WOW! 8K miles TWF back on ebay.

tulsaBill

If i had the nerve to sell my 65 Chevy step side I'd buy this one in a snap. 8k miles w/ CD and 5speed.

I see where this guy has had it for sale since 2008 (for 35k LOL). Looks like he's getting down to real workd numbers by the auction history.


I guess the only problem I would have buying a car w/o so low miles is that every mile you put on it would be painfull. I would also be convcerned about the condition of the seals and other componants from sitting for so long. It's got the orig tires but they must have flat spots by now.

What do you think?

TWF_John

I certainly wish my car was in that condition. But, like you, it would be hard to justify driving it. I wonder what they reserve is. Given the history , I bet it is close to 20k.

jburn57

Considering the Sticker price new was around $24,000. And he bought it new, his investment didn't work out.

Even if you got a good deal on it now. You both are right you almost couldn't drive it. So you buy it take it home put it in the garage and only get it out to haul it to Mustang shows. These cars don't do well at regular shows most of the time.

Hard to tell at this point what the value of our cars will be in 10 to 20 years or even what this one will be worth.

With speciality car insurance I have only be able to insure mine for $10,000. had to argue for that, they were offering only $8,500. Showing it and a few trophies on the shelf helped. My mileage didn't. Curious, how many have speciality car insurance and for how much.

John's history listing here helped also in setting a base value, I also used it, so big thanks to John for the stats.

YellowandGreen

I have collector car insurance on my yellow 93. I have the agreed value as $8500 but my car has over 100k on it.

gokstate74

I think I'd go this route instead:
20k Triple White in NE for 9k
http://nh.craigslist.org/cto/2840734387.html

tulsaBill

The seller on eBay also has a 93 Cobra w/ 6k miles and a newer truck for sale. Makes me think dealer but the history shows one owner.

I emailed the owner and let her know that I would not make a bid today but if the car is still for sale in June I might ping her. I'll be moving some money around at that time and might have some to spare.

FWIW, she did say that she has the original cassett and mats. The car also has the 4 way power seat. She is not in the MCA or registerd here.

If I make an offer it will not be for 20k.

jburn57

I have collector car insurance on my yellow 93. I have the agreed value as $8500 but my car has over 100k on it.

Just turned mine over 100,000. Insurance renews next Oct. so we will see what they do then. Really expect them to want to reduce the value.

gmjamesfla

http://cgi.ebay.com/ebaymotors/Ford-Mus ... 500wt_1021


http://cgi.ebay.com/ebaymotors/Ford-Mus ... 500wt_1021

The Cars are in PA and the prices will be far too high!

tulsaBill

Looks like the best this car ever did was back in June for $15,800. I'll bet the reserve is $18,500 now.


Hey John - a field to search the auction history table on seq number would be awesome.

Also, why can't the history be sorted by mileage?

tulsaBill

Curious, how many have speciality car insurance and for how much.

I've got Hagerty w/ a 15k policy. At first they did not want to insure it at all. I had to give them some docs to justify the value. I also had to ask to have a supervisor review the request and finally I threatened to take the TW and my 65 Chevy someplace else if I could not have both on the same policy.

The moral here is never accept no from someone who is not empowered to say yes.



(FWIW I have a 12k policy on the Chevy)

TWF_John

Ron E. emailed me to add some input to the discussion here on insurance. He recommended checking out Grundy as you can check the rates for various options through their web site.

When we had our last discussion here on insurance (Do You Believe the Insurance Company Totaled this YB Feature Convertible?) he shared that, perhaps counter intuitively, too high of an insured value can be bad, too. In the worst scenario, you could end up in a situation where the cost to repair your car exceeds its real world value but the insurance company chooses repair vs. paying your much higher agreed value. You end up with a highly repaired car that you might have been better off parting ways with and finding another.

To answer the question on what others have for insurance, my 52,000 mile automatic TWF is insured for $12,000 agreed value through Heacock Classic. Their service has always been great and I have asked for and received increases in the several years I have had my policy with them.

TWF_John

Hey John - a field to search the auction history table on seq number would be awesome.

Also, why can't the history be sorted by mileage?

Good catch on the mileage sort. It was a bug. A letter 'l' was where it shouldn't have been. It is fixed now.

I think search by sequence number would be good as well. It has been a while since I have done any development on that part of this site. I will look into it and see what it would take.

gmjamesfla

Fellas.... I think we are looking at 10-15 years until our cars hit the $15-20K range. I have been looking for a cobra (93,94) for the last 5 years because I think their value will increase more aggressively.

tulsaBill

Any car is worth what the market will bear at a given time. You may not be willing to pay $15-$20k but obviously some people are. Look at the auction history sorted by price and a small percentage do fetch those prices. That's how the cars worth increases; by some people paying that much. It's true that some feature cars can be had for much less but there is a world of difference between a daily driver that's been fairly well cared for and a sub 10k mile garage queen.

I don't think many new cars are worth $20k but apparently they are since that's what sellers can get for them. I did a search one for the cheapest NEW car you could get in America. At that time is was 16k for a totally stripped down POS. Certainly not worth it but someone was buying them.

tulsaBill

The 93 cobra this seller has is already up to 25k and past the reserve. That's about 5k more than new. Factor in the tax, insurance ect and seller still takes a loss.

Goes to show that cars are still never a good investment. Considering that the seller didn't even drive the car very much they would have been better to drop that 20k in a mutual fund and sit on it for 20 years. Hell even 20k in gold stuffed in a safe deposit box would be worth a ton more today.

gokstate74

The 93 cobra this seller has is already up to 25k and past the reserve. That's about 5k more than new. Factor in the tax, insurance ect and seller still takes a loss.

Goes to show that cars are still never a good investment. Considering that the seller didn't even drive the car very much they would have been better to drop that 20k in a mutual fund and sit on it for 20 years. Hell even 20k in gold stuffed in a safe deposit box would be worth a ton more today.

It's the usual argument. No respecting financial planner would promote vehicles for investment. Some beat the odds at auction time, most do not. I have broken even on my last two mustangs (each owned for about 2 years), and by break even, I mean cost, taxes, expenses to maintain. I might break even selling the 92 someday. I'll never recoup on the '12 since I bought it new--the first buyer always takes the biggest depreciation hit.

If you want to make money or break even, find the 10-15 year old car (about peak depreciation), enjoy it lightly and I think you can get your money back if you bought it at fair market value.

That being said, I enjoy the "static" investment of a mustang--more fun to look at than a mutual fund report--though the latter is what one eventually depends on in retirement.

jburn57

I buy new but I keep them long enough to be the 2nd and possibly the 3rd owner. LOL. Usually get rid of them between 250,000 and 280,000 and can get around $1000 - $1500 for them when I am done. The only advantage to this is I am absolutely sure of the maintainance. Had a 85 Mazada GLC I kept to 360,000 only because everything was holding up and the interior was still in good shape. Lowest maintainence car I have ever owned. Pretty rare to have one last that long especially an 80"s car. LOL. After that many miles it was down to the primer from the mud flaps back, looked like it had been sand blasted. LOL.

Smokin5.0

http://orlando.craigslist.org/cto/2852159897.html