What is the deal with the Price on a 93 Cobra?
 

I have been looking at these cars for several months and I am thinking about buying one. What I don't understand is the wide range in prices. What are these prices truly based off of and what would be a good price to pay.
Thanks

'93 Cobra sticker shock
 

1993 Mustang Cobras are rare, only about 5,000 produced, so that takes them out of the NADA/Kelly Blue Book value reference, along with the fact that you're looking at a nine-year-old vehicle which usually is past the normal depreciation range that dealers and sellers use.

Add to the age, the rarity and the desirability of the '93 Cobra and you get a wide range of values, as you've noticed. Some are going to be fakes, some are going to be beat on and some are going to be trailer queens that have minimal mileage - and are worth more than the car cost new.

Once you get into older cars and 'collectables' such as the '93 Cobra - of which there are a small amount still existing - the prices will get crazy and run all over the place. A car like the '93 Cobra is really worth whatever someone is willing to pay for it . Forget 'the book' - there isn't any.

Caveat Emptor
'Let the buyer beware'.

This is true. I know of only one that a guy I know has. He doesnt really beat on it but he just uses it for a daily commuter. Eats and drinks in it. Gets in it with muddy shoes and drives it all over the world. I think its got like 125,xx on the clock. I thinkthis is outrageous. He the type with more money than sense. Just out of curiosity I asked him to price it, ( knowing i couldnt afford) he said $20,000. I said Your freakin crazy you nut. Its been wrecked once (not his fault but still). I would give 10,000 but no more. maybe I'm outta line but I dont think so.

And like Mr 5 0 said

Caveat Emptor
'Let the buyer beware'.

Brad

Well, cars were built to be driven, not sit in a garage or museum, and they should be enjoyed as much as possible. You will spend at least 33% of your life in a car! enjoy that 3rd of your life! that's why i don't drive an economical(read: BORING!) car. I have 104K miles on my 93 Cobra. Very clean, about 25 passes on it at the track & counting, driven like the daily driver that it is. I have every original part that I took off, including the full stock h-pipe & mufflers in my attic above the garage, with the notion that maybe someday the car would be worth some $$ if put back to stock.
They made 4,992 of these cars, and a mechanic told me 5 years ago that maybe only about 2,500 original ones still exist. That is why the price can get so high to buy one. I can't afford to sell it as the '03 ones will be about $35K & I hear they wont trade me straight up at my local SVT dealer, and there isnt another car out there that could really replace it.
If you want a limited production car that is a blast to drive like you stole it & it will hold together fine, find one & buy it. If you just want to go fast & look good, find an early 90's 5.0, put some Cobra rims on it, spend 1/2 the $$ you would have spent on the Cobra on the mods, & prepare to go sub 12's in the 1/4. As for me, I'll just keep having fun driving it & keep it clean. Later!