
Originally posted by RixSikCobra:
A well taken care of Cobra should hold it's value a bit better than, say, a GT. A Cobra is considered a "specialty" car due to it's exclusiveness(only about 3-7k produced annually in the US), and that the motors are hand built. The '03 and up Cobras are really gonna hold there value if they're taken care of and have reasonable miles. I'm not saying that you're gonna make money, but should hold value better than most mustangs.
You should talk to Pat, he made out pretty well i think, but when i saw the car, i didnt even try to jew him down, i thought it was well worth what i paid for, atleast he made his money back on his rims and a few of his mods that were already done. ![[dance]](graemlins/dance.gif)
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2003 Redfire "AED" Cobra R.I.P
Posts: 3481 | From: Nor-Cal | Registered: Oct 2001
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outlawd94cobra
SR.CITIZEN
Member # 265
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posted
quote:
Originally posted by t top freak:
cobras dont really hold their value very well unless its cherry. i had one hell of a time trying to sell my old one
In the end, Cobra or not, they're still FORDS. The price he gave on the 98 Cobra sounds about right especially once you start hitting those high mileages.
Posts: 635 | From: Stockton, CA | Registered: May 2001
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t top freak
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Member # 6269
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posted
quote:
Originally posted by outlawd94cobra:
quote:
Originally posted by t top freak:
cobras dont really hold their value very well unless its cherry. i had one hell of a time trying to sell my old one
In the end, Cobra or not, they're still FORDS.
i made that argument once and got yelled at on here
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1994 cobra - sold!
1986 t top gt - parted out and sold!
on the hunt for another
Posts: 1023 | From: sacramento | Registered: Dec 2005
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84GT5.0
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Member # 5227
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posted
quote:
Originally posted by RixSikCobra:
quote:
Originally posted by 84GT5.0:
i must be stupid, because i dont know what "gap insurance is" ????? Can someone enlighten me?
If the car is totalled or stolen, etc, the difference between actual value of the car and what you owe is paid by the "insurance".
thats a good think to have then!!!! well i own mine , but when i but my 04 cobra in a few months ill need that!!!!!
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RIP Russell W. Krill
Posts: 1300 | From: San Jose | Registered: Jan 2005
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SEMPERFI510
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Member # 627
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posted
yeah Saleen's hold their value better than most Ford's but they are also pretty expensive. I want this S351 though ![[worship]](graemlins/worship.gif)
Posts: 1766 | From: San Francisco, CA | Registered: Dec 2001
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outlawd94cobra
SR.CITIZEN
Member # 265
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posted
quote:
Originally posted by t top freak:
quote:
Originally posted by outlawd94cobra:
quote:
Originally posted by t top freak:
cobras dont really hold their value very well unless its cherry. i had one hell of a time trying to sell my old one
In the end, Cobra or not, they're still FORDS.
i made that argument once and got yelled at on here
lol, whomever can yell & argue all they want. The truth always hurts. For now, the 03 on up Cobra's seem to be holding well, but it's only been 2-3 years. Check on them in another... say 3.
They're still fun cars though, and I'd still rather purchase a Cobra or GT instead of a gas-saver.
Posts: 635 | From: Stockton, CA | Registered: May 2001
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Fostang
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Member # 3752
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posted
I'll give you 6 for it. ![[Smile]](smile.gif)
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67' Fastback TT 408
67' Camaro Lsx
64' Corvette Fuelie
57' Chevy Bel Air Lsx
68’ Pony Convertible
66’ Pony Coupe
Posts: 3011 | From: Stockton/Danville | Registered: Nov 2003
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SFvert
Drama kids have no place here
Member # 3965
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posted
wasnt this cobra, somebody;'s on this board???
http://www.craigslist.org/sby/car/129897540.html
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R.I.P. 89 LX Sold the 90 Vert,
I bring the Amber Lamps!!!
