Tommy92
Active Member
Dont let your emotion buy this car. I personally think its a bad buy at that price..
01 Cobra....
- Thread starter KillNThrill24
- Start date
^ I agree.
If it were about $2000 less, it would be more reasonable.
If it were about $2000 less, it would be more reasonable.
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KillNThrill24
Legend
I've been digging deeper on the matter. I should mention there's no power loss whatsoever, and the oil usage is minimal at best. But they exist. The cleanliness of the car is simply unbeatable. And knowing a good portion of the history makes everything much easier too
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ttocs
Post Whore
x3. Take the friendship out of it, and would you still pay $10k? Your correct that you might open it up and find out that the repairs are minimal, or you might get into it and find out that there is more wrong then you hoped for. If you are hoping that its not that bad I feel your setting yourself up to fail imo.
Nightmare
Well-Known Member
It sounds like you have your mind made up, Joey. I guess this puts the truck thing on hold. I wish you luck, as to reseal a 4 valve is not one of the most fun things to do. You are almost better off pulling the engine to reseal it.
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KillNThrill24
Legend
It's definitely not 100% made up yet. But after talking to my parents we don't think buying a truck at more than double the cost of this (diesel as you know) is a great idea just yet. They might come up on some money in the next year or so that would allow me to buy it off them. That's what they want to do so I don't dig myself a hole I can't get out of. Being only 21... That's probably a good way to go about it ya know?
But thanks man I'm gonna need luck no matter what route I decide to take
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KillNThrill24
Legend
Very good point Scott... I'll definitely try to talk him down like you guys said I should but I don't know that he will. And I know the heads were re done not too long before he bought it, had all the freshening up done, and that right there tells me the odds of the damage being catastrophic are lower than if they hadn't been touched their whole life. We shall see my friend
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ttocs
Post Whore
again you are looking at the best-case scenario on the motor and still carrying that friendship into a business deal which is a mistake IMO. You know as well as anyone on here that if it were not a friend that you would see the smoke and assume that something is wrong and needs to be repaired and you would not be thinking "well its probably not all THAT bad" and would be totaling up the parts/time needed for the repair to take off the price. I am not trying to beat you up, tell you that your wrong or say anything other then business is business and friendship is friendship. Combining the two rarely works out for the best. The best case scenario is your right, nothing is wrong and its an easy fix and everyone is happy. Worst case scenario you pay his price, open it up and find out there IS something really wrong and then suddenly do you ask him to help pay for the repairs or should he tell you to go kick rocks like he would any other person that bought it? obviously the choice is yours but weigh out the possibility of the best/worst case scenario and it should help make the picture clearer
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KillNThrill24
Legend
You are again absolutely correct my dude. Hit the nail on the head in every aspect. If I buy it and it's screwed beyond just valve seals then 1:I'm totally ****ed and 2: I'm totally pissed. That's definitely something I need to keep in mind. And at the same time, I don't think about it as anything other than an opportunity to lose more money haha. It's an expensive game we play. And I know unless I keep it 60yrs the value is just gonna decrease. But that's with any car really. Tho Cobra's (all years) seem to retain their value quite well in comparison to same year GT's. Shit my GT books 6500 and it's a year older same mileage. I bought it for 5000 and put 6000 into it already. Right there I'm totally boned. But it's the game we all play ya know? Thanks for the advice tho Scott I will most definitely be taking all that into consideration before I make a decision.
I did some book values on it... KBB Fair price for it (which is the worst condition they offer) still booked for $9500 NADA also lists it at 9500.... So honestly guys I think it depends on where your buying it.. Because it's in perfect condition minus that valve seal ya know? All things considering it's really NOT a bad price if you look at all the details on it... I dunno guys not including the friendship part I still don't think it's a horrible horrible deal. I'll definitely try to talk him down. He literally just text me as I was typing this and said "Kbb books cobra with the miles on body and motor at about 15-16k" Definitely not sure how he managed to find that price... I haven't found anything higher than 11 lol
I did some book values on it... KBB Fair price for it (which is the worst condition they offer) still booked for $9500 NADA also lists it at 9500.... So honestly guys I think it depends on where your buying it.. Because it's in perfect condition minus that valve seal ya know? All things considering it's really NOT a bad price if you look at all the details on it... I dunno guys not including the friendship part I still don't think it's a horrible horrible deal. I'll definitely try to talk him down. He literally just text me as I was typing this and said "Kbb books cobra with the miles on body and motor at about 15-16k" Definitely not sure how he managed to find that price... I haven't found anything higher than 11 lol
ttocs
Post Whore
remember that you are playing with more then just money too loose. How good of a friend is he? Anyone that doesn't expect to loose money in the long term on a car purchase is either a fool, is keeping the car for the next 50 yrs(like me) or knows something I don't. We should all expect to loose money on a car deal and that comes and goes no big deal but a good friend is something money can't buy and is a lot harder to replace then some stupid green paper.
