fox or cobra

ras50gt · Feb 24, 2011

Haven't posted here in a long time because life has gotten busy but wanted to get some opinions. I have been driving my 93 GT for just over 9 years now, been my daily driver since high school . Have always talked about really fixing her up but back then I was in school plus it was my daily driver so didn't have time to work on her. Have done a few mods like exhaust, lowering springs. Overall, its pretty much stock. Paint is getting old, front leather ripping, rear seats perfect. I do have a paxton sl thats been sitting in a box in the garage for a year lol. Car has about 140k miles.

So, I've been saving for a long time and have been floating around the idea of getting a 2003-2004 Cobra, Ive wanted one since they came out really. Im currently looking at two 03s both under 45k miles and looking at about 18k. Now, I will most likely get a loan thru my credit union because I don't want to completely deplete my savings, prob put 6500 down.

What do you guys think? Should I start throwing money into the 5.0 or go with the 2003 Cobra? I do plan on keeping my 5.0 either way because its my baby.

I would like to get your opinions and advice, maybe some of you have been in my situation before. Thanks for your help!

jgarrard · Feb 25, 2011

I love the 03-04 Cobra and obviously you do also but other then that it just depends on how bad you want a car payment.

mustangkarl · Feb 25, 2011

if your going to get an 03 get the one you will love (shaker hood or independent suspension or whatever) and save the fox to restore later, you saved the money before and you can do it again. Then u will eventually have 2 great cars that you will love in their own way and no regrets.

stykthyn · Feb 25, 2011

Never borrow for a toy

smokin joe · Feb 25, 2011

I have had my 93 since it was new and it is still about 90% stock. My DD will be paid off in 4 months which will free up some money. If you want a cobra for a DD then get one. It's still a mustang afterall.

1987LXragtop · Feb 25, 2011

stykthyn said:
Never borrow for a toy

this^

...but if the cobra will be your daily then go it especially if its the car youve always wanted.

90lxcoupe · Feb 25, 2011

I wouldnt hesitate to buy and 03 cobra if i could afford it

Cobra912 · Feb 25, 2011

yep me too, the bank owns everything I have anyways

SteedaGT9150 · Feb 25, 2011

termi. hands down

90lxcoupe · Feb 25, 2011

If i bought one id probly just do a pulley, CAI tune and exhaust, put a solid rear in it, and take it to the track every weekend with 28x10.5's in the trunk

5LiterWes · Feb 25, 2011

stykthyn said:
Never borrow for a toy

^This. Fixup your Fox with spare change and invest your money.

Mustang5L5 · Feb 25, 2011

Without knowing the rest of your financial background, it's tough to render such advice. Since you've said you've had the fox for 9 years since HS, i'll assume you are in your 20's?

Buying a Cobra is gonna tie you up for 5 years or so, so need to think about if you'd rather put the payments into something else. Unsure if you own a house, or planning to buy, unsure if you live in a place where you can own two cars, or can only own 1.

The thing about the fox is that it's paid for, and insurance will prob be cheaper, which gives you more opportunity for modding. Mods for fox mustangs are cheaper too. With a cobra, you gotta balance payments vs mods. Mods are also more expensive, so chances are you'll leave the cobra "stocker" than you would a fox.

Plus, it really sucks daily driving your toy.

I'd suggest using that $6500 or so and picking up a cheap daily driver...early 2000's maxima or something. Then you'll have 2 cars paid off and you can mod away on the fox and make it what you want.

But like i said before...without knowing other details, it's hard to render such advice.

citmov · Feb 25, 2011

stykthyn said:
Never borrow for a toy

I'm not trying to be your financial advisor but stykthyn has some good wisdom here. But if you don't have any other cc bills and other loans outstanding, and you think you can handle a $12k loan, and you don't foresee any other major bills, then go for it On another note, I love both the fox and the termi.

stykthyn · Feb 25, 2011

What is the maximum you can afford a month for another vehicle note/insurance wise. A 12000 dollar loan with an avg interest rate will be around 300-350 a month, and insurance will likely be another 100-150 a month for that particular vehicle. If that is a comfortable figure for you go for it.

lancec2c30 · Feb 25, 2011

03/04's are at the point now, where the price has come down into the teens, and the miles on most of them are still fairly low. I'd say if you can afford it, go for it now.

