Pre-owned Terminator values, then and now

[coolcobramatt]

For those of you who have been on the site as long as I have, here's a telling stat. I bought my first terminator in 2004, a redfire convertible, one owner with 12,000 miles. I bought it from a Ford dealer in N IL for 26,500. I sold it on svtp in 2006 for $25k (modded out with RK Plasmas and custom ghost flames). I then purchased my first mystichrome vert in St. Louis with 8,000 miles from a private individual for $27,000 in late 2006. After adding a KB 2.2 and CCW's, I screwed up and sold it in early 2009 for $26,500 with 12k miles. It took months to sell. Next terminator was a sonic blue vert with 7,000 miles from an import dealer in Chicago. I did the dumbass thing again and added a polished and ported blower, new CCW's etc and sold it 6 months later in a money pinch. I could not get a bite at $27,500 asking price, which I thought was a steal. A guy on here threw $26,500 at me and I had to accept. 8,000 miles and just perfect.

I went through a few years without a stang, then a year with a Boss 302 and finally back into my second mc vert Jan 2014. 14,800 miles and virgin. I absolutely stole that car at way less than market value. I have turned down a few offers over $30k as I just don't want to sell this one right now.

My point is that I could easily sell the car for the same price as I paid for my first one just a year after they came out brand new. The only other mustang I can think of in the last 30 years that has retained such a high value is the '93 Cobra. I remember seeing a red one on the local dealer's lot stickered at $17,995. I haven't seen any low mile 93's for sale for under original MSRP in years. Not sure if our cars will reach that point but I think a car with the same market value now as it had 11 years ago is phenomenal.

For anyone that has been in the terminator game as long as I have, and owned multiple examples, what have you experienced?

 

[cj428mach]

Interesting info. Also important to note mods hurt the resale value every time. Dont get me wrong my car got a whipple the moment it first pulled into my garage lol.

 

[Dan04COBRA]

In late 2005 I bought my 04 Cobra with 16k Miles for $27.5k. In 2009 with 30k miles I sold it to a wholesaler for $25k.

I bought my current 03 in July with 54k for $17k.

 

[coolcobramatt]

Interesting info. Also important to note mods hurt the resale value every time. Dont get me wrong my car got a whipple the moment it first pulled into my garage lol.

Mods haven't ever hurt my resale, they just rarely added to the value. Now the CCW's and TF's always helped the end sale.

 

[matt87]

well i see the prices for the low mile nicer cars seem to have leveled and are on the up. i dont think they will depreciate much more. this is all relevant to an economy coming out of a slump too. the difference in value has alot to do with a lots of terminators being used up with higher miles, seems to be more and more 70k+ modded cars and beat the hell out of hitting the market.

 

[Dan04COBRA]

I'd go ahead and bet that the high mileage Cobra's will bottom out (100k+) around 10k in the next few years. It seems that people are willing to pay a fair market value for rebuilt (fresh motor etc) Terminators, over $16k. They are just about at the age now where carfax reports, accident history, etc doesn't matter much regarding it's value. I'm seeing mid/late 90's Cobra's selling for 8-11k around here and they aren't sitting on them for very long either.

If anyone is looking to get into an 03/04 soon, they better get on the ball if they plan on financing most of it. The banks will go by NADA/KBB versus what they are really selling for. Otherwise, I hope you have a healthy wad of cash.

 

[coolcobramatt]

^agreed. My credit union would only finance $20k on my mc. That was a bigger % than most banks.

 

[elcobrita]

well i see the prices for the low mile nicer cars seem to have leveled and are on the up. i dont think they will depreciate much more. this is all relevant to an economy coming out of a slump too. the difference in value has alot to do with a lots of terminators being used up with higher miles, seems to be more and more 70k+ modded cars and beat the hell out of hitting the market.

Oh well, I'm gonna have to keep my beat to hell 74k mile car and have some more fun with it.

One day I plan to get a low low mile Mystic coupe tho. IMO, that is the only color that I wouldn't drive except for car shows.

 

[Crimson2v]

Not good news for me, I am waiting until some bills are paid off before I can get one. I sold mine earlier this year for 18k, not beat up at all had 70k on it. I will be financing the next one for close to the full amount. I can always pull my Maisto terminator out of the box and pretend, hahaha.

 

[Jkay98]

I picked up my 1 owner 03 Cobra with 12,077 from a dealership last year (6/30/14) for $21,900 before taxes and all the other fees. I got lucky because I was looking for a few months and I found this one local and it was only on the lot for maybe a week. I didn't want a black car but I couldn't pass it up.
I cant remember what the dealership was asking for it, it was either like 25k or 23.5K and they advertise "no haggle" pricing. I went to look at it one day and came back a couple days later to buy it. I basically told them I am going home in this car today but I am not paying what you are asking and I think I ended up with a decent deal especially from a dealer. I just wonder how much lower I could have gotten it for if I bought it off of the original owner.
The best part is when they tried to sell me the extended warranty and I told the guy I am going to modify the car and void the warranty but he kept pressing and got pissed when I said no warranty. Although it did come with a 6 month 6,000 mile warranty.
So far I have just under 5K invested in it which I will never be able to sell the car for 26-27K and I am sure i'll be dumping a few more grand in the next few years. I keep a spreadsheet of everything I ever purchased for it.

