01 Mustang Cobra buying advice

[punkmanmatthew]

Hi all,

I was looking at an 01 Cobra with around 15k miles on it looks new.

I was looking at kbb values and other areas and it's not worth much like around 11,500.
They are asking almost 17k for the car so I'm a little worried paying that much more over what it's actually worth.

I was wondering what a good price I should offer is or if it's one of those however much it's worth to me kind of things?

I was either going for the GT or this Cobra but can't really spend 17k on the Cobra and don't want to overpay b/c I really don't know how much this car should be going for. I've tried to do a lot of research on it but I'm still not sure what a good price is.

P.S. I'd really like the cobra over the GT.

Thanks for your help,
Matt

 

[wmburns]

I have driven a 2001 Cobra and a 2003 Cobra. As well as several GT's. My advice.

If the $$'s matter to you and you are looking for a fast car, then skip over the 2001 Cobra. It's not all that fast. It seems to me like the owner is wanting a premium because of the car's ultra low mileage and pristine condition.

The KBB values are not really a good indication of this car's value as for it's unusual condition. The person buying this type of car is looking for a garage queen.

A 2001 Cobra would make a good car for modification. However it doesn't make sense to me to pay a premium low mileage stock car and then modify it.

Another option is to take that 17k and look for a 2003-2004 Cobra. The 2003-2004 Cobra will not disappoint. However it can be an undertaking to find one in good shape. All too often these cars are highly modified and/or heavily abused.

I know what I would do if faced with the same decision and the $$ to spend. I'm an avid DIY'er. I would get a 2001+ GT and a KB super charger kit. Use that as an excuse to build my own!

 

[Neuron]

Every mile you put on the Cobra the value will drop, as stated above it is a garage queen. You are looking for a driver right? Not filthy rich right? If you like the Cobra then look for a driver. love the IRS and that big beautiful all aluminum DOHC 32V not to mention the cache of the Cobra(all sorts of people, even a toddler will notice it is a Cobra but not so much with a GT if this means anything to you), throw a little boost and away you go. '03 Cobra would be best(also has stronger IRS components too) but doesn't sound like it is in your budget. Parts can be problematic for the '96-'2001 Cobras since they built so few( I stockpiled parts like accelerator cable etc, since I bought a totaled '98 and stripped for parts for mine). Practicality and budget would put me in a GT(sold my Cobra and bought a GT since the Cobra is stick only and my knees...had a line on an '03 but after driving it my knees said no since the clutch was much stiffer than my '98's).