Just bought a 93 Cobra...
 

I would like to start by saying hello to everyone and that I am happy to have found this forum. I just bought a 1993 Teel Cobra. It has been a part of a collection so it is in perfect condition. 23000 miles and not a scrach on it. Everything is stock and looks like it came out of the factory. I was just wanting some thoughts and opinions on the investment and maybe some of you could respond to a few questions I have.

1. How much is it worth?
2. What kind of upkeep is required on a car if you plan on keeping very low miles (800-1200 per year).
3. Does this make and model have the potential to be a sought after collectors item (1st year of the cobra,last year of the "fox" mustang)?
4. Am I kidding myself with all this collector, and investment talk and should I just drive the hell out of it?

Re: Just bought a 93 Cobra...
 

Welcome. Congrats on your purchase, nice choice!
I don't know much about it's worth or upkeep, but I'm sure with the low mileage and condition, it's worth a pretty penny. These cars are pretty sought after already, and (I would think) only increase in value with time.
That being said, if I were in your shoes I'd be hard pressed not to drive the hell out of it!
Nick

Re: Just bought a 93 Cobra...
 

Hold onto that car.

Like it's gold.

Because it IS.

Re: Just bought a 93 Cobra...
 

Im pretty sure i have seen a couple 93 mustang cobras on ebay go for between 20-30,000.

Re: Just bought a 93 Cobra...
 

Yes my friend... good investment! That's my dream color on my dream car btw.

I bought a POS 89GT last year for $4500. Now you can't find a worthless piece of junk for less than $5,000 just a few months later. Around here they are all bought up!

Re: Just bought a 93 Cobra...
 

Am I kidding myself with all this collector, and investment talk and should I just drive the hell out of it?

if it is an investment.. put it in teh basement and buy something to drive..

i drive my "investment" but its not an investment... 03 cobra...

Re: Just bought a 93 Cobra...
 

Got any pics?

Re: Just bought a 93 Cobra...
 

Those are very nice cars. I remember looking at one at the dealership in 1993 but could not afford one since I was a full time college student. :( 1993 Cobras are worth around 13 to 20 grand depending on the selller and condition of car. Now the 1993 Cobra R version is worth over $30,000. These Cobras were all red with black rims. :eek:

Re: Just bought a 93 Cobra...
 

Yeah, the Cobra r's had no foglights/rear seat/air cond. Not any faster than the cobra, but worth all that money... weird to me.

Re: Just bought a 93 Cobra...
 

NADA says the retail value is $9,550. Most true Cobra lovers would pay a lot more for a '93 in mint condition.

Driving the car at least once per month for 30 minutes or more is the best way to keep the miles off and not have to go into deep storage mode. Either way, keep it garaged - and use a car cover. If you don't have a garage, it's worth paying to rent one if you expect to keep that '93 mint. Change the oil and filter at least once every six months, no matter how few miles you put on it as motor oil deteriorates, just sitting in the pan.

If you must store the Cobra (say, for the winter months) keep the tires off the floor. Putting the car on jack-stands is usually enough. Disconnect the battery if the Cobra isn't going to be driven on any kind of regular basis. Start the engine every week and - at the least - let it run to operating temp. Pump the brakes, pull the E-brake on and off and run the heater and then the AC full blast for 5 minutes or so. Keep a careful eye on fluid levels; brake and coolant, especially.

Keep all rubber parts - inside and out - treated and don't allow them to dry out.

Keep the windows cracked open an inch and use an air freshener like 'Febreze' to keep the interior from getting that 'musty smell'. Placing some kitty litter under the car and in the trunk will help soak up any ambient moisture around the Cobra.

Beware of mice and other rodents that can make a home in an unused, garaged vehicle, destroying insulation and so on. A few mothballs under the hood can help prevent this nuisance. At least, that's what they tell me.

Yes. Definitely.

No, a '93 Mustang Cobra, stock, in mint condition and with only 23,000 miles on it is a sought-after car.

Of course, it's yours and you can do what you want with it, including driving the hell out of it, getting parking lot dings, road tar and road-sand abrasions on the front end, soiling the interior and risking an accident or engine damage. It's your choice. :)

Re: Just bought a 93 Cobra...
 

I think they only made 5003 1993 Cobras so.. I think it would be a good investment if it were purchased at the right price. If you paid $20k for it then.. you are going to have to hold it a very long time to make any money. That being said, I really don't see cars as an investment(I don't have that kinda money or time), I buy cars for the driving enjoyment.

Re: Just bought a 93 Cobra...
 

Hi there! it's nice to meet you!!
Congrats on your new baby car!! Sounds beautiful!
I don't know much about investments, but you could always do a search online, if you haven't allready, that is, and possibly find out that way... or even check with you local library, they might have some info for you too...
Good luck! I hope you find what you're looking for!!
Have a great day! :)