Notchbck93 · Feb 25, 2011

Mustang5L5 said:
Without knowing the rest of your financial background, it's tough to render such advice. Since you've said you've had the fox for 9 years since HS, i'll assume you are in your 20's?

Buying a Cobra is gonna tie you up for 5 years or so, so need to think about if you'd rather put the payments into something else. Unsure if you own a house, or planning to buy, unsure if you live in a place where you can own two cars, or can only own 1.

The thing about the fox is that it's paid for, and insurance will prob be cheaper, which gives you more opportunity for modding. Mods for fox mustangs are cheaper too. With a cobra, you gotta balance payments vs mods. Mods are also more expensive, so chances are you'll leave the cobra "stocker" than you would a fox.

Plus, it really sucks daily driving your toy.

I'd suggest using that $6500 or so and picking up a cheap daily driver...early 2000's maxima or something. Then you'll have 2 cars paid off and you can mod away on the fox and make it what you want.

But like i said before...without knowing other details, it's hard to render such advice.

^^^This!

Go buy a Focus or something to beat around in as gas approaches 4 dollars a gallon again, use it as your parts hauler and cheap reliable transportation.

Create a project list of everything you want to do to your Fox. Phase it out.

90lxcoupe · Feb 25, 2011

the fox will be a bottomless pit of money, that will not hold any value, and the 03/04 cobra will hold its value well and be stupid fast with bolt ons

MyHoFoSho · Feb 25, 2011

why not borrow for a toy? I would rather borrow money for something like a cobra and drive a POS everyday then have a car payment for my dd and wish i could by the cobra either way you might have a car payment but one way you have a cobra!

ras50gt · Feb 25, 2011

Im 26 years old, currently working full time. Living in the bay area, Im not looking at being able to afford a house around here anytime soon. Right now I pay rent which is very affordable, no credit card bills, everything I do own is paid off.

I thought about getting more of a daily driver that is better on gas, but then Im worried something I get might break down and I would want something id enjoy driving also so that would mean more money(maybe a wrx). My friend bought a maxima as a daily driver so he could start working on his 67 mustang. Now, both cars are down. I don't want that to happen either.

The cobra I'm looking at has a few things done already. It has full bassani exhaust, FR deep dish wheels, HR lowering springs, tri-ax shifter and a canton overflow tank. It has enough power as it sits and looks/sounds mean, so I wouldn't be looking to mod for awhile, maybe down the road.

BlackGT89 · Feb 25, 2011

ras50gt said:
Haven't posted here in a long time because life has gotten busy but wanted to get some opinions. I have been driving my 93 GT for just over 9 years now, been my daily driver since high school . Have always talked about really fixing her up but back then I was in school plus it was my daily driver so didn't have time to work on her. Have done a few mods like exhaust, lowering springs. Overall, its pretty much stock. Paint is getting old, front leather ripping, rear seats perfect. I do have a paxton sl thats been sitting in a box in the garage for a year lol. Car has about 140k miles.

So, I've been saving for a long time and have been floating around the idea of getting a 2003-2004 Cobra, Ive wanted one since they came out really. Im currently looking at two 03s both under 45k miles and looking at about 18k. Now, I will most likely get a loan thru my credit union because I don't want to completely deplete my savings, prob put 6500 down.

What do you guys think? Should I start throwing money into the 5.0 or go with the 2003 Cobra? I do plan on keeping my 5.0 either way because its my baby.

I would like to get your opinions and advice, maybe some of you have been in my situation before. Thanks for your help!

I looked for a Termi with that mileage and price range for years and could not find one that wasn't dogged out. And now you say you've found 2 ??

If the Carfax checks out, I'd go for it ! Be prepared for the insurance costs too.

fox or cobra

ras50gt

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jgarrard

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mustangkarl

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stykthyn

I want to measure mine. It doesn't look that tall.

smokin joe

1987LXragtop

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90lxcoupe

Cobra912

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SteedaGT9150

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90lxcoupe

5LiterWes

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Mustang5L5

That is…until I whipped out my Bissell

citmov

stykthyn

I want to measure mine. It doesn't look that tall.

lancec2c30

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Notchbck93

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90lxcoupe

MyHoFoSho

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ras50gt

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BlackGT89

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fox or cobra

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