Entertaining the idea of buying my Cobra back from the guy I sold it to…

[Shanezam203]

Hey All, I have the itch again to get another Cobra. I really liked my 03 10th I bought new two years ago, but I sold it so I could buy a house. I’ve been in my house 8 months now and I am thinking about getting another Cobra.

I have been checking the classified section online, and auto trader and 03's are going for around $22,000 - $25,000 depending on mileage. I have been in contact with the guy I sold my Cobra to and he said he’d sell it back for what I gave it to him for. Wouldn’t you think it would go down some after 12 months even if the mileage close to stayed the same?

I sold my 03 10th anniversary with 11,000 miles last October for $25,500. Bluebook value now is $23,750. What would you suggest a fair price for the car is now?

:coolman: Shane

 

[evans03c]

If you are in a rural area he may not be able to sell it for as much as if he were in an uban area. I'd go ahead and offer KBB 23,750 then or maybe a little lower. Everybody expects to negotiate down from their asking price.

 

[dgussin1]

23000 or no deal.

 

[cobra04972tx1]

$24,500, share the pain of depreciation. Even though he didn't drive it much, it will still loose value,sad but true.

 

[Shanezam203]

Thanks for the replies. I am thinking it should depreciate it some.
Even if I stored it for a year, and didn't drive it any I can't imagine getting the same for it now, than I was asking last October.

 

[SonicBlueFTW]

if the old owner did that to me i would tell him some outragous figure.... guess i love my car

 

[Shanezam203]

if the old owner did that to me i would tell him some outragous figure.... guess i love my car

Yeah, but every time I talk to him, he says he never drives it. Today he said he went to trade it in on a Hummer. That's why I was thinking about buying it back. But he wants what I gave it to him for, that doesn't make sense to me.

The thing is, the car isn't up for sale. I called him today and told him I was looking around at Cobra's for sale and I am thinking about buying another. He said he didnt drive his any, and even thought about trading it in. Then he said he wouldn't sell it for anything less than he got it for from me.

He is in the drivers seat now because the car isn't for sale. I will give it time, if he wants to sell it I'm sure he'll call me. I can't call him up every week asking about it unless I want to pay $25,000.

 

[C55AMG]

give him $500 more than what the dealer is offering on the trade in.

 

[B_Pay]

I say if you want it pay the 25. What's two grand. Plus you know where it's been and what condition it is in.

 

[Shanezam203]

I say if you want it pay the 25. What's two grand. Plus you know where it's been and what condition it is in.

I just dont want to pay too much for it, and then if I ever decide to sell it end up taking much of a hit.

I bought it for $30,000 new in the summer of 2004. Then I sold it to him for $25,500 with 11,000 miles on it. Even if it only has 13,000 miles on it now, I would have thought it would go down some. KBB is $23k, that's why I don't want to pay much more than that for it.

I'll give it time. It isnt the BEST time of year to be buying a sports car and sitting on it for 6 months till spring.
:coolman: Shane

 

[Shanezam203]

I think it's best if I hold off till Spring. I really dont want to sit on it for 6 months in the winter and not be able to drive it. Not fun paying for something and not being able to use it.

We'll see what happens.

 

[OmahaStang]

Unsure of your state but also find out when his plates/tags are due. Hit him up before he has to relicense it. ((The price of plating a car here in nebraska is a bit expensive)) That way you could always try to throw it at him he wouldn't have to pay for that so he'll be saving money if he sells it to you now instead of trading it in at a later point in time. Just an idea..

 

[SVT04]

Just keep in mind that the status of these cars will change at some point in the future. Right now they may be losing some value but that will not last for long. First of all as a limited production car there will eventually be fewer of them. As we all know people are wrecking them and cutting them up into drag cars and otherwise generally abusing them.

They were built in fairly high numbers but not when you consider that other models of cars are built in the hundreds of thousands of each model year.

I don't think a Cobra should lose value as much as any other car.
The day will eventually come when they sell for more than new sticker price.

My Cobra will be with me, lightly modded and in pristine shape for a long while.I will drive it and enjoy it along with looking after it. I won't get rich with it and I don't care, that's not why I have it.

Bottom line to me on this one is this....if you sold the car and want it back now then you probably should have kept it in the first place. If it is available to buy back and you really want it then pay the price ,get it back and enjoy it. He hardly drove it.Sounds like he kept it in good shape just for you.:burnout:

 

[10thSVT]

Start low and go from there....:coolman: Deal or No deal

 

[CobraBob]

Yeah, but every time I talk to him, he says he never drives it. Today he said he went to trade it in on a Hummer. That's why I was thinking about buying it back. But he wants what I gave it to him for, that doesn't make sense to me.

The thing is, the car isn't up for sale. I called him today and told him I was looking around at Cobra's for sale and I am thinking about buying another. He said he didnt drive his any, and even thought about trading it in. Then he said he wouldn't sell it for anything less than he got it for from me.

He is in the drivers seat now because the car isn't for sale. I will give it time, if he wants to sell it I'm sure he'll call me. I can't call him up every week asking about it unless I want to pay $25,000.

You said it right. He's in the driver's seat. I see this all the time when people find an old collectible muscle car sitting in someone's garage. They know that you want the car and usually will hold out for top dollar. This guy has nothing to lose because he knows he can always sell it down the road. You might have to give him what he wants if you want it back. If he hasn't driven it much you have one thing working in your favor with this car. YOU KNOW THE CAR! You know how you took care of it and, again, assuming he hasn't driven it much or abused it, you know what you're getting. Most people looking for a Terminator "hope" that what they buy hasn't been abused/raced extensively/heavily modded. So you should weigh this in your decision. Maybe approaching him with cash in hand (somewhere between what he wants and what you want to give him) will sway his mind.

Oh, one more thing. He said he went to the Hummer dealer with the intent of maybe trading it in. Well, no way the dealer offered him a $25K trade-in. So actually you can tell him that your offer is still more than he'd get on a trade. Just something else to consider. I guess the more anxious you appear, the more he'll have the upper hand.

Best of luck! I hope it all works out for you.

 

[cpu77]

I agree with others 2k is nothing to know the history of your car.. Makes a great story in 20yrs. Kinda like the girl you dated for a yr broke with a year later to marry her for the next 20

 

[me32]

im not sure where most of you guys live but in cali 03 cobra's are still going for 25-30k that is in good shape an low miles. i wouldn't even sell mine less than 28k an i have 15k on it.

 

[Yellow2003]

Personally, I think the chance to buy back the car you bought new (and now miss) with only 2k miles added in 10 months for even money is a good deal.

But that just may be me.......

 

[CobraBob]

im not sure where most of you guys live but in cali 03 cobra's are still going for 25-30k that is in good shape an low miles. i wouldn't even sell mine less than 28k an i have 15k on it.

Cobras have been selling for higher dollars in California for some time now. In most of the other states you'll pay less.

 

[acrod]

Personally, I think the chance to buy back the car you bought new (and now miss) with only 2k miles added in 10 months for even money is a good deal.

But that just may be me.......

I agree with that. I mean if you really want it back whats another 2k. you said you also might end up selling it again down the road, if thats the case whats the point then of buying it back again.