I've found a 97 Cobra with around 130K miles on it. Would this be a bad purchase? Is the mileage too high so that I would have to worry about anything after I buy it? Let me know your opinion.
How much, how many owners, vehicle history? Thats what you base your purchase on. And of course overall condition, physical and mechanical. Try going to www.KBB.com that will give you a general book value on it.
Those 4.6 motors can last a long time. If you get it for about 8-10G's as long as the body is clean go for it. I wouldn't bother putting a power adder because that is a lot of mileage and you don't know how the person or persons took care of it.
The 4v 96-98 motors are pretty strong. I beat on one for 4 years with no problems. I drove it like I stole it everyday. The lifters may knock alittle on
cold start ups. My lifters started knocking at 85k and still knocked when
I traded with 137k on it. but never had any problems with it.
I'd shoot for one with lower milage unless you get it really cheap.