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KillNThrill24
Legend
I grew up with the kid man. We've been causin trouble since the age of 6. I'd consider him a brother. He just said that he'll fix it this winter while he still owns it and keep the price at 10. I'd be more than happy to help him too. Now with that shit fixed... I think it's a good deal. Don't you guys?
soooooo v6?
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KillNThrill24
Legend
WhiteVenom
Member
Now with a little more info, I say go for it! Not a bad idea keeping yourself out of a lot of debt by holding off on the truck. I'm assuming you'll be financing this one? Like I said in the other thread, I financed my car to build credit. $10k won't break you and you get a badass car.
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KillNThrill24
Legend
I totally agree my dude. Yeah I mean it's a win win... I spend less than half of what I would have spent on a truck (like I said I'm looking in the 25k range on a truck haha) and I work on establishing my credit. I'm gonna see if the bank will let me pull all 10 at once. If so then I'm definitely doing it. If not I'll go down to 5 and see what they say. I'm hoping for the best out of this lol. We'll see what happens. If he fixes it over the winter then I think the 10k is totally fair considering the work done to it and overall condition. And I know allllll the details on this bad boy lol so that much I definitely don't sweat!
1997GT4.6
Well-Known Member
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SKIP it. Its not worth near half that. Not to mention it would look much better with a nice set of wheels. Its definitely not worth that price at all.
Nightmare
Well-Known Member
Honestly, in my opinion.....no. If it was one with 22,000 on it then I would say hell yeah. Perfect example of this is that I had the opportunity to purchase a 99 Cobra with a procharger last year for 14,500 which I felt was fair (Edmunds.com value of 11,000 plus the 3k add on for the supercharger). The reason why I didn't is two fold. The owner was one of my friends, and I knew how he drove it. Sure it was a clean vehicle, however I knew what it needed, what he did to it when he had it, as well as who the prior owner was (like yours). However my fear after knowing that he had ignition issues and drivability issues with it prior scared me. AlsoI knew that the springs were cut and the damn thing rode like shit, bouncing all over the place. I ended up turning it down in the end because I had a feeling that these issues would ruin the friendship.
In this case it is very close. Now you mentioned KBB........don't go by that as it is an average of the last 6 months and it stops calculating mileage deductions once you hit about 100,000-110,000. Edmunds is a better guide because it is an average of the auction prices in the last week.....so it is a little more accurate.
Joey, it is a nice looking car, I agree with that. If I had to, the most I would pay for it would be 9500 tops. Sure he is going to fix the issues, however I am seeing a red flag here. If the engine was refreshed with in the last 2 years, why does it need to have that kind of engine work now? Did it need engine work when he bought it? You need to ask your self and or him these questions first and get past things like how long you two have been friends, or the bigger picture here of it being a COBRA and being sold by a friend.....It took me a ling time to make my decision, and ultimately my wife brought me down to reality....well that and I cannot stand tan interior in anything! lol
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KillNThrill24
Legend
I couldn't agree more in every aspect man. Your totally right on every point. I'm not trying to ruin a friendship over a car that's just not how I roll.
I'll definitely Edmunds it when I get off work today. I used kbb and nada because I forgot about Edmunds. They were both the same tho. Actually nada had it up at 11.. But I totally hear what you're saying. I just called the credit bureaus yesterday to get my shit mailed out to me so I have a long way to go before I make a decision on yes or no.
And LOLOL at tan interior. Dude.... I hate tan interiors too haha. Sooo ugly. Unfortunately in most vehicles when buying used you don't have too much of a choice!
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Nightmare
Well-Known Member
Well you do have a choice..........not to buy it and keep looking....lol
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KillNThrill24
Legend
Hahaha touché but I mean if everything welse is perfect except the tan interior... Then you might have to make a compromise
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