Advice on possible car trade

texman19 · Feb 16, 2010

Hey guys just wanted some advice. I found an ad for someone who would like to trade for my daily driver pick-up. He has a 95 mustang cobra with a bunch of upgrades:
new trans with all upgrades, hurst shifter, 410 gears, sway bar, flowmasters, full bbk cold air intake, 70 mm throttle body, msd coil, eibach lowering springs, konick adjustable struts, new tires and alighnment.

The bad is it has 150k on it. I know the 5.0 motors last long but I don't really want to get into something thats gonna be a headcase a few months down the road. Based on everyone's experience do you think its something I should consider? The truck i have is a 2003 f150. Its just a basic truck with a v6 and a 5 speed with 82k on it. Has a small lift kit, all terrain tires, tuner, and some cosmetic upgrades. Doesnt need anything except some brakes in the future and has and should continue to be very reliable. What do you guys think?

88stang88 · Feb 16, 2010

It's hard to tell without pictures or really knowing how it runs.

Also how much funds do you have access to incase something were to break or fail?

This is what I would think about personally.

1-Can I afford to replace major things such as engine,tranny if they were to go out?
2-Is Insurance going to go thru the roof bc its a cobra?
3-Could I possibly sell my truck and buy something more ideal?

revhead347 · Feb 16, 2010

The only advice I can really give you is that those vehicles are about equal value. If you want a 95' Cobra more than an 03' F150, then go for it. I don't think the Cobra will have any serious reliability issues.

Kurt

texman19 · Feb 16, 2010

Its a black cobra with black interior. Appears to be in good shape from the pictures. Owner claims there are no leaks and has just had a new inspection. As far as spending money goes to fix repairs, ive just graduated and on the search for a job. If a job is lined up repairs shouldnt be an issue but thats dependent on the job. Im pretty mechanically inclined so I can do most minor to moderate repairs. Insurance may be high, I'm 23 but have clean record no tickets. Truck is worth 4-5grand I think if i try to sell it outright. I've always had a heart for the 5.0s so its mainly my inner child trying to pick up something like this haha. I guess i'm just curious if a well taken care of 5.0 motor with that many miles will hold up for a couple years.

88stang88 · Feb 16, 2010

Yes it will as long as your not dogging it all day everyday!

I say go for it!

revhead347 · Feb 16, 2010

I have an 02' F150, and a 95' Mustang GT. When I had both of my vehicles on my regular policy, the truck cost more to insure than the Mustang. I moved the Mustang to collector car insurance 2 years ago, because I don't drive it to work anymore. I doubt the Cobra is much more than a GT for someone with a clean record. Either way, the insurance isn't going to be much of an issue. I say go for it.

Kurt

desertcox05 · Feb 17, 2010

Do you have to get emission tests in your area?????
The cobra will have to be sniffed. if you do
It may or not be a problem. Just something else to consider.
I have 170,000 on my gt. It doesn't burn oil or leak anything except exhaust from time to time.

revhead347 · Feb 17, 2010

Emission test for cars that age aren't too bad. My stroker 347 passes with just a set of old cats on it, and no smog pump or egr.

Kurt

2002BLGT · Feb 17, 2010

texman19 said:
Hey guys just wanted some advice. I found an ad for someone who would like to trade for my daily driver pick-up. He has a 95 mustang cobra with a bunch of upgrades:
new trans with all upgrades, hurst shifter, 410 gears, sway bar, flowmasters, full bbk cold air intake, 70 mm throttle body, msd coil, eibach lowering springs, konick adjustable struts, new tires and alighnment.

The bad is it has 150k on it. I know the 5.0 motors last long but I don't really want to get into something thats gonna be a headcase a few months down the road. Based on everyone's experience do you think its something I should consider? The truck i have is a 2003 f150. Its just a basic truck with a v6 and a 5 speed with 82k on it. Has a small lift kit, all terrain tires, tuner, and some cosmetic upgrades. Doesnt need anything except some brakes in the future and has and should continue to be very reliable. What do you guys think?

Is this car in Roanoke VA craigslist ?

RIO5.0 · Feb 17, 2010

revhead347 said:
I moved the Mustang to collector car insurance 2 years ago, because I don't drive it to work anymore.
Kurt

Who's that insurance thru?? I do like 600-1k a year for miles. I have Allstate and they don't have anything like this....

revhead347 · Feb 17, 2010

RIO5.0 said:
Who's that insurance thru?? I do like 600-1k a year for miles. I have Allstate and they don't have anything like this....

I use Grundy, because you get your car insured at an agreed upon value. You have to send them pictures, and then you tell them the value you want to insure the car at. I insured my stang at $18,000. They don't have any limitation on miles, but there are two stipulations. You can't drive the car to work, and you have to keep it in a garage. The upside is it cost me about $300/yr to insure my Mustang.

http://www.grundy.com/

Kurt

texman19 · Feb 17, 2010

2002BLGT said:
Is this car in Roanoke VA craigslist ?

Yep thats the one.

toyman · Feb 17, 2010

revhead347 said:
The upside is it cost me about $300/yr to insure my Mustang.

Kurt

I would think that the liability premium would be more than that. So what are the insurance particulars?

Liability $ amount
Collision deductible
Comprehensive deductible

Most insurers offer a declared value insurance option. Generally requires proof of modification costs to support the declared value, photos and a "passed" vehicle inspection report.

revhead347 · Feb 18, 2010

Most companies will offer you additional insurance for modifications at 10cents on the dollar up to $3K to $6K depending on the insurance company. I've never heard of traditional insurance companies offering declared upon value coverage. So you figure the insured value of a 95' GT is about $4K, and you can max out your modification insurance up to $6K with a good company. That means if you wreck your car, you're going to get $10K back minus your deductable of say $500. So you're going to get $9,500 back. And you pay and extra $1200/yr for the insurance on your modifications/yr. It's just not worth it.

I keep two insurance policies, one with Progressive, and one with Grundy. The Progressive policy covers my F150 with comp/collision, my 82' Mercedes and my fiance's 99' Mirage with liability only on those two cars. My liability is 50/100/50 with a $500 deductable on that policy. I think it costs us about $620 for that policy every six months. Then my Grundy policy covers my Mustang up to $18,000. If the car is totalled, they pay out $18K. If it is not totalled, then I think it's a $250 deductable. The liability is high on that policy, 100/300/100 I think. That policy is paid annually, and I think it was right around $328 last year. Collector car insurance is pretty cheap actually.

Kurt

revhead347 · Feb 18, 2010

Oh, I forgot, there are 2 other stipuations with the collector car insurance. You have to be 25 years old to get the policy, and no one under 25 can drive your car. You also can't use the car for racing purposes, which I don't understand, because insurance doesn't cover your car at a race track anyway.

Kurt

Adam95GT · Feb 18, 2010

sell truck... buy better cobra...

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