What's my GN worth?

[turbojimmy]

Okay, I haven’t actually decided to sell the car but I’m curious as to it’s value. Here’s the story, with a bit of irony. Back in ’98 I went to my uncle’s salvage yard to look at a 1997 Mustang Cobra. He sells rebuildable wrecks. The Mustang was hit real hard in the front and the roof had buckled. It looked like bad news to me so I said forget it. However, right next to it was what was to become my Grand National. Recovered theft, perfect condition from the rear door edge forward. Needed 1/4s. It had 90-something thousand miles and was bone stock.

I put new 1/4s on it and the rest is history – I’ve been tweaking the car since I put it on the road in ‘99. Now the same uncle has a 2003 Cobra. Blue on tan. The alleged price is waaaaaaaay under book value (we’ve been burned by the guy before, but let’s assume he can stick to it). It’s a light right front hit, but a total.

Back to my GN: it has a so-so paint job and the tail light panel isn’t perfect (should’ve been replaced but wasn’t). The left tail light doesn’t fit 100% right as a result. No one would notice unless I told them. Everyone that sees the car comments on how nice and clean it is. Interior is an 8 out of 10, new front covers. Steering wheel could need recovering. It’s a t-top car.

Engine was rebuilt in 2001 and has about 8k miles on it. Bored .040 over, forged pistons, cam, P&P stock heads, billet mains. PT-61 turbo, RJC FMIC, 60# injectors, T+, LS1 MAF, poly motor mounts, 3” THDP, 3” Torque Tech exhaust, SMC alky, all necessary gauges, new 340 fuel pump, hot wired, etc.

Trans is a new CK Performance 2004R with a Vigilante 5-disk lockup converter. It has Moser axles, boxed lower control arms, rebuilt posi and a 3” aluminum driveshaft. Wheels are Draglites (6 of them, 2 15x7 on the front and 4 15x8 for the back). Front tires are like new and stock sized, rears are 275/60s (good shape) and 275/50s (toast but still work). I have an Extender 98 and 108 chip as well as 2 TurboTweak chips for it.

It has a new windshield and a new (rebuilt) powermaster. I have all the stock parts as well as some extra stuff.

Mechanically there is nothing wrong with the car at all. Cosmetically there are a couple of rough spots but it looks great overall. The car has a “R” title, meaning it was reconstructed from salvage. It has 106k on it now.

I’m not sure I’m willing to part with the car, but if I could get between $10-15k for it, it would make it a lot easier to justify (actually anything over $10k and I'd probably sell it tomorrow). Am I dreaming?

Jim

 

[SGRIM]

If I were you I would take a dime less than 10K for it if it is not a rust bucket. Do you have the original parts? If so I would think 11,500 wouldn't be an unreasonable price. You can't replace the parts for 10K

Good luck!

 

[turbojimmy]

If I were you I would take a dime less than 10K for it if it is not a rust bucket. Do you have the original parts? If so I would think 11,500 wouldn't be an unreasonable price. You can't replace the parts for 10K

Good luck!

No, there's no rust at all. It was a Maryland car and apparently garage kept before it was stolen (and I keep it garaged and don't drive it in the rain or snow). I have all of the original parts.

Jim

 

[SGRIM]

I wouldn't take a penny less than 10K!

Gook luck!

 

[stickybones]

Jim

It's funny you made this post now. For weeks now I've been contemplating putting up a post exactly like this on my own GN. I don't necessarily want to sell my car, but money is getting tight and family finances need to take precedence. I simply haven't put the post together asking what others thought my car was worth simply because I figured now was a bad time to sell anyway. If I still had thoughts of selling the GN next spring, I was going to post then.

Good luck with whatever route you take.

Mike

 

[turbojimmy]

Jim

It's funny you made this post now. For weeks now I've been contemplating putting up a post exactly like this on my own GN. I don't necessarily want to sell my car, but money is getting tight and family finances need to take precedence. I simply haven't put the post together asking what others thought my car was worth simply because I figured now was a bad time to sell anyway. If I still had thoughts of selling the GN next spring, I was going to post then.

Good luck with whatever route you take.

Mike

Thanks. Now might be a bad time to sell, but I wouldn't be selling until Spring anyway. I just need to know whether to pull the trigger on this Cobra now knowing I'd have to come up with the cash when it's fixed up in the Spring. IIRC, you're car is in better shape than mine and has a clean title.

The more I look at the Cobra the more I think it lacks the personality of the GN, but the times it runs on pump gas can't be overlooked. Decisions decisions.

Jim

 

[Snorman]

The more I look at the Cobra the more I think it lacks the personality of the GN, but the times it runs on pump gas can't be overlooked. Decisions decisions.

Jim

You mean that it's reliable and handles and stops while providing all the creature comforts you need?
You won't be disappointed in a Cobra. Upper pulley, intake, exhaust, tune and tires and it'll run low-mid 11's all day long on pump gas. Put a ported blower and lower on it and it'll be in the low-11's and in the mid-120's (possibly 10's with great driving and air).
The potential is awesome with these cars. Twin-screwed '03/'04 cars are now regularly in the low-10's at close to 140mph on bone stock long blocks.
I'm doing a 5.0 liter stroker for mine with a set of ported heads and stage II cams. I'm hoping for single digits in '07, on pump gas and a tire with enough time to dial in the combo and with some of that killer New Jersey air later in the fall.
Check out Ford Mustang-Mustang Cobra-Shelby Cobra-Ford Performance Vehicles-Modular Fords and the '03/'04 Cobra forum for some great info on these cars.
S.

 

[turbojimmy]

You mean that it's reliable and handles and stops while providing all the creature comforts you need?

Nah, I know it's got all that. It's 16 years newer than the GN. They're totally different animals. The GN has an aura that Mustangs just don't have. Don't know how else to explain it.