 

[coolcobramatt]

I picked up my 1 owner 03 Cobra with 12,077 from a dealership last year (6/30/14) for $21,900 before taxes and all the other fees. I got lucky because I was looking for a few months and I found this one local and it was only on the lot for maybe a week. I didn't want a black car but I couldn't pass it up.
I cant remember what the dealership was asking for it, it was either like 25k or 23.5K and they advertise "no haggle" pricing. I went to look at it one day and came back a couple days later to buy it. I basically told them I am going home in this car today but I am not paying what you are asking and I think I ended up with a decent deal especially from a dealer. I just wonder how much lower I could have gotten it for if I bought it off of the original owner.
The best part is when they tried to sell me the extended warranty and I told the guy I am going to modify the car and void the warranty but he kept pressing and got pissed when I said no warranty. Although it did come with a 6 month 6,000 mile warranty.
So far I have just under 5K invested in it which I will never be able to sell the car for 26-27K and I am sure i'll be dumping a few more grand in the next few years. I keep a spreadsheet of everything I ever purchased for it.

What did you get it for?

 

[Dan04COBRA]

Not good news for me, I am waiting until some bills are paid off before I can get one. I sold mine earlier this year for 18k, not beat up at all had 70k on it. I will be financing the next one for close to the full amount. I can always pull my Maisto terminator out of the box and pretend, hahaha.

I could barely get my CU to finance the 17k I paid for mine with 54k miles. I have excellent credit. They only cared about the NADA/KBB value. I went online and forwarded countless FS threads & craigslist/autotrader 03/04's to show what they really go for. That's why when I found mine for sale, I got as many pictures sent to me as I could, some driving videos, got the check from the bank & hoped for the best when I picked it up 6 hours away. Surprisingly worked out well lol.

 

[braindontstop31]

I could barely get my CU to finance the 17k I paid for mine with 54k miles. I have excellent credit. They only cared about the NADA/KBB value. I went online and forwarded countless FS threads & craigslist/autotrader 03/04's to show what they really go for. That's why when I found mine for sale, I got as many pictures sent to me as I could, some driving videos, got the check from the bank & hoped for the best when I picked it up 6 hours away. Surprisingly worked out well lol.

You could always get a home equity loan instead (if you have a house). Then the car value is out of the picture.

 

[Jkay98]

What did you get it for?

I paid $21,900

 

[Snake Plissken]

Mods haven't ever hurt my resale, they just rarely added to the value. Now the CCW's and TF's always helped the end sale.

Agreed, it's all in what a particular person is looking for. Some are looking for that extra because they know the seller can't get the exact dollar amount that they paid for those extras. In other words, you usually get a good deal on the car considering the owner dropped a bunch of cash into it. On the other hand some people are scared to death of buying a car with those extras already on the car. Just depends...

In my case I was looking for a Terminator with some extras. Less than three years old 8,100 miles, solid axel, transmission, Baer big brakes, coilovers upfront, long tubes-exhaust. 29k including the original T-56

 

[Crimson2v]

You could always get a home equity loan instead (if you have a house). Then the car value is out of the picture.

I have heard of people doing that, what kind of interest rates do those loans carry? I thought those loans were for home improvements only.

 

[SOVACobra03]

I have heard of people doing that, what kind of interest rates do those loans carry? I thought those loans were for home improvements only.

I'm looking at this in order to finance my garage build. My house is paid for and the interest is like 4% for me. My credit isn't anything amazing, pretty avg since I rarely use it.

 

[Goose17]

I am happy/surprised at how well values have held up on my SVT toys... My 11,000 mile 93 doesn't have too many peers in circulation any more and my 14,000 mile Mystichrome is becoming that way more each day. Yes, there are some ultra low mile examples out there, but as these cars age, more and more end up in the well-used group.

 

[SOVACobra03]

I am happy/surprised at how well values have held up on my SVT toys... My 11,000 mile 93 doesn't have too many peers in circulation any more and my 14,000 mile Mystichrome is becoming that way more each day. Yes, there are some ultra low mile examples out there, but as these cars age, more and more end up in the well-used group.

It's a crazy truth. I have seen several terminators over the last couple years that the condition appalled me

 

[coolcobramatt]

I paid $21,900

Damn you said that in your original post and I brain farted. Sorry about the boneheadedness!

That was a very good price though.