[IMG]http://images.encyclopediadramatica.com/images/5/53/Epicbeardmanwin.jpg[/IMG]
Posts: 3706 | From: the city by the bay | Registered: Jan 2004
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CLEAN 93GT
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Member # 5946
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posted
if you have gap insurance just fuckin get it stolen..... leave it unlocked with the keys in it.. someone is bound to take it for you...LOL
Posts: 159 | From: Oakley | Registered: Aug 2005
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Wildfire532FB
CAFords OG
Member # 1482
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posted
My dad's 98 only has 15K miles on it ![[Razz]](tongue.gif)
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(]]]_ _ o _ _[[[)
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68 Fastback
84 CJ7
94 HMMWV
95 GT
03 F350
17 Fusion Hybrid
Posts: 17578 | From: 530 | Registered: Jun 2002
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cobraracer46
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Member # 1142
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posted
This thread is a classic example of why one should never finance or buy a new car because for starters, any vehicle will significantly go down the toilet in value and if you finance a rapidly depreciating asset like a car, you will always end up upside down on it and owe more than it is worth before the loan is paid off. As an example, if you go out and buy a 06 GT and finance it, 4 years later, it will loose over 60% of it's value. The only way to protect your self financially and not loose a shit load of money from depreciating vehicles and negative equity is to purchase a used car with cash that is at least 2 years old.
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2001 SVT cobra convertible with a Viper T56, Fikse wheels, Griggs frame kit, roll bar, Vortech, 4:30 gears, brembo GT brakes and more.
Posts: 1172 | From: Woodside California | Registered: Apr 2002
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hidnn.o.s.
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Member # 1219
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posted
quote:
Originally posted by cobraracer46:
This thread is a classic example of why one should never finance or buy a new car
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R.I.P. Willie G. You are missed on this forum
Posts: 15950 | Registered: Apr 2002
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liftedF150
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Member # 868
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posted
quote:
Originally posted by cobraracer46:
This thread is a classic example of why one should never finance or buy a new car because for starters, any vehicle will significantly go down the toilet in value and if you finance a rapidly depreciating asset like a car, you will always end up upside down on it and owe more than it is worth before the loan is paid off. As an example, if you go out and buy a 06 GT and finance it, 4 years later, it will loose over 60% of it's value. The only way to protect your self financially and not loose a shit load of money from depreciating vehicles and negative equity is to purchase a used car with cash that is at least 2 years old.
ya because we all have 20k just laying around the house right ![[Roll Eyes]](rolleyes.gif)
I do agree with the financing a new vihicle, but if you are planing on keeping that car for a long time then by the time it is payed off you wouldnt have to worry about paying negative equity.
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GO SHARKS!
Posts: 3259 | From: Discovery Bay | Registered: Feb 2002
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outlawd94cobra
SR.CITIZEN
Member # 265
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posted
quote:
Originally posted by cobraracer46:
This thread is a classic example of why one should never finance or buy a new car because for starters, any vehicle will significantly go down the toilet in value and if you finance a rapidly depreciating asset like a car, you will always end up upside down on it and owe more than it is worth before the loan is paid off. As an example, if you go out and buy a 06 GT and finance it, 4 years later, it will loose over 60% of it's value. The only way to protect your self financially and not loose a shit load of money from depreciating vehicles and negative equity is to purchase a used car with cash that is at least 2 years old.
This guy again? So explain to me how paying for a 14K car in cash up front is helping your credit status again? Also, what is so different from dropping 12K on that same car, financing the other 2 and having 2K worth of positive payment history on your credit report.
Haha, I remember those topics of conversations ![[BS flag]](graemlins/bs_flag.gif)
Posts: 635 | From: Stockton, CA | Registered: May 2001
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Gnari-Garage
CAFords OG
Member # 3164
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posted
I would have to say KBB doesn't mean anything when it comes to mustangs. As you see like 88-93 mustangs going way over blue book. So I quess its just worth what someone is going to pay for it. Inregards to the 93 cobra, That is a rare car and They will always sell for good price.
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2017 McLaren 570GT
2019 Audi S5
2017 Tundra 7" Lift, 37" Tires
Posts: 4017 | From: 916-sacramento | Registered: Aug 2003
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siri95
CAFords OG
Member # 2840
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posted
quote:
Originally posted by sf89lx:
wasnt this cobra, somebody;'s on this board???
http://www.craigslist.org/sby/car/129897540.html
Thats what I was thinking...
this is the color im looking for too!
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1995 Mustang GT (sold)
1992 Ford F-150 XLT (sold)
1986 Mustang SVO (sold)
Posts: 783 | From: 510 | Registered: May 2003
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