If anybody is feeling bad about depreciation/trade-in value on your Cobra read on. I have a "friend of a friend" that regularly buys cars at the Statesville, NC auto auction. He often sends me the PRE-SALE and SALE SHEETS showing what sold and for how much. I had the pre-sale sheets for the Dec. 30 sale and noticed a 2002 Z06 with only 5900 miles. I just got the sale sheets for this day and was pretty surprised to see that this Z06 with 5900 miles rolled through at $32,800. I am not sure exactly what this car sold for new but I am thinking about $52,000. I saw a 2003 about two months ago and the dealer had it priced at $54,000 and change. Either way you look at it thats about a $20,000 hit that the owner took when he unloaded it.
Z06 vs. Cobra depreciation
- Thread starter NC Cobra
- Start date
:nonono:
well I bought my 02 GT for 21k and after about year and a half they offered my 12k with around 22k miles on the car. I know its no 03Cobra or a Z06, but I have seen 98GTs that sell for about 11k with 60-70k miles, I am just glad that I am not losing as much as Z06s or 03 Cobras guys, its a shame and hurts where the sun dont shine.
well I bought my 02 GT for 21k and after about year and a half they offered my 12k with around 22k miles on the car. I know its no 03Cobra or a Z06, but I have seen 98GTs that sell for about 11k with 60-70k miles, I am just glad that I am not losing as much as Z06s or 03 Cobras guys, its a shame and hurts where the sun dont shine.
All cars depreciate after being "used". Performance, luxury and SUV's always take the hardest hits.
Although after several years Corvette's start to hold value. And a pristsine model will actually GAIN value after it's aged a bit.
Have no illusions, our mustangs will never do that.
Although after several years Corvette's start to hold value. And a pristsine model will actually GAIN value after it's aged a bit.
Have no illusions, our mustangs will never do that.
shi, they are selling used cobras for more than what i paid new for my anniversary and a mystichrome for 53k new around me so im not too worried
I also had a friend that traded his '03 Cobra in on a '03 ZO6. Granted, I don't know all the details of the deal but in a nutshell he got 30K on his cobra and he paid 49.5 for the ZO6. About 3 months later he decided to try to trade in his Z06 for a Monte Carlo ?!? and they only offered him 28K!! His ZO6 had less than 2000 miles on it. He did not do the deal.
Jake - I'm with you. I just thought some folks might want to see some real numbers on what a Z06 brought at auction. The dealer that bought this car will probably put it on his lot for $48995.00, but you can bet the owner that traded it in did not get a dime more than it brought at auction.
I think once all the new 03s are off the car lots the price will creep up a bit. What do you guys think? Rember this was the 1st year SVT ever gave incentives to buy an SVT.
Right, those Shelby, Boss, and early GT mustangs don't hold their value at all. :??:
I took ownership of my 2002 Z06 with 3k on the odo for 37.5 inoctober of 2002. Sold it in sept for 35k. I didnt do to bad. I got my 03 Cobra new for 30 kn OTD.
The value will probably creep up since the 04's are out, but I think the 03 Cobra will hold a good value in later years. In all honesty in the last 10 years the 93 and 03 are the most desired.
Thanks Mike
Thanks Mike
My guess would be that the vlue will stabalize kind of like the vettes do. If the car is in good shape there will be someone who wants a 400HP car really bad.
Blk98Cobra
Bye
*cough* me:thumbsup:
I dont think they should have offered rebates or encentives on the 003 or the 04 up comming if I was in ford. with out the 05 SVT line. I think as a company good decision it would have been a good idea to keep the thought of high performance car that isnt negotiated. But there must be Greenspan with ford and thought they should drop the cost..
For the consumer it seems great right off since it was now affordable and wanted in on a car that didnt depreciate but with rebates it caused the used market to drop.
Normally ford and other companys dont like to give rebates on a non needed performance. It is considered for elite mustang buyer.
For the consumer it seems great right off since it was now affordable and wanted in on a car that didnt depreciate but with rebates it caused the used market to drop.
Normally ford and other companys dont like to give rebates on a non needed performance. It is considered for elite mustang buyer.
I'm sorry but I couldn't disagree with you more. My 1970 grande has more than doubled its original value, and my car isn't even one of the more desireable vintage stangs. I know alot of that is due to pure inflation, but look at any decent fastback mustang from 65-73. They all sell very well. The mid 70s cars and very early 80s don't tend to hold their value quite as well because they deviated quite a bit from what the mustang is- a performance car. Now the mustang is back as strong as ever. In 20 years, if you stang is still in good shape you'd be surprised how much it would fetch. Even a few well restored mid 70s stangs sell well. All I'm saying is mustang is more than just a car, its heritage and that counts for more than anything in terms of a car holding its value.
Paul
In the last 3 month I know 3 owners retailing used ones for up to 29K. 4000 miles was the lowest. I told them they would get more if they sold them themselves.
You are kidding yourself if you Buy a new car these days and think that some how you are not going to take a loss on it down the road.
Technology has given us Super Fast Machines such as the 03 Cobra but the days of buying a Car and selling it for 10x the amount 25 years later, just becasue you opted for the high performance package is over. --Unless the auto industry stops making these awesome cars.--not likely.
It's kinda like baseball cards. Those days are over.
GM did make some 600hp camaros in 2002 that are a real gem...but that would be the only exception that I could think of.
Technology has given us Super Fast Machines such as the 03 Cobra but the days of buying a Car and selling it for 10x the amount 25 years later, just becasue you opted for the high performance package is over. --Unless the auto industry stops making these awesome cars.--not likely.
It's kinda like baseball cards. Those days are over.
GM did make some 600hp camaros in 2002 that are a real gem...but that would be the only exception that I could think of.
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