Was thinking of getting a 96-98 Cobra. Are there any issues with these that I need to look for or would it be better to stear clear of this model? There are some around my area with 30-40K miles for $9-10K.
Great car, wish I would have bought one. 9-10K seems a bit high, but with that low of miles and if they are in perfect condition I'd say go for it. Be sure the paint is in good condition, hasn't been in an accident, and listen to be sure the engine doesn't have any strange noises (pretty straightforward stuff).
One of the best looking engine bays in Mustang history and you can't beat the hood and front bumper combo. With full exhaust, 4.10's, some suspension mods, and a tune they can be really fun cars
I absolutely love my 96 Cobra but they had some cooling issues, if you go with a 96 model see if they had the 97 upgrade done (air condenser and radiator I believe, there's a ford TSB on it). I replaced my AC condenser and it made a world of difference, plus I got a tuner and turned my fan on at lower temps, that helps too. They fixed the issue in 97.
I would keep my eyes open and try to pick up a car like this: Mach 1
There's some pretty decent deals that pop up around here from time to time. I personally cannot justify spending that much for a 10 yr old car with little to no additional power than the PI motor.
I'm not stuck on the model or year. That's just what I found in my price range. I like the Mach 1's a lot too. Would get one if I could find one for about the same price with decent mileage. Your example was pretty good.
I'm also looking for the best possible resale as this is a stair step to a 2011 GT. Just can't justify buying new and I want to try to do it without financing anything.
I hear ya. I was looking for about 5-6 months in my price range with no luck. I went and looked at about 15-20 mustangs and each one had something I didn't like. I came upon the one I have now, and a Mach 1 with a little less miles for $2500 more. I couldn't justify the price though.
Moral of the story: be patient when buying used and keep your eyes open. Something will come along.
Edit: Looked on Autotrader in your area. There's three cars I would consider looking at before that year cobra for $10,999.