Buying a 2004 cobra.. need help

[tzr250rg]

So looking to buy a 2004 cobra with 62,000 miles, no accidents, however has a door ding on pass door, small scratches on hood, rear quarter, and faded rear bumper. I figure body shop can take care of it for about $1k.
Overall car looks great. interior is 9 out of 10. driver seat has some wear but no rips.

What should i being paying for such a car?

 

[R.D.P.]

Need to know the color, full list of mods if there are any and if you have a history report - how many owners.

 

[tzr250rg]

red (not burgundy)

2 owners- 2nd owner Bought @46K miles

no accidents - clean title and clean carfax

had rear end fixed - for cobra clunk spent about 6k at ford to repair

mods are;
headers
air filter
fronts shock camber adjustment plates

 

[3xBlackCobra]

I'd offer 17k at most. Sounds like 1k is maybe the low end for repairs at a reputable shop. Car is probably worth around 18-19k with everything fixed

 

[Zemedici]

I'd offer 17k at most. Sounds like 1k is maybe the low end for repairs at a reputable shop. Car is probably worth around 18-19k with everything fixed

pretty low. The market on these cars is on the up and up. Borderline impossible to quote price as it varies by location. I know in Atlanta you cant get into ANY 03-04 car for less than 19-20k.

OP its impossible for us to tell you 'what you should pay' - what's the car WORTH to you?

 

[3xBlackCobra]

Very true. I'm just going on averages for what I've seen people actually pay for a cobra with that mileage and lack of mods. Personally, I wouldn't pay much more than 17k, but that's just me

 

[Zemedici]

fwiw in 2015 I sold my 04 with 110k on the odometer, and minor bolt ons (retrofitted HID projectors, stereo system with 2 10s, amber tails, and bassani exhaust) for 17.5k, to the first person that looked at it.

 

[3xBlackCobra]

That's the great thing about cars like these. The range of buyers and the amount their willing to pay can really vary. This isn't a Ford fusion with hundreds of examples to choose from in the local area. I'm always looking for a deal, so try to pay the low end of value whenever possible

 

[hotcobra03]

I think its still a sellers advantange..

Its whats they are willing to take..

62k is low mileage to me..

 

[tzr250rg]

thank you guys

i think the car is worth every bit of 18k the way is sits, from what i see on Ebay, autotrader, etc...

However wanted to get feedback from what the cobra community thoughts were.

I have been following these cars for about 5 years and yes i agree they are climbing.

if the transaction goes through ill post pics once i get it.

Thank you Again!

 

[roy_1031]

Does it have the dark interior seats? Coupe or vert? That car around here in SoCal is over $20k


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[tzr250rg]

coupe
looks black with gray inserts

 

[3xBlackCobra]

thank you guys

i think the car is worth every bit of 18k the way is sits, from what i see on Ebay, autotrader, etc...

However wanted to get feedback from what the cobra community thoughts were.

I have been following these cars for about 5 years and yes i agree they are climbing.

if the transaction goes through ill post pics once i get it.

Thank you Again!

I'd still start negotiations at 17 to 17.5k. You're looking at 1k in repairs at a bare minimum, plus other minor issues that may not be easily detected. I usually factor in small stuff as well, like whether the oil or trans fluid needs to be changed, or how much life the tires have in them. All those little things add up to a lot of time and money.

If the car is ready to go other than the paint/ dent issues you mentioned, then 18k is def reasonable

 

[IllCobra]

I think its still a sellers advantange..

Its whats they are willing to take..

62k is low mileage to me..

That's cause your cobra has 400k+ miles lol

 

[dom418]

Not sure where you guys are getting $17-18k. Guys on here ask that for 115k mile cars.

 

[R.D.P.]

Not sure how he could have possibly spent 6k at the dealer on the rear end. I would like to see the paperwork on that and would consider it a red flag.

 

[3xBlackCobra]

Not sure where you guys are getting $17-18k. Guys on here ask that for 115k mile cars.

What they ask and what they get may be 2 different things. My guess is you'd have a hard time selling a cobra for 18k with 115k miles, unless it was an MC or CO. There's no way I'd pay that for a standard cobra, but that's just me.

I've seen a few cobras in the central fl area with similar configs as the one OP is looking at, and they're usually asking between 19-20k, but my guess is they're getting sold for about 1k less than asking price (most people mark their cars up so they can negotiate down to an acceptable offer). Add some dent repair, paint, etc and he could probably negotiate to 17.5 to 18k. He'll be in it for over 19k after he fixes the cosmetic issues.

As an example, I had someone back into my door which caused minor scratches to the paint, VERY minor dent, and cracking of the side scoop. Cost me 1,100 to repair everything from the most reputable (albiet more expensive) shop I could find. OP is looking at 1-1.5k for cosmetic repairs.

 

[roy_1031]

Not sure where you guys are getting $17-18k. Guys on here ask that for 115k mile cars.

Kinda what I was mentioning earlier. I recently saw an 04 TR vert with 60k~ miles asking $23k and that's not uncommon that asking price around here. $18k with 60k miles is a good deal even with a few minor dings. Last time I talked to a shop about fixing a few dings, it was about $400/panel.


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[CobraBob]

Not sure how he could have possibly spent 6k at the dealer on the rear end. I would like to see the paperwork on that and would consider it a red flag.

That is my big question, as well. $6K to fix a clunk issue? I would definitely ask the seller for more info on that one specifically.

OP, you might want to browse through this info from my Terminator FAQs.
Things To Check For When Buying A Used '03-'04 Cobra

 

[NY03SonicConv.]

6k for a rear end repair, sounds like it was destroyed and needed replacement. I'd want to see the receipt and be thinking about the condition of the rest of the drive train.