Strongly thinking about purchasing a Cobra

[simshahh]

The more and more I look into an 03/04 Cobra, the more and more I want one. Right now I have a 2001 Lightning, and sucks to say, but Im pretty much over it. Im wanting to trade it in, so I found a SB Cobra at a dealer that I will be hopefully working out a deal with my L paid off and driving off the lot with the Cobra. I have some questions tho, so what better place to ask, right?

1)Its a 2003 SB with 46k miles. They want $24995, is this reasonable?
2)Are there any problems I should be aware about, and I should look closely at when I go see it Monday?
3)Are there recalls that I need to know about?
4)Lots of you guys have 600+ HP monsters. I doubt Ill ever reach that, but what can the stock Cobra motors handle?
5)Is there any reason that I should get an 04 instead of the 03? Like, maybe there were a few problems with the 03 but have been worked out with the 04's?
6)Do I really need an extended warranty?
7)It doesnt look like the rims are chrome. Is that an option? Or a year difference?

I appreciate your help and input, thanks in advance, Jeremy.

 

[SVT_4_me]

1) price is a bit high for those miles... i would pay no more than $23k
2) read this: http://www.stangshiftergaskets.com/2003_2004faqs.htm#_Toc35092330
3) the only recall is for the accelerator pedal getting stuck on the carpet... nothing major but needs to be addressed.
4) 600+ hp with a good tune and supporting mods
5) some say that the '04 models don't have the head tick, but this is not true... both 03/04 cobra's and mach1's can develop the head tick. mechanically the cars are identical.
6) no, especially not if you are going to mod the car
7) chrome rims were an option

 

[TrickStang37]

its reasonable considering many in this area still expect 27000-34000 for coupes. obviously, they can go lower. i work at a dealer. if you like, i can try and find out some numbers to expect. how many miles on the Lightning?

 

[simshahh]

1) price is a bit high for those miles... i would pay no more than $23k
2) read this: http://www.stangshiftergaskets.com/2003_2004faqs.htm#_Toc35092330
3) the only recall is for the accelerator pedal getting stuck on the carpet... nothing major but needs to be addressed.
4) 600+ hp with a good tune and supporting mods
5) some say that the '04 models don't have the head tick, but this is not true... both 03/04 cobra's and mach1's can develop the head tick. mechanically the cars are identical.
6) no, especially not if you are going to mod the car
7) chrome rims were an option

Thank you!

 

[TrickStang37]

and don't let anyone scare you about the miles, they hardly matter. miles dont tell you anything of what a car has really been through.

 

[anvrsy red vert]

Unless you know first hand the history of those 46,000 miles, I suggest you take your time to find a lower mileage car that you know somewhat the history of since many of these cars have hard and abused miles on.

 

[simshahh]

its reasonable considering many in this area still expect 27000-34000 for coupes. obviously, they can go lower. i work at a dealer. if you like, i can try and find out some numbers to expect. how many miles on the Lightning?

Haha, Im going to try and get what I can out of them. The Lightning has 68xxx miles. Its in pretty decent shape, just needs the tonneau cover to be painted and cleared again.

 

[simshahh]

Unless you know first hand the history of those 46,000 miles, I suggest you take your time to find a lower mileage car that you know somewhat the history of since many of these cars have hard and abused miles on.

True, but thats with any car. Which is also why I asked about the extended warranty. The main problem with that is Im sure I will want to do some mods to it. My L has some good mods, but its not fun coing to this site and seeing lots of L owners needing to get built motors, so if I decide to get a little carried away on the mods to a Cobra, Im hoping the motor can support more than what the L can.

 

[03nightmare]

There's an 04 redfire in lubbock TX near me they want 29999 for it and it has 28000 miles on it. so Miles aside. id say that is about the going rate.

 

[SVT_4_me]

There's an 04 redfire in lubbock TX near me they want 29999 for it and it has 28000 miles on it. so Miles aside. id say that is about the going rate.

i know the prices are going up now that it is spring, and the prices also vary alot depending on where you live... but, i bought my cobra in january with 8,600 miles, stock, for $24k...

 

[01cobravortech]

i know the prices are going up now that it is spring, and the prices also vary alot depending on where you live... but, i bought my cobra in january with 8,600 miles, stock, for $24k...

Dude that is an absolute steal for that amount of mileage! I hate you. :mj:

 

[SVT_4_me]

Dude that is an absolute steal for that amount of mileage! I hate you. :mj:

yeah, i know it... i got sooo lucky too. i sold my '96 cobra on a saturday, this one showed up on autotrader on sunday, and i took off of work and went and bought it on monday...

 

[FleeMan]

Traitor!!!!
J/K, if I was in the position to sell my truck for a Cobra, I wouldve done it a long time ago.

 

[01cobravortech]

yeah, i know it... i got sooo lucky too. i sold my '96 cobra on a saturday, this one showed up on autotrader on sunday, and i took off of work and went and bought it on monday...

I recently bought mine off of autotrader as well. I wasn't as lucky though. With taxes mine came out to a hair under $28k and it had 20,900 miles. Bone stock, never chipped, garaged by an old dude and even had the factory rubber snorkel.

 

[TrickStang37]

mileage is way overrated. EVERYDAY i see cars with 200,000+ miles in better condition than some 15,000 mile vehicles. I've seen motors crap out in the 20,000 mile range and others be abused to the fullest and go on for 160,000 miles and still never give out. Transmissions are the same way. its better to hope that your one of the lucky one's than to worry much about the miles tacked on.

 

[SVT_4_me]

I recently bought mine off of autotrader as well. I wasn't as lucky though. With taxes mine came out to a hair under $28k and it had 20,900 miles. Bone stock, never chipped, garaged by an old dude and even had the factory rubber snorkel.

of course the $24k didn't include taxes... that was another $1500...

 

[simshahh]

Traitor!!!!
J/K, if I was in the position to sell my truck for a Cobra, I wouldve done it a long time ago.

I know man, I know. Trust me, if I had an 03/04 L, I would keep it.

 

[simshahh]

i know the prices are going up now that it is spring, and the prices also vary alot depending on where you live... but, i bought my cobra in january with 8,600 miles, stock, for $24k...

Im not too worried about finding a better deal, cuz I swear, two weeks after I buy something, I will find a WAY better deal, so I dont stress it too much. I just want to make sure its not way over priced.

 

[SVT_4_me]

Im not too worried about finding a better deal, cuz I swear, two weeks after I buy something, I will find a WAY better deal, so I dont stress it too much. I just want to make sure its not way over priced.

yeah, you are right... the important thing is that you find a very nice car that has been taken care of and that you will be happy with... you don't want to end up dissapointed.

 

[TrickStang37]

well, ask them how long its been on the lot. if its close to 60 days, they may be willing to negotiate/discount more, even take a small loss if its close to the 60 days. wholesale on that car should be close to 20,500-21,000. ASK for that. i would think 21,500 or something close to that would be a good price to finally settle and purchase at. i can find out what exactly wholesale is tomorrow at work, and the $$ they would probably offer on your truck.