The practical side of me loves the reliability and performance possibilities of the Cobra. I need to sleep on it. I just can't picture not having the GN.

Jim

 

[darkred87T]

Jim, if I thought i could afford the car, I would snatch it up. However, I too would be on the fence about getting rid of a rare car like our TB's for a Rustang. Also, Sometimes a "John" car can start off cheap and get expensive really fast before it's done. We should try and get pics of it.

 

[turbojimmy]

Jim, if I thought i could afford the car, I would snatch it up. However, I too would be on the fence about getting rid of a rare car like our TB's for a Rustang. Also, Sometimes a "John" car can start off cheap and get expensive really fast before it's done. We should try and get pics of it.

In reality, the Cobra is the rare car. 8,400 made in 2003 versus 20,000 GNs in '87. I dunno. I'm thinking of ditching the Caddy, too, and just using the Cobra as a driver/weekend racer kind of thing. Consolidate insurance and other expenses and actually be able to keep my driver in the garage.

Jim

 

[Snorman]

Nah, I know it's got all that. It's 16 years newer than the GN. They're totally different animals. The GN has an aura that Mustangs just don't have. Don't know how else to explain it.

IMO, it has the aura of an old, poorly made car. No slam against it, but it's what was being built ~20 years ago. Don't get me wrong, I love my Turbo-T...but I grow weary of worrying about what's going to break next.

The practical side of me loves the reliability and performance possibilities of the Cobra. I need to sleep on it. I just can't picture not having the GN.

Jim

And for less than $2000 (in mods) you can practically run low-11's, all day, on pump gas and 17" DR's in a car that'll get over 20-mpg on the highway, idle in traffic all day with the AC blowing cold and not wince when you throw it into a turn or stomp on the brakes.
:wink:
S.

 

[turbojimmy]

IMO, it has the aura of an old, poorly made car. No slam against it, but it's what was being built ~20 years ago. Don't get me wrong, I love my Turbo-T...but I grow weary of worrying about what's going to break next.

It's an example of a 20-year old GM product. I don't think anyone is shocked by that. I don't have to rely on it so it really doesn't bother me. I just bring it to the track and cruise nights.

I hate to let the Cobra go - I can pick it up for around $12.8k w/ 40k miles on it. I'd be pretty close to break-even if I sold the GN.

Jim

 

[turbojimmy]

I decided to forget about the Cobra. If could own both I'd seriously consider it, but I don't have room for a 4th car. I'd love to own the Cobra, but not at the expense of the Buick. I like the Buick too much.

Another option is to sell the Caddy and use the Cobra as my daily driver. But....I've BTDT with a 5-speed GT. I got tired of it. The Caddy is a helluva nice car to cruise to work in every day. And it's nice having the GN as the toy.

Maybe I'll pick up a GT500 in a few years. Someone's bound to f-up at least a couple of those. In the mean time I'll just keep making the Buick faster.

Thanks all for your replies.

Jim

 

[stickybones]

Glad to have ya back Oh wait a minute, you never left.

 

[Quiky One]

Good choice.

Jason

 

[darkred87T]

Maybe I'll pick up a GT500 in a few years. Someone's bound to f-up at least a couple of those. In the mean time I'll just keep making the Buick faster.

Thanks all for your replies.

Jim

That's a good point. It won't be the last car John gets and I'm willing to bet sooner or later he'll get a wrecked Shelby. If not he always seems to have Vipers hanging around.

 

[turbojimmy]

Well I got the news today that the Cobra in question was sold over the weekend. After looking at the pics I think someone got a pretty good deal. It needed a nose (both fenders, hood, bumper, etc.) but there wasn't much damage structurally. It went fast, which I think is an indication of how good a deal it was.

I've been going back and forth on this for weeks - I'm sort of glad the decision was made for me.

Now he tells me he has a Prowler. I'm happy to say that I find nothing useful about those things at all and thus have no interest.

This guy does come up with his fair share of Vipers though.....

Jim

 

[Grumpy]

there have been several Shelby's hittin the pool to goin for all the $$$$ though

 

[Quint]

Good choice. One thing i always think, is man I could get a newer car, get her to run pretty fast hgh 9's if im lucky, 10's are pretty easy, and damn, on pump gas even. But, now you ahve a car, thats not as cool, that everyone and their dog has either owned or driving and when you go to the track, you see them everywhere? Finally when you talk to someone at the track, its the same old SH$#!@, i got the pulley, chip, etc. With the GN,we get something unique and just cool period. My wife would never let me own a Cobra or a Supra, even if they where built to run fast, 10's more than likely, but than what where from there. Oh yea, you can drive it around town more, its more reliable, but than your getting speeding tickets, getting to agressive on the roads, got nothing to appreiciate when you head to the track to do some real racing. One is for sure, ive always wanted something dfrnt, did not like blending in and i wanted something that could go 8's and still do all this. The GN may not be the prettiest, fastest, best handling, but what they do, do well, they look better doing than any other car out there,a nd thats hitting 1/4 mile and making it look easy, while the others are make it look so hard.

 

[turbojimmy]

there have been several Shelby's hittin the pool to goin for all the $$$$ though

Yeah they go for big bucks. This guy is in the salvage biz and calls us when he gets something interesting. This time it was the Cobra. Last couple of times were Vipers. My GN and Caddy are both from him (both totals). We usually pick the stuff up pretty cheap. I couldn't have afforded a 'real' GN when I got my recovered theft from him in '98, nor would I have been able to get into the Cadillac DTS I'm driving to work every day.

This was a cheap way to get into the much-hyped "Terminators" but it wasn't worth parting with the GN. I need a bigger paycheck and bigger garage.

Jim